Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1997.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
72 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
14 people listed on the 990; $181K paid to officers and key staff.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Thomas Rainey | $181,262 | — | $162,304 | — | — |
| Tom Rainey | — | $154,289 | — | $141,592 | $155,637 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Trains and mentors aspiring entrepreneurs to build successful businesses.
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Marketshare is the most expensive mce program, with 2024 expenses totaling $332,597 and 41 client companies enrolled. A program designed for mature maine-based food and beverage companies looking to aggressively expand distribution regionally and nationally, mce engages a team of subject matter experts to work with each company to…
At $228,499 in expenses and 14 client companies partaking, the cultivator program was the second most expensive initiative for mce in 2024. In this program, each member company is assigned a personal assessment team comprised of three subject matter experts in marketing & sales, finance, and operations.
The foodtech maine program cost $151,664 making it the third most expensive mce initiative in 2024. This mce business accelerator focused on driving growth and innovation in maine's food, agriculture, and aquaculture ecosystem.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $128K | $161K |
| Total assetsLn 16 | $360K | $319K |
| LiabilitiesLn 26 | $280K | $229K |
| Net assetsLn 32 | $81K | $90K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $30K | $30K | ||
| Pay of current officers, directors and key staffLn 5 | $185K | $106K | $79K | |
| Other salaries and wagesLn 7 | $217K | $124K | $93K | |
| Pension plan contributionsLn 8 | $13K | $8K | $6K | |
| Other employee benefitsLn 9 | $24K | $14K | $10K | |
| Payroll taxesLn 10 | $26K | $15K | $11K | |
| Management feesLn 11a | $35 | $35 | ||
| Other fees for servicesLn 11g | $463K | $344K | $119K | |
| Advertising and promotionLn 12 | $31K | $19K | $12K | |
| Office expensesLn 13 | $6K | $6K | ||
| Information technologyLn 14 | $8K | $8K | ||
| OccupancyLn 16 | $27K | $27K | ||
| TravelLn 17 | $15K | $15K | ||
| Conferences, conventions and meetingsLn 19 | $4K | $4K | ||
| InterestLn 20 | $102 | $102 | ||
| InsuranceLn 23 | $4K | $4K | ||
| Other expenses (24a–d)Ln 24 | $304K | $304K | ||
| All other expensesLn 24e | $2K | $2K | $562 | |
| Total functional expensesLn 25 | $1.4M | $980K | $379K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $1.4M | $1.4M | $9K | $90K | 990 PDF |
| FY2023 | $1.4M | $1.3M | $28K | $81K | 990 PDF |
| FY2022 | $962K | $1.0M | −$58K | $53K | 990 PDF |
| FY2021 | $1.1M | $953K | $100K | $111K | 990 PDF |
| FY2020 | $871K | $818K | $54K | $11K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,367,620 across 5 lines filed
Part IX · Statement of functional expenses $1,358,358 across 18 lines filed
Part X · Balance sheet $319,240 assets, 10 lines filed
Part XI · Reconciliation of net assets $89,865 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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