Civic Intelligence

Maine Center for Enterprise Development

990 • Fiscal year 2018 • EIN 01-0510641

Jan 01, 2018 to Dec 31, 2018 • Filed on May 10, 2019

Organization ProfileWWW.MCED.BIZ

View Organization Page

PO Box 8628Portland, ME 04104

(207) 774-8111

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

1.16x

Higher debt load relative to assets than 95% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

0.39x

Higher debt load relative to revenue than 83% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

38th percentile

-0.6%

Higher net margin than 38% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

93rd percentile

$134,605

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 24.3% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

3rd percentile

-44%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

93rd percentile

107%

Faster revenue growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$184,902

Down $143,235 (-44%) from 2017

Net Assets

Down

-$29,308

Down $4,562 (-18%) from 2017

Liabilities

Down

$214,210

Down $138,673 (-39%) from 2017

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin38th percentile

Revenue

Up

$553,853

Up $286,488 (+107%) from 2017

Expenses

Up

$557,093

Up $130,388 (+31%) from 2017

Net Income

Up

-$3,240

Up $156,100 (+98%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$200K$0-$200KAssets 2011: $46,795Liabilities 2011: $12,920Net Assets 2011: $33,8752011Assets 2012: $121,333Liabilities 2012: $95,076Net Assets 2012: $26,2572012Assets 2013: $275,244Liabilities 2013: $159,029Net Assets 2013: $116,2152013Assets 2014: $344,483Liabilities 2014: $145,849Net Assets 2014: $198,6342014Assets 2015: $353,623Liabilities 2015: $213,299Net Assets 2015: $140,3242015Assets 2016: $223,389Liabilities 2016: $88,728Net Assets 2016: $134,6612016Assets 2017: $328,137Liabilities 2017: $352,883Net Assets 2017: -$24,7462017Assets 2018: $184,902Liabilities 2018: $214,210Net Assets 2018: -$29,3082018Assets 2019: $230,863Liabilities 2019: $273,940Net Assets 2019: -$43,0772019Assets 2020: $293,278Liabilities 2020: $282,616Net Assets 2020: $10,6622020Assets 2021: $380,716Liabilities 2021: $269,824Net Assets 2021: $110,8922021Assets 2022: $318,760Liabilities 2022: $265,924Net Assets 2022: $52,8362022Assets 2023: $360,484Liabilities 2023: $279,881Net Assets 2023: $80,6032023Assets 2024: $319,240Liabilities 2024: $229,375Net Assets 2024: $89,8652024

Highlighted filing

2018

Assets$184,902
Liabilities$214,210
Net Assets-$29,308
Open 2018 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $191,186Expenses 2011: $342,530Net Income 2011: -$151,3442011Revenue 2012: $420,906Expenses 2012: $428,524Net Income 2012: -$7,6182012Revenue 2013: $583,819Expenses 2013: $493,861Net Income 2013: $89,9582013Revenue 2014: $670,893Expenses 2014: $588,474Net Income 2014: $82,4192014Revenue 2015: $499,810Expenses 2015: $558,120Net Income 2015: -$58,3102015Revenue 2016: $566,104Expenses 2016: $571,767Net Income 2016: -$5,6632016Revenue 2017: $267,365Expenses 2017: $426,705Net Income 2017: -$159,3402017Revenue 2018: $553,853Expenses 2018: $557,093Net Income 2018: -$3,2402018Revenue 2019: $714,994Expenses 2019: $728,763Net Income 2019: -$13,7692019Revenue 2020: $871,455Expenses 2020: $817,716Net Income 2020: $53,7392020Revenue 2021: $1,053,182Expenses 2021: $952,952Net Income 2021: $100,2302021Revenue 2022: $962,397Expenses 2022: $1,020,453Net Income 2022: -$58,0562022Revenue 2023: $1,351,382Expenses 2023: $1,323,615Net Income 2023: $27,7672023Revenue 2024: $1,367,620Expenses 2024: $1,358,358Net Income 2024: $9,2622024

Highlighted filing

2018

Revenue$553,853
Expenses$557,093
Net Income-$3,240
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 10, 2019
Return Version
2018v3.1
Gross Receipts
$553,853
Mission and Program Overview

Mission

To create high quality jobs for Maine thorugh best practice incubations services that systematically assist new businesses with intellectual property and business plan needs, R&D activities, early stage financing and product commercialization.

Empowering & enabling me's next generation of entrepreneurs through training and mentoring.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$303,314$170,527▼ $132,787
Accounts Receivable$24,823$14,375▼ $10,448
Total Assets$328,137$184,902▼ $143,235
Liabilities
Deferred Revenue$326,424$198,569▼ $127,855
Accounts Payable and Accrued Expenses$26,459$15,641▼ $10,818
Total Liabilities$352,883$214,210▼ $138,673
Net Assets / Fund Balance
Unrestricted Net Assets$-24,746$-29,308▼ $4,562
Total Net Assets Fund Balance$-24,746$-29,308▼ $4,562
Total Liabilities and Net Assets / Fund Balance$328,137$184,902▼ $143,235
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tom RaineyExecutive DirectorFT$134,236$369$134,605

Board Members and Trustees

NameTitle
Tony PerkinsChair
Becky MckinnellDirector
Brett AustinDirector
Brian WhitneyDirector
Briana VolkDirector
Charlie EmmonsDirector
Chris SauerDirector
Fletcher KittredgeDirector
Jake WardDirector
Mike WingDirector
Sam FratoniDirector
Todd KeillerDirector
Bob MartinSecretary
Cory VargoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$520,453
Program Service Revenue
$33,400
Investment Income
$0
Other Revenue
$0
All Other Contributions
$291,088
Change in Net Assets
$-3,240
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$284,188
Other Expenses$272,805
Grants and Similar Amounts Paid$100
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$101,926$39,109-$141,035
Current Officers, Directors, Trustees, and Key Employees$103,653$30,953-$134,606
Other Salaries and Wages$59,328$17,717-$77,045
Other Employee Benefits$40,128$11,983-$52,111
Occupancy-$32,497-$32,497
Payroll Taxes$15,729$4,697-$20,426
Advertising$1,728$5,903-$7,631
Travel$3,723$1,600-$5,323
Office Expenses-$3,775-$3,775
Insurance-$2,494-$2,494
Other Expenses$68,728$2,057-$2,057
Conferences and Meetings-$1,502-$1,502
Grants to Domestic Orgs$100--$100
Fees for Services Legal-$35-$35
Total Functional Expenses$395,043$162,050$0$557,093
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Operations manager, executive director and treasurer review the 990 before filing. The draft 990 is also sent to board of directors before filing.”

Form 990, Part VI, Section C, Line 19

“Governing documents and financial statements are not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Maine Center for Enterprise Development
EIN
01-0510641
Phone
2077748111
Address
PO BOX 8628, PORTLAND, ME 04104
Doing Business As
Maine Center for Entrepreneurs

Signing Officer

Name
Tom Rainey
Title
Executive Director
Phone
2077748111
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Rainey
Formed
1997
Legal Domicile
Me
Voting Board Members
14
Independent Board Members
14
Employees
3
Volunteers
100

Preparer

Firm
Wipfli Llp
Address
30 LONG CREEK DRIVE, SOUTH PORTLAND, ME 04106-2437
Preparer
Cory Vargo CPA
Phone
2077745701
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional services & contractors: program service expenses 101,926. Management and general expenses 39,109. Fundraising expenses 0. Total expenses 141,035.”

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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt059328
IRS990/OtherSalariesAndWagesGrp/TotalAmt077045
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04697
IRS990/PayrollTaxesGrp/ProgramServicesAmt015729
IRS990/PayrollTaxesGrp/TotalAmt020426
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0TOM RAINEY
IRS990/PriorPeriodAdjustmentsAmt0-1322
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/BusinessCd1611430
IRS990/ProgramServiceRevenueGrp/Desc0CULTIVATOR PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc1TOP GUN PROGRAM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt025000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt025000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18400
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0260615
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0172716
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt06750
IRS990/PYRevenuesLessExpensesAmt0-159340
IRS990/PYSalariesCompEmpBnftPaidAmt0253989
IRS990/PYTotalExpensesAmt0426705
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0267365
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3240
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt033400
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0520453
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0260615
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0487455
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0445285
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0630837
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02344645
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt033400
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt06750
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt078649
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt054525
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt040056
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0213380
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt02558025
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0553853
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0267365
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0566104
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0499810
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0670893
IRS990ScheduleA/Total509Grp/TotalAmt02558025
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0553853
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0267365
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0566104
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0499810
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0670893
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02558025
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OPERATIONS MANAGER, EXECUTIVE DIRECTOR AND TREASURER REVIEW THE 990 BEFORE FILING. THE DRAFT 990 IS ALSO SENT TO BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROFESSIONAL SERVICES & CONTRACTORS: PROGRAM SERVICE EXPENSES 101,926. MANAGEMENT AND GENERAL EXPENSES 39,109. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141,035.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0328137
IRS990/TotalAssetsEOYAmt0184902
IRS990/TotalAssetsGrp/BOYAmt0328137
IRS990/TotalAssetsGrp/EOYAmt0184902
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0520453
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0162050
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0395043
IRS990/TotalFunctionalExpensesGrp/TotalAmt0557093
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0352883
IRS990/TotalLiabilitiesEOYAmt0214210
IRS990/TotalLiabilitiesGrp/BOYAmt0352883
IRS990/TotalLiabilitiesGrp/EOYAmt0214210
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-24746
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-29308
IRS990/TotalOtherCompensationAmt0369
IRS990/TotalProgramServiceExpensesAmt0395043
IRS990/TotalProgramServiceRevenueAmt033400
IRS990/TotalReportableCompFromOrgAmt0134236
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033400
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0553853
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0328137
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0184902
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt01600
IRS990/TravelGrp/ProgramServicesAmt03723
IRS990/TravelGrp/TotalAmt05323
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-24746
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-29308
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 8628
IRS990/USAddress/CityNm0PORTLAND
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004104
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0WWW.MCED.BIZ
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TOM RAINEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$184,902
Liabilities
$214,210
Net assets
-$29,308
Revenue
$553,853
Expenses
$557,093
Net income
-$3,240
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.23$0.09$1.37$1.36$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.36$0.28$0.08$1.35$1.32$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.27$0.05$0.96$1.02$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.27$0.11$1.05$0.95$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.28$0.01$0.87$0.82$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.27$0.04$0.71$0.73$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.18$0.21$0.03$0.55$0.56$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.35$0.02$0.27$0.43$0.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.09$0.13$0.57$0.57$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.35$0.21$0.14$0.50$0.56$0.06
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.34$0.15$0.20$0.67$0.59$0.08
2013Detailed filing. Detailed filing data is available for this year.$0.28$0.16$0.12$0.58$0.49$0.09
2012Summary only. Only limited summary data is available for this year.$0.12$0.10$0.03$0.42$0.43$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.01$0.03$0.19$0.34$0.15
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $500k-$1M nonprofits