Overview
What is Maine Technology Institute?
The Maine Technology Institute (MTI) is a Brunswick-based nonprofit organization that invests in promising technologies in Maine by funding research and development projects in the state's seven technology sectors. Their mission is to stimulate and support research and development activities leading to the commercialization of new products and services in Maine's technology-intensive industrial sectors. MTI offers various funding levels, ranging from less than $25,000 to over $250,000, for eligible businesses, non-profit organizations, academic institutions, and entrepreneurs. The Institute assesses potential applicants based on their team ability, innovation, customer and market, business model, and scope of work. The successful applicants are required to submit reporting on their projects for five years post-award. Overall, MTI plays a crucial role in Maine's economic development strategy by fostering a research, development, and product deployment infrastructure that generates high-quality jobs across the state.
Official website here: www.mainetechnology.org
Is Maine Technology Institute legitimate?
Maine Technology Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maine Technology Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $102,923
Professional Fundraising Fees: $0
Other Salaries and Wages: $655,722
For more financial information, click here
Official website here: www.mainetechnology.org
What is the mission statement of Maine Technology Institute?
The Maine Technology Institute is dedicated to fostering research and development activities in Maine's technology-centric industries. Working in partnership with both public and private sectors, the institute aims to commercialize new products and services, thereby enhancing the competitive edge of these sectors. The ultimate objective is to create a thriving research, development, and product deployment infrastructure that can sustain clusters of industrial activity and generate new job opportunities for local residents. The institute plays a crucial role in Maine's economic development strategy.
Official website here: www.mainetechnology.org
Who is the CEO of Maine Technology Institute?
Brian Whitney is the President of Maine Technology Institute.
Official website here: www.mainetechnology.org
What is the revenue of Maine Technology Institute?
Maine Technology Institute's revenue in 2022 was $14,853,693.
Official website here: www.mainetechnology.org
Who are the executives of Maine Technology Institute and what are their salaries?
The average compensation at Maine Technology Institute during 2022 was $75,864. There are 10 employees and 130 volunteers at Maine Technology Institute.
Here are 15 key members and their salaries:
- Brian Whitney (President)
- Gregory N Lee (Director Of Finance & Administration)
- Donna Cassese (Chair) [Trustee/Director]
- Raymond Kelley (Treasurer) [Trustee/Director]
- Jake Ward (Secretary) [Trustee/Director]
- Sebastian Belle (Director)
- Dan Belyea (Director)
- Sarah Curran (Director)
- Richard Ganong (Director)
- Heather Johnson (Director)
- Meredith Mendelson (Director)
- Rosaire Pelletier (Director)
- Ian Swanberg (Director)
- Alexander Spaulding (Past Vice Chair) [Trustee/Director]
- Stacey Huth (Past Director)
Official website here: www.mainetechnology.org
Where can I find the form 990 for Maine Technology Institute?
The Maine Technology Institute’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.mainetechnology.org
Learn more at the official website: www.mainetechnology.org
Mission Statement of Maine Technology Institute
Maine Technology Institute, a public-private partnership, is dedicated to fostering research and development in Maine's technology-driven industries. With a mission to commercialize new products and services, the Institute aims to enhance the competitive edge of these sectors and create a thriving industrial ecosystem. By doing so, it contributes significantly to Maine's economic development strategy and lays the groundwork for a robust research, development, and product deployment infrastructure, ultimately generating new employment opportunities for Maine residents.
Impact
This information is meant to be a general summary of Maine Technology Institute. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Maine Technology Institute's impact is significant as it drives innovation and economic growth in the state by funding research and development projects across seven technology sectors. This investment in promising technologies helps bring new products, services, and processes to market, creating high-quality jobs in Maine. Businesses, non-profit organizations, academic institutions, and entrepreneurs benefit from MTI's funding program, which includes grants, loans, and equity investments at various levels. By supporting research and development activities, MTI contributes to the long-term development of a statewide technology infrastructure and enhances the competitive position of Maine's technology-intensive industrial sectors, ultimately creating new opportunities for Maine people.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Royalty Income
Revenue
$159,421
Interest on Loans
Revenue
$155,007
Miscellaneous Revenue
Revenue
$843
Organization Details
Founding Year
1999
Phone
(207) 582-4790
Principal Officer
Brian Whitney
Main Address
8 Venture Avenue Brunswick Landing, Brunswick, ME, 04011
Website
www.mainetechnology.org
NTEE Category
Code: B29 - Education
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