Program areas at MTI
The Maine Technology Institute (MTI) invests in promising technologies by funding research and development projects in the state's seven technology sectors. MTI's competitive awards bring new products, services and processes to the market, generating high-quality jobs across Maine. Businesses, non-profit organizations, academic institutions and entrepreneurs are eligible for funding under MTI's program, which is outlined below:Initial contact is made when those interested complete an online intake form. Meetings are established with entities proposing projects. Using an assessment tool, the potential applicant and the Institute review eight different areas including: Team Ability, Innovation and Value Proposition, Customer and Market, Business/Organization Model, and Scope of Work/Budget. At this point the process may continue with the Institute or may be referred to a business partner. If the determination is to apply for support, the appropriate level of funding request will be determined, and the application will be submitted. The funding level will also determine the level of due diligence needed with the application. Funding levels may also help to determine the nature of the award. The Institute awards grants, loans and equity investments. Successful applicants who receive funds are also required to submit reporting on their projects for five years post award.Four funding levels are used in the application process, as follows:Range One Awards less than $25,000Range Two Awards between $25,000 and $100,000Range Three Awards between $100,000 and $250,000Range Four Awards over $250,000
Personnel at MTI
Name | Title | Compensation | Date of data |
---|
Brian Whitney | President | $0 | 2023-04-21 |
Greg Lee | Director of Finance and Administration | | 2023-10-23 |
Gregory N Lee | Past Director of Finance and Administration | $86,761 | 2022-06-30 |
Raymond Kelley | Treasurer | $0 | 2022-06-30 |
Donna Cassese | Vice Chairman / Director / Board Member | $0 | 2022-06-30 |
...and 7 more key personnel |
Financials for MTI
Revenues | FYE 06/2022 | FYE 06/2021 | % Change |
---|
Total grants, contributions, etc. | $14,371,752 | $9,813,047 | 46.5% |
Program services | $315,271 | $561,502 | -43.9% |
Investment income and dividends | $25,565 | $378,252 | -93.2% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $141,105 | $0 | 999% |
Net income from fundraising events | $0 | $0 | - |
Net income from gaming activities | $0 | $0 | - |
Net income from sales of inventory | $0 | $0 | - |
Miscellaneous revenues | $0 | $0 | - |
Total revenues | $14,853,693 | $10,752,801 | 38.1% |
Organizations like MTI
Organization | Type | Location | Revenue |
---|
Indiana Innovation Institute | 501(c)(3) | Bloomington, IN | $30,438,388 |
Louisiana Cancer Research Center (LCRC) | 501(c)(3) | New Orleans, LA | $17,990,650 |
Electricore | 501(c)(3) | Valencia, CA | $16,320,847 |
ASU Research Enterprise | 501(c)(3) | Tempe, AZ | $8,204,365 |
Texas A&M Research Foundation | 501(c)(3) | College Station, TX | $71,408,411 |
Mississippi State University Research and Technology Corporation | 501(c)(3) | Mississippi State, MS | $3,819,155 |
Van Andel Institute (VAI) | 501(c)(3) | Grand Rapids, MI | $4,823,357 |
Norfolk State University Research and Innovation Foundation | 501(c)(3) | Norfolk, VA | $6,046,806 |
Pacific Northwest Gigapop (PNWGP) | 501(c)(3) | Seattle, WA | $6,831,709 |
Florida State University Research Foundation (FSURF) | 501(c)(3) | Tallahassee, FL | $28,107,542 |
Data update history
July 10, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 1, 2023
Updated personnel
Identified 1 new personnel
June 13, 2023
Posted financials
Added Form 990 for fiscal year 2021
March 1, 2023
Used new vendors
Identified 1 new vendor, including
September 28, 2021
Used new vendors
Identified 1 new vendor, including
Nonprofit Types
Research centersCharities
Issues
Science and technologyEducation
Characteristics
Political advocacyConducts researchState / local levelReceives government fundingCommunity engagement / volunteeringTax deductible donations
General information
- Address
- 8 Venture Ave Brunswick Landing
- Brunswick, ME 04011
- Metro area
- Portland-South Portland, ME
- County
- Cumberland County, ME
- Website URL
- mainetechnology.org/Â
- Phone
- (207) 582-4790
- Facebook page
- MaineTechnologyInstituteÂ
- Twitter profile
- @mtimaineÂ
IRS details
- EIN
- 01-0529871
- Fiscal year end
- June
- Taxreturn type
- Form 990
- Year formed
- 1999
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- U40: Engineering and Technology Research, Services
- NAICS code, primary
- 5417: Scientific Research and Development Services
- Parent/child status
- Independent
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