Overview
What is Maine International Trade Center?
The Maine International Trade Center, located at 2 Portland Fish Pier 204, Portland, ME 04101, is a nonprofit organization dedicated to stimulating Maine's economy. They achieve this goal by arranging trade missions annually, which provide direct access to potential international trade partners and valuable networking opportunities. These missions cater particularly to first-time exporters or companies facing challenges in penetrating specific countries or markets. The organization takes care of all mission-related details, such as transportation, translators, and business meetings, ensuring a seamless and productive experience for participating companies.
Official website here: www.mitc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, earning it a Two-Star out of Four Star rating.
The Maine International Trade Center has received a moderate rating of 69%, indicating some strengths and weaknesses in its operations. Notably, the organization boasts a high level of independent board members, with 92% of its board being independent, which supports good governance practices. Additionally, the organization has scored well in areas related to financial oversight, including an independent audit and no material diversion of assets.
However, there are significant areas for improvement, particularly regarding its accountability measures. The center lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention policy, which are critical for transparency and ethical governance. Furthermore, the absence of its tax form on the nonprofit's website and a less favorable liabilities to assets ratio highlight potential financial management concerns that could impact donor confidence and future funding opportunities.
This AI summary has been generated from information found on Charity Navigator.
Is Maine International Trade Center legitimate?
Maine International Trade Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maine International Trade Center 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $444,077
For more financial information, click here
Official website here: www.mitc.com
What is the mission statement of Maine International Trade Center?
The Maine International Trade Center's mission is centered around boosting the economy by facilitating increased international trade in goods and services, as well as related activities. To accomplish this, they actively promote and organize various trade missions annually, providing valuable one-on-one meetings with potential foreign trade partners and unique networking opportunities for businesses. These trade missions are particularly beneficial for new exporters or companies facing challenges in expanding into specific countries or markets, with the Trade Center taking care of all necessary details, including transportation, translators, and business meetings.
Official website here: www.mitc.com
Who is the CEO of Maine International Trade Center?
Wade Merritt is the President of Maine International Trade Center.
Official website here: www.mitc.com
What is the revenue of Maine International Trade Center?
Maine International Trade Center's revenue in 2022 was $1,481,005.
Official website here: www.mitc.com
Who are the executives of Maine International Trade Center and what are their salaries?
The average compensation at Maine International Trade Center during 2022 was $31,720. There are 14 employees and 13 volunteers at Maine International Trade Center.
Here are 14 key members and their salaries:
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Official website here: www.mitc.com
Where can I find the form 990 for Maine International Trade Center?
Maine International Trade Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mitc.com
Learn more at the official website: www.mitc.com
Mission Statement of Maine International Trade Center
The Maine International Trade Center, a prominent organization, is dedicated to enhancing Maine's economy by fostering increased international trade in goods and services and related activities. Its mission is to promote the expansion of Maine's economic growth through various means associated with international trade. To achieve this goal, the center organizes annual gubernatorial trade missions, along with smaller missions, offering businesses unique networking opportunities and one-on-one meetings with potential foreign trade partners. These trade missions are particularly beneficial for first-time exporters or companies grappling with expanding into a specific country or market. The Trade Center takes care of the mission's details, including transportation, translators, and arranging business meetings, making it an invaluable resource for companies seeking to broaden their international trade horizons.
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Impact
July, 2024
Maine International Trade Center plays a crucial role in expanding Maine's economy through increased international trade in goods and services. By organizing trade missions that facilitate one-on-one meetings with potential foreign trade partners and unique networking opportunities, the Trade Center helps companies, particularly first-time exporters or those facing challenges in expanding into specific markets, to connect and grow their international business. Through its efforts, the Trade Center contributes to boosting Maine's economy and promoting global commerce for businesses in the state.
This information is meant to be a general summary of Maine International Trade Center. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: $327
- Program Service Revenue: $13,853
- Gross Receipts: $1,481,005
Assets and Liabilities:
- Total Assets: $1,240,638
- Total Liabilities: $254,268
- Net Assets: $986,370
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Revenues
Revenue
$13,853
Organization Details
Founding Year
1996
Phone
(207) 541-7400Principal Officer
Wade Merritt
Main Address
2 Portland Fish Pier 204, Portland, ME, 04101
Website
www.mitc.comNTEE Category
Code: Q31 - International
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