Ben Franklin Technology Partners Corporation
- Assets
- $254.8k
- Revenue
- $395.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bethlehem, PA
- Founding
- 12/2004
- Data as of
- 06/2023
- EIN
- 20-1326433
Organization Overview
Ben Franklin Technology Partners Corporation is located in Bethlehem, PA. The organization was established in 2004. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ben Franklin Technology Partners Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Ben Franklin Technology Partners Corporation generated $395.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $395.4k during the year ending 06/2023. While expenses have increased by 7.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT. THE PARTNERS PROVIDE MONETARY, IN KIND, AND OTHER ASSISTANCE TO EDUCATIONAL ORGANIZATIONS AND NEW BUSINESS ENTITIES SEEKING TO LOCATE IN PENNSYLVANIA AND EXISTING BUSINESS ENTITIES LOCATED IN PENNSYLVANIA FOR ADVANCED TECHNOLOGY, RESEARCH AND DEVELOPMENT, TRAINING, EDUCATION, AND RELATED ACTIVITIES, INCLUDING MAKING INVESTMENTS IN OR ACTING AS THE MANAGER OF A FUND CREATED TO SUPPORT SUCH BUSINESS ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT PROGRAMS - IN THE FALL OF 2002, PENNSYLVANIA'S TECHNOLOGY-FOCUSED ECONOMIC DEVELOPMENT COMMUNITY CAME TOGETHER TO FORM THE INNOVATION PARTNERSHIP (IPART). THE PARTNERSHIP'S MISSION IS TO ASSIST PENNSYLVANIA'S EARLY-STAGE TECHNOLOGY COMPANIES TO SECURE A GREATER SHARE OF FEDERAL GRANT DOLLARS TO SUPPORT INNOVATION AND COMMERCIALIZATION. SINCE ITS INCEPTION, THE IPART HAS BENEFITTED FROM MORE THAN $1.5 MILLION IN SUPPORT FROM THE COMMONWEALTH, THE FEDERAL GOVERNMENT, AND PARTNER ORGANIZATIONS. IN ADDITION TO THE COMMONWEALTH'S SUPPORT, THE ORGANIZATION RECEIVED FUNDING FROM THE U.S. SMALL BUSINESS ADMINISTRATION FOR FEDERAL AND STATE TECHNOLOGY PROGRAMS (FAST).
ECONOMIC DEVELOPMENT ACTIVITIES SUPPORTING THE BEN FRANKLIN TECHNOLOGY PARTNERSHIP IN PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Lunak Ended Oct 2022 Treasurer | Trustee | 2 | $0 |
Scott Nissenbaum Vice President | OfficerTrustee | 2 | $0 |
Venkatesh Raju Started Oct 2022 Board Member | OfficerTrustee | 2 | $0 |
Stephen Brawley Board Member | OfficerTrustee | 2 | $0 |
Angelo J Valletta President | OfficerTrustee | 2 | $0 |
Kathy Ann Minnich Assistant Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $230,482 |
| Government grants | $103,531 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $395,663 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $395,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $165,181 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,120 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,840 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,577 |
| All other expenses | $0 |
| Total functional expenses | $395,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $37,479 |
| Pledges and grants receivable | $125,000 |
| Accounts receivable, net | $92,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $254,805 |
| Accounts payable and accrued expenses | $37,500 |
| Grants payable | $125,000 |
| Deferred revenue | $89,780 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $252,280 |
| Net assets without donor restrictions | $2,525 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $254,805 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pittsburgh Conference On Analytic Chemistry & Applied Spectroscopy Monroeville, PA | $9,032,174 | $5,378,168 |
American Friends Of Zichron Nechama Inc Brooklyn, NY | $0 | $3,267,099 |
Eth Zurich Foundation Usa Inc New York, NY | $24,060 | $1,226,843 |
Ben Franklin Technology Partners Corporation Bethlehem, PA | $254,805 | $395,667 |
Csab Inc Annapolis, MD | $1,233,680 | $389,557 |
American Friends Of The Us-Israel Binational Science Foundation North Bethesda, MD | $20,552 | $77,500 |