Bensalem Economic Development Corp
- Assets
- $1.5m
- Revenue
- $108.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Bensalem, PA
- Founding
- 02/2003
- Data as of
- 12/2021
- EIN
- 75-2977069
Organization Overview
Bensalem Economic Development Corp is located in Bensalem, PA. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bensalem Economic Development Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Bensalem Economic Development Corp generated $108.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $77.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE BUSINESS WORKING WITH GOVERNMENT IN A FRIENDLY ENVIRONMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FACILITATE BUSINESS WORKING WITH GOVERNMENT IN A FRIENDLY ENVIRONMENT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Cummings Board Of Director | Trustee | 1 | $26,000 |
John Costello Board Of Director | Trustee | 0 | $0 |
Bob Braubitz Board Of Director | Trustee | 0 | $0 |
Jack Meyers Board Of Director | Trustee | 0 | $0 |
Sam Madulla Executive Director | Trustee | 30 | $0 |
Matt Etzrodt Board Of Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,045 |
| Investment income | $74,397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $20,827 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,269 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $26,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $226 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $892 |
| Advertising and promotion | $4,315 |
| Office expenses | $988 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,704 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,971 |
| All other expenses | $0 |
| Total functional expenses | $77,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $126,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,362,585 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,488,681 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,488,681 |
| 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 | $1,488,681 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bensalem Economic Development Corp has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Albert W Bader Foundation Inc Philadelphia, PA PURPOSE: BENSALEM TOWNSHIP CHARITY CHALLENGE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gs1 Go Gsmp Inc Ewing, NJ | $1,816,675 | $9,656,925 |
American Urologigal Association Inc Linthicum Heights, MD | $11,900,601 | $8,448,831 |
Rockland Paradmedic Services Inc Chestnut Ridge, NY | $9,826,544 | $8,654,302 |
Intermodal Association Of North America Inc Calverton, MD | $29,793,038 | $11,206,056 |
Valley Forge Convention & Visitors Bureau Ltd King Of Prussia, PA | $5,553,675 | $9,336,877 |
New York State Society Of Cpas New York, NY | $15,747,345 | $10,100,943 |
Cincinnati Usa Regional Chamber Foundation Cincinnati, OH | $5,241,564 | $8,994,630 |
My Sisters Place Inc White Plains, NY | $7,100,374 | $7,997,119 |
The Partnership For New York City Inc New York, NY | $50,256,117 | $10,277,356 |
Cat Nms Llc New York, NY | $0 | $6,303,484 |
Iab Technology Laboratory Inc New York, NY | $6,942,203 | $8,765,752 |
Hotel Association Of New York City Inc New York, NY | $10,787,267 | $6,155,523 |