Form 990 for tax year 2023
Filed by BEN FRANKLIN TECHNOLOGY PARTNERS OF NORTHEASTERN PENNSYLVANIA INC.
Totals
- Total revenue
- $9,957,018
- Total expenses
- $11,762,513
- Contributions and grants received
- $6,756,368
- Grants paid
- $504,200
- Program service revenue
- $1,332,448
- Investment income
- $1,868,202
- Other revenue
- $0
- Total assets, end of year
- $66,334,468
- Total liabilities, end of year
- $2,611,706
- Net assets or fund balances, end of year
- $63,722,762
- Program services expenses (Part IX)
- $10,198,853
- Management and general expenses
- $1,550,687
- Fundraising expenses
- $12,973
- Program service expenses (Part III)
- $10,198,853
Program services were 86.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$6,711,013
-
1f · All other contributions, gifts and grants
$45,355
-
1g · Noncash contributions included above
$0
-
2a · Program service revenue: BUSINESS INCUBATOR REVENUE
total $1,058,700 · related or exempt $1,058,700
-
2b · Program service revenue: CLIENT LOAN INTEREST
total $262,508 · related or exempt $262,508
-
2c · Program service revenue: EVENTS TO SHOWCASE CLIENTS
total $11,240 · related or exempt $11,240
-
3 · Investment income
total $461,256 · unrelated business $21,591 · excluded $439,665
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $9,979,409 · other assets $2,382,453
-
7b · Less cost or other basis and sales expenses
securities $9,762,337 · other assets $1,192,579
-
7c · Gain or loss
securities $217,072 · other assets $1,189,874
-
7d · Net gain or loss
total $1,406,946 · excluded $1,406,946
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $504,200 · program services $504,200
-
2 · Grants to domestic individuals
total $0 · program services $0
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $884,622 · program services $561,975 · management and general $321,223 · fundraising $1,424
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,480,026 · program services $1,128,129 · management and general $350,356 · fundraising $1,541
-
8 · Pension plan contributions
total $120,703 · program services $91,312 · management and general $29,164 · fundraising $227
-
9 · Other employee benefits
total $238,156 · program services $128,955 · management and general $108,839 · fundraising $362
-
10 · Payroll taxes
total $107,962 · program services $84,761 · management and general $23,009 · fundraising $192
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $65,017 · management and general $65,017
-
11c · Fees: accounting
total $57,503 · management and general $57,503
-
11d · Fees: lobbying
total $33,000 · management and general $33,000
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $197,596 · management and general $197,596
-
11g · Fees: other
total $583,045 · program services $539,927 · management and general $43,118
-
12 · Advertising and promotion
total $9,227 · fundraising $9,227
-
13 · Office expenses
total $136,848 · program services $122,957 · management and general $13,891
-
14 · Information technology
total $166,253 · program services $11,197 · management and general $155,056
-
15 · Royalties
total $0
-
16 · Occupancy
total $1,447,926 · program services $1,438,259 · management and general $9,667
-
17 · Travel
total $43,054 · program services $22,451 · management and general $20,603
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $81,523 · program services $79,426 · management and general $2,097
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,528,398 · program services $1,528,398
-
23 · Insurance
total $21,934 · management and general $21,934
-
24a · Other expenses: ALLOWANCE FOR DOUBTFUL LOANS
total $3,943,087 · program services $3,943,087
-
24b · Other expenses: MISCELLANEOUS
total $112,433 · program services $13,819 · management and general $98,614
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $6,716,022 · end of year $4,316,542
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $33,336 · end of year $15,904
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $1,999,111 · end of year $1,620,949
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $119,627 · end of year $96,447
-
10a · Land, buildings and equipment: cost or other basis
$38,393,688
-
10b · Land, buildings and equipment: accumulated depreciation
$19,683,697
-
10c · Land, buildings and equipment, net
beginning of year $20,233,596 · end of year $18,709,991
-
11 · Investments: publicly traded securities
beginning of year $25,574,043 · end of year $28,810,177
-
12 · Investments: other securities
beginning of year $8,127,027 · end of year $8,968,971
-
13 · Investments: program-related
beginning of year $3,276,114 · end of year $3,736,114
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $60,025 · end of year $59,373
-
17 · Accounts payable and accrued expenses
beginning of year $123,802 · end of year $67,232
-
18 · Grants payable
beginning of year $41,168 · end of year $77,956
-
19 · Deferred revenue
beginning of year $3,698,747 · end of year $1,077,945
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,458,972 · end of year $1,388,573
-
27 · Net assets without donor restrictions
beginning of year $60,816,212 · end of year $63,722,762
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
OUR MISSION IS TO PROMOTE, SUSTAIN AND INVEST IN THE TRANSFORMATION OF OUR REGIONAL ECONOMY THROUGH INNOVATION AND PARTNERING. WE BUILD LONG-TERM RELATIONSHIPS WITH OUR CLIENTS BY APPLYING EXPERTISE, CREATIVITY, AND FOCUSED RESOURCES TO ADDRESS BUSINESS CHALLENGES. AS THE COMMONWEALTH'S TECHNOLOGY LEADER, WE LEVERAGE OUR CREDIBILITY AND DISTINCTIVENESS TO PROMOTE HIGH-VALUE BUSINESS GROWTH AND ECONOMIC DEVELOPMENT.
Activities or mission (Part I)
Our mission is to promote, sustain and invest in the transformation of our regional economy through innovation and partnering.
-
Business and Technical Assistance Projects - Companies are linked with universities, funding and other resources to help them prosper through innovation. The strategy includes developing early-stage, technology-oriented companies and helping established manufacturers creatively apply new technology and business practices.
Expenses $5,439,988 · Grants $421,700 · Revenue $262,508
-
Technology Infrastructure Activities - Promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies. Ben Franklin Technology Partners of NEPA inaugurated one of the first business incubators in the nation in 1983 and managed and developed its award-winning incubator to be among the best. In 2007, BFTP/NEP relocated its original incubator across the street on Lehigh University's Mountaintop Campus to Ben Franklin TechVentures, a former Bethlehem Steel laboratory. The National Business Incubation Association named Ben Franklin TechVentures the 2012 National Incubator of the Year, a remarkable repeat of Ben Franklin's 2001 honor. Ben Franklin TechVentures brings together entrepreneurs, Ben Franklin staff, and Lehigh faculty and students to accelerate the growth of the region's technology economy. In 2010, the Partners purchased the Bloomsburg Innovation Center located in Bloomsburg, PA.
Expenses $4,758,865 · Grants $82,500 · Revenue $1,069,940
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Nathaniel Urban
Board Member
- Total calculated
- $721,866
- From this org
- $0
- From related orgs
- $668,637
- Other
- $53,229
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $661,155 related
- Bonus
- $0
- Other
- $0 + $7,482 related
- Deferred
- $0 + $29,935 related
- Nontaxable benefits
- $0 + $23,294 related
- Filer's total
- $0 + $721,866 related
-
Angelo J Valletta
CEO/President
- Total calculated
- $334,487
- From this org
- $311,092
- From related orgs
- $0
- Other
- $23,395
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $309,781
- Bonus
- $0
- Other
- $1,311
- Deferred
- $21,920
- Nontaxable benefits
- $1,475
- Filer's total
- $334,487
-
Kathy Ann Minnich
EVP/CAO/CFO/Treasurer/Secy
- Total calculated
- $227,949
- From this org
- $192,584
- From related orgs
- $0
- Other
- $35,365
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,475
- Bonus
- $0
- Other
- $1,109
- Deferred
- $19,685
- Nontaxable benefits
- $15,680
- Filer's total
- $227,949
-
Wayne Barz
CIO/Asst Treasurer/Asst Secy
- Total calculated
- $185,522
- From this org
- $154,669
- From related orgs
- $0
- Other
- $30,853
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,122
- Bonus
- $0
- Other
- $547
- Deferred
- $15,351
- Nontaxable benefits
- $15,502
- Filer's total
- $185,522
-
Kenneth Okrepkie
Regional Mgr Pocono
- Total calculated
- $139,120
- From this org
- $127,707
- From related orgs
- $0
- Other
- $11,413
- Hours/week
- 40
-
Melanie Kohler
Chief Technology Officer
- Total calculated
- $132,597
- From this org
- $123,126
- From related orgs
- $0
- Other
- $9,471
- Hours/week
- 40
-
Barbara Lampe
Vice Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Jan Heller
Board Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Kenneth P Guito
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Patricia Johnson
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
R Chadwick Paul Jr
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Glen Bressner
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Robert Oster
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Dr Jill Murray
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Philip Crowley Esq
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jacqueline Hollenbach
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Eric Schnabel
BOARD MEMBER BEGAN JUNE 2023
- Total calculated
- $0
- Hours/week
- 2
-
David Vawdrey
BOARD MEMBER BEGAN SEP 2023
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Form 990, Schedule J, Part I, Line 3
- A third party consultant is contracted to assist in the compensation review for all employees. The officers and key employees are approved by the independent Executive Committee of the board during an executive session and is recorded in the minutes. Salary surveys and other non-profit 990 returns are reviewed at that time. Non-officers and non-key employees are approved by the Chairman of the Board using the data from salary surveys and other non-profit 990 returns.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
FOLLETT
$48,377
BUSINESS AND TECHNICAL ASSISTANCE
-
BOND METAL SURPLUS INC
$34,972
BUSINESS AND TECHNICAL ASSISTANCE
-
FM BROWN
$25,000
BUSINESS AND TECHNICAL ASSISTANCE
-
HUMAN ACTIVE TECHNOLOGY
$25,000
BUSINESS AND TECHNICAL ASSISTANCE
-
POWERRAIL
$25,000
BUSINESS AND TECHNICAL ASSISTANCE
-
PRECISION MEDICAL
$25,000
BUSINESS AND TECHNICAL ASSISTANCE
-
SILBERLINE MANUFACTURING
$25,000
BUSINESS AND TECHNICAL ASSISTANCE
-
EAM MOSCA
$22,275
BUSINESS AND TECHNICAL ASSISTANCE
-
LEVAN MACHINE CO
$21,291
BUSINESS AND TECHNICAL ASSISTANCE
-
UNIVERSAL COMPRESSED AIR
$21,145
BUSINESS AND TECHNICAL ASSISTANCE
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(3) · University · PA
Directly controlled by NA
-
501(c)(3) · Economic Dev · PA · controlled entity
Directly controlled by Lehigh Univ
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202521349349312732
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