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Nonprofiteer
← BEN FRANKLIN TECHNOLOGY PARTNERS CORPORATION

Form 990 for tax year 2022

Filed by BEN FRANKLIN TECHNOLOGY PARTNERS CORPORATION.

Totals

Total revenue
$395,667
Total expenses
$395,363
Contributions and grants received
$395,663
Grants paid
$165,181
Program service revenue
$0
Investment income
$4
Other revenue
$0
Total assets, end of year
$254,805
Total liabilities, end of year
$252,280
Net assets or fund balances, end of year
$2,525
Program services expenses (Part IX)
$320,430
Management and general expenses
$74,933
Fundraising expenses
$0
Program service expenses (Part III)
$320,430

Program services were 81.0% 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

    $230,482

  • 1e · Government grants (contributions)

    $103,531

  • 1f · All other contributions, gifts and grants

    $61,650

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $4 · related or exempt $0 · unrelated business $0 · excluded $4

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $165,181 · program services $165,181

  • 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 $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $12,120 · program services $0 · management and general $12,120 · fundraising $0

  • 11d · Fees: lobbying

    total $60,000 · program services $0 · management and general $60,000 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $87,840 · program services $87,840 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $1,684 · program services $1,684 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $2,577 · program services $0 · management and general $2,577 · fundraising $0

  • 24a · Other expenses: Software Subscription

    total $35,125 · program services $35,125 · management and general $0 · fundraising $0

  • 24b · Other expenses: Conference sponsorship and Membership Dues

    total $30,600 · program services $30,600 · management and general $0 · fundraising $0

  • 24c · Other expenses: Miscellaneous

    total $236 · program services $0 · management and general $236 · fundraising $0

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 $123,501 · end of year $37,479

  • 3 · Pledges and grants receivable

    beginning of year $146,469 · end of year $125,000

  • 4 · Accounts receivable

    beginning of year $15,150 · end of year $92,326

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $37,500

  • 18 · Grants payable

    beginning of year $146,469 · end of year $125,000

  • 19 · Deferred revenue

    beginning of year $136,430 · end of year $89,780

  • 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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,221 · end of year $2,525

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

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.

Activities or mission (Part I)

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.

  • 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).

    Expenses $165,181 · Grants $165,181 · Revenue $165,181

  • Economic development activities supporting the Ben Franklin Technology Partnership in Pennsylvania.

    Expenses $155,249 · Revenue $155,249

  • ..

As filed on the 2022 return.

Listed in Part VII

  • Richard Lunak Ended Oct 2022

    Treasurer

    Total calculated
    $566,322
    From this org
    $0
    From related orgs
    $513,325
    Other
    $52,997
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $340,568 related
    Bonus
    $0 + $172,097 related
    Other
    $0 + $660 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $16,397 related
    Filer's total
    $0 + $566,322 related

  • Scott Nissenbaum

    Vice President

    Total calculated
    $449,161
    From this org
    $0
    From related orgs
    $394,420
    Other
    $54,741
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $318,331 related
    Bonus
    $0 + $76,089 related
    Other
    $0
    Deferred
    $0 + $18,289 related
    Nontaxable benefits
    $0 + $36,452 related
    Filer's total
    $0 + $449,161 related

  • Venkatesh Raju Started Oct 2022

    Board Member

    Total calculated
    $401,225
    From this org
    $0
    From related orgs
    $355,029
    Other
    $46,196
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,118 related
    Bonus
    $0 + $64,911 related
    Other
    $0
    Deferred
    $0 + $35,542 related
    Nontaxable benefits
    $0 + $10,654 related
    Filer's total
    $0 + $401,225 related

  • Stephen Brawley

    Board Member

    Total calculated
    $331,556
    From this org
    $0
    From related orgs
    $233,428
    Other
    $98,128
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,072 related
    Bonus
    $0
    Other
    $0 + -$2,644 related
    Deferred
    $0 + $90,097 related
    Nontaxable benefits
    $0 + $8,031 related
    Filer's total
    $0 + $331,556 related

  • Angelo J Valletta

    President

    Total calculated
    $316,282
    From this org
    $0
    From related orgs
    $299,120
    Other
    $17,162
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,866 related
    Bonus
    $0
    Other
    $0 + $1,254 related
    Deferred
    $0 + $15,708 related
    Nontaxable benefits
    $0 + $1,454 related
    Filer's total
    $0 + $316,282 related

  • Kathy Ann Minnich

    Assistant Treasurer

    Total calculated
    $206,905
    From this org
    $0
    From related orgs
    $177,041
    Other
    $29,864
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,879 related
    Bonus
    $0
    Other
    $0 + $1,162 related
    Deferred
    $0 + $14,583 related
    Nontaxable benefits
    $0 + $15,281 related
    Filer's total
    $0 + $206,905 related

  • Ryan Glenn

    Secretary

    Total calculated
    $155,920
    From this org
    $0
    From related orgs
    $116,588
    Other
    $39,332
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,654 related
    Bonus
    $0
    Other
    $0 + -$10,066 related
    Deferred
    $0 + $11,766 related
    Nontaxable benefits
    $0 + $27,566 related
    Filer's total
    $0 + $155,920 related

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

None.

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

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

  • Ben Franklin Technology Partners CNP

    $165,181

    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).

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 March 2024
IRS schema version
2022v5.0
Source object
202410809349300716

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