Overview
What is Ben Franklin Technology Partners Corporation?
Ben Franklin Technology Partners Corporation is a Pennsylvania-based organization, specifically situated at 116 Research Drive, Bethlehem, PA. Their primary mission is to boost the economy by aiding early-stage technology companies in securing federal grant funds for innovation and commercialization. Established in 2002, the organization has received over $1.5 million in support from various sources. They provide financial, in-kind, and other forms of assistance to educational institutions and new or existing businesses in Pennsylvania focusing on advanced technology, research, development, training, and education. The organization can also manage funds to support these business entities.
Official website here: www.benfranklin.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Ben Franklin Technology Partners Corporation has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization holds a low score of 58%, with the majority of its board members not being independent, which raises questions about governance and oversight.
Despite the low rating, there are some positive aspects noted in the evaluation. The organization has implemented crucial policies such as a conflict of interest policy, whistleblower policy, and has properly documented board meeting minutes. Additionally, there is no indication of material diversion of assets, reflecting some level of fiscal responsibility.
However, the organization struggles with a high liabilities to assets ratio of 99%, suggesting potential financial instability. The program expense ratio of 67% indicates that a significant portion of its expenses goes towards its programs, but the overall financial health remains a concern that potential donors should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Ben Franklin Technology Partners Corporation legitimate?
Ben Franklin Technology Partners Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ben Franklin Technology Partners Corporation 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: $0
For more financial information, click here
Official website here: www.benfranklin.org
What is the mission statement of Ben Franklin Technology Partners Corporation?
Ben Franklin Technology Partners Corporation is committed to promoting economic development by offering financial assistance, resources, and support to educational institutions and new or existing businesses focused on advanced technology, research, development, training, and education. They also manage funds to aid these entities in their endeavors. Their mission is to foster an environment that encourages innovation and growth in these sectors, ultimately contributing to a stronger and more technologically advanced economy.
Official website here: www.benfranklin.org
Who is the CEO of Ben Franklin Technology Partners Corporation?
Angelo J Valletta is the President of Ben Franklin Technology Partners Corporation.
Official website here: www.benfranklin.org
What is the revenue of Ben Franklin Technology Partners Corporation?
Ben Franklin Technology Partners Corporation's revenue in 2022 was $208,636.
Official website here: www.benfranklin.org
Who are the executives of Ben Franklin Technology Partners Corporation and what are their salaries?
There 12 volunteers at Ben Franklin Technology Partners Corporation.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $431,063
- Other: $49,038
- Compensation: $0
- Related: $380,669
- Other: $60,247
- Compensation: $0
- Related: $221,456
- Other: $91,167
- Compensation: $0
- Related: $289,148
- Other: $22,196
- Compensation: $0
- Related: $163,212
- Other: $34,144
- Compensation: $0
- Related: $118,257
- Other: $34,036
Official website here: www.benfranklin.org
Where can I find the form 990 for Ben Franklin Technology Partners Corporation?
Ben Franklin Technology Partners Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.benfranklin.org
Learn more at the official website: www.benfranklin.org
Mission Statement of Ben Franklin Technology Partners Corporation
Ben Franklin Technology Partners Corporation is dedicated to driving economic development in Pennsylvania. The organization provides a variety of assistance, including financial aid, in-kind resources, and other forms of support, to educational institutions and new businesses aiming to establish a presence in the state. Furthermore, Ben Franklin Technology Partners Corporation extends its assistance to existing businesses within Pennsylvania, particularly those focused on advanced technology, research, and development. The corporation also manages funds to support these entities, demonstrating its commitment to fostering growth and innovation in the tech sector. Overall, Ben Franklin Technology Partners Corporation plays a crucial role in promoting economic development by supporting educational organizations and businesses involved in advanced technology and research activities in Pennsylvania.
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Impact
October, 2024
Ben Franklin Technology Partners Corporation plays a crucial role in driving economic development in Pennsylvania by fostering innovation and supporting early-stage technology companies. Through a range of monetary and in-kind assistance, it helps new and existing businesses engage in advanced technology, research, and development. The organization also invests in initiatives that facilitate training and education, providing a comprehensive support system for businesses seeking to thrive in a competitive landscape.
One significant aspect of their impact is the establishment of the Innovation Partnership (IPart) in 2002, which focuses specifically on helping Pennsylvania's technology firms secure federal grant funding. This initiative has garnered over $1.5 million in support from various sources, including the Commonwealth of Pennsylvania and the Federal Government, demonstrating a strong commitment to enhancing the state's capacity for innovation and commercialization.
The organization's efforts not only bolster individual businesses but also contribute to the broader economic health of Pennsylvania, creating jobs, stimulating local economies, and positioning the state as a hub for technological advancement. By aligning resources and support for educational organizations and business entities, Ben Franklin Technology Partners Corporation plays an essential role in shaping the future of Pennsylvania's economy.
This information is meant to be a general summary of Ben Franklin Technology Partners Corporation. 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: $8
- Gross Receipts: $208,636
Assets and Liabilities:
- Total Assets: $285,120
- Total Liabilities: $282,899
- Net Assets: $2,221
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Organization Details
Founding Year
2004
Phone
(610) 758-5200Principal Officer
Angelo J Valletta
Main Address
116 Research Drive, Bethlehem, PA, 180154731
Website
www.benfranklin.orgNTEE Category
Code: U12 - Science research
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