Overview
What is Ben Franklin Technology Ptrs Of Se Pa?
Ben Franklin Technology Partners of Southeastern Pennsylvania is a public-private partnership dedicated to fostering economic growth and job creation in the region. Established in 1982, this nonprofit organization provides capital investment, business, and technical assistance to technology-focused entrepreneurs and innovators. By offering one-on-one mentoring, networking, and specialized expertise in areas such as product development, marketing, funding, accounting, and operations, Ben Franklin aims to help grow early-stage companies and accelerate their path to commercial success. With a mission to drive equitable economic growth and positive social impact, the organization has supported over 2,000 companies, contributing to an impact of more than $5 billion and 32,000 jobs in the Philadelphia area. Ben Franklin invests in regional seed funds, angel groups, and accelerators, including Emerald Stage 2 Ventures and Rittenhouse Ventures. Additionally, the organization maintains a robust partnership with local universities, leveraging over $500 million in funding to the region.
Official website here: www.sep.benfranklin.org
What are the reviews and ratings of this charity?
Ben Franklin Technology Partners of Southeastern Pennsylvania has achieved an 84% score from Charity Navigator, which earns it a Three-Star out of Four Star rating. This score reflects robust accountability and finance practices, with a strong emphasis on independent board governance and comprehensive financial oversight. However, its program expense ratio is relatively low at 59.81%, indicating a potential area for improvement in aligning spending more effectively with mission-driven activities.
The organization boasts a high degree of financial accountability, with metrics such as a low liabilities to assets ratio and well-managed financial audits. Their governance structure is commendable, with a fully independent board and critical policies like whistleblower and conflict of interest policies in place. Yet, a few elements like the posting of tax forms on the website are missing, suggesting room for enhanced transparency.
In terms of Culture & Community, Ben Franklin Technology Partners excels with a perfect score. The organization actively collects and uses feedback, successfully engaging with its stakeholders despite challenges in obtaining honest responses. The absence of an Impact & Measurement score means that while their processes are solid, detailed outcomes of their community impact aren't thoroughly evaluated through Charity Navigator's current methodology.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Ben Franklin Technology Ptrs Of Se Pa?
There are currently no overall ratings available for Ben Franklin Technology Partners of Southeastern Pennsylvania, as the nonprofit has received a total of four unfiltered reviews on Facebook. Among these reviews, one stands out with a strong negative sentiment regarding an individual's experience.
The lone review expresses significant dissatisfaction with a staff member, describing that person's behavior as biased and focused solely on personal gain. This single narrative indicates that there may be concerns about the professionalism and knowledge of certain team members. Overall, the limited feedback suggests potential issues that could affect how users perceive the organization.
This AI summary has been generated from reviews found on Facebook.
Is Ben Franklin Technology Ptrs Of Se Pa legitimate?
Ben Franklin Technology Ptrs Of Se Pa is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ben Franklin Technology Ptrs Of Se Pa 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: $1,119,411
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,784,831
For more financial information, click here
Official website here: www.sep.benfranklin.org
What is the mission statement of Ben Franklin Technology Ptrs Of Se Pa?
Ben Franklin Technology Partners of Southeastern Pennsylvania's mission is to stimulate economic growth and innovation in the region through initiatives and partnerships. They primarily achieve this by accelerating the development of new technologies and their commercialization, primarily through investments in and support of technology-based enterprises. The organization aims to drive equitable economic growth and positive, sustainable social impact by cultivating a regional ecosystem that fosters, mentors, and invests in entrepreneurs developing healthcare and technology-based innovations. They provide early-stage companies with customized, one-on-one assistance in product development and commercialization, marketing, fundraising, accounting, operations, and human resources, among other services. Ben Franklin has supported over 2,000 companies since 1982, delivering an impact of over $5 billion and creating over 32,000 jobs in the Philadelphia region. They maintain partnerships with various initiatives, including seed funds, angel groups, and accelerators, to invest in and support regional entrepreneurs.
Official website here: www.sep.benfranklin.org
Who is the CEO of Ben Franklin Technology Ptrs Of Se Pa?
Scott Nissenbaum is the President And Ceo of Ben Franklin Technology Ptrs Of Se Pa. The CEO's salary of Ben Franklin Technology Ptrs Of Se Pa is $380,669 and their total compensation is $441,342.
Official website here: www.sep.benfranklin.org
What is the revenue of Ben Franklin Technology Ptrs Of Se Pa?
Ben Franklin Technology Ptrs Of Se Pa's revenue in 2022 was $11,508,194.
Official website here: www.sep.benfranklin.org
Who are the executives of Ben Franklin Technology Ptrs Of Se Pa and what are their salaries?
The average compensation at Ben Franklin Technology Ptrs Of Se Pa during 2022 was $132,547. There are 37 employees and 22 volunteers at Ben Franklin Technology Ptrs Of Se Pa.
Here are 33 key members and their salaries (Ben Franklin Technology Ptrs Of Se Pa's CEO's salary is $380,669 and their total compensation is $441,342):
- Compensation: $380,669
- Related: $0
- Other: $60,673
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- Compensation: $194,982
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- Other: $23,069
- Compensation: $280,559
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- Other: $32,675
- Compensation: $82,486
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- Other: $35,654
- Compensation: $199,344
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- Other: $15,817
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- Compensation: $227,620
- Related: $0
- Other: $50,943
- Compensation: $221,071
- Related: $0
- Other: $51,869
- Compensation: $230,218
- Related: $0
- Other: $19,934
- Compensation: $218,024
- Related: $0
- Other: $31,560
- Compensation: $238,681
- Related: $0
- Other: $19,613
Official website here: www.sep.benfranklin.org
Where can I find the form 990 for Ben Franklin Technology Ptrs Of Se Pa?
Ben Franklin Technology Ptrs Of Se Pa's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sep.benfranklin.org
Learn more at the official website: www.sep.benfranklin.org
Mission Statement of Ben Franklin Technology Ptrs Of Se Pa
Ben Franklin Technology Partners of Southeastern Pennsylvania, often referred to as Ben Franklin, is an organization that plays a pivotal role in stimulating economic growth and fostering innovation in the region. Their mission is multifaceted, primarily focusing on accelerating the development of new technologies and their commercialization. They achieve this by investing in and supporting technology-based enterprises, acting as the investor of first resort for growing tech companies.
Ben Franklin provides these enterprises with a wide range of services, including customized, one-on-one real-world knowledge in areas such as product development, commercialization, marketing, fundraising, accounting, operations, and human resources. This comprehensive support system, coupled with access to a vast network of advisors and partners, empowers companies to reach their milestones and accelerate their path to commercial success.
Furthermore, Ben Franklin drives equitable economic growth and positive, sustainable social impact by cultivating a regional ecosystem that fosters, mentors, and invests in entrepreneurs. These entrepreneurs are developing and commercializing healthcare and technology-based innovations, contributing significantly to the region's economy. Since its inception in 1982, Ben Franklin has supported over 2,000 companies, leading to an impact of over $5 billion and 32,000 jobs in the Philadelphia region. This impact includes $3.5 billion in follow-on funding raised by their clients since 2001.
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Impact
October, 2024
Ben Franklin Technology Partners of Southeastern Pennsylvania significantly impacts the region's economy by driving innovation and fostering enterprise development. Since its inception in 1982, it has emerged as a vital resource for technology-based companies, serving as a primary investor and support hub for entrepreneurs. Through capital investment, business guidance, and technical assistance, it nurtures startups and growing enterprises, providing tailored expertise in various aspects of business operations, including product development, marketing, fundraising, and human resources.
The organization has supported over 2,000 companies, contributing to an economic impact exceeding $5 billion and the creation of approximately 32,000 jobs in the Philadelphia area. Additionally, its clients have successfully raised more than $3.5 billion in follow-on funding since 2001, reflecting the effectiveness of its support system.
By partnering with seed funds, angel groups, and accelerators, Ben Franklin enhances the regional entrepreneurial ecosystem. Its collaboration with local universities also brings in significant funding, further amplifying its role in regional economic growth. Overall, Ben Franklin Technology Partners is instrumental in cultivating a sustainable environment for innovation, job creation, and community improvement within Southeastern Pennsylvania.
This information is meant to be a general summary of Ben Franklin Technology Ptrs Of Se Pa. 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: $2,886,795
- Program Service Revenue: $2,667,508
- Gross Receipts: $17,115,789
Assets and Liabilities:
- Total Assets: $116,022,723
- Total Liabilities: $17,897,423
- Net Assets: $98,125,300
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$2,235,663
LOAN MAINTENANCE FEES
Revenue
$413,095
APPLICATION & CLOSING FEES
Revenue
$18,750
Organization Details
Founding Year
1988
Phone
(215) 972-6700Principal Officer
Scott Nissenbaum
Main Address
4800 S 13TH ST-BLDG100 200, PHILADELPHIA, PA, 19112
Website
www.sep.benfranklin.orgNTEE Category
Code: S430 - Community improvement
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