2025-05-12T09:08:56-04:00 2024-06-30 BDO USA 1801 MARKET STREET SUITE 1200 PHILADELPHIA PA 19103 990 2023-07-01 232527210 BEN FRANKLIN TECHNOLOGY PTRS OF SE PA % SANIAH M JOHNSON BENF 2159726700 4800 S 13TH ST-BLDG 100 Suite 200 PHILADELPHIA PA 19112 SCOTT NISSENBAUM PRESIDENT & CEO 2158818800 2025-05-12 true true Kelly R Raquet P01644256 2155641900 2025-05-12 2023 2025-03-06 01:10:19Z SCOTT NISSENBAUM 4800 S 13TH ST-BLDG 100200 PHILADELPHIA PA 19112 35257713 false X WWW.SEP.BENFRANKLIN.ORG X 1988 PA BEN FRANKLIN STIMULATES ECONOMIC GROWTH AND INNOVATION IN THE REGION THROUGH INITIATIVES AND PARTNERSHIPS THAT (SEE SCHEDULE O). 21 20 34 99 0 0 6998283 6308372 1962672 2028239 -431636 3558685 245840 854844 8775159 12750140 109938 20000 0 0 5658043 6376828 0 0 0 6959003 2586342 12726984 8983170 -3951825 3766970 109485559 99126229 20730725 15231010 88754834 83895219 X BEN FRANKLIN LEADS THE REGION'S ECONOMIC DEVELOPMENT BY NURTURING AND INVESTING IN INNOVATIVE, EARLY-STAGE COMPANIES, AND PURPOSEFUL INVOLVEMENT IN RELEVANT REGIONAL AND NATIONAL INITIATIVES. false false 2486118 20000 2028239 CAPITAL INVESTMENT, BUSINESS, AND TECHNICAL ASSISTANCE: BEN FRANKLIN SEEKS TO CREATE A THRIVING ECONOMY, POWERED BY TECHNOLOGY FOCUSED INNOVATION AND A SUPPORTIVE ECOSYSTEM FOR EARLY-STAGE COMPANIES. BEN FRANKLIN HAS SUPPORTED ENTREPRENEURS BY PROVIDING THE CAPITAL AND TECHNICAL EXPERTISE TO HELP THEM ACHIEVE THEIR VISIONS. BEN FRANKLIN PROVIDES EARLY-STAGE COMPANIES CUSTOMIZED, ONE-ON-ONE REAL-WORLD KNOWLEDGE IN PRODUCT DEVELOPMENT AND COMMERCIALIZATION, MARKETING, FUNDRAISING, ACCOUNTING, OPERATIONS, HUMAN RESOURCES, AND MORE, GIVING ACCESS TO ITS WIDE RANGE OF MENTORING, BUSINESS, AND TECHNOLOGY DEVELOPMENT SERVICES AND ITS EVER-EXPANDING NETWORK OF ADVISORS AND PARTNERS. 1832384 TECHNOLOGY & ENTREPRENEURIAL INFRASTRUCTURE: BEN FRANKLIN IMPROVES THE REGION'S ECONOMY THROUGH THE DEVELOPMENT AND SUPPORT OF INFRASTRUCTURE FOR INNOVATION, INCLUDES WORK TO IDENTIFY AND GROW REGIONAL RESOURCES THAT CATALYZE AND DEVELOP REGIONAL TECHNOLOGY ASSETS THAT CAN BECOME PLATFORMS FOR NEW ENTERPRISE GROWTH AND PROVIDE OPPORTUNITIES TO RETAIN AND ATTRACT TALENT. BEN FRANKLIN LEADS AND PARTNERS IN THE FORMATION OF UNIVERSITY-INDUSTRY COMMERCIALIZATION MODELS; IDENTIFIES AND SUPPORTS COMMERCIALIZATION ACCELERATION ENGAGEMENTS BETWEEN TECHNOLOGY DEVELOPMENT RESOURCES AND EMERGING ENTERPRISES; PROVIDES SUPPORT AND/OR MANAGES REGIONAL INCUBATORS AND ACCELERATORS; ENDORSES THE PUBLICATION OF CAPITAL AND TECHNOLOGY REPORTS; ENGAGES IN EFFORTS TO STIMULATE COMPANY FORMATION AMONG WOMEN AND MINORITIES; IS ACTIVE IN THE REGION'S IMPACT INVESTMENT COMMUNITY; AND PARTNERS TO CREATE AN ENVIRONMENT OF INFORMATION EXCHANGE AND INTERACTION VIA SEMINARS AND EVENTS. 4318502 true true false true false false true false false false true true true false true true false true false false false false false false false false false false false true false false false false false false false false false false false false true true true false false false true 59 0 true 34 true false false false false false false false false false false false false X 21 20 false false false false true false false true true false false false true true true true true true true false PA X SANIAH M JOHNSON 2159726700 4800 S 13TH ST-BLDG 100-STE 200 PHILADELPHIA PA 19112 X SCOTT NISSENBAUM PRESIDENT AND CEO 50.0 0.0 X X 425981 0 70309 WILLIAM KIESLING COO/GEN'L COUNSEL/ASST CORP SE 50.0 0.0 X 327364 0 35335 SANIAH M JOHNSON CPA CFO/ASST CORPORATE TREASURER 50.0 0.0 X 325093 0 28309 MARGARET BRADLEY VP STRATEGIC INITIATIVES 40.0 0.0 X 248511 0 70367 ANTHONY GREEN CHIEF SCIENTIFIC OFFICER 44.0 0.0 X 254704 0 63157 OMAR MENCIN MANAGING DIRECTOR, TECH INVEST 40.0 0.0 X 274150 0 20701 JASON J BANNON VP MKTG & COMM. 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WE HAVE A REGULARLY SCHEDULED TECHNICIAN ON SITE WEEKLY, WHO ALSO REVIEWS THE SITE FOR ANY DEFICIENCIES. SCHEDULE D, PART II, LINE 9: PROPERTY AND EQUIPMENT ARE STATED AT COST LESS ACCUMULATED DEPRECIATION. PROPERTY AND EQUIPMENT ARE DEFINED BY BEN FRANKLIN AS ASSETS WITH A COST OF MORE THAN $10,000 AND AN ESTIMATED USEFUL LIFE IN EXCESS OF ONE YEAR. DEPRECIATION AND AMORTIZATION ARE COMPUTED ON A STRAIGHT-LINE BASIS OVER THE ESTIMATED LIVES OF THE ASSETS. LEASEHOLD IMPROVEMENTS ARE AMORTIZED OVER THE SHORTER OF THE LEASE PERIOD OR ESTIMATED USEFUL LIFE. ESTIMATED USEFUL LIVES OF ASSETS RANGE FROM THREE TO FIVE YEARS FOR EQUIPMENT, 10 TO 15 YEARS FOR LEASEHOLD IMPROVEMENTS, AND 39 YEARS FOR THE BUILDING. MANAGEMENT EVALUATES THE RECOVERABILITY OF LONG-LIVED ASSETS ON AN ONGOING BASIS AND RECOGNIZES ANY IMPAIRMENT IN THE YEAR OF DETERMINATION. LONG-LIVED ASSETS WERE TESTED FOR IMPAIRMENT AT JUNE 30, 2024 AND 2023, AND IN THE OPINION OF MANAGEMENT, THERE WAS NO IMPAIRMENT. IT IS REASONABLY POSSIBLE THAT RELEVANT CONDITIONS COULD CHANGE IN THE NEAR TERM AND NECESSITATE A CHANGE IN MANAGEMENT'S ESTIMATE OF THE RECOVERABILITY OF THESE ASSETS. SCHEDULE D, PART X, LINE 2: BEN FRANKLIN IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS A NOT-FOR-PROFIT ORGANIZATION, BEN FRANKLIN IS ALSO EXEMPT FROM STATE AND LOCAL INCOME TAXES. BUILDING 100 LIMITED PARTNERS, LLC AND BUILDING 100 GENERAL PARTNER, LLC ARE LIMITED LIABILITY COMPANIES WHOSE SOLE MEMBER IS AN EXEMPT ORGANIZATION. THESE ENTITIES ARE CONSIDERED TO BE DISREGARDED ENTITIES AND ARE INCLUDED IN BEN FRANKLIN'S TAX RETURN. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF BEN FRANKLIN AND SUBSIDIARIES AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR FURTHER DISCLOSURE IN THE NOTES TO THE FINANCIAL STATEMENTS. BEN FRANKLIN AND SUBSIDIARIES ARE SUBJECT TO AUDITS BY TAXING JURISDICTIONS; HOWEVER, NO AUDITS FOR ANY PERIODS ARE CURRENTLY IN PROGRESS. MANAGEMENT RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF MANAGEMENT AND ADMINISTRATIVE EXPENSES. THERE WERE NO INCOME TAX RELATED INTEREST OR PENALTIES RECORDED FOR BEN FRANKLIN AND SUBSIDIARIES FOR EITHER OF THE YEARS ENDED JUNE 30, 2024 OR 2023. 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(THRU 6/24) 203435 0 17035 0 2664 0 16385 0 11285 0 250804 0 0 0 DORTHEA CHRUPCALA ASST CORP SECRETARY/CHIEF OF S 90854 0 11482 0 3182 0 7662 0 54733 0 167913 0 0 0 FORM 990, PART I, LINE I: ACCELERATE THE DEVELOPMENT OF NEW TECHNOLOGIES AND THEIR COMMERCIALIZATION PRIMARILY THROUGH INVESTMENTS IN AND SUPPORT OF TECHNOLOGY-BASED ENTERPRISES. FORM 990, PART VI, SECTION A, LINE 6: MEMBERS OR STOCKHOLDERS OF THE ORGANIZATION: THE SOLE MEMBER OF THIS CORPORATION IS UNIVERSITY CITY SCIENCE CENTER, A PENNSLYVANIA NONPROFIT CORPORATION. MEMBERSHIP OF THIS CORPORATION IS NON-TRANSFERABLE AND NON ASSIGNABLE. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 REVIEW PROCESS CURRENTLY BEN FRANKLIN'S FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE COMPLETED, THE 990 IS REVIEWED BY THE CFO AND ASSISTANT CONTROLLER. IF FOUND TO BE COMPLETE AND SATISFACTORY, THE 990 IS PRESENTED TO THE COO AND GENERAL COUNSEL AND THE CEO FOR REVIEW. UNDER OUR CURRENT AUDIT COMMITTEE CHARTER, THE AUDIT COMMITTEE WILL REVIEW FORM 990 TAX FILINGS TO ENSURE COMPLIANCE WITH TAX LAWS. A COPY OF THE 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD'S AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C: CONFLICT OF INTEREST POLICY AND PROCEDURES ANNUAL CONFLICT OF INTERST FORMS ARE SENT TO STAFF, BOARD MEMBERS, AND CONSULTANTS. THE COMPLETED FORMS ARE REVIEWED BY THE BOARD CHAIRPERSON, CEO, CFO, AND COO & GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION PROCEDURES - TOP MANAGEMENT OFFICIAL CEO COMPENSATION AND BENEFITS ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS, BASED UPON RECOMMENDATIONS BY THE COMPENSATION SUBCOMMITTEE OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. COMPENSATION PROCEDURES - OTHER OFFICERS ANNUAL COMPENSATION CHANGES FOR STAFF MEMBERS ARE PROPOSED BY MANAGEMENT TO THE COMPENSATION SUBCOMMITTEE AND ARE BASED ON PERFORMANCE AND EXTERNAL ANALYSES OF CURRENT MARKET SALARY DATA. COMPENSATION CHANGES ARE APPROVED BY THE COMPENSATION SUBCOMITTEE AND DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19: DOCUMENTS FOR PUBLIC INSPECTION GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AS WELL AS FORM 1023 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS: CHANGE IN PROVISION FOR LOAN GAIN(LOSS): $(2,707,731) CHANGE IN PROVISION FOR INTEREST RECEIVABLE(LOSS): $(2,073,436) BUILDING 100 LIMITED PARTNER LLC 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 811629336 SEE PART VII PA 0 0 BFTPSEP BUILDING 100 GENERAL PARTNER LLC 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 811518824 SEE PART VII PA 0 0 BFTPSEP BUILDING 100 LP 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 651302125 SEE PART VII PA 0 0 BLDG 100 GP PNA 100 ASSOCIATES 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 205232547 SEE PART VII PA 888490 4455220 BLDG 100 GP GLOBAL OPPORTUNITY PHILADELPHIA MGMT LLC 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 832547248 SEE PART VII PA 243000 801272 BFTPSEP GLOBAL OPPORTUNITY PHILADELPHIA FUND GP 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 832532294 SEE PART VII PA 0 1200828 BFTPSEP GLOBAL OPPORTUNITY PENNSYLVANIA MGMT LLC 4801 S BROAD ST STE 200 PHILADELPHIA PA 19112 921824476 SEE PART VII PA 395277 373717 BFTPSEP GLOBAL OPPORTUNITY PENNSYLVANIA FUND GP 4801 S BROAD ST STE 200 PHILADELPHIA PA 19112 921798300 SEE PART VII PA 0 1000 BFTPSEP GLOBAL OPPORTUNITY PENNSYLVANIA CV LLC 4801 S BROAD ST STE 200 PHILADELPHIA PA 19112 921793430 SEE PART VII PA 0 8959 BFTPSEP STAGE2 CAPITAL ASSOC GP LLC 500 N GULPH RD STE 101 KING OF PRUSSIA PA 19406 262059518 SEE PART VII DE BFTPSEP RELATED 0 -1559 false 0 false 0.68000 STAGE2 CAP MGMT LLC 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 261887448 SEE PART VII DE BFTPSEP RELATED 0 -50682 false 0 false 0.50000 GLOBAL OPPORTUNITY PHILADELPHIA FUND I 4801 S BROAD ST STE 200 PHILADELPHIA PA 19112 832519944 SEE PART VII DE GO PHILLY GP RELATED 248333 5296009 false 0 true 0.44836 GLOBAL OPPORTUNITY PHILADELPHIA CV LLC 4800 S 13TH STREET STE 200 PHILADELPHIA PA 19112 832562011 SEE PART VII DE BFTPSEP RELATED 65726 145877 false 0 false 0.53088 GLOBAL OPPORTUNITY PENNSYLVANIA FUND II 4801 S BROAD ST STE 200 PHILADELPHIA PA 19112 921888283 SEE PART VII DE GO PENN GP II RELATED 0 1196913 false 0 true 0.35971 STAGE2 FOUNDERS PARTNERSHIP 435 DEVON PARK DRIVE BLDG 700 WAYNE PA 19112 264447252 SEE PART VII DE BFTPSEP RELATED 49 141645 false 0 true 0.28571 STAGE2 CAPITAL VENTURES ASSOCIATES LP 435 DEVON PARK DRIVE BLDG 700 WAYNE PA 19112 262059251 SEE PART VII DE STAGE2 CAP ASSO RELATED 182 1895215 false 0 true 0.42233 EMERALD STAGE2 VENTURES LP 435 DEVON PARK DRIVE BLDG 700 WAYNE PA 19112 208179634 SEE PART VII DE STAGE2 CAP VEN RELATED 2065 1248943 false 0 true 0.00000 false true false false false false false false false true false false false false false false false false false GLOBAL OPPORTUNITY PHILADELPHIA FUND I LP B 500000 COST BASIS GLOBAL OPPORTUNITY PENNSYLVANIA FUND II LP B 2000000 COST BASIS SCHEDULE R, PART I, COLUMN (B): 1. 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