2025-05-14T20:37:11-04:00 2024-06-30 PwC US Tax LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2023-07-01 232517422 BEN FRANKLIN TECHNOLOGY PARTNERS NE PA % KATHY ANN MINNICH BENF 6107585200 116 RESEARCH DRIVE PLAZA LEVEL BETHLEHEM PA 180154731 KATHY ANN MINNICH EVP/CFO/TREASURER 6107585200 2025-05-14 true true JOANNE KRUEGER P01235586 2673303000 2025-05-14 2023 2025-03-06 01:10:19Z Angelo J Valletta 116 Research Drive Plaza Leve Bethlehem PA 180154731 20911934 false X www.nep.benfranklin.org X 1988 PA Our mission is to promote, sustain and invest in the transformation of our regional economy through innovation and partnering. 13 12 25 50 21591 10644 6371118 6756368 1473240 1332448 1587995 1868202 0 0 9432353 9957018 452494 504200 0 0 2921669 2831469 0 0 12973 7564270 8426844 10938433 11762513 -1506080 -1805495 66138901 66334468 5322689 2611706 60816212 63722762 X 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. false false 5439988 421700 262508 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. 4758865 82500 1069940 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. 10198853 true true false true false false false false false false true true true false true true true false false false false false false false false false false true false true false false false false false false false false false false false false false true true false false false true X 0 0 true 25 true true false false false false true true false false false false false false false false X 13 12 false false false false false false true true true false false true true true true true true true true false PA X KATHY ANN MINNICH 6107585230 116 RESEARCH DRIVE BETHLEHEM PA 180154731 X Nathaniel Urban Board Member 2.0 40.0 X 0 668637 53229 Angelo J Valletta CEO/President 40.0 0.0 X 311092 0 23395 Kathy Ann Minnich EVP/CAO/CFO/Treasurer/Secy 40.0 0.0 X 192584 0 35365 Wayne Barz CIO/Asst Treasurer/Asst Secy 40.0 0.0 X 154669 0 30853 Kenneth Okrepkie Regional Mgr Pocono 40.0 0.0 X 127707 0 11413 Melanie Kohler Chief Technology Officer 40.0 0.0 X 123126 0 9471 Barbara Lampe Vice Chairman 2.0 0.0 X 0 0 0 Jan Heller Board Chairman 2.0 0.0 X 0 0 0 Kenneth P Guito Board Member 2.0 0.0 X 0 0 0 Patricia Johnson Board Member 2.0 0.0 X 0 0 0 R Chadwick Paul Jr Board Member 2.0 0.0 X 0 0 0 Glen Bressner Board Member 2.0 0.0 X 0 0 0 Robert Oster Board Member 2.0 0.0 X 0 0 0 Dr Jill Murray Board Member 2.0 0.0 X 0 0 0 Philip Crowley Esq Board Member 2.0 0.0 X 0 0 0 Jacqueline Hollenbach Board Member 2.0 0.0 X 0 0 0 Eric Schnabel BOARD MEMBER BEGAN JUNE 2023 2.0 0.0 X 0 0 0 David Vawdrey BOARD MEMBER BEGAN SEP 2023 2.0 0.0 X 0 0 0 909178 668637 163726 5 false true false ARS INVESTMENT PARTNERS 529 5TH AVENUE NEW YORK NY 10110 INVESTMENT MANAGER 180637 BEN FRANKLIN TECH PTRS CENTRAL NO 200 INNOVATION BOULEVARD STATE COLLEGE PA 16803 CONSULTING 142920 2 0 0 0 0 6711013 45355 0 6756368 BUSINESS INCUBATOR REVENUE 541990 1058700 1058700 CLIENT LOAN INTEREST 541990 262508 262508 EVENTS TO SHOWCASE CLIENTS 541990 11240 11240 1332448 461256 21591 439665 0 0 0 0 0 9979409 2382453 9762337 1192579 217072 1189874 1406946 1406946 0 0 0 0 0 0 0 0 0 0 9957018 1332448 21591 1846611 504200 504200 0 0 0 0 0 0 884622 561975 321223 1424 0 1480026 1128129 350356 1541 120703 91312 29164 227 238156 128955 108839 362 107962 84761 23009 192 0 65017 65017 57503 57503 33000 33000 0 197596 197596 583045 539927 43118 9227 9227 136848 122957 13891 166253 11197 155056 0 1447926 1438259 9667 43054 22451 20603 0 81523 79426 2097 0 0 1528398 1528398 21934 21934 ALLOWANCE FOR DOUBTFUL LOANS 3943087 3943087 MISCELLANEOUS 112433 13819 98614 11762513 10198853 1550687 12973 X 0 0 6716022 4316542 0 0 33336 15904 0 0 0 0 1999111 1620949 0 0 119627 96447 38393688 19683697 20233596 18709991 25574043 28810177 8127027 8968971 3276114 3736114 0 0 60025 59373 66138901 66334468 123802 67232 41168 77956 3698747 1077945 0 0 0 0 0 0 0 0 0 0 1458972 1388573 5322689 2611706 X 60816212 63722762 0 0 60816212 63722762 66138901 66334468 X -1805495 4629045 83000 X false true X true X 4152942 4510398 3521100 6371118 6756368 25311926 0 0 4152942 4510398 3521100 6371118 6756368 25311926 0 25311926 341295 218530 180844 391583 439665 1571917 176820 158916 10644 346380 0 27230223 7225158 0.92955 0.92967 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 33000 false true 33000 false FORM 990, SCHEDULE C, PART II-B, LINE 1 FEDERAL AND STATE LEGISLATIVE VISITS 28597455 12410075 16187380 8660370 6196586 2463784 1135863 1077036 58827 18709991 PRIVATE DEBT AND EQUITY FUNDS 8968971 F 8968971 3736114 0 POST-RETIREMENT BENEFIT 882000 ASSET RETIREMENT OBLIGATION 347895 ACCRUED PAYROLL 150752 OTHER 7926 1388573 X 14388467 4629045 4629045 9759422 197596 197596 9957018 11647917 83000 83000 11564917 197596 197596 11762513 FORM 990, SCHEDULE D, PART X, LINE 2 THE PARTNERS ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR TAXES ON INCOME FROM ACTIVITIES UNRELATED TO THEIR EXEMPT PURPOSE. THE PARTNERS USE A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE PARTNERS HAVE NO UNCERTAIN INCOME TAX POSITIONS MEETING THE THRESHOLD FOR ACCRUAL IN THE YEARS ENDED JUNE 30, 2024 AND 2023. FORM 990, SCHEDULE D, PART XII, LINE 2D UNREALIZED GAIN IN POST-RETIREMENT BENEFIT OBLIGATION: $134,000 NET PERIODIC BENEFIT COSTS: $(51,000) true AMERICAN POLARIZERS 141 SOUTH 7TH STREET READING PA 19602 231637322 5165 BUSINESS AND TECHNICAL ASSISTANCE BOND METAL SURPLUS INC 2385 JOHN FRIES HWAY QUAKERTOWN PA 18951 232142702 34972 BUSINESS AND TECHNICAL ASSISTANCE BRD NOISE AND VIBRATIONS 112 FAIRVIEW AVENUE WIND GAP PA 18091 232396721 10000 BUSINESS AND TECHNICAL ASSISTANCE EAM MOSCA 675 JAYCEE DRIVE HAZEL PA 18202 112578359 22275 BUSINESS AND TECHNICAL ASSISTANCE FM BROWN 127 SOUTH FURNACE ST BIRDSBORO PA 19508 231308422 25000 BUSINESS AND TECHNICAL ASSISTANCE FOLLETT 801 CHURCH LANE EASTON PA 18040 221635318 48377 BUSINESS AND TECHNICAL ASSISTANCE GROUSE HUNT FARMS INC 458 FAIRVIEW STREET TAMAQUA PA 18252 232218571 16679 BUSINESS AND TECHNICAL ASSISTANCE HUMAN ACTIVE TECHNOLOGY 100 KUEBLER ROAD EASTON PA 18040 800947637 25000 BUSINESS AND TECHNICAL ASSISTANCE LEVAN MACHINE CO 3417 PRICETOWN ROAD FLEETWOOD PA 19522 232111992 21291 BUSINESS AND TECHNICAL ASSISTANCE POWERRAIL 205 CLARK ROAD DURYEA PA 18642 270040910 25000 BUSINESS AND TECHNICAL ASSISTANCE PRECISION MEDICAL 300 HELD DRIVE NORTHAMPTON PA 18067 232208659 25000 BUSINESS AND TECHNICAL ASSISTANCE REITNOUER 5 EASTPOINTE DRIVE BIRDSBORO PA 19508 232249322 10000 BUSINESS AND TECHNICAL ASSISTANCE SCHOTT NORTH AMERICA 400 YORK AVENUE DURYEA PA 18642 134085088 15000 BUSINESS AND TECHNICAL ASSISTANCE SILBERLINE MANUFACTURING 130 LINCOLN DRIVE TAMAQUA PA 18252 232242439 25000 BUSINESS AND TECHNICAL ASSISTANCE STRAIGHT ARROW PRODUCT 900 CONROY PLACE EASTON PA 18040 221910029 20000 BUSINESS AND TECHNICAL ASSISTANCE SUBURBAN TESTING LABS 1037F MACARTHUR ROAD READING PA 19605 231879817 18400 BUSINESS AND TECHNICAL ASSISTANCE SUMITOMO CRYOGENICS OF AMERICA 1833 VULTEE STREET ALLENTOWN PA 18103 521503386 18123 BUSINESS AND TECHNICAL ASSISTANCE UNIVERSAL COMPRESSED AIR 4647 SAUCON CREEK RD CENTER VALLEY PA 18034 384016024 21145 BUSINESS AND TECHNICAL ASSISTANCE US SPECIALTY FORMULATIONS LLC 1403 SOUTH ALBERT ST ALLENTOWN PA 18103 463242404 9979 BUSINESS AND TECHNICAL ASSISTANCE CARBONDALE TECHNOLOGY TRANSFER CENTER 10 ENTERPRISE DRIVE CARBONDALE PA 18407 232799616 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE GREATER HAZLETON BUSINESS INNOVATION CENTER 103 ROTARY DRIVE WEST HAZLETON PA 18202 236296551 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE SCRANTON ENTERPRISE CENTER 201 LACKAWANNA AVENUE SCRANTON PA 18503 236298311 501(C)(3) 15000 BUSINESS AND TECHNICAL ASSISTANCE WAYNE ECONOMIC DEVELOPMENT CORPORATION 32 COMMERICAL STREET HONESDALE PA 18431 246015814 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE ALLENTOWN ECONOMIC DEVELOPMENT CORPORATION 905 HARRISON STREET ALLENTOWN PA 18103 232101393 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE BUCKNELL UNIVERSITY ONE DENT DRIVE LEWISBURG PA 17837 240772407 501(C)(3) 15000 BUSINESS AND TECHNICAL ASSISTANCE EAST STROUDSBURG UNIVERSITY 562 INDEPENDENCE EAST STROUDSBURG PA 18301 232504462 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE GREATER WILKES-BARRE CHAMBER OF BUSINESS AND INDUS 2 PUBLIC SQUARE WILKESBARRE PA 18710 020605397 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE ALVERNIA UNIVERSITY 400 SAINT BERNADINE ST READING PA 19607 231522643 501(C)(3) 7500 BUSINESS AND TECHNICAL ASSISTANCE 9 19 FORM 990, SCHEDULE I, PART I, LINE 2 It is the BFTP/NEPA policy to use Ben Franklin's resources to help technology-related early stage firms and established manufacturers for high growth, and to support the creation and enhancement of a business infrastructure necessary to competitively position the region in the global economy. Investments are made in order to develop and employ new technologies, adopt new business practices, and adapt and integrate modern approaches to systematically utilize people and technology for competitive advantages. Investments are provided to a select portfolio of client companies and community initiatives chosen as the best prospects for future growth and retention of jobs. There are three basic types of investments utilized by Ben Franklin as designated in the state guidelines. They are 1) Early Stage and Established Manufacturer Companies 2) Technology/Entrepreneurial Infrastructure 3) Business and Technical Direct Services. The investment decision is made by reviewing a formal proposal application and budget submitted by the company(s) to Ben Franklin. It is the policy of Ben Franklin to invest in Early Stage Firms and Established Manufacturer funding only after: 1. it has been reviewed by external experts for business and technical feasibility and appropriateness. For projects in which research and development or other technical tasks are funded, the proposals will be reviewed by at least one external technical expert. The preference is to have proposals reviewed by two technical experts. Additionally, all initial proposals for early stage firms will have the business plan reviewed by one or two external business experts; 2. it has been reviewed and recommended by a group of Ben Franklin staff appointed by the Chief Executive Officer; and 3. it has received final approval from the BFTP/NEP Board of Directors or Executive Committee. X X X X false false false false false false false false false Kathy Ann Minnich EVP/CAO/CFO/Treasurer/Secy 191475 0 0 0 1109 0 19685 0 15680 0 227949 0 0 0 Wayne Barz CIO/Asst Treasurer/Asst Secy 154122 0 0 0 547 0 15351 0 15502 0 185522 0 0 0 Angelo J Valletta CEO/President 309781 0 0 0 1311 0 21920 0 1475 0 334487 0 0 0 Nathaniel Urban Board Member 0 661155 0 0 0 7482 0 29935 0 23294 0 721866 0 0 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. FORM 990, PART V, LINE 1A LEHIGH UNIVERSITY IS THE PAYMASTER AND FILES THE APPROPRIATE WAGE AND TAX STATEMENTS. THERE ARE 25 EMPLOYEES EMPLOYED BY BEN FRANKLIN TECHNOLOGY PARTNERS OF NEPA. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AFFAIRS OF THE CORPORATION TO THE EXTENT PERMITTED BY LAW. FORM 990, PART VI, SECTION A, LINE 7B Lehigh University is the Corporate Member. FORM 990, PART VI, SECTION B, LINE 11B THE 990 RETURN IS PREPARED BY THE CHIEF FINANCIAL OFFICER AND REVIEWED BY A PAID PREPARER. A COPY OF THE 990 RETURN IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE ANNUALLY SENT TO ALL STAFF AND BOARD MEMBERS. THEY ARE REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER. AT THE JUNE FULL BOARD MEETING, THE BOARD OF DIRECTORS REVIEW THE CONFLICTS LISTED BY THE BOARD AND STAFF MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 FORMS 990, 1023, FINANCIAL STATEMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A, LINE 1A THE HOURS LISTED FOR BOARD MEMBERS WHICH ARE FROM A RELATED ORGANIZATION REFER TO THE HOURS DEDICATED TO BEN FRANKLIN TECHNOLOGY PARTNERS OF NEPA ONLY. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS UNREALIZED GAIN IN POST-RETIREMENT BENEFIT OBLIGATION $ 134,000 NET PERIODIC BENEFIT COSTS (51,000) --------------------------------------- TOTAL $ 83,000 FORM 990, PART V, LINE 2A LEHIGH UNIVERSITY IS THE PAYMASTER AND FILES THE APPROPRIATE WAGE AND TAX STATEMENTS. THERE ARE 25 EMPLOYEES EMPLOYED BY BEN FRANKLIN TECHNOLOGY PARTNERS OF NEPA. Lehigh University 27 MEMORIAL DRIVE WEST BETHLEHEM PA 18015 240795445 University PA 501(c)(3) 2 NA false Manufacturers Resource Center 961 MARCON BLVD ALLENTOWN PA 18109 232514764 Economic Dev PA 501(c)(3) 7 Lehigh Univ true false false false false false false false false false false false false true false false false false false false