Ben Franklin Technology Partners Of Southeastern Pennsylvania
Ben Franklin Technology Partners Of Southeastern Pennsylvania
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About this organization
Mission
Ben Franklin is the Philadelphia region’s Partner with a Purpose. We stimulate entrepreneurial potential, economic growth and innovation in Southeastern Pennsylvania by providing the Capital, Counsel and Connections that accelerate the formation and growth of both technology-driven enterprises and partnerships that create sustainable employment opportunities and spur the development, commercialization and adoption of advanced technologies.
About
BUSINESS, TECHNICAL ASSISTANCE, PORTFOLIO MANAGEMENT AND DUE DILIGENCE:BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA IS A PUBLIC/PRIVATE PARTNERSHIP WHOSE MISSION IS TO DRIVE ECONOMIC GROWTH AND JOB CREATION THROUGH TECHNOLOGY, INNOVATION, AND ENTREPRENEURSHIP. WE ARE PARTNERS WITH A PURPOSE.FOR MORE THAN 35 YEARS, BEN FRANKLIN HAS SEEDED AND SUPPORTED ENTREPRENEURS AND INNOVATORS AS THE INVESTOR OF FIRST RESORT FOR GROWING TECHNOLOGY ENTERPRISES; PROVIDING THE CAPITAL, BUSINESS, AND TECHNICAL EXPERTISE TO HELP THEM ACHIEVE THEIR VISIONS. BEN FRANKLIN PROVIDES EARLY-STAGE COMPANIES CUSTOMIZED, ONE-ON-ONE (CONT. PAGE 41) 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. DURING THE FISCAL YEAR 2019, BEN FRANKLIN COMMITTED $6,798,538 IN DIRECT INVESTMENTS AND DISBURSED $4,878,538 TO 46 COMPANIES. THE FAIR VALUE OF TOTAL COMPANY INVESTMENTS OF APPROX. $32,692,686 IS REFLECTED ON THE BALANCE SHEET. THE $2,981,908 OF EXPENSES IN THIS CATEGORY REPRESENT BUSINESS AND TECHNICAL ASSISTANCE PROVIDED TO THOSE EXISTING AND OTHER REGIONAL TECHNOLOGY-BASED COMPANIES WHO ARE PROSPECTIVE CLIENTS. SERVICES PROVIDED INCLUDE MENTORING, NETWORKING, TECHNICAL ASSISTANCE AND A FULL RANGE OF ENTREPRENEURIAL SUPPORT AND DIRECT ASSISTANCE DESIGNED TO HELP COMPANIES REACH TARGETED MILESTONES AND ACCELERATE THEIR PATH TO COMMERCIAL SUCCESS.FROM 2001 THROUGH 2019, BEN FRANKLIN HAS COMMITTED OVER $113 MILLION AND FUNDED AT LEAST 414 EARLY-STAGE COMPANIES. IN ADDITION, OUR CLIENTS HAVE RAISED MORE THAN $2.8 BILLION IN FOLLOW ON FUNDING. OUR CURRENT PORTFOLIO SPANS 235 REGIONAL ENTERPRISES. WE HAVE INVESTED CAPITAL OR OTHER RESOURCES IN MANY REGIONAL SEED FUNDS, ANGEL GROUPS AND ACCELERATORS. SOME OF THESE INITIATIVES INCLUDE EMERALD STAGE 2 VENTURES, RITTENHOUSE VENTURES, SEVENTY-SIX CAPITAL, BIOADVANCE VENTURES, DREAMIT VENTURES, MINORITY ANGEL INVESTOR NETWORK, AND MID-ATLANTIC ANGEL GROUP I & II. OUR PORTFOLIO OF COMPANIES HAS CREATED OR RETAINED AT LEAST 5,500 HIGH TECH JOBS IN THE REGION. BEN FRANKLIN ALSO MAINTAINS A ROBUST PARTNERSHIP WITH THE AREA IN WHICH UNIVERSITIES ARE LEVERAGING OVER $1.5 BILLION IN FUNDING TO THE REGION. TECHNOLOGY & ENTREPRENEURIAL INFRASTRUCTURE: BEN FRANKLIN'S MISSION IS TO IMPROVE THE REGION'S ECONOMY THROUGH THE DEVELOPMENT AND SUPPORT OF INFRASTRUCTURE FOR INNOVATION, THIS INCLUDES WORK TO IDENTIFY SEED 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.
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “Ben franklin stimulates economic growth and innovation in the region through initiatives and partnerships that accelerate the development of new technologies and their commercialization primarily through investments in and support of technology-based enterprises.”.
When talking about its functions, they were outlined as: “Ben franklin stimulates economic growth and innovation in the region(see schedule o for continuation) through initiatives and partnerships that accelerate the development of new technologies and their commercialization primarily through investments in and support of technology-based enterprises.”.
- The legally reported state of operation for the non-profit is PA.
- According to the filing, the non-profit's address in 2020 is 4800 S 13TH ST-BLDG100 NO 200, PHILADELPHIA, PA, 19112.
- The non-profit organization as of 2020 has a total of 33 employees reported on their form.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $7,810,108.
- The organization has 22 independent voting members.
- The organization was formed in 1988.
- The organization pays $5,486,540 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.