2022-05-12T11:32:07-05:00 2021-06-30 871353108 EISNER ADVISORY GROUP LLC 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2020-07-01 232527210 BEN FRANKLIN TECHNOLOGY PTRS OF SE PA BENF 2159726700 4800 S 13TH ST-BLDG100 NO 200 PHILADELPHIA PA 19112 SCOTT NISSENBAUM PRESIDENT & CEO 2159726700 2022-05-09 1 SCOTT NISSENBAUM 999009999 HELEN M MARTIN P01330899 2158818800 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SCOTT NISSENBAUM 4800 S 13TH ST-BLDG100 NO 200 PHILADELPHIA PA 19112 15746170 0 X WWW.SEP.BENFRANKLIN.ORG X 1988 PA 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. 22 21 36 100 0 0 3278317 5130220 2707123 2648948 1863042 1639761 273318 -56434 8121800 9362495 119997 25000 0 0 4780409 5743993 0 0 0 4750173 2774313 9650579 8543306 -1528779 819189 94236953 114107980 12952469 16097885 81284484 98010095 X BEN FRANKLIN IS THE REGION'S PARTNER WITH A PURPOSE. WE STIMULATE ENTREPRENEURIAL POTENTIAL, ECONOMIC GROWTH AND INNOVATION IN GREATER PHILADELPHIA 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. 0 0 2817519 2648948 CAPITAL INVESTMENT, BUSINESS, AND TECHNICAL ASSISTANCE: 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.SINCE 1982, 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, (CONTINUED ON SCHEDULE O, PAGE 41)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. DURING THE FISCAL YEAR 2021, BEN FRANKLIN COMMITTED $7,055,000 IN DIRECT INVESTMENTS AND DISBURSED $4,255,001 TO 34 COMPANIES. THE FAIR VALUE OF TOTAL COMPANY INVESTMENTS OF APPROX. $70,048,713 REFLECTED ON THE BALANCE SHEET. THE $2,136,776 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 2021, BEN FRANKLIN HAS COMMITTED OVER $125 MILLION AND FUNDED AT LEAST 443 EARLY-STAGE COMPANIES. IN ADDITION, OUR CLIENTS HAVE RAISED MORE THAN $ 3.1 BILLION IN FOLLOW ON FUNDING. OUR CURRENT PORTFOLIO SPANS 202 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 $519.8 MILLION 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, 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. 2375672 25000 TECHNOLOGY & ENTREPRENEURIAL INFRASTRUCTURE: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. THE $1,921,766 OF EXPENSES IN THIS CATEGORY (CONTINUED ON SCHEDULE O, PAGE 42)IS RESOURCED FROM FEDERAL, STATE, AND FOUNDATION GRANTS.FORMED BY BEN FRANKLIN AND EPAM, A LEADING GLOBAL PRODUCT DEVELOPMENT AND DIGITAL PLATFORM ENGINEERING SERVICES COMPANY, THE GLOBAL OPPORTUNITY PHILADELPHIA FUND (GO PHILLY FUND) FACILITATES INVESTOR PARTICIPATION IN THE BURGEONING OPPORTUNITY WITHIN GREATER PHILADELPHIA'S TECHNOLOGY-BASED VENTURES. GO PHILLY FUND PROVIDES CAPITAL FOR EARLY-STAGE TECHNOLOGY COMPANIES PRIMARILY IN THE GREATER PHILADELPHIA REGION (WHICH INCLUDES THE CITY OF PHILADELPHIA, BUCKS, CHESTER, DELAWARE AND MONTGOMERY COUNTIES). THE FUND INVESTS SIDE BY SIDE WITH BEN FRANKLIN IN EARLY-STAGE COMPANIES THAT PASS BEN FRANKLIN'S COMPREHENSIVE DUE DILIGENCE PROCESS, SUPPORTING THE GROWTH OF ENTERPRISES THAT BUILD THE COMMUNITY OF INNOVATION IN GREATER PHILADELPHIA. IN SPRING 2020, BEN FRANKLIN ANNOUNCED FORMATION OF THE SAVE OUR STARTUPS INITIATIVE (SOS), TO QUICKLY DEPLOY MORE THAN $2 MILLION IN THE PHILADELPHIA REGION'S EARLY-STAGE INNOVATION COMPANIES AFFECTED BY THE COVID-19 PANDEMIC. WITH $1 MILLION IN NEW CAPITAL COMMITTED BY THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT (DCED), $1 MILLION FROM BEN FRANKLIN, AND ADDITIONAL CAPITAL BEING RAISED FROM OTHER ORGANIZATIONS, SOS DEVOTED 100% OF THIS CAPITAL TO STARTUP COMPANIES IN OUR FIVE-COUNTY REGION OF PHILADELPHIA, BUCKS, CHESTER, DELAWARE, AND MONTGOMERY COUNTIES. SOS SUPPORTED COMPANIES UNABLE TO ACCESS FUNDING THROUGH THE RECENT BUSINESS SUPPORT CHANNELS, WHOSE STRUCTURES OFTEN DO NOT SUPPORT EARLY-STAGE INNOVATION-FOCUSED FIRMS.TO INCREASE THE PHILADELPHIA REGION'S SUPPORT AND DEVELOPMENT OF COMPANIES LED BY UNDERREPRESENTED FOUNDERS, BEN FRANKLIN COMMITTED A GRANT OF $150,000 FOR PHILLY STARTUP LEADERS' (PSL) FOUNDED IN PHILLY ACCELERATOR, ALONG WITH A COMMITMENT OF BEN FRANKLIN'S STAFF TIME, NETWORK, AND OTHER SUPPORT RESOURCES. THE COMMITMENT SUPPLEMENTED GRANTS FROM THE CITY OF PHILADELPHIA AND ECOMMERCE RETAILER GOPUFF. PSL WILL UTILIZE BEN FRANKLIN'S GRANT TO DEVELOP AND SUPPORT EMERGING TECHNOLOGY COMPANIES LED BY UNDERREPRESENTED FOUNDERS, TO FURTHER DEVELOP THE REGION'S PIPELINE OF HIGH-GROWTH INVESTMENT OPPORTUNITIES. AS A RESULT OF THE RESEARCH AND ANALYSIS BY THE ECONOMY LEAGUE OF GREATERPHILADELPHIA AND BEN FRANKLIN, IMPACTPHL WAS FORMED TO JUMP-START THE STRATEGY FOR GROWING PHILADELPHIA'S IMPACT ECONOMY. IMPACTPHL IS AN ALLIANCE OF ORGANIZATIONS AND INSTITUTIONS THAT BRING TOGETHER DOLLARS, TIME, AND LEADERSHIP TO ADVANCE GREATER PHILADELPHIA'S IMPACT ECONOMY ECOSYSTEM. IMPACTPHL WORKS TO ESTABLISH A WELCOMING FRONT DOOR FOR THOSE SEEKING TO PARTICIPATE IN THE REGIONAL IMPACT ECONOMY. IMPACTPHL VENTURES IS A $15 MILLION COLLABORATIVE TO GROW EARLY-STAGE TECHNOLOGY COMPANIES FOCUSED ON SOCIAL, ENVIRONMENTAL, AND HEALTH-FOCUSED IMPACT IN GREATER PHILADELPHIA. LED BY BEN FRANKLIN, ITS INITIAL PARTNERS INCLUDE SPRING POINT PARTNERS, INVESTOR'S CIRCLE, DREXEL UNIVERSITY, TEMPLE UNIVERSITY, INDEPENDENCE HEALTH GROUP, AND THE BUCKS COUNTY RETIREMENT BOARD. FORMED THROUGH THE SUPPORT OF FUNDING FROM A U.S. ECONOMIC DEVELOPMENT ADMINISTRATION GRANT TO BEN FRANKLIN IN 2016, IMPACTPHL VENTURES' UNIQUE MODEL UNITES EXISTING IMPACT INVESTORS WITH OTHER SEASONED INVESTORS THAT ARE NOW INCORPORATING SOCIAL OUTCOMES INTO THEIR INVESTMENT PERFORMANCE CRITERIA. BEN FRANKLIN PARTNERED WITH THE CITY OF PHILADELPHIA'S DEPARTMENT OF COMMERCE AND PIDC AS THE INVESTMENT FUND MANAGER FOR STARTUPPHL SEED FUND II. THE FUND TARGETS INVESTMENTS AVERAGING $150,000 - $200,000 IN SEED AND EARLY-STAGE TECHNOLOGY COMPANIES IN PHILADELPHIA. WITH A TARGET OF $5 MILLION, THE INVESTMENT FUND BRINGS NEEDED CAPITAL TO PHILADELPHIA STARTUPS.THE DIGITAL HEALTH SEED FUNDING INITIATIVE IS A PARTNERSHIP BETWEEN BEN FRANKLIN AND INDEPENDENCE HEALTH GROUP TO FUEL PHILADELPHIA'S INNOVATIVE DIGITAL HEALTH ECOSYSTEM AND GROW TECHNOLOGY-DRIVEN, EARLY-STAGE HEALTHCARE STARTUPS. THE INITIATIVE WAS BORN AS A RESPONSE TO A BURGEONING ECONOMIC VITALITY IN DIGITAL HEALTH EACH INTEND TO PLEDGE $2 MILLION OVER FOUR YEARS TO LAUNCH THE FUNDING INITIATIVE AND WILL IDENTIFY, VET, AND ALLOCATE FUNDS TO AUGMENT THE PHILADELPHIA REGION'S CONTINUED GROWTH AND DEVELOPMENT IN DIGITAL HEALTH. STARTUP COMPANIES RECEIVE FUNDS BASED UPON THE QUALITY OF THEIR BUSINESS MODEL, THE TECHNOLOGY'S VIABILITY, AND THE STRENGTH OF THEIR MANAGEMENT TEAM. BEN FRANKLIN JOINED THE DVN BETA PROGRAM OF DRAPER VENTURE NETWORK, A SELF-GOVERNED ORGANIZATION OF GLOBAL INDEPENDENT VENTURE FUNDS. THE NETWORK LINKS SEED-STAGE FUNDS WITH DVN'S MORE EXTENSIVE NETWORK OF 17 INDEPENDENT VENTURE FUNDS AND MORE THAN 500 PORTFOLIO COMPANIES WORLDWIDE. THE PROGRAM BRINGS TOGETHER EXPERIENCED INVESTORS AND INNOVATIVE ENTREPRENEURS FROM ACROSS SECTORS AND CONTINENTS TO SHARE STRATEGIES, SOURCE OPPORTUNITIES, AND CREATE GREATER VALUE. THE FIRST MEETING PROGRAM HELPS ENTREPRENEURS DEVELOP RELATIONSHIPS WITH LOCAL AND NATIONAL INSTITUTIONAL INVESTORS AND CORPORATIONS. THE PROGRAM LEVERAGES THE STRENGTH OF BEN FRANKLIN'S CONNECTIONS TO FACILITATE KEY EARLY CONVERSATIONS WITH POTENTIAL SOURCES OF CAPITAL AND PARTNERSHIPS AND ENCOMPASSES TWO TRACKS: VC FIRST MEETING AND CORPORATE FIRST MEETING. VC FIRST MEETING PROMISES BEN FRANKLIN PORTFOLIO COMPANIES A MEETING WITH PARTICIPATING INVESTORS, WHOSE INVESTMENT CRITERIA THEY MEET. CORPORATE FIRST MEETING PROMISES COMPANIES TO ACCESS DECISION-MAKERS AT POTENTIAL CORPORATE PARTNERS ACTIVELY LOOKING FOR INNOVATIVE TECHNOLOGIES. FOR BOTH ITERATIONS OF FIRST MEETING, BEN FRANKLIN HAS DEVELOPED PARTNERSHIPS WITH PARTICIPATING INVESTORS AND CORPORATIONS TO ASSURE FACILITATION AND EFFICACY OF THESE CRITICAL EARLY CONVERSATIONS. IN LINE WITH BEN FRANKLIN'S MENTORING EFFORTS, FIRST MEETING SUPPORTS ENTREPRENEURS WITH STRATEGIC, ACTIONABLE GUIDANCE FOR FUNDING OPPORTUNITIES AND CORPORATE COLLABORATION. MENTOR CONNECT, A PROGRAM PROVIDING FOUNDERS AND LEADERS OF EMERGING COMPANIES WITH COACHING, CONNECTIONS, AND TOOLS TO SUCCESSFULLY GROW THEIR BUSINESSES, BRINGS THE EXPERIENCE OF A CURATED TEAM OF LEADERS AND EXPERTS TO THE ENTREPRENEURS MOST READY TO GROW, ASSISTING IN THE DEVELOPMENT OF THEIR BUSINESS SKILLS. AS GUIDED BY THE PRINCIPLES AND STANDARDS OF MIT VENTURE MENTORING SERVICE, MENTORS DELIVER IMPARTIAL AND UNBIASED ADVICE BY A CODE OF ETHICS TO WHICH ALL MUST ADHERE. ENTREPRENEURS FROM THE PHILADELPHIA ALLIANCE FOR CAPITAL AND TECHNOLOGIES (PACT) AND BEN FRANKLIN NETWORKS RECEIVE PRACTICAL HANDS-ON ADVICE FROM TEAMS OF THREE TO FIVE MENTORS, TAILORED TO EACH VENTURE'S NEEDS. THE MENTORS VOLUNTEER THEIR WEALTH OF ENTREPRENEURIAL INSIGHTS FROM A BROAD RANGE OF INDUSTRY AND MARKET-TESTED EXPERIENCE.VC4BC IS A PARTNERSHIP BETWEEN THE BUCKS COUNTY RETIREMENT BOARD AND BEN FRANKLIN. VC4BC INVESTS $4 MILLION IN EMERGING ADVANCED TECHNOLOGY COMPANIES LOCATED IN, OR WILLING TO LOCATE TO, BUCKS COUNTY. ALL VC4BC INVESTMENT OPPORTUNITIES IN THE IT, HEALTH, DIGITAL HEALTH, AND PHYSICAL SCIENCES TECHNOLOGY SECTORS ARE EVALUATED THROUGH BEN FRANKLIN'S TECHNOLOGY SECTOR-SPECIFIC REVIEW PROCESS.VENTURE CHESCO INVESTS $4 MILLION IN EMERGING AND GROWING COMPANIES LOCATED IN, COMMITTED TO LOCATING IN, OR WITH SIGNIFICANT BUSINESS PRESENCE IN CHESTER COUNTY. BEN FRANKLIN AND CHESTER COUNTY HAVE EACH COMMITTED $2 MILLION IN FUNDS THAT ARE USED TO INVEST IN NEW TECHNOLOGY COMPANIES AND EXISTING COMPANIES LOOKING TO APPLY NEW TECHNOLOGIES TO THEIR BUSINESS OPERATIONS. SUPPORTING CHESTER'S VISTA 2025 INITIATIVE, VENTURE CHESCO FILLS A CRITICAL EARLY STAGE FUNDING GAP IN THE GROWTH CYCLE OF CHESTER COUNTY'S YOUNG COMPANIES AND COMPANIES LOOKING TO APPLY TECHNOLOGY TO IMPROVE BUSINESS PERFORMANCE.BEN FRANKLIN HAS PARTNERED WITH THE MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (MCIDA), AN INDEPENDENT ECONOMIC DEVELOPMENT AUTHORITY, TO LAUNCH THE MONTCO MADE INVESTMENT INITIATIVE, A PARTNERSHIP COMMITTING $1 MILLION IN INVESTMENT TO EMERGING AND GROWING COMPANIES LOCATED IN MONTGOMERY COUNTY. BEN FRANKLIN AND MCIDA ARE EACH COMMITTING $500,000 TO INVEST IN NEW TECHNOLOGY COMPANIES AND EXISTING COMPANIES LOOKING TO APPLY NEW TECHNOLOGIES TO THEIR BUSINESSES LOCATED IN MONTGOMERY COUNTY. 5193191 1 1 0 1 0 0 1 0 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 50 0 1 36 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X ROBIN CARROLL CONTROLLER 2159726700 4800 S 13TH STREET-BUILDING PHILADELPHIA PA 19112 ROSEANN B ROSENTHAL PRESIDENT THRU 12/31/20,CEO EMERITUS 39.00 X X 397958 0 32706 SCOTT NISSENBAUM PRESIDENT AND CEO (EFF 1/1/21) 55.00 X X 252639 0 41707 ADARE MCMILLAN CFO & ASSISTANT CORPORATE TREASURER 47.00 X 219831 0 38917 ANTHONY GREEN VP OF SCIENCE & TECHNOLOGY 44.00 X 197007 0 41761 MARGARET BRADLEY VICE PRESIDENT, STRATEGIC INITIATIVE 42.00 X 188377 0 47420 JENNIFER HARTT DIRECTOR OF INVESTMENTS-LIFE SCIENCE 54.00 X 203120 0 15358 RICHARD GENZER DIRECTOR, INVESTMENTS & IT 35.00 X 193529 0 22680 OMAR MENCIN DIRECTOR OF INVESTMENT PARTNERSHIPS 35.00 X 189428 0 10607 MARK TRABBOLD SR VP, STRATEGIC INITIATIVES GROUP 38.00 X 181772 0 12691 DORTHEA CHRUPCALA ASSISTANT CORPORATE SECRETARY 36.00 X 68668 0 35330 WILLIAM KIESLING COO & GENERAL COUNSEL (EFF 3/2021) 52.00 X 0 0 0 CHARLES M ROBINS CHAIR OF THE BOARD 3.00 X X 0 0 0 JANICE GIANNINI VICE CHAIR OF THE BOARD 3.00 X X 0 0 0 MINDY POSOFF CORPORATE SECRETARY 1.00 X X 0 0 0 ROBERT CIARUFFOLI CORPORATE TREASURER & FIN COMM CHAIR 2.00 X X 0 0 0 MATTHEW CALLAHAN DIRECTOR 1.00 X 0 0 0 JOHN CASTLEMAN DIRECTOR/CORPORATE DEVELOPMENT CO-CHAIR 2.00 X 0 0 0 ALAN J COHN DIRECTOR 2.00 X 0 0 0 DENISE DEVINE DIRECTOR 2.00 X 0 0 0 MIMI DRAKE DIRECTOR 1.00 X 0 0 0 LEROY JONES DIRECTOR 1.00 X 0 0 0 ORIM GRAVES DIRECTOR 2.00 X 0 0 0 NATE LENTZ DIRECTOR 2.00 X 0 0 0 JOHN A LOFTUS DIRECTOR 2.00 X 0 0 0 AMI MIRON DIRECTOR/INVESTMENT COMMITTEE CHAIR 1.00 X 0 0 0 JAMES D NARRON DIRECTOR 1.00 X 0 0 0 MR DOC PARGHI DIRECTOR 1.00 X 0 0 0 MICHAEL PURCELL DIRECTOR/AUDIT COMMITTEE CHAIR 2.00 X 0 0 0 TIMOTHY REESE DIRECTOR/GOVERNANCE & NOMINATING COMM CHAIR 2.00 X 0 0 0 VINCE ROGUSKY DIRECTOR 1.00 X 0 0 0 TUCKER TWITMYER DIRECTOR 1.00 X 0 0 0 NICK WILKINSON DIRECTOR/CORPORATE DEVELOPMENT CO-CHAIR 1.00 X 0 0 0 2092329 0 299177 18 0 1 0 5370 TECHNOLOGIES SOLUTIONS 26 N MAIN STREET DOYLESTOWN PA 18901 IT CONSULTANT 142701 EISNERAMPER LLP 130 N 18TH STREET STE 3000 PHILADELPHIA PA 19103 AUDIT & TAX SERVICES 107250 2 5130220 5130220 LOAN INTEREST 900099 2487797 2487797 LOAN MAINTENANCE FEES 900099 143651 143651 APPLICATION & CLOSING FEES 900099 17500 17500 2648948 281699 281699 12385 12385 821286 890105 -68819 -68819 -68819 6851632 5493570 1358062 1358062 1358062 9362495 2648948 0 1583327 25000 25000 1390445 593304 797141 3488984 2321138 1167846 206481 183879 22602 342640 168338 174302 315443 221289 94154 40222 13024 27198 71750 71750 115281 115281 346559 234285 112274 60092 60092 120689 26774 93915 169248 28621 140627 398392 398392 8582 297 8285 48187 48187 53669 53669 94201 104 94097 PROVISION FOR INTEREST 694709 694709 PROVISION FOR LOAN LOSS 271048 271048 OTHER EXPENSES 109363 63687 45676 PORTFOLIO MGMT 90638 90638 81683 81683 8543306 5193191 3350115 0 1953417 5273589 3646010 3884417 179086 229144 5183307 5290075 6266177 2246219 4165934 4019958 11966385 12085828 9853547 11430772 56577226 71227377 712041 666820 94236953 114107980 643973 1361807 2051694 1237012 3586435 3462510 5670367 9036556 1000000 1000000 12952469 16097885 X 81284484 98010095 81284484 98010095 94236953 114107980 819189 15906422 0 X 0 1 X 1 0 X 10108896 6460390 4867316 3278317 5130220 29845139 10108896 6460390 4867316 3278317 5130220 29845139 29845139 210114 350984 556974 637207 410465 2165744 126260 199228 50644 154324 530456 32541339 16876904 0.91710 0.92360 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 115281 115281 8613225 8728506 586425 146606 0 0 631921 536172 632529 586425 2387047 3580571 107914 108356 118473 115281 450024 157980 134043 158132 146606 596761 895142 X X 1 1.72 1 0 1 1 125.00 3328 1 683333 683333 3688854 507692 3181162 689481 630563 58918 337058 256583 80475 867451 851381 16070 4019958 VANGUARD ULTRA - SHORT - TERM BOND ADMIRAL 11430772 F 11430772 LOANS RECEIVABLE, NET 20581477 F PRIVATE EQUITIES 41414806 F WARRANTS 2685373 F VENTURE FUNDS 4692147 F OTHER 405983 F PUBLICLY HELD SHARES 36216 F CAPITAL POOLS 1411375 F 71227377 LINE OF CREDIT 1000000 1000000 X PART II, LINE 5: THE BUILDING IS INSPECTED FOR DEFICIENCIES ON THE PRESERVATION ALLIANCE'S MINIMUM MAINTENANCE PROGRAM. WE HAVE A REGULARLY SCHEDULED TECHNICIAN ON SITE WEEKLY, WHO ALSO REVIEWS THE SITE FOR ANY DEFICIENCIES. 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, 2021 AND 2020, 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. BEN FRANKLIN RECORDS EXPENSES FOR MEETING THE EASEMENT REQUIREMENTS AS THEY ARE INCURRED. 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. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF BEN FRANKLIN AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR FURTHER DISCLOSURE IN THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. BEN FRANKLIN IS 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 FOR EITHER OF THE YEARS ENDED JUNE 30, 2021 OR 2020. 1 NEURALERT 2025 WASHINGTON AVE PHILADELPHIA PA 19146 834688289 10000 FABNET MATCHING FUNDS RHEO TEK MEDICAL 2275 BRIDGE ST BLDG 209 - STE 210 PHILADELPHIA PA 19137 853898624 5000 PRIMA MATCHING FUNDS OSCIFLEX 5066 WEST CHESTER PIKE NEWTOWN SQUARE PA 19073 823429730 10000 PRIMA MATCHING FUNDS 0 3 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF AWARDS: THE ORGANIZATION MONITORS THE USE OF FUNDS AWARDED BY PUTTING EACH AWARD THROUGH SEVERAL ROUNDS OF REVIEW DURING THE APPLICATION PROCESS, THE CONTRACTING PROCESS, REPORTING AND PAYMENT PROCESS. THE BOARD OF DIRECTORS HAS ULTIMATE AUTHORITY FOR ALLOCATION OF FUNDS. FOR TECHNOLOGY COMMERCIALIZATION AWARDS: 1. THE PROJECTS ARE REVIEWED INTERNALLY BY THE TECHNOLOGY COMMERCIALIZATION AND INVESTMENT GROUPS, AND IF ELIGIBLE FOR THE AWARD PROGRAM, TWO OUTSIDE REVIEWS ARE COMPLETED FOR RELEVANCY TO THE AWARD MISSION AND PROJECT SUCCESS PROBABILITY. 2. APPROVED PROJECTS ARE REVIEWED BY THE GRANT AND CONTRACT ACCOUNTANT TO ENSURE COMPLIANCE WITH AWARDS THRESHOLDS. 3. PROJECTS THAT MEET REQUIREMENTS IN THESE AREAS MOVE ON TO THE CONTRACTING PHASE. 4. THE BOARD OF DIRECTORS HAS ULTIMATE AUTHORITY FOR ALLOCATION OF FUNDS. AT THE CONTRACTING PHASE FOR ALL AWARDS: 1. THE GRANT AND CONTRACT ACCOUNTANT CREATES A CONTRACT. THE CONTRACT TEMPLATES WERE CREATED BY BEN FRANKLIN'S ATTORNEYS AND INCORPORATES ALL GRANT/AWARD REQUIREMENTS. 2. THE CONTRACT IS CIRCULATED FOR REVIEW, APPROVAL, AND SIGNATURE BY THE PROJECT MANAGER (VP THAT IS HEADING UP THE INITIATIVE), CONTROLLER, CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER & GENERAL COUNSEL AND CEO. AWARD REPORTING AND PAYMENT: 1. BEN FRANKLIN RECEIVES QUARTERLY UPDATES ON EACH AWARDED PROJECT AS WELL AS DETAILED INVOICES WHICH ARE REVIEWED BY THE GRANT AND CONTRACT ACCOUNTANT, VICE PRESIDENT, ASSISTANT CONTROLLER, CONTROLLER, CHIEF FINANCIAL OFFICER AND THE CHIEF OPERATING OFFICER & GENERAL COUNSEL. X X X X X 0 0 0 0 0 0 0 0 0 ROSEANN B ROSENTHAL PRESIDENT THRU 12/31/20,CEO EMERITUS 397958 0 0 0 0 0 11400 0 21306 0 430664 0 0 0 SCOTT NISSENBAUM PRESIDENT AND CEO (EFF 1/1/21) 252639 0 0 0 0 0 10273 0 31434 0 294346 0 0 0 ADARE MCMILLAN CFO & ASSISTANT CORPORATE TREASURER 219831 0 0 0 0 0 6786 0 32131 0 258748 0 0 0 ANTHONY GREEN VP OF SCIENCE & TECHNOLOGY 197007 0 0 0 0 0 8011 0 33750 0 238768 0 0 0 MARGARET BRADLEY VICE PRESIDENT, STRATEGIC INITIATIVE 188377 0 0 0 0 0 6523 0 40897 0 235797 0 0 0 JENNIFER HARTT DIRECTOR OF INVESTMENTS-LIFE SCIENCE 203120 0 0 0 0 0 8152 0 7206 0 218478 0 0 0 RICHARD GENZER DIRECTOR, INVESTMENTS & IT 193529 0 0 0 0 0 7100 0 15580 0 216209 0 0 0 OMAR MENCIN DIRECTOR OF INVESTMENT PARTNERSHIPS 189428 0 0 0 0 0 7556 0 3051 0 200035 0 0 0 MARK TRABBOLD SR VP, STRATEGIC INITIATIVES GROUP 181772 0 0 0 0 0 7189 0 5502 0 194463 0 0 0 FORM 990, PART III, LINE 4B TEMPLE VENTURES IS A $1 MILLION CO-INVESTMENT PARTNERSHIP DESIGNED TO ASSIST STARTUP COMPANIES ADVANCING TEMPLE UNIVERSITY-CREATED TECHNOLOGIES. THE PARTNERSHIP WAS DESIGNED TO HELP CREATE INDEPENDENT STARTUP VENTURES IN THE GREATER PHILADELPHIA AREA FROM TEMPLE-BASED TECHNOLOGIES. TEMPLE AND BEN FRANKLIN INVEST BOTH CAPITAL AND CONSULTING RESOURCES TO DEVELOP GREAT IDEAS INTO PROMISING BUSINESSES. BEN FRANKLIN UTILIZES ITS CAPITAL, COUNSEL, AND CONNECTIONS TO HELP DEVELOP COMMERCIALIZATION STRATEGIES FROM THOSE TECHNOLOGIES, AND PROVIDE CRITICAL ACCESS TO THE REGION'S BROADER TECHNOLOGY INVESTMENT COMMUNITY. BEN FRANKLIN FABNET IS AN ADVANCED MANUFACTURING RESOURCE TO EMERGING VENTURES FOCUSED ON TRANSFORMING EARLY STAGE IDEAS AND INVENTIONS BASED ON OR ENABLED BY ADVANCED MANUFACTURING INTO PROTOTYPES OF COMMERCIAL PRODUCTS. STRUCTURED AS A VIRTUAL ACCELERATOR, FABNET'S 17 REGIONAL PARTNERS PROVIDE A NETWORK OF DESIGNERS, PROTOTYPERS, ENGINEERS, AND SMALL MANUFACTURERS THAT OFFER COMPANIES: 1) A PARTNERSHIP FOR DESIGN, RAPID PROTOTYPING, AND FABRICATION UTILIZING ADVANCED MANUFACTURING TECHNOLOGIES; 2) MATCHING FUNDS FOR REGIONAL COMPANIES THAT WISH TO INTEGRATE NEW DESIGN, PROTOTYPING, AND FABRICATION TECHNIQUES WITH THEIR BUSINESSES; AND 3) REDUCED TIME AND EXPENSE OF PROTOTYPE DEVELOPMENT THROUGH ACCESS TO SPECIALIZED FACILITIES, EQUIPMENT, AND EXPERTISE REQUIRED FOR DESIGN, SIMULATION, AND FABRICATION OF PRODUCTS. A VIRTUAL LIFE SCIENCES TECHNOLOGY CENTER, THE PHILADELPHIA REGION INTEGRATED MEDICINE ALLIANCE (PRIMA) WORKS TO EXPAND THE NETWORK OF RESOURCES AND SERVICE PROVIDERS WILLING TO WORK WITH EARLY STAGE COMPANIES AND ENTREPRENEURIAL FACULTY TO ACCELERATE THE COMMERCIALIZATION OF NOVEL TECHNOLOGIES. PRIMA FEATURES TWO MAIN COMPONENTS: A VIRTUAL NETWORK OF SERVICE PROVIDERS, THE PRIMA VIRTUAL COMMERCIALIZATION CENTER, TO ADVANCE COMMERCIALIZATION OF GROUNDBREAKING LIFE SCIENCE TECHNOLOGIES; AND PROGRAMS AND OPPORTUNITIES TO DEVELOP AND EXPAND A KNOWLEDGE WORKFORCE THROUGH STRATEGIC PARTNERSHIPS WITH TRAINING PROGRAMS AT THE REGION'S COMMUNITY COLLEGES AND RESEARCH INSTITUTIONS. 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 ASSISTANT CONTROLLER AND CONTROLLER. IF FOUND TO BE COMPLETE AND SATISFACTORY, THE 990 IS PRESENTED TO THE COO AND GENERAL COUNSEL AND THE CEO FOR REVIEW. THE FINAL REVIEW PRIOR TO SUBMISSION TO THE IRS IS AT THE BOARD COMMITTEE LEVEL. 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 A COMPLETE LIST OF CONFLICTS IS COMPILED ON A YEARLY BASIS AND REVIEWED BY THE BOARD CHAIRPERSON, CEO, CFO, COO & GENERAL COUNSEL AND THE ASSISTANT SECRETARY OF THE ORGANIZATION. YEARLY DISCLOSURE STATEMENTS ARE DELIVERED, MAILED, AND EMAILED TO EMPLOYEES, BOARD MEMBERS, COMMITTEE MEMBERS, DUE DILIGENCE CONSULTANTS, PORTFOLIO MANAGERS, AS WELL AS ANY ADDITIONAL GENERAL CONSULTANTS. 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. MANAGEMENT MAKES ITS RECOMMENDATION BASED ON EMPLOYEE PERFORMANCE, GOAL ACHIEVEMENT, AND EXTERNAL ANALYSES OF CURRENT MARKET SALARY DATA. THE COMPENSATION SUBCOMMITTEE REVIEWS RECOMMENDATIONS AND RELATED SUPPORT WITH MANAGEMENT AND APPROVES WHERE APPROPRIATE. COMPENSATION SUBCOMMITTEE REVIEW AND APPROVAL OF COMPENSATION CHANGES ARE APPROPRIATELY 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. 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