Civic Intelligence

Bensalem Economic Development Corporation

990 • Fiscal year 2018 • EIN 75-2977069

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 11, 2019

Organization ProfileWWW.BENSALEM-EDC.COM
2400 Byberry RoadBensalem, PA 19020

(215) 633-3681

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

90th percentile

23%

Higher net margin than 90% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

25th percentile

$26,000

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 18.3% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

53rd percentile

3.1%

Faster asset growth than 53% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

5th percentile

-26%

Faster revenue growth than 5% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$1,111,149

Up $33,281 (+3.1%) from 2017

Net Assets

Up

$1,111,149

Up $33,281 (+3.1%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin90th percentile

Revenue

Down

$141,725

Down $49,147 (-26%) from 2017

Expenses

Up

$108,444

Up $20,712 (+24%) from 2017

Net Income

Down

$33,281

Down $69,859 (-68%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $175,214Liabilities 2010: $0Net Assets 2010: $175,2142010Assets 2011: $174,994Liabilities 2011: $0Net Assets 2011: $174,9942011Assets 2012: $182,356Liabilities 2012: $0Net Assets 2012: $182,3562012Assets 2013: $172,207Liabilities 2013: $0Net Assets 2013: $172,2072013Assets 2014: $1,018,925Liabilities 2014: $0Net Assets 2014: $1,018,9252014Assets 2015: $996,975Liabilities 2015: $0Net Assets 2015: $996,9752015Assets 2016: $974,728Liabilities 2016: $0Net Assets 2016: $974,7282016Assets 2017: $1,077,868Liabilities 2017: $0Net Assets 2017: $1,077,8682017Assets 2018: $1,111,149Liabilities 2018: $0Net Assets 2018: $1,111,1492018Assets 2019: $1,232,304Liabilities 2019: $0Net Assets 2019: $1,232,3042019Assets 2020: $1,295,132Liabilities 2020: $0Net Assets 2020: $1,295,1322020Assets 2021: $1,488,681Liabilities 2021: $0Net Assets 2021: $1,488,6812021Assets 2022: $1,189,026Liabilities 2022: $0Net Assets 2022: $1,189,0262022Assets 2023: $1,269,196Liabilities 2023: $0Net Assets 2023: $1,269,1962023Assets 2024: $1,323,907Liabilities 2024: $0Net Assets 2024: $1,323,9072024

Highlighted filing

2018

Assets$1,111,149
Liabilities$0
Net Assets$1,111,149
Open 2018 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $100,8472010Expenses 2011: $90,1792011Expenses 2012: $97,0232012Revenue 2013: $103,319Expenses 2013: $113,468Net Income 2013: -$10,1492013Revenue 2014: $982,411Expenses 2014: $135,693Net Income 2014: $846,7182014Revenue 2015: $58,375Expenses 2015: $80,325Net Income 2015: -$21,9502015Revenue 2016: $69,916Expenses 2016: $92,163Net Income 2016: -$22,2472016Revenue 2017: $190,872Expenses 2017: $87,732Net Income 2017: $103,1402017Revenue 2018: $141,725Expenses 2018: $108,444Net Income 2018: $33,2812018Revenue 2019: $83,621Expenses 2019: $78,659Net Income 2019: $4,9622019Revenue 2020: $12,232Expenses 2020: $41,866Net Income 2020: -$29,6342020Revenue 2021: $108,269Expenses 2021: $77,399Net Income 2021: $30,8702021Revenue 2022: $47,921Expenses 2022: $111,486Net Income 2022: -$63,5652022Revenue 2023: $153,842Expenses 2023: $167,532Net Income 2023: -$13,6902023Revenue 2024: $152,640Expenses 2024: $180,186Net Income 2024: -$27,5462024

Highlighted filing

2018

Revenue$141,725
Expenses$108,444
Net Income$33,281
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$159,588
Mission and Program Overview

Mission

To facilitate business working with government in a friendly environment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$1,077,868$1,111,149▲ $33,281
Investments in Publicly Traded Securities$874,249$675,172▼ $199,077
Other Notes and Loans Receivable, Net-$247,316-
Savings and Temporary Cash Investments$203,619$188,662▼ $14,957
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cash and Non-Interest-Bearing Accounts-$-1-
Total Assets$1,077,868$1,111,149▲ $33,281
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,077,868$1,111,149▲ $33,281
Total Liabilities and Net Assets / Fund Balance$1,077,868$1,111,149▲ $33,281
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
George FloccoExecutive DirectorPT$26,000$26,000

Board Members and Trustees

NameTitle
Al GouglerBoard of Director
Art SoudersBoard of Director
Bob BraubitzBoard of Director
Brian CummingsBoard of Director
Cliff GreerBoard of Director
Dave FacklerBoard of Director
Frank MacomberBoard of Director
Jim HumphreysBoard of Director
Joe DepascaleBoard of Director
John CostelloBoard of Director
Leo WesolowskiBoard of Director
Matt EtzrodtBoard of Director
Paul GiordanoBoard of Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,666
Investment Income
$102,629
Other Revenue
$34,430
Change in Net Assets
$33,281
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$80,142
Salaries, Compensation, and Employee Benefits$28,302
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons---$26,000
Insurance---$6,211
Other Expenses---$4,566
Office Expenses---$2,942
Payroll Taxes---$2,302
All Other Expenses---$1,102
Fees for Services Other---$988
Fees for Services Accounting---$725
Fees for Services Legal---$347
Total Functional Expenses$0$0$0$108,444
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$52,293
Fundraising Direct Expenses$17,863
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$52,293$52,293$17,863$34,430
Total Events$52,293$52,293$17,863$34,430
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Upon receipt of the prepared tax return all board members will have the right to inspect and review the return prior to submission with the appropriate taxing authorities.”

Form 990, Part VI, Section B, Line 12C

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b.) has read and understands the policy, c.) has agreed to comply with the policy, and d.) understands the origanization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

Form 990, Part VI, Section B, Line 15A

“The origination deliberated salary compensation for george flocco at a monthly board meeting. While no salary comparision was performed. The amount of compensation agreed upon for mr. Flocco was deemed adequate for the duties he performs.”

Form 990, Part VI, Section C, Line 19

“The organization has made its governing documents available for public inspection by making them accessible through request. The organization does not currently have a written conflict of interest policy. The organization has no financial reporting requirement. All financial information is included with the township of bensalem's financial statements and can be provided upon request.”

Filing and Contact Details

Filer

Filer Name
Bensalem Economic Development
EIN
75-2977069
Phone
2156333681
Address
2400 BYBERRY ROAD, BENSALEM, PA 19020

Signing Officer

Name
Alwyn Gougler
Title
Chairman
Phone
2153222199
Signed
2019-11-11

Organization Details

Principal Officer
Alwyn Gougler
Formed
2001
Legal Domicile
Pa
Voting Board Members
13
Independent Board Members
13
Employees
1
Volunteers
0

Preparer

Firm
Giordano & Assoc Cpas Pc
Address
ONE NORTH WILSON AVENUE-SUITE 2, BRISTOL, PA 19007
Preparer
James D Keiser Iii
Phone
2157852600
Raw XML Appendix361 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ScheduleBRequiredInd00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt017863
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt052293
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt052293
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt052293
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt052293
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt034430
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt017863
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt017863
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UPON RECEIPT OF THE PREPARED TAX RETURN ALL BOARD MEMBERS WILL HAVE THE RIGHT TO INSPECT AND REVIEW THE RETURN PRIOR TO SUBMISSION WITH THE APPROPRIATE TAXING AUTHORITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B.) HAS READ AND UNDERSTANDS THE POLICY, C.) HAS AGREED TO COMPLY WITH THE POLICY, AND D.) UNDERSTANDS THE ORIGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORIGINATION DELIBERATED SALARY COMPENSATION FOR GEORGE FLOCCO AT A MONTHLY BOARD MEETING. WHILE NO SALARY COMPARISION WAS PERFORMED. THE AMOUNT OF COMPENSATION AGREED UPON FOR MR. FLOCCO WAS DEEMED ADEQUATE FOR THE DUTIES HE PERFORMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS MADE ITS GOVERNING DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION BY MAKING THEM ACCESSIBLE THROUGH REQUEST. THE ORGANIZATION DOES NOT CURRENTLY HAVE A WRITTEN CONFLICT OF INTEREST POLICY. THE ORGANIZATION HAS NO FINANCIAL REPORTING REQUIREMENT. ALL FINANCIAL INFORMATION IS INCLUDED WITH THE TOWNSHIP OF BENSALEM'S FINANCIAL STATEMENTS AND CAN BE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01077868
IRS990/TotalAssetsEOYAmt01111149
IRS990/TotalAssetsGrp/BOYAmt01077868
IRS990/TotalAssetsGrp/EOYAmt01111149
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/TotalAmt0108444
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01077868
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01111149
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt04666
IRS990/TotalReportableCompFromOrgAmt026000
IRS990/TotalRevenueGrp/ExclusionAmt034430
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0107295
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0141725
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01077868
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01111149
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04339 OLD LINCOLN HIGHWAY
IRS990/USAddress/CityNm0TREVOSE
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019053
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0HTTP://WWW.BENSALEM-EDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ALWYN GOUGLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02153222199
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BENSALEM ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0BENS
ReturnHeader/Filer/EIN0752977069
ReturnHeader/Filer/PhoneNum02156333681
ReturnHeader/Filer/USAddress/AddressLine1Txt02400 BYBERRY ROAD
ReturnHeader/Filer/USAddress/CityNm0BENSALEM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019020
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00BFC34BB0A1EF62E23A0AC4549921E642A8FB7CF
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00F0C1114912C6FCA5CC41CAAB7988E85B652D846
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.91.60.17
ReturnHeader/FilingSecurityInformation/IPDt02019-11-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm014:11:56
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0233099625
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GIORDANO & ASSOC CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE NORTH WILSON AVENUE-SUITE 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRISTOL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019007
ReturnHeader/PreparerPersonGrp/PhoneNum02157852600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES D KEISER III
ReturnHeader/ReturnTs02019-11-11T13:12:06-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,111,149
Liabilities
$0
Net assets
$1,111,149
Revenue
$141,725
Expenses
$108,444
Net income
$33,281
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.32$0.00$1.32$0.15$0.18$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.00$1.27$0.15$0.17$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.05$0.11$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.49$0.00$1.49$0.11$0.08$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$0.01$0.04$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.23$0.00$1.23$0.08$0.08$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.14$0.11$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.08$0.00$1.08$0.19$0.09$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.97$0.00$0.97$0.07$0.09$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$0.06$0.08$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.98$0.14$0.85
2013Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.10$0.11$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.00$0.17$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.00$0.18$0.10