Civic Intelligence

Bensalem Economic Development Corporation

990 • Fiscal year 2022 • EIN 75-2977069

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 30, 2023

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

11th percentile

0.00x

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

11th percentile

0.00x

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

1st percentile

-133%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

29th percentile

$54,000

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 112.7% of source-year revenue.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

7th percentile

-20%

Faster asset growth than 7% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

2nd percentile

-56%

Faster revenue growth than 2% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets11th percentile

Assets

Down

$1,189,026

Down $299,655 (-20%) from 2021

Net Assets

Down

$1,189,026

Down $299,655 (-20%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin1st percentile

Revenue

Down

$47,921

Down $60,348 (-56%) from 2021

Expenses

Up

$111,486

Up $34,087 (+44%) from 2021

Net Income

Down

-$63,565

Down $94,435 (-306%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2022

Assets$1,189,026
Liabilities$0
Net Assets$1,189,026
Open 2022 Filing

Operations Trend

Revenue Growth2nd 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

2022

Revenue$47,921
Expenses$111,486
Net Income-$63,565
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 30, 2023
Return Version
2022v5.0
Gross Receipts
$63,643
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$1,488,681$1,189,026▼ $299,655
Investments in Publicly Traded Securities$1,362,585$1,142,342▼ $220,243
Savings and Temporary Cash Investments$126,096$46,684▼ $79,412
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$1,488,681$1,189,026▼ $299,655
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,488,681$1,189,026▼ $299,655
Total Liabilities and Net Assets / Fund Balance$1,488,681$1,189,026▼ $299,655
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert NorkusBoard of DirectorPT$54,000$54,000

Board Members and Trustees

NameTitle
Al GouglerBoard of Director
Arch SharmaBoard of Director
Ashley ThomasBoard of Director
Brian CummingsBoard of Director
Cliff GreerBoard of Director
Dave FacklerBoard of Director
Jim HumphreysBoard of Director
John CostelloBoard of Director
Leo WesolowskiBoard of Director
Mayor DigirolamoBoard of Director
Michael CookBoard of Director
Pat DuffyBoard of Director
Steve NollBoard of Director
Tommy TomlinsonBoard of Director
Sam MadullaExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$15,854
Other Revenue
$32,067
Change in Net Assets
$-63,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$58,542
Other Expenses$52,944
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$54,000
Office Expenses---$7,470
Insurance---$4,979
Payroll Taxes---$4,542
Advertising---$4,273
Conferences and Meetings---$2,440
Fees for Services Accounting---$800
Fees for Services Other---$565
Other Expenses---$208
Fees for Services Legal---$-357
Total Functional Expenses$0$0$0$111,486
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$47,789
Fundraising Direct Expenses$15,722
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$47,789$47,789$15,722$32,067
Total Events$47,789$47,789$15,722$32,067
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 35% controlled entity
No
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
2023-06-30

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
KEISER GIORDANO CPA'S PC
Address
141 FRIENDS LANE, NEWTOWN, PA 18940
Preparer
James D Keiser Iii
Phone
2157852600
Raw XML Appendix362 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/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0126096
IRS990/SavingsAndTempCashInvstGrp/EOYAmt046684
IRS990/ScheduleBRequiredInd00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt015722
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt047789
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt047789
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt047789
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt047789
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt032067
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt015722
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt015722
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/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01488681
IRS990/TotalAssetsEOYAmt01189026
IRS990/TotalAssetsGrp/BOYAmt01488681
IRS990/TotalAssetsGrp/EOYAmt01189026
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/TotalAmt0111486
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01488681
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01189026
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt054000
IRS990/TotalRevenueGrp/ExclusionAmt032067
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt015854
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt047921
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01488681
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01189026
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ALWYN GOUGLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02153222199
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-30
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/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0233099625
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KEISER GIORDANO CPA'S PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0141 FRIENDS LANE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEWTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd018940
ReturnHeader/PreparerPersonGrp/PhoneNum02157852600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES D KEISER III
ReturnHeader/ReturnTs02023-06-30T10:43:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALWYN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GOUGLER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,189,026
Liabilities
$0
Net assets
$1,189,026
Revenue
$47,921
Expenses
$111,486
Net income
-$63,565
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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

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