Reliabilityfirst Corporation
- Assets
- $23.7m
- Revenue
- $27.8m
- Investments
- $0.0
- Employees
- 125
- Location
- Cleveland, OH
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 14-1933339
Organization Overview
Reliabilityfirst Corporation is located in Cleveland, OH. The organization was established in 2014. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Reliabilityfirst Corporation employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reliabilityfirst Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Reliabilityfirst Corporation generated $27.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $28.0m during the year ending 12/2023. While expenses have increased by 5.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RELIABILITYFIRST IS A REGIONAL ENTITY WITHIN THE NORTH AMERICAN RELIABILITY CORPORATION (NERC) WHOSE GENERAL PURPOSE IS TO PRESERVE AND ENHANCE THE RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM FOR THE INTERCONNECTED ELECTRIC SYSTEMS WITHIN THE RELIABILITYFIRST GEOGRAPHIC AREA (ACROSS 13 STATES AND THE DISTRICT OF COLUMBIA).
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELIABILITY ASSURANCE AND COMPLIANCE MONITORING - THE RELIABILITY ASSURANCE AND COMPLIANCE MONITORING PROGRAM IDENTIFIED RISKS IMPACTING ENTITIES, EVALUATED THE EFFECTIVENESS OF ENTITIES' INTERNAL CONTROLS AROUND SPECIFIC RELIABILITY STANDARDS AND REQUIREMENTS, EVALUATED ENTITIES' CAPABILITIES IN KEY MANAGEMENT PRACTICE AREAS, TAILORED TRAINING CENTERED ON THE NEEDS OF ENTITIES, AND MONITORED COMPLIANCE TO THE NERC RELIABILITY STANDARDS.
ENFORCEMENT - THE ENFORCEMENT PROGRAM ENFORCED COMPLIANCE WITH RELIABILITY STANDARDS. STAFF ENSURED THAT THE SELECTED DISPOSITION METHOD FOR ANY NONCOMPLIANCE WAS CONSISTENT WITH THE RISK POSED BY THE NONCOMPLIANCE, WAS ADEQUATELY SUPPORTED BY THE RECORD, AND PROMOTED DESIRED ENTITY BEHAVIORS TO ENHANCE RELIABILITY.
ASSESSMENT - THE ASSESSMENT PROGRAM ANALYZED, ASSESSED, AND REPORTED ON THE RELIABILITY AND ADEQUACY OF THE BULK ELECTRIC SYSTEM WITHIN THE RELIABILITYFIRST FOOTPRINT. STAFF HELPED IDENTIFY AND ASSESS RISKS ACROSS THE FOOTPRINT AND ITS DELIVERABLES WERE A MAJOR CONTRIBUTOR TO THE RISK BASED EFFORTS OF THE ENTIRE ORGANIZATION. THIS WORK INCLUDED THE PERFORMANCE OF RESOURCE AND TRANSMISSION ASSESSMENT STUDIES; SPECIAL ANALYSES AND INVESTIGATIONS AS WARRANTED; AND THE COLLECTION AND DISSEMINATION OF DATA, LESSONS LEARNED, AND OTHER INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick A Cass Director | Trustee | 4 | $118,189 |
Courtney Geduldig Director Until 12/31/23 | Trustee | 4 | $106,939 |
Joanna Burkey Director | Trustee | 5 | $106,939 |
Antonio Smythe Director - Chair | Trustee | 2 | $0 |
Nelson Peeler Director - Vice Chair | Trustee | 2 | $0 |
Simon Whitelocke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,606,336 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,606,336 |
| Total Program Service Revenue | $0 |
| Investment income | $198,992 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$673 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,805,910 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,629,798 |
| Compensation of current officers, directors, key employees. | $2,083,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,440,028 |
| Pension plan accruals and contributions | $2,738,320 |
| Other employee benefits | $2,236,933 |
| Payroll taxes | $1,103,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,676 |
| Fees for services: Accounting | $99,704 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,932 |
| Fees for services: Other | $701,246 |
| Advertising and promotion | $0 |
| Office expenses | $206,482 |
| Information technology | $881,812 |
| Royalties | $0 |
| Occupancy | $771,094 |
| Travel | $449,479 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $192,175 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $304,254 |
| Insurance | $120,661 |
| All other expenses | $39,038 |
| Total functional expenses | $27,952,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,215,892 |
| Savings and temporary cash investments | $182,856 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,807 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $198,814 |
| Net Land, buildings, and equipment | $928,660 |
| Investments—publicly traded securities | $10,102,704 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,042,685 |
| Total assets | $23,703,418 |
| Accounts payable and accrued expenses | $6,075,500 |
| Grants payable | $0 |
| Deferred revenue | $350,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,109,621 |
| Total liabilities | $11,535,121 |
| Net assets without donor restrictions | $12,168,297 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,703,418 |