Griffiss Utility Services Corporation
- Assets
- $55.6m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Rome, NY
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 16-1592039
Organization Overview
Griffiss Utility Services Corporation is located in Rome, NY. The organization was established in 2001. 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 12/2021, Griffiss Utility Services Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Griffiss Utility Services 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 12/2021, Griffiss Utility Services Corporation generated $10.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $10.5m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GUSC WAS ORGANIZED TO ASSIST GRIFFISS LOCAL DEVELOPMENT CORPORATION (GLDC) IN THEIR MISSION TO REDEVELOP GRIFFISS BUSINESS AND TECHNOLOGY PARK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GUSC IS ORGANIZED TO SUPPORT THE RESTRUCTURE, REFORM AND REALIGNMENT OF GRIFFISS BUSINESS & TECHNOLOGY PARK BY ACQUIRING, MAINTAINING AND SELLING UTILITIES TO PARK TENNANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Maneen President/ceo | Officer | 37.5 | $245,586 |
Aaron Falkenmeyer COO | Officer | 37.5 | $135,469 |
Mike Davis Vice President Operations | 37.5 | $133,069 | |
Michael Sheridan Vice Chairman | OfficerTrustee | 1 | $0 |
William Stevens Member | OfficerTrustee | 1 | $0 |
Timothy Woods Asst Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New York Power Authority Electricity Supplier | 12/30/21 | $882,297 |
Direct Energy Business Electricity & Gas Supplier | 12/30/21 | $2,300,093 |
National Grid Electricity Supplier | 12/30/21 | $728,611 |
National Grid - Gas Natural Gas Supplier | 12/30/21 | $137,070 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $10,162,164 |
| Investment income | $316,896 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,810 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,494,870 |
| 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. | $448,445 |
| Compensation of current officers, directors, key employees. | $237,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,260 |
| Pension plan accruals and contributions | $46,637 |
| Other employee benefits | $133,473 |
| Payroll taxes | $61,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,230 |
| Fees for services: Accounting | $28,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,538 |
| Fees for services: Other | $46,652 |
| Advertising and promotion | $0 |
| Office expenses | $51,318 |
| Information technology | $19,370 |
| Royalties | $0 |
| Occupancy | $39,628 |
| Travel | $37,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,865,759 |
| Insurance | $141,585 |
| All other expenses | $79,584 |
| Total functional expenses | $10,522,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,624 |
| Savings and temporary cash investments | $4,130,907 |
| Pledges and grants receivable | $172,339 |
| Accounts receivable, net | $1,442,701 |
| 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 | $872,696 |
| Net Land, buildings, and equipment | $17,961,475 |
| Investments—publicly traded securities | $21,578,826 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,226,903 |
| Total assets | $55,633,471 |
| Accounts payable and accrued expenses | $601,797 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $560,114 |
| Total liabilities | $1,161,911 |
| Net assets without donor restrictions | $54,471,560 |
| 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 | $55,633,471 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tri-County Rural Electric Cooperative Inc Mansfield, PA | $151,909,574 | $33,038,928 |
United Electric Cooperative Inc Du BOIS, PA | $114,867,848 | $31,031,818 |
Central Electric Cooperative Inc Parker, PA | $123,976,880 | $28,207,685 |
Somerset Rural Electric Cooperative Inc Somerset, PA | $44,691,676 | $24,950,814 |
Sussex Rural Electric Cooperative Inc Sussex, NJ | $50,512,661 | $23,931,586 |
Tm Forum Parsippany, NJ | $17,539,747 | $22,734,515 |
School And Municipal Energy Cooperative Of Western New York West Seneca, NY | $5,155,004 | $20,423,578 |
Rea Energy Cooperative Inc Indiana, PA | $139,260,164 | $26,641,958 |
Claverack Rural Electric Cooperative Inc Wysox, PA | $106,788,216 | $23,056,414 |
Northwestern Rural Electric Cooperative Association Inc Cambridge Springs, PA | $114,436,291 | $21,945,807 |
Valley Rural Electric Cooperative Inc Huntingdon, PA | $99,255,907 | $22,053,014 |
Bedford Rural Electric Cooperative Inc Bedford, PA | $56,175,004 | $11,935,648 |