Serc Reliability Corporation is located in Charlotte, NC. The organization was established in 2014. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Serc Reliability Corporation employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Serc Reliability Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Serc Reliability Corporation generated $25.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $24.7m during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SERC RELIABILITY CORPORATION (SERC) IS TO ASSURE EFFECTIVE AND EFFICIENT REDUCTION OF RISKS TO THE RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM. SERC PROVIDES STATUTORY FUNCTIONS CALLED FOR IN SECTION 215 OF THE FEDERAL POWER ACT, IN ACCORDANCE WITH ITS DELEGATION AGREEMENT BETWEEN SERC AND THE NORTH AMERICAN ELECTRIC RELIABILITY CORPORATION (NERC). SERC PROVIDES THE FOLLOWING FUNCTIONS: ANALYZE EVENTS TO IDENTIFY LESSONS LEARNED THAT WILL IMPROVE RELIABILITY; PROMOTE BPS RELIABILITY, ADEQUACY AND SECURITY; HELP DEVELOP RELIABILITY STANDARDS FOR THE NORTH AMERICAN BULK POWER SYSTEM (BPS) AND THE SERC REGION; MONITOR AND ENFORCE APPROVED MANDATORY RELIABILITY STANDARDS; REGISTER AND CERTIFY RESPONSIBLE ENTITIES UNDER THE RELIABILITY COMPLIANCE PROGRAM; ASSESS THE BPS PAST, PRESENT, AND FUTURE RISK PROFILE IN ORDER TO ASSURE RELIABILITY, ADEQUACY, AND SECURITY; AND TRAIN OPERATING PERSONNEL TO ASSURE COMPETENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPLIANCE MONITORING AND ENFORCEMENT PROGRAM (CMEP) IS THE LARGEST PROGRAM AREA AT SERC, AND IS IMPLEMENTED PURSUANT TO SERC'S DELEGATION AGREEMENT AND THE NERC UNIFORM CMEP DEVELOPED UNDER SECTION 215(C) OF THE FEDERAL POWER ACT AND APPROVED BY THE FEDERAL ENERGY REGULATORY COMMISSION. THE SERC CMEP IS IMPLEMENTED BY PERSONNEL THAT ARE INDEPENDENT OF STAKEHOLDERS AND REGISTERED ENTITIES. THE SERC CMEP IS FURTHER DIVIDED INTO FIVE AREAS: COMPLIANCE MONITORING; COMPLIANCE PROGRAMS AND SERVICES; ENTITY ASSESSMENT AND MITIGATION; ORGANIZATION REGISTRATION AND CERTIFICATION; AND ENFORCEMENT.1.) THE COMPLIANCE MONITORING AREA IS RESPONSIBLE FOR CONDUCTING COMPLIANCE AUDITS, SPOT CHECKS, AND COMPLIANCE INVESTIGATIONS; FOR SERVING AS SUBJECT MATTER EXPERTS FOR ALL STANDARDS; AND FOR IMPLEMENTING THE PROCESS FOR TECHNICAL FEASIBILITY EXCEPTIONS (TFE) TO THE NERC CRITICAL INFRASTRUCTURE PROTECTION (CIP) RELIABILITY STANDARDS.2.) THE COMPLIANCE PROGRAMS AND SERVICES AREA IS RESPONSIBLE FOR IMPLEMENTING AND DEPLOYING CMEP-RELATED ANALYTICS AND COMPLIANCE ASSESSMENTS.3.) THE ENTITY ASSESSMENT AND MITIGATION AREA IS RESPONSIBLE FOR IMPLEMENTING AND DEPLOYING ENTITY INHERENT RISK ASSESSMENTS (IRA) AND INTERNAL CONTROLS EVALUATIONS (ICE); FOR SERVING AS THE SINGLE POINT OF CONTACT FOR ALL NON-COMPLIANCE ISSUES DISCOVERED AND/OR SELF-REPORTED TO THE REGION; FOR DETERMINING THE COMPLETE SCOPE OF VIOLATIONS; FOR DETERMINING THE ACTUAL AND POTENTIAL RISK POSED BY VIOLATIONS TO BPS RELIABILITY; AND FOR REVIEWING REGISTERED ENTITY MITIGATING ACTIVITIES TO ENSURE THAT ENTITIES CORRECT ISSUES AND PREVENT RECURRENCE THROUGH APPROPRIATE MITIGATION.4.) THE ORGANIZATION REGISTRATION AND CERTIFICATION AREA IS RESPONSIBLE FOR REGISTERING OWNERS, OPERATORS, AND USERS OF THE BPS REQUIRED TO COMPLY WITH NERC RELIABILITY STANDARDS; AND FOR CERTIFYING APPLICABLE ENTITIES WHO PERFORM RELIABILITY-RELATED FUNCTIONS.5.) THE ENFORCEMENT AREA EVALUATES ALL POSSIBLE VIOLATIONS OF RELIABILITY STANDARDS BY SERC REGISTERED ENTITIES AND CONDUCTS A THOROUGH ASSESSMENT TO DETERMINE IF A VIOLATION ACTUALLY OCCURRED. THE ENFORCEMENT STAFF NOTIFIES THE REGISTERED ENTITY OF ITS FINDINGS REGARDING THE VIOLATION AND ANY APPLICABLE PENALTIES OR SANCTIONS. THE ENFORCEMENT STAFF MAY ALSO ENGAGE IN SETTLEMENT NEGOTIATIONS WITH THE REGISTERED ENTITY. THE PROPOSED ENFORCEMENT ACTION, ALONG WITH ANY PROPOSED PENALTY OR SANCTIONS, IS SUBMITTED TO NERC FOR ITS REVIEW AND APPROVAL, AND SUBSEQUENT SUBMITTAL TO FERC. IF A REGISTERED ENTITY CHALLENGES THE FINDINGS OF THE VIOLATION AND/OR PENALTY, THE ENFORCEMENT STAFF PROSECUTES THE CASE BEFORE A HEARING BODY MADE UP OF REPRESENTATIVES FROM THE NERC BOARD OF TRUSTEES AND SERC BOARD OF DIRECTORS.
THE SECOND LARGEST PROGRAM AT SERC IS THE RELIABILITY ASSESSMENTS AND PERFORMANCE ANALYSIS (RAPA) PROGRAM. SERC'S RAPA PROGRAM PROVIDES ANALYSIS, DATA GATHERING, AND ANALYSIS OF EVENTS ON THE BPS. THE RAPA FUNCTION IDENTIFIES RELIABILITY RISKS TO THE BPS IN THE SERC FOOTPRINT FOR THE PURPOSE OF INTEGRATED RISK ANALYSIS. RAPA'S MISSION IS TO PROMOTE A CULTURE OF RELIABILITY EXCELLENCE AMONG THE OWNERS OF BPS ASSETS. THE PROGRAM ACCOMPLISHES THIS MISSION BY IDENTIFYING RISKS TO RELIABILITY, ANALYZING PERFORMANCE AND PRIORITIZING SIGNIFICANT RISKS.SERC CONDUCTS AN INDEPENDENT RELIABILITY ASSESSMENT OF THE BPS WITHIN THE SERC REGION, INCLUDING DATA GATHERING AND ANALYSIS. THE ASSESSMENT PROGRAM USES INFORMATION FROM ITS INTERNAL DATA COLLECTION SOURCES ALONG WITH OTHER PROGRAMS, SUCH AS NERC TRANSMISSION AVAILABILITY DATA SYSTEM (TADS), GENERATING AVAILABILITY DATA SYSTEMS (GADS), AND DEMAND RESPONSE AVAILABILITY DATA SYSTEM (DADS). SERC EVALUATES THE OVERALL RELIABILITY, PERFORMANCE, AND ADEQUACY OF THE SERC REGION AND REPORTS ITS RESULTS TO NERC. SERC'S WORK SUPPORTS NERC'S OBLIGATION TO PERFORM SIMILAR ANALYSIS OF THE INTERCONNECTED NORTH AMERICAN BPS.
THE THIRD LARGEST PROGRAM IS TRAINING, EDUCATION, AND OPERATOR CERTIFICATION. THE SERC TRAINING, EDUCATION, AND OPERATOR CERTIFICATION PROGRAM PROVIDES EDUCATION AND TRAINING NECESSARY TO OBTAIN ESSENTIAL KNOWLEDGE ON THE OPERATIONS OF THE BPS. SERC TRAINING AND EDUCATION PROGRAMS SUPPORT THE CONTINUING EDUCATION CERTIFIED SYSTEM OPERATORS IN THE SERC REGION. THE PROGRAM'S TARGET AUDIENCE IS BPS OPERATING PERSONNEL, SYSTEM OPERATORS, OPERATIONS SUPPORT PERSONNEL, AND TRAINING PERSONNEL. SERC SUPPORTS THE DEVELOPMENT OF SERC'S STAFF TRAINING AND EDUCATION IN POWER SYSTEM OPERATING TOPICS.SERC ALSO PROVIDES EDUCATION TO REGISTERED ENTITIES THROUGH ROBUST OUTREACH ENGAGEMENTS, FOCUSING PRIMARILY ON COMPLIANCE ACTIVITIES, INTERNAL CONTROLS, AND EMERGING RELIABILITY ISSUES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jason Blake President/ceo | Officer | 40 | $722,588 |
Timothy Ponseti Vice President - Operations | Officer | 40 | $400,111 |
Holly Hawkins Vice President - General Counsel & Corporate Secre | Officer | 40 | $345,036 |
Brian Thumm Vice President - Performance Improvement & Risk Ma | Officer | 40 | $290,127 |
Melinda Montgomery Sr Director - Advanced Analytics & Technical Servi | 40 | $289,274 | |
George Krogstie CFO & Corporate Treasurer | Officer | 40 | $282,575 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Walser Technology Solutions It Contractors | 12/30/21 | $1,002,004 |
Spire Media Inc Dba Kin And Carta Custom Software Development | 12/30/21 | $662,106 |
Abel Solutions Llc It Contractors | 12/30/21 | $188,426 |
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 | $25,689,279 |
Investment income | $35,887 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$7,016 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $25,718,150 |
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. | $2,716,884 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $13,384,046 |
Pension plan accruals and contributions | $2,003,822 |
Other employee benefits | $1,376,259 |
Payroll taxes | $1,006,438 |
Fees for services: Management | $0 |
Fees for services: Legal | $34,837 |
Fees for services: Accounting | $29,625 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $11,538 |
Fees for services: Other | $1,466,234 |
Advertising and promotion | $0 |
Office expenses | $386,498 |
Information technology | $792,153 |
Royalties | $0 |
Occupancy | $805,464 |
Travel | $20,528 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $59,023 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $539,241 |
Insurance | $64,097 |
All other expenses | $0 |
Total functional expenses | $24,696,687 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,553,994 |
Savings and temporary cash investments | $4,141,071 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $446,007 |
Net Land, buildings, and equipment | $1,332,230 |
Investments—publicly traded securities | $7,143,476 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,624,323 |
Total assets | $16,241,101 |
Accounts payable and accrued expenses | $4,743,478 |
Grants payable | $0 |
Deferred revenue | $45,253 |
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 | $822,986 |
Total liabilities | $5,611,717 |
Net assets without donor restrictions | $10,629,384 |
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 | $16,241,101 |
Organization Name | Assets | Revenue |
---|---|---|
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Air-Conditioning Heating And Refrigeration Institute Arlington, VA | $58,066,234 | $32,390,159 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |
Go Rving Inc Reston, VA | $28,984,123 | $37,260,082 |
Serc Reliability Corporation Charlotte, NC | $16,241,101 | $25,718,150 |
National Milk Producers Federation Arlington, VA | $39,144,677 | $53,985,808 |
American Association Of Airport Executives Alexandria, VA | $31,151,300 | $20,490,750 |
National Electrical Manufacturers Association Rosslyn, VA | $26,880,642 | $22,525,604 |