Griffiss Utility Services Corporation
- Assets
- $56.1m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Rome, NY
- Founding
- 03/2001
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Griffiss Utility Services Corporation generated $13.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $11.9m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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
2022
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 |
|---|---|---|---|
Michael Sheridan Vice Chairman | OfficerTrustee | 1 | $0 |
Sandra Corney Treasurer | OfficerTrustee | 1 | $0 |
William Stevens Member | Trustee | 1 | $0 |
Timothy Woods Member | OfficerTrustee | 1 | $0 |
John Mcnamara Member | Trustee | 1 | $0 |
Robert Skibitski Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Direct Energy Business Electricity & Gas Supplier | 12/30/22 | $4,015,894 |
National Grid Electricity Supplier | 12/30/22 | $482,052 |
New York Power Authority Electricity Supplier | 12/30/22 | $1,075,893 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,101 |
| 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 | $10,101 |
| Total Program Service Revenue | $12,446,900 |
| Investment income | $499,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,733 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,954,951 |
| 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. | $591,345 |
| Compensation of current officers, directors, key employees. | $327,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $403,271 |
| Pension plan accruals and contributions | $33,436 |
| Other employee benefits | $161,107 |
| Payroll taxes | $62,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,447 |
| Fees for services: Accounting | $33,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,145 |
| Fees for services: Other | $48,396 |
| Advertising and promotion | $0 |
| Office expenses | $44,839 |
| Information technology | $4,503 |
| Royalties | $0 |
| Occupancy | $54,314 |
| Travel | $52,017 |
| 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 | $1,608,802 |
| Insurance | $144,246 |
| All other expenses | $146,171 |
| Total functional expenses | $11,925,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,513 |
| Savings and temporary cash investments | $6,238,000 |
| Pledges and grants receivable | $172,339 |
| Accounts receivable, net | $1,353,092 |
| 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 | $1,517,574 |
| Net Land, buildings, and equipment | $16,463,078 |
| Investments—publicly traded securities | $21,068,247 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,268,410 |
| Total assets | $56,113,253 |
| Accounts payable and accrued expenses | $726,980 |
| 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 | $597,237 |
| Total liabilities | $1,324,217 |
| Net assets without donor restrictions | $54,789,036 |
| 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 | $56,113,253 |