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Nonprofiteer
← GRIFFISS UTILITY SERVICES CORPORATION

Form 990 for tax year 2022

Filed by GRIFFISS UTILITY SERVICES CORPORATION.

Totals

Total revenue
$12,954,951
Total expenses
$11,925,013
Contributions and grants received
$10,101
Grants paid
$0
Program service revenue
$12,446,900
Investment income
$497,950
Other revenue
$0
Total assets, end of year
$56,113,253
Total liabilities, end of year
$1,324,217
Net assets or fund balances, end of year
$54,789,036
Program services expenses (Part IX)
$10,827,052
Management and general expenses
$1,097,961
Fundraising expenses
$0
Program service expenses (Part III)
$10,827,052

Program services were 90.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $10,101

  • 2a · Program service revenue: UTILITY REVENUE

    total $12,326,900 · related or exempt $12,326,900

  • 2f · All other program service revenue

    total $120,000 · related or exempt $120,000

  • 3 · Investment income

    total $499,683 · excluded $499,683

  • 7b · Less cost or other basis and sales expenses

    securities $1,733

  • 7c · Gain or loss

    securities -$1,733

  • 7d · Net gain or loss

    total -$1,733 · related or exempt -$1,733

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $591,345 · program services $263,537 · management and general $327,808

  • 7 · Other salaries and wages

    total $403,271 · program services $179,717 · management and general $223,554

  • 8 · Pension plan contributions

    total $33,436 · program services $14,901 · management and general $18,535

  • 9 · Other employee benefits

    total $161,107 · program services $46,484 · management and general $114,623

  • 10 · Payroll taxes

    total $62,162 · program services $27,701 · management and general $34,461

  • 11b · Fees: legal

    total $62,447 · program services $41,632 · management and general $20,815

  • 11c · Fees: accounting

    total $33,125 · management and general $33,125

  • 11f · Fees: investment management

    total $39,145 · management and general $39,145

  • 11g · Fees: other

    total $48,396 · management and general $48,396

  • 13 · Office expenses

    total $44,839 · program services $9,054 · management and general $35,785

  • 14 · Information technology

    total $4,503 · program services $1,236 · management and general $3,267

  • 16 · Occupancy

    total $54,314 · program services $20,176 · management and general $34,138

  • 17 · Travel

    total $52,017 · program services $31,429 · management and general $20,588

  • 22 · Depreciation, depletion and amortization

    total $1,608,802 · program services $1,557,536 · management and general $51,266

  • 23 · Insurance

    total $144,246 · program services $104,723 · management and general $39,523

  • 24a · Other expenses: PURCHASED ELECTRICITY

    total $5,655,629 · program services $5,655,629

  • 24b · Other expenses: PURCHASED STEAM, NATURA

    total $2,519,738 · program services $2,519,738

  • 24c · Other expenses: REPAIRS AND MAINTAINENC

    total $133,600 · program services $126,413 · management and general $7,187

  • 24d · Other expenses: ELECTRICAL SURCHARGES

    total $126,720 · program services $126,720

  • 24e · All other expenses

    total $146,171 · program services $100,426 · management and general $45,745

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $247,624 · end of year $32,513

  • 2 · Savings and temporary cash investments

    beginning of year $4,130,907 · end of year $6,238,000

  • 3 · Pledges and grants receivable

    beginning of year $172,339 · end of year $172,339

  • 4 · Accounts receivable

    beginning of year $1,442,701 · end of year $1,353,092

  • 9 · Prepaid expenses and deferred charges

    beginning of year $872,696 · end of year $1,517,574

  • 10a · Land, buildings and equipment: cost or other basis

    $52,575,846

  • 10b · Land, buildings and equipment: accumulated depreciation

    $36,112,768

  • 10c · Land, buildings and equipment, net

    beginning of year $17,961,475 · end of year $16,463,078

  • 11 · Investments: publicly traded securities

    beginning of year $21,578,826 · end of year $21,068,247

  • 15 · Other assets

    beginning of year $9,226,903 · end of year $9,268,410

  • 17 · Accounts payable and accrued expenses

    beginning of year $601,797 · end of year $726,980

  • 25 · Other liabilities

    beginning of year $560,114 · end of year $597,237

  • 27 · Net assets without donor restrictions

    beginning of year $54,471,560 · end of year $54,789,036

Mission and programs · 2022

Mission

GUSC WAS ORGANIZED TO ASSIST GRIFFISS LOCAL DEVELOPMENT CORPORATION (GLDC) IN THEIR MISSION TO REDEVELOP GRIFFISS BUSINESS AND TECHNOLOGY PARK.

  • GUSC IS ORGANIZED TO SUPPORT THE RESTRUCTURE, REFORM AND REALIGNMENT OF GRIFFISS BUSINESS & TECHNOLOGY PARK BY ACQUIRING, MAINTAINING AND SELLING UTILITIES TO PARK TENNANTS.

    Expenses $10,827,052 · Revenue $12,445,167

As filed on the 2022 return.

Listed in Part VII

  • Michael Sheridan

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Sandra Corney

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • William Stevens

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Timothy Woods

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John McNamara

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Skibitski

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Cunningham

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Daniel Maneen

    PRESIDENT/CEO

    Total calculated
    $296,620
    From this org
    $251,309
    From related orgs
    $0
    Other
    $45,311
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $251,309
    Bonus
    $0
    Other
    $0
    Deferred
    $26,020
    Nontaxable benefits
    $19,291
    Filer's total
    $296,620

  • Aaron Falkenmeyer

    COO

    Total calculated
    $189,273
    From this org
    $150,393
    From related orgs
    $0
    Other
    $38,880
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $150,393
    Bonus
    $0
    Other
    $0
    Deferred
    $7,121
    Nontaxable benefits
    $31,759
    Filer's total
    $189,273

  • Taylor Sreca

    CFO

    Total calculated
    $115,325
    From this org
    $95,223
    From related orgs
    $0
    Other
    $20,102
    Hours/week
    37.5

  • Mike Davis

    VICE PRESIDENT OPERATIONS

    Total calculated
    $153,067
    From this org
    $140,241
    From related orgs
    $0
    Other
    $12,826
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $140,241
    Bonus
    $0
    Other
    $0
    Deferred
    $1,927
    Nontaxable benefits
    $10,899
    Filer's total
    $153,067

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
DAN MANEEN $56,797 NONQUALIFIED, DEFERRED COMPENSATION PLAN

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GUSC ENERGY INC

    C · BIOMASS FUEL POWER · NY · 100% owned · share of income $2,449,494 · share of assets $14,319,489 · controlled entity

    Directly controlled by GRIFFISS UTILITY SERVICES CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
20 September 2023
IRS schema version
2022v5.0
Source object
202313049349302761

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