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Nonprofiteer
← GRIFFISS INSTITUTE INC

Form 990 for tax year 2024

Filed by GRIFFISS INSTITUTE INC.

Totals

Total revenue
$27,891,903
Total expenses
$27,986,519
Contributions and grants received
$27,529,645
Grants paid
$1,220,250
Program service revenue
$319,228
Investment income
$12,530
Other revenue
$30,500
Total assets, end of year
$6,977,527
Total liabilities, end of year
$4,234,105
Net assets or fund balances, end of year
$2,743,422
Program services expenses (Part IX)
$25,305,397
Management and general expenses
$2,681,122
Fundraising expenses
$0
Program service expenses (Part III)
$25,305,397

Program services were 90.4% 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)

    $27,529,645

  • 2a · Program service revenue: SUPPORT SERVICES

    total $228,067 · related or exempt $228,067

  • 2b · Program service revenue: HOSTED MEETINGS

    total $23,933 · related or exempt $23,933

  • 2f · All other program service revenue

    total $67,228 · related or exempt $67,228

  • 3 · Investment income

    total $12,530 · excluded $12,530

  • 8a · Fundraising events: gross income

    $30,500

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $30,500 · excluded $30,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $620,750 · program services $620,750

  • 2 · Grants to domestic individuals

    total $548,500 · program services $548,500

  • 3 · Grants to foreign organizations and individuals

    total $51,000 · program services $51,000

  • 5 · Compensation of officers, directors and key employees

    total $630,265 · program services $554,948 · management and general $75,317

  • 7 · Other salaries and wages

    total $6,058,153 · program services $4,913,725 · management and general $1,144,428

  • 8 · Pension plan contributions

    total $369,713 · program services $300,835 · management and general $68,878

  • 9 · Other employee benefits

    total $1,338,411 · program services $1,088,998 · management and general $249,413

  • 10 · Payroll taxes

    total $554,466 · program services $451,147 · management and general $103,319

  • 11b · Fees: legal

    total $105,880 · management and general $105,880

  • 11c · Fees: accounting

    total $22,800 · management and general $22,800

  • 11d · Fees: lobbying

    total $53,481 · management and general $53,481

  • 11g · Fees: other

    total $11,537,714 · program services $11,066,273 · management and general $471,441

  • 13 · Office expenses

    total $86,681 · management and general $86,681

  • 14 · Information technology

    total $375,878 · program services $338,290 · management and general $37,588

  • 16 · Occupancy

    total $697,596 · program services $627,836 · management and general $69,760

  • 17 · Travel

    total $537,166 · program services $523,931 · management and general $13,235

  • 20 · Interest

    total $20,460 · management and general $20,460

  • 22 · Depreciation, depletion and amortization

    total $256,421 · program services $230,779 · management and general $25,642

  • 24a · Other expenses: CONTRACT & GRANT MATERI

    total $3,930,400 · program services $3,930,400

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $81,943 · management and general $81,943

  • 24c · Other expenses: OTHER EXPENSES

    total $45,334 · program services $18,504 · management and general $26,830

  • 24d · Other expenses: EVENTS CATERING

    total $39,449 · program services $39,449

  • 24e · All other expenses

    total $24,058 · program services $32 · management and general $24,026

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $252,801 · end of year $571,277

  • 2 · Savings and temporary cash investments

    beginning of year $364,874 · end of year $657,404

  • 3 · Pledges and grants receivable

    beginning of year $5,176,505 · end of year $4,257,475

  • 4 · Accounts receivable

    beginning of year $205,214 · end of year $154,445

  • 5 · Loans and receivables from officers and key people

    end of year $196

  • 9 · Prepaid expenses and deferred charges

    beginning of year $151,567 · end of year $220,626

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

    $2,122,494

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

    $1,420,865

  • 10c · Land, buildings and equipment, net

    beginning of year $927,680 · end of year $701,629

  • 12 · Investments: other securities

    end of year $17,000

  • 15 · Other assets

    beginning of year $907,832 · end of year $397,475

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,464,705 · end of year $2,795,992

  • 19 · Deferred revenue

    beginning of year $13,637 · end of year $13,252

  • 21 · Escrow or custodial account liability

    beginning of year $9,140 · end of year $8,681

  • 22 · Loans and payables to officers and key people

    end of year $40,012

  • 23 · Secured mortgages and notes payable

    beginning of year $368,250 · end of year $160,355

  • 25 · Other liabilities

    beginning of year $2,292,703 · end of year $1,215,813

  • 27 · Net assets without donor restrictions

    beginning of year $2,838,038 · end of year $2,723,422

  • 28 · Net assets with donor restrictions

    end of year $20,000

Mission and programs · 2024

Mission

THE GRIFFISS INSTITUTE AIMS TO DEVELOP THE NEXT GENERATION OF STEM TALENT AND DEFENSE TECHNOLOGIES THAT WILL STRENGTHEN U.S. NATIONAL SECURITY AND CREATE ECONOMIC OPPORTUNITY FOR OUR REGION, STATE AND NATION.

Activities or mission (Part I)

THE GRIFFISS INSTITUTE AIMS TO DEVELOP THE NEXT GENERATION OF STEM TALENT AND DEFENSE TECHNOLOGIES THAT WILL STRENGTHEN U.S. NATIONAL SECURITY AND CREATE ECONOMIC OPPORTUNITY FOR OUR REGION, STATE AND NATION. WE ELEVATE TALENT. WE EMPOWER INNOVATION. WE ENABLE EXPERIENCE.

  • THE PRIMARY ROLE OF THE GI IS TO ADVOCATE AND FACILITATE THE CO-OPERATION OF PRIVATE INDUSTRY, ACADEMIA, AND GOVERNMENT IN DEVELOPING THE NEXT GENERATION OF STEM TALENT AND DEFENSE TECHNOLOGIES THAT WILL STRENGTHEN U.S. NATIONAL SECURITY AND CREATE ECONOMIC OPPORTUNITY FOR OUR REGION, STATE AND NATION.

    Expenses $25,305,397 · Grants $1,220,250 · Revenue $319,228

As filed on the 2024 return.

Listed in Part VII

  • WILLIAM R GRAY

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • STEVEN DIMEO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATRICIA BASKINGER

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • PETER BAILDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES GREEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM VANSHUFFLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK GASTIN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • TIM BUTCHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAUREL MCADOO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR RICHARD JOSEPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEATHER HAGE

    CURRENT PRESIDENT & CEO

    Total calculated
    $325,170
    From this org
    $287,608
    From related orgs
    $0
    Other
    $37,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $0
    Other
    $37,608
    Deferred
    $25,000
    Nontaxable benefits
    $12,562
    Filer's total
    $325,170

  • SETH MULLIGAN

    CHIEF OPERATIONS OFFICER

    Total calculated
    $191,102
    From this org
    $174,063
    From related orgs
    $0
    Other
    $17,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,395
    Bonus
    $0
    Other
    $3,668
    Deferred
    $17,039
    Nontaxable benefits
    $0
    Filer's total
    $191,102

  • DEAN KORSAK

    GENERAL COUNSEL AND CORPORATE SECRETARY

    Total calculated
    $110,584
    From this org
    $100,763
    From related orgs
    $0
    Other
    $9,821
    Hours/week
    40

  • DAVID SEMADENI

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    20

  • TRACY DIMEO

    ASSISTANT SECRETARY AND EXECUTIVE OFFICE MANAGER

    Total calculated
    $78,049
    From this org
    $71,304
    From related orgs
    $0
    Other
    $6,745
    Hours/week
    40

  • MICHAEL FENG

    SENIOR DIRECTOR OF INNOVATION AND PARTNERSHIPS

    Total calculated
    $181,352
    From this org
    $168,593
    From related orgs
    $0
    Other
    $12,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,181
    Bonus
    $0
    Other
    $8,412
    Deferred
    $12,759
    Nontaxable benefits
    $0
    Filer's total
    $181,352

  • TODD HUMISTON

    CHIEF TALENT OFFICER

    Total calculated
    $179,333
    From this org
    $164,526
    From related orgs
    $0
    Other
    $14,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,813
    Bonus
    $0
    Other
    $9,713
    Deferred
    $14,807
    Nontaxable benefits
    $0
    Filer's total
    $179,333

  • BRIAN ABBE

    INNOVATION AND PARTNERSHIP SUBJECT MATTER

    Total calculated
    $188,691
    From this org
    $148,758
    From related orgs
    $0
    Other
    $39,933
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,892
    Bonus
    $0
    Other
    $5,866
    Deferred
    $13,712
    Nontaxable benefits
    $26,221
    Filer's total
    $188,691

  • BRIAN MARSHALL

    DIRECTOR OF IT

    Total calculated
    $139,721
    From this org
    $104,496
    From related orgs
    $0
    Other
    $35,225
    Hours/week
    40

  • MELISSA TALLMAN

    CHIEF BRAND OFFICER

    Total calculated
    $141,890
    From this org
    $128,606
    From related orgs
    $0
    Other
    $13,284
    Hours/week
    40

  • KATE KOGGE

    STEM EDUCATION SPECIALIST

    Total calculated
    $121,830
    From this org
    $111,387
    From related orgs
    $0
    Other
    $10,443
    Hours/week
    40

  • SVEA ANDERSON

    STEM EDUCATION SPECIALIST

    Total calculated
    $142,025
    From this org
    $120,607
    From related orgs
    $0
    Other
    $21,418
    Hours/week
    40

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

  • DRONE CITY LLC

    $280,000

    FY24 HUSTLE

  • ARTIFICIAL BRAIN TECH INC

    $107,500

    2024 HUSTLE

  • ARCHANGEL RESPONSE

    $105,000

    WOMEN INVESTING IN WOMEN GRANTS

  • MARHOLD SPACE SYSTEMS

    $32,500

    EMERGING PRE-SPEED, EARLY COMPANIES DEFENSE TECH COMMERCIALIZATION

  • TRIARII AI LLC SEAN SMITH

    $32,500

    EMERGING PRE-SPEED, EARLY COMPANIES DEFENSE TECH COMMERCIALIZATION

  • UTAH STEM FOUNDATION

    $15,000

    HIL STEM GRANT

  • UGIFT529

    $10,750

    FY24 RI STEM CHALLENGE COMPETITION

  • ARONETICS

    $7,500

    EMERGING PRE-SPEED, EARLY COMPANIES DEFENSE TECH COMMERCIALIZATION

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.

  • CYBER RESEARCH INSTITUTE INC

    501(C)(3) · PROVIDE SCIENTIFIC RESEARCH WITH AN EMPHASIS ON CYBER SECURITY · NY · controlled entity

    Directly controlled by GRIFFISS INSTITUTE INC

Provenance

Return type
form_990
Tax year
2024
Filed
3 July 2025
IRS schema version
2024v5.2
Source object
202521849349300807

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