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Nonprofiteer
← GRIFFISS UTILITY SERVICES CORPORATION

Form 990 for tax year 2024

Filed by GRIFFISS UTILITY SERVICES CORPORATION.

Totals

Total revenue
$10,882,956
Total expenses
$10,850,896
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,522,142
Investment income
$1,360,814
Other revenue
$0
Total assets, end of year
$58,721,570
Total liabilities, end of year
$1,380,470
Net assets or fund balances, end of year
$57,341,100
Program services expenses (Part IX)
$9,691,364
Management and general expenses
$1,159,532
Fundraising expenses
$0
Program service expenses (Part III)
$9,691,364

Program services were 89.3% 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.

  • 2a · Program service revenue: UTILITY REVENUE

    total $9,402,142 · related or exempt $9,402,142

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,463,235 · excluded $1,463,235

  • 7a · Gross sales of assets other than inventory

    securities $13,237,152

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

    securities $13,339,573

  • 7c · Gain or loss

    securities -$102,421

  • 7d · Net gain or loss

    total -$102,421 · excluded -$102,421

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $601,766 · program services $252,443 · management and general $349,323

  • 7 · Other salaries and wages

    total $534,372 · program services $226,555 · management and general $307,817

  • 8 · Pension plan contributions

    total $29,655 · program services $11,759 · management and general $17,896

  • 9 · Other employee benefits

    total $101,841 · program services $40,382 · management and general $61,459

  • 10 · Payroll taxes

    total $73,942 · program services $31,753 · management and general $42,189

  • 11b · Fees: legal

    total $43,860 · program services $29,240 · management and general $14,620

  • 11c · Fees: accounting

    total $33,225 · management and general $33,225

  • 11f · Fees: investment management

    total $43,246 · management and general $43,246

  • 11g · Fees: other

    total $41,984 · management and general $41,984

  • 13 · Office expenses

    total $60,658 · program services $27,706 · management and general $32,952

  • 14 · Information technology

    total $12,768 · program services $5,545 · management and general $7,223

  • 16 · Occupancy

    total $55,073 · program services $46,917 · management and general $8,156

  • 17 · Travel

    total $61,552 · program services $35,356 · management and general $26,196

  • 22 · Depreciation, depletion and amortization

    total $1,609,780 · program services $1,559,874 · management and general $49,906

  • 23 · Insurance

    total $154,844 · program services $116,404 · management and general $38,440

  • 24a · Other expenses: PURCHASED ELECTRICITY

    total $4,321,438 · program services $4,321,438

  • 24b · Other expenses: PURCHASED STEAM, NATURA

    total $2,631,488 · program services $2,631,488

  • 24c · Other expenses: ELECTRICAL SURCHARGES

    total $126,647 · program services $126,647

  • 24d · Other expenses: CONTRACTED SERVICES

    total $86,735 · program services $36,427 · management and general $50,308

  • 24e · All other expenses

    total $226,022 · program services $191,430 · management and general $34,592

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $110,079 · end of year $59,323

  • 2 · Savings and temporary cash investments

    beginning of year $8,580,632 · end of year $9,601,744

  • 4 · Accounts receivable

    beginning of year $881,794 · end of year $1,144,483

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,594,937 · end of year $885,156

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

    $53,598,801

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

    $39,288,819

  • 10c · Land, buildings and equipment, net

    beginning of year $15,348,887 · end of year $14,309,982

  • 11 · Investments: publicly traded securities

    beginning of year $22,051,722 · end of year $22,905,693

  • 15 · Other assets

    beginning of year $9,502,833 · end of year $9,815,189

  • 17 · Accounts payable and accrued expenses

    beginning of year $543,781 · end of year $765,314

  • 25 · Other liabilities

    beginning of year $658,058 · end of year $615,156

  • 27 · Net assets without donor restrictions

    beginning of year $56,869,045 · end of year $57,341,100

Mission and programs · 2024

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 $9,691,364 · Revenue $9,522,142

As filed on the 2024 return.

Listed in Part VII

  • Michael Sheridan

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Dave Youlen

    MEMBER

    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

  • Robert Kane

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Maneen

    PRESIDENT/CEO

    Total calculated
    $275,585
    From this org
    $239,067
    From related orgs
    $0
    Other
    $36,518
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $239,067
    Bonus
    $0
    Other
    $0
    Deferred
    $27,496
    Nontaxable benefits
    $9,022
    Filer's total
    $275,585

  • Aaron Falkenmeyer

    COO

    Total calculated
    $187,901
    From this org
    $147,175
    From related orgs
    $0
    Other
    $40,726
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $147,175
    Bonus
    $0
    Other
    $0
    Deferred
    $15,747
    Nontaxable benefits
    $24,979
    Filer's total
    $187,901

  • Taylor Sreca

    CFO

    Total calculated
    $138,280
    From this org
    $117,640
    From related orgs
    $0
    Other
    $20,640
    Hours/week
    37.5

  • Mike Davis

    VICE PRESIDENT OPERATIONS

    Total calculated
    $161,630
    From this org
    $146,294
    From related orgs
    $0
    Other
    $15,336
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $146,294
    Bonus
    $0
    Other
    $0
    Deferred
    $14,273
    Nontaxable benefits
    $1,063
    Filer's total
    $161,630

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 $17,582 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 $2,506,607 · share of assets $13,281,240 · controlled entity

    Directly controlled by GRIFFISS UTILITY SERVICES CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202533219349306713

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