ReliabilityFirst Corporation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

Timothy R Gallagher

Phone

2165030600

Tax Period

2023-01-01 to 2023-12-31

ReliabilityFirst Corporation, founded in 2005, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $27.8M in total revenue in fiscal year 2023.

Mission

To serve the public good and support health and safety through preserving and enhancing the reliability, security and resilience of the grid.

Program Service Accomplishments

Program 1

Expenses: $12,333,681 Revenue: $0

Reliability Assurance and Compliance Monitoring - The Reliability Assurance and Compliance Monitoring Program identified risks impacting entities, evaluated the effectiveness of entities' internal...

Reliability Assurance and Compliance Monitoring - The Reliability Assurance and Compliance Monitoring Program identified risks impacting entities, evaluated the effectiveness of entities' internal controls around specific Reliability Standards and Requirements, evaluated entities' capabilities in key management practice areas, tailored training centered on the needs of entities, and monitored compliance to the NERC Reliability Standards.

Program 2

Expenses: $2,421,243 Revenue: $0

Enforcement - The Enforcement Program enforced compliance with Reliability Standards. Staff ensured that the selected disposition method for any noncompliance was consistent with the risk posed by...

Enforcement - The Enforcement Program enforced compliance with Reliability Standards. Staff ensured that the selected disposition method for any noncompliance was consistent with the risk posed by the noncompliance, was adequately supported by the record, and promoted desired entity behaviors to enhance reliability.

Program 3

Expenses: $2,048,017 Revenue: $0

Assessment - The Assessment Program analyzed, assessed, and reported on the reliability and adequacy of the Bulk Electric System within the ReliabilityFirst footprint. Staff helped identify and...

Assessment - The Assessment Program analyzed, assessed, and reported on the reliability and adequacy of the Bulk Electric System within the ReliabilityFirst footprint. Staff helped identify and assess risks across the footprint and its deliverables were a major contributor to the risk based efforts of the entire organization. This work included the performance of resource and transmission assessment studies; special analyses and investigations as warranted; and the collection and dissemination of data, lessons learned, and other information.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $27,606,336

Program Service Revenue $0

Investment Income $198,319

Other Revenue $1,255

TOTAL REVENUE $27,805,910

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,148,455

Fundraising Expenses $0

Program Expenses $18,905,905

Other Expenses $3,803,553

TOTAL EXPENSES $27,952,008

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,805,910	$26,100,151	+0.1%
Expenses	$27,952,008	$26,272,255	+0.1%
Net Income	$-146,098	$-172,104	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

125

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,352,439

Total Directors

$412,756

Key Employees

$1,821,192

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Patrick A Cass	Director	4.00	Director	$118,189	$0	$118,189
Courtney Geduldig	Director until 12/31/23	4.00	Director	$106,939	$0	$106,939
Joanna Burkey	Director	5.00	Director	$106,939	$0	$106,939
Antonio Smythe	Director - Chair	2.00	Director	$0	$0	$0
Nelson Peeler	Director - Vice Chair	2.00	Director	$0	$0	$0
Simon Whitelocke	Director	1.00	Director	$0	$0	$0
Steve Ambrose	Director	2.00	Director	$0	$0	$0
Scott Etnoyer	Director until 11/29/23	1.50	Director	$0	$0	$0
Lesley Evancho	Director	4.00	Director	$80,689	$0	$80,689
Scott Hipkins	Director	1.25	Director	$0	$0	$0
Jason Marshall	Director until 12/7/23	2.00	Director	$0	$0	$0
Ken Seiler	Director	2.00	Director	$0	$0	$0
Rachel Snead	Director	2.00	Director	$0	$0	$0
Jennifer Sterling	Director	2.00	Director	$0	$0	$0
Joe Trentacosta	Director	2.00	Director	$0	$0	$0
Timothy R Gallagher	President & CEO	40.00	Officer	$881,273	$96,771	$978,044
Jeffrey L Craigo	VP Reliability & Risk	40.00	Officer	$402,012	$92,928	$494,940
Niki Schaefer	Vice President & General Counsel	40.00	Officer	$383,256	$92,549	$475,805
Marcus Noel	VP Chief Security Officer	40.00	Officer	$312,179	$65,853	$378,032
Beth Dowdell	Treasurer & Sr Director, Corp Srvcs	40.00	Officer	$305,412	$77,575	$382,987
Carol Baskey	Treasurer until 10/16/23	40.00	Officer	$181,630	$25,819	$207,449
Diane Holder	VP Entity Engagement & Corp Srvcs	40.00	Officer	$360,407	$74,775	$435,182
James A Uhrin	Dir Engineering & Reliability	40.00	Key Emp	$310,018	$69,426	$379,444
Matthew Thomas	Director, Compliance Monitoring	40.00	Key Emp	$283,204	$74,822	$358,026
Brian Thiry	Director, Entity Engagement	40.00	Key Emp	$284,952	$74,060	$359,012
Erik Johnson Director	Reliability Analysis until 5/17/24	40.00	Key Emp	$285,648	$65,879	$351,527
Kristen Senk	Director, Legal & Enforcement	40.00	Key Emp	$307,743	$65,440	$373,183
Antun Purgar Jr	Sr Manager Ops Analysis & Awareness	40.00	Highest	$256,275	$68,873	$325,148
Anthony Jablonski	Sr Manager Risk Analysis	40.00	Highest	$253,434	$72,665	$326,099
Megan Gambrel Managing	Counsel, Corporate Compliance	40.00	Highest	$236,487	$70,903	$307,390
Thomas Scanlon Sr Managing	Counsel, Legal & Enforcement	40.00	Highest	$223,592	$64,789	$288,381
Lewis Folkerth	Principal Reliability Consultant	40.00	Highest	$227,801	$62,976	$290,777
Brenton C Greene	Former Director	0.00		$30,000	$0	$30,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$27,805,910	$27,952,008	$23,703,418	$-146,098
2022	$26,100,151	$26,272,255	$23,843,831	$-172,104
2021	$26,261,939	$24,068,480	$20,240,609	$2,193,459
2020	$24,824,532	$23,182,167	$18,113,530	$1,642,365
2019	$25,706,919	$22,636,592	$16,266,969	$3,070,327
2018	$20,498,067	$21,072,505	$12,915,922	$-574,438