GRIFFISS UTILITY SERVICES CORPORAT… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

JOSEPH L CUNNINGHAM

Phone

3158384872

Tax Period

2023-01-01 to 2023-12-31

GRIFFISS UTILITY SERVICES CORPORATION, founded in 2001, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $11.2M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $9.6M left a modest 14% surplus.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $8,412,799 Revenue: $10,122,806

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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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 $0

Program Service Revenue $10,118,389

Investment Income $1,082,747

Other Revenue $0

TOTAL REVENUE $11,201,136

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,316,466

Fundraising Expenses $0

Program Expenses $8,412,799

Other Expenses $8,271,089

TOTAL EXPENSES $9,587,555

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,201,136	$12,954,951	-0.1%
Expenses	$9,587,555	$11,925,013	-0.2%
Net Income	$1,613,581	$1,029,938	+0.6%

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

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

$632,969

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SHERIDAN	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
SANDRA CORNEY	TREASURER THROUGH 12/1	1.00	Officer Director	$0	$0	$0
WILLIAM STEVENS	MEMBER	1.00	Director	$0	$0	$0
TIMOTHY WOODS	MEMBER	1.00	Director	$0	$0	$0
JOHN MCNAMARA	MEMBER	1.00	Director	$0	$0	$0
ROBERT SKIBITSKI	MEMBER	1.00	Director	$0	$0	$0
JOE CUNNINGHAM	CHAIRMAN	1.00	Officer Director	$0	$0	$0
ROBERT KANE	TREASURER BEG 12/1	1.00	Director	$0	$0	$0
DANIEL MANEEN	PRESIDENT/CEO	37.50	Officer	$269,715	$42,742	$312,457
AARON FALKENMEYER	COO	37.50	Officer	$160,245	$38,514	$198,759
TAYLOR SRECA	CFO	37.50	Officer	$103,609	$18,144	$121,753
MIKE DAVIS	VICE PRESIDENT OPERATIONS	37.50	Highest	$140,532	$15,004	$155,536

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	$11,201,136	$9,587,555	$58,070,884	$1,613,581
2022	$12,954,951	$11,925,013	$56,113,253	$1,029,938
2021	$10,494,870	$10,522,513	$55,633,471	$-27,643
2020	$9,136,696	$9,264,547	$55,485,462	$-127,851
2019	$10,322,922	$9,250,662	$55,525,309	$1,072,260
2018	$11,395,435	$10,398,198	$54,391,666	$997,237
2018	$11,395,435	$10,398,198	$54,391,666	$997,237

GRIFFISS UTILITY SERVICES CORPORATION