SERC RELIABILITY CORPORATION (EIN 203311003) - Form 990 Financial Analysis & Trantor Score

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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

JASON BLAKE

Phone

7043577372

Tax Period

2024-01-01 to 2024-12-31

SERC RELIABILITY CORPORATION, founded in 2005, is a mid-sized nonprofit in the Environment sector that reported $31.5M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

THE MISSION OF THE SERC RELIABILITY CORPORATION (SERC) IS TO ASSURE EFFECTIVE AND EFFICIENT REDUCTION OF RISKS TO THE RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM. SERC PROVIDES STATUTORY FUNCTIONS CALLED FOR IN SECTION 215 OF THE FEDERAL POWER ACT, IN ACCORDANCE WITH ITS DELEGATION AGREEMENT BETWEEN SERC AND THE NORTH AMERICAN ELECTRIC RELIABILITY CORPORATION (NERC). SERC PROVIDES THE FOLLOWING FUNCTIONS: ANALYZE EVENTS TO IDENTIFY LESSONS LEARNED THAT WILL IMPROVE RELIABILITY; PROMOTE BPS RELIABILITY, ADEQUACY AND SECURITY; HELP DEVELOP RELIABILITY STANDARDS FOR THE NORTH AMERICAN BULK POWER SYSTEM (BPS) AND THE SERC REGION; MONITOR AND ENFORCE APPROVED MANDATORY RELIABILITY STANDARDS; REGISTER AND CERTIFY RESPONSIBLE ENTITIES UNDER THE RELIABILITY COMPLIANCE PROGRAM; ASSESS THE BPS PAST, PRESENT, AND FUTURE RISK PROFILE IN ORDER TO ASSURE RELIABILITY, ADEQUACY, AND SECURITY; AND TRAIN OPERATING PERSONNEL TO ASSURE COMPETENCE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $30,681,582

Investment Income $834,889

Other Revenue $0

TOTAL REVENUE $31,516,471

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,729,818

Fundraising Expenses $0

Other Expenses $5,436,580

TOTAL EXPENSES $32,166,398

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,516,471	$33,179,989	-0.1%
Expenses	$32,166,398	$28,937,902	+0.1%
Net Income	$-649,927	$4,242,087	-1.2%

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

121

Volunteers

814

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

$3,043,850

Total Directors

$424,871

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LONNI DIECK	LEAD INDEPENDENT DIRECTOR	4.00	Officer Director	$150,213	$0	$150,213
DEBORAH WHEELER	INDEPENDENT DIRECTOR	3.00	Director	$135,750	$0	$135,750
SHIRLEY BLOOMFIELD	INDEPENDENT DIRECTOR	3.00	Director	$138,908	$0	$138,908
PANDELIS XANTHAKOS	CHAIR	3.00	Officer Director	$0	$0	$0
LISA JOHNSON	VICE-CHAIR	3.00	Officer Director	$0	$0	$0
VICKY BUDREAU	DIRECTOR	2.00	Director	$0	$0	$0
BOB DALRYMPLE	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER PETERS	DIRECTOR	2.00	Director	$0	$0	$0
DOUG LEGO	DIRECTOR	2.00	Director	$0	$0	$0
ERIC LAVERTY	DIRECTOR	2.00	Director	$0	$0	$0
GREG FORD	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN WALZ	DIRECTOR	2.00	Director	$0	$0	$0
RICKY ERIXTON	DIRECTOR	2.00	Director	$0	$0	$0
BETH MCFARLAND	DIRECTOR	2.00	Director	$0	$0	$0
PAUL MCGLYNN	DIRECTOR	2.00	Director	$0	$0	$0
TIM LYONS	DIRECTOR	2.00	Director	$0	$0	$0
VENONA GREAFF	DIRECTOR	2.00	Director	$0	$0	$0
DENVER YORK	DIRECTOR	2.00	Director	$0	$0	$0
JASON BLAKE	PRESIDENT/CEO	40.00	Officer	$753,107	$82,646	$835,753
TIMOTHY PONSETI	VP - OPERATIONS	40.00	Officer	$488,270	$74,571	$562,841
HOLLY HAWKINS	VP - GEN. COUNSEL & CORP. SECRETARY	40.00	Officer	$561,592	$49,612	$611,204
GEORGE KROGSTIE	CFO & CORPORATE TREASURER	40.00	Officer	$391,289	$82,721	$474,010
BRIAN THUMM	VP - PERF IMPROVEMENT & RISK MGMT	40.00	Officer	$340,190	$69,639	$409,829
MELINDA MONTGOMERY	SR. DIR.-ENGINEERING & ADV ANALYTICS	40.00	Highest	$318,773	$58,367	$377,140
STEPHEN BROWN	DIRECTOR - CYBER & PHYSICAL SECURITY	40.00	Highest	$304,706	$66,753	$371,459
WILLIAM PETERSON	DIRECTOR - ENTITY DEVELOP. & COMM.	40.00	Highest	$258,002	$71,650	$329,652
EDWARD FRANKS	DIRECTOR - RELIABILITY ASSURANCE	40.00	Highest	$256,276	$64,802	$321,078
JON TAUBER	DIRECTOR - ENFORCEMENT	40.00	Highest	$273,902	$67,831	$341,733

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	$31,516,471	$32,166,398	$32,981,748	$-649,927
2023	$33,179,989	$28,937,902	$21,744,979	$4,242,087
2023	$33,179,989	$28,937,902	$21,744,979	$4,242,087
2023	$33,179,989	$28,937,902	$21,744,979	$4,242,087
2022	$26,641,199	$26,530,480	$17,708,627	$110,719
2021	$25,718,150	$24,696,687	$16,241,101	$1,021,463
2020	$23,369,403	$23,335,923	$14,770,754	$33,480
2019	$26,098,021	$21,224,074	$14,467,278	$4,873,947
2018	$18,890,758	$17,289,540	$8,654,532	$1,601,218

SERC RELIABILITY CORPORATION