2016-08-08T10:14:45-00:00 2015-09-30 990 2014-10-01 150589832 SRC Inc SRCI 3154528000 7502 Round Pond Road North Syracuse NY 13212 Philip Fazio Executive VP Finance CFO 2016-08-08 false 2014 2016-12-15 16:53:06Z Phil Fazio 7502 Round Pond Road North Syracuse NY 13212 141440575 false X www.srcinc.com X 1957 NY SRC, Inc. is a Scientific RD Company that provides innovative solutions to the US Government and other selected markets through advances in science, technology public involvement, leadership, and academic partnerships. 9 6 981 2876797 -281158 0 124610527 125223850 12670742 11127440 5466048 5089285 142747317 141440575 0 0 99425325 90530710 0 0 37923274 36066844 137348599 126597554 5398718 14843021 300162447 313319620 33962183 32681588 266200264 280638032 To provide innovative solutions to the most challenging critical needs to help keep America and its Allies safe and strong by protecting our people, the environment and our way of life. false false 101342114 125223850 Expenses arising in connection with Scientific Research and Development services provided mainly to the Federal Government in the areas of Defense, Environment, and Intelligence. 101342114 true false false true false false false false false false true false true false true true false true false true true false false false false false false false false true true false false false false false false false true true true false false false false true true true true false false true 123 0 true 981 true true true false false false false false false false false false X 9 6 true false false false false false false true true false false true true true true true true true true false CA NY X Philip Fazio 3154528811 7502 Round Pond Road North Syracuse NY 13212 Robert U Roberts Trustee 001.00 X X 32500 0 1265 M Catherine Richardson Chairperson 001.00 X 67000 0 0 Thomas Triscari Vice Chairperson 001.00 X 46000 11000 0 Patricia Civil Trustee 001.00 X X 45500 0 0 Frank Saus Trustee 001.00 X 40000 0 0 Allen Naples Trustee 001.00 X 40000 0 0 Lawrence Sala Trustee 001.00 X 39000 0 0 Donald Kerrick Trustee 001.00 X 40250 0 0 F William Smullen III Trustee 001.00 X 39000 0 0 Joseph Corasanti Trustee 001.00 X 0 0 0 Paul G Tremont President CEO 040.00 X X 604392 0 78456 Philip Fazio Executive VP, Finance Chief Financial Officer 040.00 X 400341 0 58255 James F Holland EVP Enterprise Svcs Solutions 040.00 X 371109 0 54449 Robert P Lane Executive Vice President, General Counsel 040.00 X 367978 0 45948 Joseph T Lauko Executive VP Intelligence Information Systems 040.00 X 355428 0 48409 Kevin Hair Chief Operating Officer 040.00 X 306700 0 30678 Matthew E Tryniski Vice President DES 040.00 X 239758 0 36906 David L Sprague AVP Contracts 040.00 X 229780 0 31538 Jose Negron Lead Sensitive Activity Integrator 040.00 X 288954 0 27145 Thomas A Wilson AVP Product Accounts 040.00 X 281207 0 33337 James R Periard AVP Business Development 040.00 X 260179 0 35915 Joseph Davies AVP Operational Finance 040.00 X X 253903 0 33932 John LoSecco AVP Business Development 040.00 X 244690 0 25076 4593669 11000 541309 290 true true false Bond Schoeneck & King One Lincoln Center Syracuse NY 13202 Legal Consultants 408981 Defense Point Security LLC 110 Compass Cove Stafford VA 22554 Security Consultants 327710 The Roosevelt Group LLC 500 N Capital Street NW Suite 320 Washington DC 20001 Advocacy, BD, And Consulting SServices 251471 Dr Alan Andrews 7000 East Genesee Street Fayetteville NY 13066 Counseling Service Provider 238867 Semper Fortis Solutions LLC 1602 Villiage Market Blvd SE Leesburg VA 20175 Cyber Security Counsulting 209251 11 Defense and Environmental Solutions 541700 62452479 60041584 2410895 Intelligence Information Systems 541700 62771371 62688324 83047 125223850 11127440 11127440 4703556 4703556 Miscellaneous Income 812900 385729 2874 382855 385729 141440575 122732782 2876797 15830996 0 0 0 0 3434978 3434978 0 56665477 45978746 10686731 7165475 5732380 1433095 17632183 15244426 2387757 5632597 4506078 1126519 0 289958 26555 263403 312462 312462 213732 213732 0 1803001 1345326 457675 222033 131009 91024 710875 600196 110679 1934821 1649696 285125 0 2978480 2539556 438924 2914997 2680522 234475 0 678999 502232 176767 15329 15329 0 4202990 3577833 625157 870603 616105 254498 Materials Deferred Costs 3423872 3423872 Subcontractors 11831706 11831706 Repair Maintenance 1059817 903637 156180 Income / Property Taxes 48660 42686 5974 2554509 9553 2544956 126597554 101342114 25255440 0 3100 3350 15938577 18730766 24898494 33762531 1439172 405350 660734 1008702 85495726 47478474 40181309 38017252 193509886 193765596 18197135 22484846 5334040 5141227 300162447 313319620 8108532 6964942 17165000 16217500 8688651 9499146 33962183 32681588 X 266200264 280638032 266200264 280638032 300162447 313319620 X 14843021 -405253 X false true X true true true X 0 0.00000 81354634 85403748 81408341 74966387 80432082 403565192 59506143 54013438 49206368 47978688 42214972 252919609 140860777 139417186 130614709 122945075 122647054 656484801 656484801 72519506 38135211 20993539 17776879 15830996 165256131 0 72519506 38135211 20993539 17776879 15830996 165256131 0 567 117 251 2874 3809 213380850 177552514 151608248 140722205 138480924 821744741 0.79890 0.78100 0.20110 0.21900 X Part III Section B Line 12 Columna 2010 - Other revenue consists of Miscellaneous Income 567. Part III Section B Line 12 Columnb 2011 - Other revenue consists of Miscellaneous Income 117. Part III Section B Line 12 Columnd 2013 - Other revenue consists of Miscellaneous Income 251. Part III Section B Line 12 Columne 2014 - Other revenue consists of Miscellaneous Income 2,874. false true false false false false true 213732 false false 213732 false false II-B 1-b,g Throughout the year, a few members of SRC, Inc.s staff may have direct contact with legislators, their staff, or other Government officials relating to our primary Department of Defense systems. SRC, Inc. also contracts with outside consultants that lobby on behalf of our primary programs. The total costs incurred in the current year were 213,732. false 793857 793857 39379964 9100565 30279399 3932547 3255692 676855 30500639 26427927 4072712 10888719 8694290 2194429 38017252 Financial derivatives and other financial products Closely-held equity interests Tax Deferred Section 457 Plan Assets 803319 F Investment in For-Profit Subsidiary 17267808 F Investment in For-Profit Subsidiary 4413719 F 22484846 Federal income taxes Employee Benefits Withheld Accrued 664756 Tax Deferred Section 457 Plan Liability 803319 Billings in Excess of Costs 2936012 Vacation Accrual 3889830 Income Taxes Payable 1205229 9499146 X 140703042 -737533 -737533 141440575 141440575 125860021 125860021 737533 737533 126597554 X 2 The provisions of ASC 740, Income Taxes, provide recognition criteria and a related measurement model for tax positions taken by the Company. In accordance with ASC 740, a tax position is a position in a previously filed tax return or a position expected to be taken in a future tax filing that is reflected in measuring current or deferred income tax assets and liabilities. Tax positions are recognized only when it is more likely than not likelihood of greater than 50, based on technical merits, that the position would be sustained upon examination. Tax positions that meet the more-likely-than-not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50 likely of being realized upon settlement. No liability for uncertain tax positions was recorded by the Company at September 30, 2015 and 2014. XI 2d Other - Miscellaneous expense items reported as expense on Form 990 737,533. XII 4b Other - Miscellaneous expense items reported as expense on Form 990 737,533. East Asia and the Pacific 24 Program Services U.S. Government Contract Support 306086 Europe Including Iceland and Greenland 24 Program Services Contract Support Conferences 373374 Middle East and North Africa 6 Program Services U.S. Government Contract Support 89461 North America 16 Program Services Contract Support Conferences 67543 South Asia 16 Program Services U.S. Government Contract Support 482988 Sub-Saharan Africa 1 Program Services U.S. Government Contract Support 7013 87 87 1326465 1326465 false false false false false false Part I Line 3 SRC, Inc. does not maintain any offices in any foreign country. The activities disclosed in Part I, Line 3 represent costs associated with various employee trips to the identified regions. The primary activities conducted on these trips is to provide contract support as required by the U.S. Government and other customers. Additional activities include project planning, business development and attending conferences. X X X true true X X X X X false true false true false true false false false Robert U Roberts Trustee 32500 1265 33765 Patricia Civil Trustee 45500 45500 Paul G Tremont President CEO 396480 205590 2322 60584 17872 682848 Philip Fazio Executive VP, Finance Chief Financial Officer 277064 120955 2322 40255 17999 458595 James F Holland EVP Enterprise Svcs Solutions 257964 111903 1242 37691 16759 425559 Robert P Lane Executive Vice President, General Counsel 251517 112897 3564 36902 9046 413926 Joseph T Lauko Executive VP Intelligence Information Systems 259317 94869 1242 35932 12477 403837 Kevin Hair Chief Operating Officer 228800 76769 1132 30678 337379 Matthew E Tryniski Vice President DES 200917 37839 1003 24429 12477 276665 David L Sprague AVP Contracts 183702 44406 1672 23099 8439 261318 Jose Negron Lead Sensitive Activity Integrator 251793 36965 197 14705 12439 316099 Thomas A Wilson AVP Product Accounts 223380 55747 2080 26000 7337 314544 James R Periard AVP Business Development 213218 44975 1987 26224 9692 296096 Joseph Davies AVP Operational Finance 205084 46930 1889 25493 8439 287835 John LoSecco AVP Business Development 202202 39645 2843 24400 676 269766 Part I Line 1a The Company may Charter a plane for a trip that requires a group of employees to travel to a specific location. An officer, key employee or one of the five highest paid employees could be part of that group. A Charter will only be booked if it results in lower cost than commercial flights at standard coach fares for all in the group. Officers, key employees and the five highest paid employees may fly first class if and only if a free upgrade is used, no coach or business class accommodations are reasonably available, there is a documented medical need, or the person is traveling on an excessively long foreign trip. Part I Line 1a The company may provide travel for companions for required Company related functions. The cost of such travel is included in the officer, key employee, or five highest paid employees compensation. Part I Line 1a The Company provides certain taxable fringe benefits that are grossed-up for payroll reporting. The full value of these benefits has been included in the officer, key employee, or five highest paid employees compensation. Part I Line 4b The Company provides a Section 457f non-qualified deferred compensation plan for the Officers. The plan is funded entirely by the Company and contributions are held in investment funds with a local investment bank. The Company has ownership of the plan assets until the participant has a distributable event. The Company made contributions of 86,016 to the plan in calendar year 2014. Part I Line 5a The Company provides various incentive compensation plans of which all of the officers, key employees and some of the five highest paid compensated employees participate in. The incentive compentsation plans are a balance score card approach of which one of the metrics of the calclation is based on revenues. Part I Line 6a The Company provides various incentive compensation plans of which all of the officers, key employees and some of the five highest paid compensated employees participate in. The incentive compensation plans are a balance score card approach of which one of the metrics of the calculation is based on net earnings. A Onondaga County Industrial Development Agency 161093714 682747GM6 2005-12-14 17835000 Acquire property, construct and equip new facility false false false A 17835000 610220 17224780 false false true true A false true false false 0.01040 0.01040 true false A false false true false true false false false false A false Part I Line A 2005 Series Onondaga County Industrial Development Agency Bonds. Bonds are payable in quarterly installments commencing 12/1/07 through 12/1/31. Payments of principal plus interest at a variable rate determined on a weekly basis using SIFMA index 0.02 at 9/30/15 plus 0.05. Obligation is collateralized by a letter of credit in the amount of 13,626,000. Allen J Naples Trustee 950773 See Part V false Philip Fazio Officer 76903 See Part V false Matthew E Tryniski Key Employee 89150 See Part V false Part IV Line 1 Allen Naples, a member of the Board of Trustees, is the Regional President of MT Bank. SRC, Inc. uses MT Bank for their commercial banking needs. All transactions with MT Bank have occurred at arms length and are at fair market value. Mr. Naples recuses himself from any Board votes concerning MT Bank related transactions. Total fees paid to MT Bank were 950,773 for the current fiscal year. Part IV Line 2 A family member of Philip Fazio, an Officer of SRC, Inc. serves as an employee of the organization and received compensation during the year. Compensation paid to Philips son was 76,903 in the current fiscal year. Part IV Line 3 A family member of Matthew E. Tryniski, a Key Employee of SRC, Inc. serves as an employee of the organization and received compensation during the year. Compensation paid to Matthews wife was 89,150 in the current fiscal year. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees and Key Employees M. Catherine Richardson, Chairperson of SRC, Inc.s Board of Trustees is a current member of the Regional Advisory Board at MT Bank. One member of SRC s Board of Trustees, Allen J. Naples is the Regional President of MT Bank. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees and Key Employees Allen Naples, Trustee of SRC, Inc.s Board of Trustees and Paul Tremont, President CEO of SRC, Inc. are current member of the Metropolitian Development Association of Syracuse and Centeral New York, Inc. Centerstate Corporation for Economic Opportunity Centerstate CEO Foundation, Inc. and Centerstate Development Foundation. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees and Key Employees Thomas Triscari, Vice Chairperson of SRC, Inc.s Board of Trustees and Paul Tremont, President CEO of SRC, Inc. are current members of the SRC Ventures, Inc. Board of Directors. Form 990, Part VI, Section B, Line 11b Process used to review Form 990 The Form 990 of SRC, Inc. is prepared by the Finance staff and provided to senior management for review prior to filing. The Form 990 is also reviewed by the Audit Committee of SRC, Inc.s Board of Trustees and a copy is provided to all members of SRC, Inc.s Board of Trustees prior to filing. All questions and comments by senior management and the Board of Trustees were addressed prior to filing. In addition a training session on the Redesigned Form 990 was conducted by PricewaterhouseCoopers, LLP for the benefit of senior management and the Audit Committee of the Board of Trustees. Form 990, Part VI, Section B, Line 12c Written Conflict of Interest Policy Conflict of Interest disclosure statements are completed annually by all members of the Board of Trustees, Officers, and Key employees of SRC, Inc. Once the disclosure statements have been collected, the statements are reviewed by members of the legal office. All reported potential conflicts of interest are evaluated and discussed among the parties. Board of Trustee members, Officers, and Key employees are required to disclose a conflict of interest and recuses themselves from voting on or otherwise discharging their duties with respect to any matter involving the conflict which comes before the Board or prior to entering into any contract or transaction involving the conflict. Form 990, Part VI, Section B, Line 15b Process for Determining Compensation The Compensation for all Officers of SRC, Inc. is recommended by the Personnel and Compensation Committee of the Board and approved by the Board of Trustees. The Personnel and Compensation Committee members are all outside Board of Trustee members. Annually Human Resources is responsible for providing to the Personnel and Compensation Committee and the Board of Trustees a compensation study which is conducted by an independent third party. The compensation study that is obtained from the independent compensation consultant provides a reasonableness opinion, advice on the current officers compensation and a comparability study used to aid in determining the Key employees salaries. Form 990, Part VI, Section B, Line 16b Joint Venture Policy SRC, Inc. has adopted a written policy requiring the organization to evaluate all potential participation in joint venture arrangements under applicable federal tax law and has procedures in place to safeguard the organizations exempt status with respect to potential arrangements. SRC, Inc. did not invest in, contribute assets to or participate in a joint venture or similar arrangement with any entity during the current year. Form 990, Part VI, Section C, Line 19 Public Inspection of Form 990 and Governing Documents SRC, Inc. makes its Form 1023 and Form 990 available for public inspection upon request. SRC, Inc.s governing documents, conflict of interest policy and audited financial statements are not routinely made available to the general public. Form 990, Part XI, Line 9 Reconciliation of Net Assets - Other Changes in net assets or fund balances Decrease in Postretirement benefits adjustment 405,253. Syracuse Research LLC 7502 Round Pond Road North Syracuse NY 13212 300560841 Holding Company NY SRC Inc Acumen Detection LLC 7502 Round Pond Road North Syracuse NY 13212 463442483 Assay RD NY SRC Ventures Inc SRC Shadowstripe Technologies LLC 7502 Round Pond Road North Syracuse NY 13212 463453426 RD NY SRC Ventures Inc Gryphon Sensors LLC 7502 Round Pond Road North Syracuse NY 13212 471485488 RD NY SRC Ventures Inc SRCTec LLC 5801 East Taft Road North Syracuse NY 13212 472818916 Manufacturing NY SRC Ventures Inc FourV Systems LLC 7502 Round Pond Road North Syracuse NY 13212 463464086 Cybersecurity NY SRC Ventures Inc -1592634 5026526 false false 0.92000 SRCTec Inc (Final return) 5801 East Taft Road North Syracuse NY 13212 204641594 Manufacturing NY SRC Inc C Corp 103871 1.00000 true SRC Ventures Inc 7502 Round Pond Road North Syracuse NY 13212 800946320 Holding Company NY SRC Inc C Corp -6356667 113250496 1.00000 true true true false false false true true true false true false true true true false true true false false SRCTec a 4703556 Book Value SRC Ventures Inc b 4411719 Book Value SRCTec f 10000000 Book Value SRCTec g Book Value SRCTec h Book Value Gryphon Sensors LLC j 34224 Book Value SRCTec l 14764088 Book Value Acumen Detection LLC l 14316 Book Value Gryphon Sensors LLC l 424507 Book Value SRCTec m 1756777 Book Value FourV Systems LLC m 31600 Book Value Acumen Detection LLC m 1991 Book Value All Listed Affiliates n Book Value SRCTec p 3701242 Book Value SRC Ventures Inc p 279392 Book Value FourV Systems LLC p 169965 Book Value Acumen Detection LLC p 260840 Book Value Gryphon Sensors LLC p 316781 Book Value SRCTec q 155647 Book Value FourV Systems LLC q 6390 Book Value Part V Line 1b In the current year SRC, Inc. transferred cash to SRC, Ventures, Inc. in support of funding the start up operations of the Company and affiliates. Part V Line 1g When business needs arise, the Companies may sell assets to each other. All sales are done at net-book-value. There were no sales transactions identified from SRC to Affiliates in the current year. Part V Line 1h When business needs arise, the Companies may sell assets to each other. All sales are done at net-book-value. There were no sales transactions identified from the Affiliates to SRC in the current year. Part V Line 1n SRCTec, Inc. provides office space for one of the support services groups that are all employees of SRC, Inc. There is no charge between Companies for the use of this office space.