2014-08-06T03:38:18-00:00 2013-09-30 990 2012-10-01 150589832 SRC Inc SRCI 3154528000 7502 Round Pond Road North Syracuse NY 13212 Philip Fazio 2014-08-01 false 2012 2015-11-30 17:44:51Z Phil Fazio 7502 Round Pond Road North Syracuse NY 13212 153231864 false X www.srcinc.com X 1957 NY SRC, Inc. is a Scientific Research Development organization that provides innovative solutions to the U.S. Government and other selected markets through advances in science and technology, public involvement and leadership, and academic partnerships. 9 5 1089 1230427 -120740 0 140248348 131845136 30481373 15156778 7923352 6229950 178653073 153231864 0 0 112517434 108237028 0 0 51402330 42470781 163919764 150707809 14733309 2524055 291940598 292750829 33725361 31787359 258215237 260963470 Help keep America safe and strong by protecting its people, environment, and way of life. We will do this by focusing on our customers needs and emerging threats, through the innovative application of science, technology, and information to solve problems of national significance. false false 119175245 131845136 Expenses arising in connection with Scientific Research and Development services provided mainly to the Federal Government in the areas of Defense, Environment, and Intelligence. 119175245 true false false true 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 130 0 true 1089 true true true false false false false false false false false false X 9 5 true false false false false false false true true false false true true true true true true true true false NY CA X Philip Fazio 3154528811 7502 Round Pond Road North Syracuse NY 13212 Robert U Roberts 001.00 X 68000 0 1265 M Cahterine Richardson 001.00 X 45000 0 0 Thomas Triscari 001.00 001.00 X 43000 11000 0 Patricia Civil 001.00 X 42000 0 0 Frank Saus 001.00 X 40000 0 0 Allen Naples 001.00 X 39546 0 0 Lawrence Sala 001.00 X 39000 0 0 Donald Kerrick 001.00 X 36000 0 0 F William Smullen III 001.00 X 33546 0 0 Paul G Tremont 040.00 X X 613731 0 77729 Philip Fazio 040.00 X 408019 5373 65247 James F Holland 040.00 X 381598 0 56946 Robert P Lane 040.00 X 373888 0 47408 Pauline C Fuller 040.00 X X 348515 0 54441 Anthony J Albanese 040.00 X 338098 0 34482 Joseph T Lauko 040.00 X 319929 0 38989 Thomas A Wilson 040.00 X 323178 0 33194 Kevin Hair 040.00 X 257409 0 25000 David L Sprague 040.00 X 218541 0 35810 Gary G Sauer 040.00 X X 294929 0 38989 John M Canakaris 040.00 X X 274519 0 31459 James R Periard 040.00 X 258032 0 34020 John F LoSecco 040.00 X 245699 0 25075 Aaron L Hendricks 040.00 X 244332 0 20779 5286509 16373 620833 347 true true false MI Technologies LLC 1125 Satellite Blvd Suite 100 Suwanee GA 30024 Systems Subcontractor 907097 Defense Point Security LLC 110 Compass Cove Stafford VA 22554 Security Consultants 760731 Productivity Leadership Systems LLC 8804 Madeleine Drive Baldwinsville NY 13027 Employee Development 434384 Ernst & Young LLP 100 Madison Street Suite 1900 Syracuse NY 13202 Accounting/Auditing Services 391770 Shirley Coloney DBA Computer Supply 220 Fairbourne Rochester NY 14626 Computer/Electronics Retailier 291812 14 Defense and Environmental Solutions 541700 61059856 60251323 808533 Intelligence Information Systems 541700 70785280 70756575 28705 131845136 15156778 15156778 5836761 5836761 Miscellaneous Income 812900 393189 393189 393189 153231864 131007898 1230427 20993539 0 0 0 0 3988329 3988329 0 72109413 58791234 13318179 8100509 6480407 1620102 17897749 15584118 2313631 6141028 4912822 1228206 0 360479 73204 287275 100969 100969 343981 343981 0 2100636 1501598 599038 299835 176649 123186 1023591 850057 173534 2020593 1692746 327847 0 3921325 3285078 636247 2775056 2540794 234262 0 599996 282059 317937 33092 33092 0 4729695 3957717 771978 754903 461641 293262 Materials Deferred Costs 3174593 3174593 Subcontractors 15505020 15505020 Repair Maintenance 1144442 958753 185689 Income / Property Taxes -1699866 -1711579 11713 5282441 658334 4624107 150707809 119175245 31532564 0 3600 3600 38658095 14007900 24619920 28471966 62291 129660 153468 841337 870789 78763433 36285420 42490430 42478013 163129661 181568582 17928484 18117552 4077120 7078959 291940598 292750829 5963578 5600372 875000 18930000 18065000 7956783 8121987 33725361 31787359 X 258215237 260963470 258215237 260963470 291940598 292750829 X 2524055 224178 X false true X true true true X 0 0.00000 73852521 70920353 81354634 85403748 81408341 392939597 44676854 51005982 59506143 54013438 49206368 258408785 118529375 121926335 140860777 139417186 130614709 651348382 651348382 25065628 34280795 72519506 38135211 20993539 190994679 1024346 145208 1169554 26089974 34426003 72519506 38135211 20993539 192164233 0 1150 567 117 1834 144620499 156352338 213380850 177552514 151608248 843514449 0.77220 0.77290 0.22780 0.22820 X Part III Line 12 Column a 2008 - Other revenue consists of Miscellaneous Income 1,150. Part III Line 12 Column c 2010 - Other revenue consists of Miscellaneous Income 567. Part III Line 12 Column d 2011 - Other revenue consists of Miscellaneous Income 117. false true false false false false true 343981 false false 343981 false false II-B 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 343,981. false 793857 793857 37718014 6722675 30995339 3842893 2138298 1704595 25758544 20675545 5082999 10650125 6748902 3901223 42478013 Financial derivatives and other financial products Closely-held equity interests Tax Deferred Section 457 Plan Assets 847744 F Investment in For-Profit Subsidiary 17267808 F Investment in For-Profit Subsidiary 2000 F 18117552 Federal income taxes Employee Benefits Withheld Accrued 772541 Tax Deferred Section 457 Plan Liability 745461 Billings in Excess of Costs 2652181 Vacation Accrual 3951804 SFAS 158 - Postretirement Benefit Obligation Income Taxes Payable 8121987 X 152721155 -510709 -510709 153231864 153231864 150197100 150197100 510709 510709 150707809 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, 2013 and 2012. XI 2d Other - Miscellaneous expense items reported as expense on Form 990 510,709. XII 4b Other - Miscellaneous expense items reported as expense on Form 990 510,709. East Asia and the Pacific 10 Program Services U.S. Government Contract Support 122597 Europe 21 Program Services Contract Support Conferences 227759 Middle East and North Africa 6 Program Services U.S. Government Contract Support 32951 North America 20 Program Services Contract Support Conferences 60964 South America 3 Program Services U.S. Government Contract Support 15557 South Asia 11 Program Services U.S. Government Contract Support 357155 71 71 816983 816983 false false false false false false I 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 activity 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 false true false true false true false false false Paul G Tremont 396814 214595 2322 59760 17969 691460 Philip Fazio 277100 5329 128597 2322 41020 24227 473266 5329 James F Holland 258094 121756 1748 38676 18270 438544 Robert P Lane 251889 118435 3564 37456 9952 421296 Anthony J Albanese 266622 69154 2322 25000 9482 372580 Joseph T Lauko 252350 66769 810 25000 13989 358918 Thomas A Wilson 253764 67092 2322 25000 8194 356372 Kevin Hair 202500 54270 639 25000 282409 David L Sprague 176601 40335 1605 22061 13749 254351 Gary G Sauer 223631 69206 2091 25000 13989 333917 John M Canakaris 241008 33327 183 17755 13704 305977 James R Periard 200570 56463 999 25000 9020 292052 John F LoSecco 202784 41062 1853 24446 629 270774 Aaron L Hendricks 219448 24710 175 16169 4610 265112 Pauline C Fuller 228674 118699 1142 33670 20771 402956 I 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. I 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. I 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. I 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 86,690 to the plan in calendar year 2012. I 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 compensation plans are a balance score card approach of which one of the metrics of the calculation is based on revenues. I 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 I 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 princopal plus interest at a variable rate determined on a weekly basis using SIFMA index plus 0.450.07 at 9/30/13 plus 0.05. Obligation is collateralized by a letter of credit. Allen J Naples Trustee 732592 See Part V false Lawrence Sala Trustee 11078 See Part V false Anthony J Albanese Key Employee 157782 See Part V false Philip Fazio Officer 32800 See Part V false Pauline C Fuller Former Officer 29608 See Part V false IV 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 732,592 for the current fiscal year. IV 2 Lawrence Sala, a member of the Board of Trustees, is the President CEO of Anaren, Inc. SRC, Inc. has entered into a number of contractual relationships with Anaren, Inc. during the current fiscal year. All transactions with Anaren, Inc. have occurred at arms length and are at fair market value. Mr. Sala recuses himself from any Board votes concerning Anaren, Inc.s related transactions. Total fees paid to Anaren, Inc. were 11,078 for the current fiscal year. IV 3 Three family members of Anthony J. Albanese, a key employee of SRC, Inc. serve as employees of the organization and received compensation during the year. Compensation paid to Anthonys son was 87,710 compensation paid to Anthonys son-in-law was 44,798 and compensation paid to Anthonys daughter was 25,274 in the current fiscal year. IV 4 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 32,800 in the current fiscal year. IV 5 A family member of Pauline Fuller, a Former Officer of SRC, Inc. serves as an employee of the organization and received compensation during the year. Compensation paid to Paulines daughter was 29,608 in the current fiscal year. Form 990 Part VI Section A Line 2 Business Relationships between Officers, Directors, Trustees and Key Employees Robert U Roberts, Chairperson of SRC, Inc.s Board of Trustees is a member of the Board of Directors of Anaren, Inc. Two other members of SRCs Board of Trustees, Patricia Civil and Lawrence Sala are members of Anaren, Inc.s Board of Directors. In addition, Lawrence Sala is the President CEO of Anaren, Inc. Form 990 Part VI Section A Line 2 Business Relationships between Officers, Directors, Trustees and Key Employees Robert U. Roberts, Chairperson of SRC, Inc.s Board of Trustees is a current compensated 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 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 recues 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. Human Resources is responsible for providing to the Personnel and Compensation Committee a reasonable compensation study which is conducted by an unrelated third party on an annual basis. A comparability study is also conducted to aid in determining the Key employees salaries. The Officers of SRC are responsible for reviewing and approving the compensation of the Key Employees of SRC, Inc. 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 Increase in Postretirement benefits adjustment 224,178. Syracuse Research LLC 7502 Round Pond Road North Syracuse NY 13212 300560841 Holding Company NY SRC Inc SRC Cyber LLC 7502 Round Pond Road North Syracuse NY 13212 463464086 Cybersecurity NY SRC Ventures Inc SRC Acumen 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 SRCTec Inc 5801 East Taft Road North Syracuse NY 13212 204641594 Manufacturing NY SRC Inc C Corp 1252376 95775253 1.00000 true SRC Ventures Inc 7502 Round Pond Road North Syracuse NY 13212 800946320 Holding Company NY SRC Inc C Corp -19694 2000 1.00000 true true true false false false true true false false false false true true true false true true false false SRCTec Inc a 5836761 Book Value SRC Ventures Inc b 2000 Book Value SRCTec Inc f 12000000 Book Value SRCTec Inc g Book Value SRCTec Inc l 18112809 Book Value SRC Ventures Inc l 18867 Book Value SRCTec Inc m 1841019 Book Value SRCTec Inc n Book Value SRCTec Inc p 3504 Book Value SRCTec Inc q 5429100 Book Value SRC Ventures Inc q 994 Book Value V 1g When business needs arise, the Companies may sell assets to each other. All sales are done at net-book-value. No inter-Company sales transactions were identified in the current year. V 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.