Overview
What is Serc Reliability Corporation?
The Serc Reliability Corporation (SERC) is a North Carolina-based nonprofit organization dedicated to ensuring the reliability and security of the bulk power system. In accordance with the Federal Power Act and its delegation agreement with the North American Electric Reliability Corporation (NERC), SERC provides several key functions: analyzing events to identify lessons for improving reliability, promoting bulk power system (BPS) reliability, adequacy, and security, helping develop reliability standards for the BPS and the SERC region, monitoring and enforcing approved mandatory reliability standards, registering and certifying responsible entities under the reliability compliance program, assessing the BPS past, present, and future risk profile, and training operating personnel to ensure competence. The organization's Compliance Monitoring and Enforcement Program (CMEP) is its largest program area, consisting of five divisions: Compliance Monitoring, Compliance Programs and Services, Entity Assessment and Mitigation, Organization Registration and Certification, and Enforcement. These divisions work together to maintain the reliability of the power system by implementing various assessments, investigations, and enforcement actions. SERC's mission is to effectively and efficiently reduce risks to the reliability and security of the BPS through its statistical functions and partnership with NERC.
Official website here: www.serc1.org
What are the reviews and ratings of this charity?
SERC Reliability Corporation is not currently rated by Charity Navigator because it is not registered as a 501(c)(3) nonprofit, which is a prerequisite for evaluation. Consequently, there is no available data regarding their Accountability & Finance, Impact & Measurement, or any other evaluation metrics. The absence of a rating does not imply a lack of performance or integrity; it simply reflects an ineligibility for assessment based on current criteria.
As an entity, SERC Reliability Corporation operates independently. However, without public data on their revenue, expenses, or salaries of key personnel, stakeholders may find it challenging to make informed decisions based on financial transparency. This limitation is primarily due to their status outside of the typical nonprofit classification that Charity Navigator evaluates.
Without reviews from GreatNonprofits, there isn’t feedback available from users who have engaged with or benefited from SERC Reliability Corporation's services. This lack of anecdotal evidence means potential supporters or beneficiaries must seek information from alternate sources to gauge the organization’s reliability and effectiveness in its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Serc Reliability Corporation legitimate?
Serc Reliability Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Serc Reliability Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,963,296
Professional Fundraising Fees: $0
Other Salaries and Wages: $16,386,791
For more financial information, click here
Official website here: www.serc1.org
What is the mission statement of Serc Reliability Corporation?
The Serc Reliability Corporation (SERC) is dedicated to ensuring the reliability and security of the bulk power system. In accordance with the Federal Power Act and its delegation agreement with the North American Electric Reliability Corporation (NERC), SERC performs vital functions to improve the reliability, adequacy, and security of the power system. These functions encompass analyzing events to identify lessons learned, promoting reliability, assisting in the development of reliability standards, monitoring and enforcing approved standards, registering and certifying responsible entities, assessing risks, and training operating personnel to maintain competence.
Official website here: www.serc1.org
Who is the CEO of Serc Reliability Corporation?
Jason Blake is the CEO of Serc Reliability Corporation The CEO's salary of Serc Reliability Corporation is $0 and their total compensation is $0.
Official website here: www.serc1.org
What is the revenue of Serc Reliability Corporation?
Serc Reliability Corporation's revenue in 2023 was $33,179,989.
Official website here: www.serc1.org
Who are the executives of Serc Reliability Corporation and what are their salaries?
The average compensation at Serc Reliability Corporation during 2023 was $177,524. There are 109 employees and 788 volunteers at Serc Reliability Corporation.
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Official website here: www.serc1.org
Where can I find the form 990 for Serc Reliability Corporation?
Serc Reliability Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.serc1.org
Learn more at the official website: www.serc1.org
Mission Statement of Serc Reliability Corporation
Serc Reliability Corporation, or SERC, is a mission-driven organization dedicated to ensuring the effective and efficient reduction of risks to the reliability and security of the bulk power system. In line with its delegation agreement between SERC and the North American Electric Reliability Corporation (NERC), SERC performs statutory functions as outlined in Section 215 of the Federal Power Act.
To achieve its mission, SERC plays a crucial role in analyzing events to identify valuable lessons that can enhance reliability. By promoting reliability, adequacy, and security within the bulk power system and the SERC region, the organization strives to maintain a stable and uninterrupted power grid. Additionally, SERC contributes to the development of reliability standards for the North American Bulk Power System (BPS) and the SERC region.
SERC is responsible for monitoring and enforcing approved mandatory reliability standards to maintain a high level of compliance. To this end, the organization registers and certifies responsible entities under the Reliability Compliance Program, ensuring that they meet the necessary requirements. Furthermore, SERC assesses the past, present, and future risk profile of the BPS to ensure reliability, adequacy, and security.
To maintain a skilled workforce, SERC provides training to operating personnel to ensure competence. Through its various functions, SERC plays a vital role in safeguarding the reliable and secure operation of the bulk power system.
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Impact
October, 2024
SERC Reliability Corporation significantly enhances the reliability and security of the bulk power system, addressing risks through a comprehensive set of functions. It conducts thorough analyses of events to extract lessons that foster improved reliability and focuses on promoting the stability and security of the bulk power system (BPS). By developing and refining reliability standards within its region, SERC plays a crucial role in ensuring that all entities involved with the BPS adhere to high-performance benchmarks.
One of SERC's primary responsibilities is the Compliance Monitoring and Enforcement Program (CMEP), which is essential for maintaining adherence to mandatory reliability standards. This program includes conducting compliance audits, investigations, and assessments to ensure that all registered entities are operating within the established guidelines. Moreover, SERC's independent monitoring ensures objectivity in compliance evaluations.
By registering and certifying entities required to comply with reliability standards, SERC not only establishes a clear regulatory framework but also enhances the competence of operating personnel through targeted training programs. SERC's risk assessment processes allow for a thorough evaluation of the past, present, and future potential vulnerabilities in the bulk power system, enabling proactive measures to maintain reliability and adequacy.
The enforcement aspect of SERC's mission is particularly impactful, as it involves thorough investigations into violations of reliability standards and the imposition of penalties when necessary. This process reinforces accountability within the industry and ultimately contributes to an overall safer and more secure power system. Through these comprehensive efforts, SERC Reliability Corporation plays a pivotal role in safeguarding the integrity of the North American electric grid.
This information is meant to be a general summary of Serc Reliability Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $648,270
- Program Service Revenue: $32,531,176
- Gross Receipts: $55,106,512
Assets and Liabilities:
- Total Assets: $17,708,627
- Total Liabilities: $7,013,757
- Net Assets: $10,694,870
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER ASSESSMENT
Revenue
$26,192,877
PENALTY SANCTIONS
Revenue
$6,171,940
WORKSHOP REVENUE
Revenue
$160,134
CONTRACTS
Revenue
$6,225
Organization Details
Founding Year
2005
Principal Officer
Jason Blake
Website
www.serc1.orgNTEE Category
Code: S41 - Community improvement
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