2017-08-08T09:42:02-00:00 2016-09-30 990 2015-10-01 150589832 SRC Inc SRCI 3154528000 7502 Round Pond Road North Syracuse NY 13212 Philip Fazio Executive VP Finance CFO 2017-08-07 false 2015 2021-01-29 14:40:06Z Philip Fazio 7502 Round Pond Road North Syracuse NY 13212 156912111 false X www.srcinc.com X 1957 NY SRC Inc. is a Scientific RD Company that provides innovative solutions to the U.S. Government and other selected markets through advances in science, technology, public involvement, leadership, and academic partnerships 10 6 954 1336654 0 125223850 139448735 11127440 12647269 5089285 4816107 141440575 156912111 0 0 90530710 98837747 0 0 36066844 40732736 126597554 139570483 14843021 17341628 313319620 333883976 32681588 35989116 280638032 297894860 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 112262987 139448735 Expenses arising in connection with Scientific Research and Development services provided mainly to the Federal Government in area of Defense, Environment, and Intelligence. 112262987 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 137 0 true 954 true true true false false false false false false false false false X 10 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 M Catherine Richardson Former Chairperson 001.00 X X 74500 0 0 Patricia Civil Trustee 001.00 001.00 X X 34750 20000 0 Thomas Triscari Vice Chairperson 001.00 001.00 X 44500 5350 0 Frank Saus Trustee 001.00 X 46000 0 0 Donald Kerrick Chairperson 001.00 X 43500 0 0 Lawrence Sala Trustee 001.00 X 43000 0 0 F William Smullen III Trustee 001.00 X X 40250 0 0 Allen Naples Trustee 001.00 X 39500 0 0 Joseph Corasanti Trustee 001.00 X 26667 0 0 Kimberly A Boynton Trustee 001.00 X 0 0 0 Paul G Tremont President CEO 040.00 X X 659607 0 89059 Robert P Lane Executive Vice President, General Counsel 040.00 X 469927 0 45633 Philip Fazio Executive VP, Finance, Chief Financial Officer 040.00 X 427711 0 61755 James F Holland EVP Enterprise Svcs Solutions 040.00 X 397600 0 57517 Joseph T Lauko Executive VP Intelligence Information Systems 040.00 X 377726 0 53778 Kevin Hair Chief Operating Officer 040.00 X 332564 0 33139 Matthew E Tryniski AVP, CUAS ISR 040.00 X 280078 0 39717 Andrea V Masten VP Business Development 040.00 X 247110 0 37527 David L Sprague AVP Contracts 040.00 X 236688 0 32668 James L Daniels VP International Business 040.00 X 0 0 0 David C Lyons VP Technical Services 040.00 X 0 0 0 William O Jacobs Lead Sensitive Activity Integrator 040.00 X 368180 0 34104 Jose Negron Lead Sensitive Activity Integrator 040.00 X 295164 0 31407 Thomas A Wilson AVP Business Development 040.00 X 293039 0 32571 James R Periard AVP Business Development 040.00 X 272270 0 35182 Joseph Davies AVP Operational Finance 040.00 X X 264909 0 35459 5315240 25350 619516 290 true true false Shirley Coloney DBA Computer Supply 220 Fairbourne Rochester NY 14626 Computer/Electronic Retailer 787982 Bond Schoeneck & King One Lincoln Center Syracuse NY 132021355 Legal Consultants 388421 Ernst & Young LLP 100 Madison Street Suite 1900 Syracuse NY 13202 Accounting Services 329069 Dr Alan Andrews 7000 East Genesee Street Fayetteville NY 13066 Consulting Service Provider 248016 Semper Fortis Solutions LLC 1602 Villiage Market Blvd Suite 210 Leesburg VA 20175 Cyber Security Consulting 220568 11 Defense and Environmental Solutions 541700 69023611 68191694 831917 Intelligence Information Systems 541700 70425124 70266958 158166 139448735 12647269 12647269 4469479 4469479 Miscellaneous Income 812900 346628 57 346571 346628 156912111 155575457 1336654 0 0 0 0 0 4156608 4156608 62121400 50254666 11866734 7774629 6219703 1554926 18872779 16925857 1946922 5912331 4729865 1182466 0 116189 13691 102498 468634 468634 195560 195560 0 1503411 879095 624316 681105 185366 495739 1170858 1005886 164972 2078156 1795105 283051 0 3125046 2699405 425641 3350866 3034984 315882 0 849461 456300 393161 46837 46837 0 3841360 3308502 532858 378461 263473 114988 Materials, Deferred Costs and Freight 8739035 8739035 Subcontractors 8892655 8892655 Repairs Maintenance 1121493 968742 152751 Income/Property Taxes -1174926 -1180052 5126 5348535 3070709 2277826 139570483 112262987 27307496 0 3350 3600 18730766 31229996 33762531 27324889 405350 446282 1008702 1574231 81198872 44773979 38017252 36424893 193765596 206043433 22484846 25932747 5141227 4903905 313319620 333883976 6964942 9666584 16217500 15232500 9499146 11090032 32681588 35989116 X 280638032 297894860 280638032 297894860 313319620 333883976 X 17341628 -84800 X false true X true true true X 0 0.00000 85403748 81408341 74966387 80432082 79996301 402206859 54013438 49206368 47978688 42214972 58115779 251529245 139417186 130614709 122945075 122647054 138112080 653736104 653736104 38135211 20993539 17776879 15830996 17116748 109853373 56084 56084 38135211 20993539 17776879 15830996 17172832 109909457 0 117 251 2874 57 3299 177552514 151608248 140722205 138480924 155284969 763648860 0.85610 0.79890 0.14390 0.20110 X Part III Section B Line 12 Column a 2011 - Other revenue consists of miscellaneous income of 117. Part III Section B Line 12 Column c 2013 - Other revenue consists of miscellaneous income of 251. Part III Section B Line 12 Column d 2014 - Other revenue consists of miscellaneous income of 2,874. Part III Section B Line 12 Column e 2015 - Other revenue consists of miscellaneous income of 57. false true false false false false true 195560 false false 195560 false false II-B 1-b,g Throughout the year, a few members of SRC, Incs 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 195,560. false 793857 793857 39702723 10313508 29389215 4079003 3510499 568504 25730334 21696145 4034189 10892955 9253827 1639128 36424893 Financial derivatives and other financial products Closely-held equity interests Tax Deferred Section 457 Plan Assets 993617 F Investment Subsidiary 17267808 F Investment Subsidiary 4413719 F Investment Subsidiary 3257603 F 25932747 Federal income taxes Employee Benefits Withheld Accrued 839209 Tax Deferred Section 457 Plan Liability 993617 Billings in Excess of Costs 5069369 PTO Accrual 4187837 Income Taxes Payable 11090032 X 156471581 -440530 -440530 156912111 156912111 139129953 139129953 440530 440530 139570483 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, 2016 and 2015. XI 2d Miscellaneous expense items reported as expense on Form 990 440,530. XII 4b Miscellaneous expense items reported as expense on Form 990 440,530. East Asia and the Pacific 20 Program Services U.S. Government Contract Support Conferences 382809 Europe Including Iceland and Greenland 35 Program Services Contract Support Conferences 558934 Middle East and North Africa 10 Program Services U.S. Government Contract Support Conferences 323227 North America 19 Program Services U.S. Government Contract Support Conferences 77608 South America 2 Program Services U.S. Government Contract Support Conferences 9096 South Asia 18 Program Services U.S. Government Contract Support Conferences 846625 104 104 2198299 2198299 false false false false false false Part I Line 3 SRC, Inc. does not maintain any offices in any foreign countries. The activities disclosed in Part I, Line 3 represent costs associated with various employee travel 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 industry conferences. X X X true true X X X X X false true false true false true false false false M Catherine Richardson Former Chairperson 74500 74500 Patricia Civil Trustee 34750 20000 34750 20000 F William Smullen III Trustee 40250 40250 Paul G Tremont President CEO 406348 250937 2322 66113 22946 748666 Robert P Lane Executive Vice President, General Counsel 262200 204163 3564 39366 6267 515560 Philip Fazio Executive VP, Finance, Chief Financial Officer 288236 137153 2311 43015 18739 489454 James F Holland EVP Enterprise Svcs Solutions 268645 126633 2322 40163 17354 455117 Joseph T Lauko Executive VP Intelligence Information Systems 268032 108452 1242 38145 15633 431504 Kevin Hair Chief Operating Officer 238000 93388 1176 33139 365703 Matthew E Tryniski AVP, CUAS ISR 218736 60238 1104 26500 13217 319795 Andrea V Masten VP Business Development 201580 44536 994 24954 12573 284637 David L Sprague AVP Contracts 190038 43981 2669 23709 8959 269356 William O Jacobs Lead Sensitive Activity Integrator 331415 36347 418 20887 13217 402284 Jose Negron Lead Sensitive Activity Integrator 258054 36908 202 18228 13180 326572 Thomas A Wilson AVP Business Development 230823 60070 2147 26500 6071 325611 James R Periard AVP Business Development 221551 48655 2064 26500 8682 307452 Joseph Davies AVP Operational Finance 209492 52509 2907 26500 8959 300367 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 costs than a commercial flight 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 to 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 100,922 to the plan in calendar year 2015. Part I Line 5a The Company provides various incentive compensation plans of which all 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. Part I Line 6a The Company provides various incentive compensation plans of which all 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 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 0.02330 0.02330 true false A false false true false true false false false false A false Part I Line A 2005 Series Onondaga Industrial Development Agency Bonds. Bonds are payable in quarterly installments commencing 12/01/2007 through 12/31/2031. Payments of principal plus interest at a variable rate determined on a weekly basis using SIFMA index .84 at 9/30/2016 plus 0.05. Obligation is collateralized by a letter of credit in the amount of 12,998,000. Allen J Naples Trustee 558596 See Part V false Philip Fazio Officer 81785 See Part V false Robert P Lane Officer 18626 See Part V false Matthew E Tryniski Key Employee 94386 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 558,596 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. Total compensation paid to Philips son was 81,785 in the current fiscal year. Part IV Line 3 A family member of Robert P. Lane, an Officer of SRC, Inc. serves as an employee of the organization and received compensation during the year. Total Compensation paid to Roberts son was 18,626 in the current fiscal year. Part IV Line 4 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. Total compensation paid to Matthews wife was 94,386 in the current fiscal year. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees, and Key Employees Allen Naples, Trustee of SRC, Incs Board of Trustees Paul Tremont, Trustee, President and CEO of SRC, Inc., and Kimberly Boynton, Trustee of SRC, Incs Board of Trustees are current members of the Center State CEO Board of Trustees. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees, and Key Employees Kimberly Boynton, Trustee of SRC, Incs Board of Trustees and Kevin Hair an Officer of SRC, Inc. are current members of the United Way of CNY Board of Trustees. Form 990, Part VI, Section A, Line 2 Business Relationships between Officers, Directors, Trustees, and Key Employees Thomas Triscari, Vice Chairperson of SRC, Incs Board of Trustees and Paul Tremont, Trustee, President and CEO of SRC, Inc. are current members of the SRC Ventures, Inc. Board of Trustees. 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 the SRC, Incs Board of Trustees and a copy is provided to all members of the 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 disclosures 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 recuse 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 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 which is 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, Incs 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 84,800. 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 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 SRC International Inc 7502 Round Pond Road North Syracuse NY 13212 811355443 Type I Supporting Organization NY 501c3 509a3 SRC Inc true FourV Systems LLC 7502 Round Pond Road North Syracuse NY 13212 463464086 Cyber security NY SRC Ventures Inc -3442822 1084447 false false 0.88000 SRC Ventures Inc 7502 Round Pond Road North Syracuse NY 13212 800946320 Holding Company NY SRC Inc C Corp -11044871 103170474 1.00000 true true true false false false false true false false true false true true true true true true false false SRCTec LLC a 4469479 Book Value SRC Ventures Inc b 3257603 Book Value Acumen Detection LLC h 51008 Book Value Gryphon Sensors LLC j 85538 Book Value Acumen Detection LLC j 73078 Book Value SRCTec LLC l 9692761 Book Value Acumen Detection LLC l 71596 Book Value Gryphon Sensors LLC l 18121 Book Value SRC AUS PTY LTD l 360875 Book Value SRCTec LLC m 2880641 Book Value Gryphon Sensors LLC m 1707 Book Value All Listed Affiliates n Book Value All Listed Affiliates o Book Value SRCTec LLC p 3010826 Book Value SRC Ventures Inc p 203044 Book Value FourV Systems LLC p 47484 Book Value Acumen Detection LLC p 208150 Book Value Gryphon Sensors LLC p 270296 Book Value SRC International Inc p 28493 Book Value SRC AUS PTY LTD p 36084 Book Value SRCTec LLC q 166262 Book Value FourV Systems LLC q 7458 Book Value Part V Line 1b In the current year SRC, Inc. transferred cash to SRC Ventures, Inc. in support of funding the startup operations of the Company and affiliates. In the current year SRC, Inc. transferred cash to SRC International, Inc. in support of funding the startup operations of the Company. Part V Line 1g When business needs arise, the Companies may transfer/sell assets to each other. All transfers/sales are done at net-book-value. In the current year SRC, Inc. transferred various lab equipment to Acumen Detection, LLC. Part V Line 1h When business needs arise, the Companies may transfer/sell assets to each other. All transfers/sales are done at net-book-value. In the current year, there were no asset purchased from affiliates identified by SRC, Inc. Part V Line 1n SRCTec, LLC provides office space for one of the support services groups that are all employees of SRC, Inc. There was no charge between Companies for the use of this office space in the current year.