2017-08-09T09:00:09-05:00 2016-12-31 990 2016-01-01 141815612 NEW YORK INDEPENDENT SYSTEM OPERATOR INC NEWY 5183566000 10 KREY BOULEVARD FINANCE RENSSELAER NY 12144 Cheryl Hussey Vice President and CFO 2017-08-09 2016 2021-01-29 14:40:06Z BRADLEY C JONES 10 KREY BOULEVARD FINANCE RENSSELAER NY 12144 175461484 false X WWW.NYISO.COM X 1997 NY NYISO'S MISSION, IN COLLABORATION WITH ITS STAKEHOLDERS, IS TO SERVE THE PUBLIC INTEREST AND PROVIDE BENEFIT TO CONSUMERS BY: (CONTINUED ON SCHEDULE O) 10 9 616 0 0 0 683185 0 174097867 175255123 -34373 185026 0 174746679 175440149 10000 10000 0 78827961 82968390 0 0 95908718 92461759 174746679 175440149 0 0 582390117 614576242 582390117 614576242 0 0 NYISO'S MISSION, IN COLLABORATION WITH ITS STAKEHOLDERS, IS TO SERVE THE PUBLIC INTEREST AND PROVIDE BENEFIT TO CONSUMERS BY: (CONTINUED ON SCHEDULE O) false false 130896814 10000 175255123 NYISO, GOVERNED BY AN INDEPENDENT BOARD OF DIRECTORS AND A COMMITTEE STRUCTURE COMPRISED OF STAKEHOLDER REPRESENTATIVES, IS SUBJECT TO THE OVERSIGHT OF THE FEDERAL ENERGY REGULATORY COMMISSION, AND REGULATED IN CERTAIN ASPECTS BY THE NEW YORK STATE PUBLIC SERVICE COMMISSION. ITS OPERATIONS ARE ALSO OVERSEEN BY ELECTRIC SYSTEM RELIABILITY ORGANIZATIONS, INCLUDING THE NORTH AMERICAN ELECTRIC RELIABILITY CORPORATION, THE NORTHEAST POWER COORDINATING COUNCIL, AND THE NEW YORK STATE RELIABILITY COUNCIL. NYISO'S EFFORTS TO SERVE THE PUBLIC INTEREST AND PROVIDE BENEFIT TO CONSUMERS INCLUDE: i. OPERATING THE BULK ELECTRICITY GRID IN NEW YORK STATE, MANAGING THE FLOW OF POWER ON MORE THAN 11,000 CIRCUIT-MILES OF HIGH-VOLTAGE TRANSMISSION LINES, FROM OVER 500 POWER GENERATING UNITS, ON A MINUTE-TO-MINUTE BASIS, 24 HOURS-A-DAY, SEVEN DAYS-A-WEEK. ii. ADMINISTERING AND MONITORING OF NEW YORK'S WHOLESALE ELECTRICITY MARKETS, INVOLVING MORE THAN 400 MARKET PARTICIPANTS IN DAILY AND HOURLY AUCTIONS THAT MATCH THE BUYERS AND SELLERS OF POWER. iii. CONDUCTING LONG-TERM PLANNING ASSESSMENTS OF NEW YORK STATE'S ELECTRICITY RESOURCES AND POWER NEEDS, AND EVALUATING THE FEASIBILITY OF PROJECTS PROPOSED TO MEET THOSE NEEDS. iv. PROVIDING AUTHORITATIVE AND OBJECTIVE DATA AND ANALYSIS TO POLICY MAKERS, REGULATORS, MARKET PARTICIPANTS AND OTHER STAKEHOLDERS ON ENERGY ISSUES. v. DEVELOPING AND DEPLOYING COMMUNICATIONS AND DATA MANAGEMENT SYSTEMS TO OPTIMIZE THE DISPATCH OF POWER ON THE BULK POWER SYSTEM AND IMPLEMENT WHOLESALE ELECTRICITY MARKET DESIGN, AS WELL AS INTEGRATE SMART GRID INFRASTRUCTURE ENHANCEMENTS. 130896814 true false false true false false false false true false true false false false true true true false false false false false false false false false false true false true false false false false false false true false false false false false false true false false false true 226 0 true 616 true false false false false false false false false false false X 10 9 false false false false false false false true false false true true true true true true true true false NY X CHERYL HUSSEY 5183566000 10 KREY BLVD RENSSELAER NY 12144 BRADLEY C JONES PRESIDENT, CHIEF EXECUTIVE OFFICER 53.0 X X 651079 0 338958 MICHAEL B BEMIS CHAIR, BOARD OF DIRECTORS 20.0 X 209000 0 0 AVE M BIE DIRECTOR 17.0 X 158000 0 0 BERNARD W DAN DIRECTOR 12.0 X 62097 0 0 DANIEL C HILL DIRECTOR 15.0 X 148000 0 0 ROBERT A HINEY DIRECTOR 14.0 X 146472 0 0 ERLAND E KAILBOURNE DIRECTOR 14.0 X 87958 0 0 ROGER B KELLEY DIRECTOR 12.0 X 10583 0 0 JAMES V MAHONEY DIRECTOR 15.0 X 148000 0 0 DANIEL B MORE DIRECTOR 12.0 X 47000 0 0 VIKKI PRYOR DIRECTOR 12.0 X 71903 0 0 THOMAS F RYAN JR DIRECTOR 12.0 X 148472 0 0 JANE SADOWSKY DIRECTOR 12.0 X 57097 0 0 XINGYONG H CHAO VP SYST. & RESOURCES PLANNING 47.0 X 814311 0 24527 DOUGLAS CHAPMAN VICE PRESIDENT CHIEF INFORMATION OFFICER 53.0 X 370612 0 133671 EMILIE R N CHRAPOWITZKY VICE PRESIDENT MARKET OPERATIONS 50.0 X 406496 0 140777 RICHARD J DEWEY EXECUTIVE VICE PRESIDENT 50.0 X 662079 0 207800 DIANE L EGAN CORP SECY & SECRETARY TO BOARD 54.0 X 213261 0 84933 ROBERT E FERNANDEZ VICE PRESIDENT & GENERAL COUNSEL 47.0 X 594402 0 185488 RICARDO T GONZALES SENIOR VP OF OPERATIONS & COO 50.0 X 811882 0 235433 CHERYL L HUSSEY VP & CHIEF FINANCIAL OFFICER 47.0 X 437071 0 138814 KEVIN LANAHAN VICE PRESIDENT EXTERNAL AFFAIRS 49.0 X 292809 0 141445 RANA MUKERJI SENIOR VP MARKET STRUCTURES 44.0 X 553644 0 169090 ZACHARY G SMITH VP, SYST. & RESOURCES PLANNING 51.0 X 262632 0 91958 JOSETTE VALENTI VICE PRESIDENT OF HUMAN RESOURCES 44.0 X 199545 0 87562 WESLEY J YEOMANS VP OF OPERATIONS 51.0 X 496953 0 148914 MATTHEW A ANGLIN DIRECTOR OF ENTERPRISE SECURITY & CISO 46.0 X 223590 0 83838 AARON D MARKHAM DIRECTOR OF GRID OPERATIONS 51.0 X 209782 0 58509 DIANE M PELUSO SR. MANAGER OF ENERGY MKTS, OPERATIONS & RELIABILITY PRODUCTS 42.0 X 167511 0 37499 ROBERT A PIKE DIRECTOR OF MARKET DESIGN AND PROJECT MANAGEMENT 53.0 X 305246 0 113310 TODD P ROMANSKY MANAGER IT INFRASTRUCTURES 44.0 X 164566 0 46127 MARTIN SILVERMAN DIRECTOR OF INTERNAL AUDIT 43.0 X 239979 0 74156 RYAN SMITH DIRECTOR OF IT SOFTWARE TECHNOLOGY 45.0 X 209029 0 65433 MICHAEL STAHL SR. MANAGER IT INFRASTRUCTURE & OPERATIONS 46.0 X 193300 0 52262 GARY WIELAND MANAGER OF FACILITIES 44.0 X 152575 0 35503 JOHN P BUECHLER EXECUTIVE REGULATORY POLICY ADVISOR 46.0 X 528764 0 28979 KAREN G GACH DIRECTOR DEPUTY GENERAL COUNSEL 46.0 X 320235 0 109303 RAYMOND W STALTER DIRECTOR, REGULATORY AFFAIRS 50.0 X 280276 0 69100 DANA WALTERS DIRECTOR OF RELIABILITY & ECONOMIC PLANNING 47.0 X 264809 0 83708 STEPHEN G WHITLEY SPECIAL ASSISTANT TO THE CHAIRMAN OF THE BOARD OF DIRECTORS 40.0 X 2256506 0 229237 13577526 0 3216334 323 false true false ABB INC 940 MAIN CAMPUS DR RALEIGH NC 27606 CONSULTING SERVICES 5683406 HUNTON AND WILLIAMS 200 PARK AVE 43RD FLOOR NEW YORK NY 10166 LEGAL SERVICES 5481968 POTOMAC ECONOMICS 9900 FAIRFAX BOULEVARD SUITE 560 FAIRFAX VA 22030 CONSULTING SERVICES 3565495 ANALYSIS GROUP INC 111 HUNTING AVENUE BOSTON MA 02199 CONSULTING SERVICES 1337615 GENERAL ELECTRIC INTERNATIONAL INC PO BOX 643449 PITTSBURGH PA 152643449 CONSULTING SERVICES 1144203 45 X 0 TRANSMISSION TARIFF 221000 156253809 156253809 FERC FEES RECOVERY 221000 12397456 12397456 PLANNING STUDIES REVENUE 221000 5460603 5460603 GOVERANCE COMMITTEE FEES 221000 431600 431600 MARKET TRAING COURSES 221000 301238 301238 410417 410417 0 0 175255123 206361 206361 0 0 -38059 59394 38059 -59394 -21335 -21335 0 0 0 0 0 175440149 175255123 0 185026 10000 10000 10907121 1132751 9774370 245673 245673 53762077 35611607 18150470 6329749 3606841 2722908 7269185 4647975 2621210 4454585 2538328 1916257 0 0 0 5232964 5148994 83970 793351 0 793351 92705 92705 17004061 17004061 0 0 30732 30732 3525671 1954809 1570862 18625820 16799423 1826397 6051315 4280533 1770782 707516 311246 396270 1157230 922885 234345 1250400 1250400 24179894 24179894 2682143 2682143 FERC FEES 12397456 12397456 NPCC FEES 264718 264718 CHANGE IN FMV INTEREST RATE SWAPS -1534217 -1534217 0 0 0 0 175440149 130896814 44543335 0 1857906 732337 399431904 468585139 10439149 0 27111596 5352084 0 0 0 0 0 10844118 9477773 363234169 252671664 114551020 110562505 423655 720532 0 0 17730769 19145872 582390117 614576242 130256726 185822701 14686398 21821915 290143095 265548896 56850794 53066005 45169109 48665617 45283995 39651108 582390117 614576242 0 0 582390117 614576242 0 0 X false true X true false X 15554109 8942426 4610945 683185 0 29790665 148353071 150892754 169696693 174097867 175255123 818295508 0 0 0 163907180 159835180 174307638 174781052 175255123 848086173 0 0 0 0 0 0 69720162 72357809 65120417 65361313 67203382 339763083 69720162 72357809 65120417 65361313 67203382 339763083 508323090 4005 5999 9303 12659 206361 238327 0 4005 5999 9303 12659 206361 238327 0 0 0 0 0 0 0 163911185 159841179 174316941 174793711 175461484 848324500 0.5992 0.6020 0.0003 0.0000 X 92705 92705 130804109 130896814 1000000 0 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 75842 81343 76012 92705 325902 250000 250000 250000 250000 1000000 1500000 0 0 0 0 false true X 2998911 2998911 28935225 8894499 20040726 73472059 20619558 52852501 76280579 64928449 11352130 181547395 158229158 23318237 110562505 REGULATORY LIABILITIES 20325989 DEFERRED COMPENSATION 4400386 FMV OF INTEREST RATE SWAPS 2823029 ACCRUED POSTRETIREMENT LIABILITY 6633487 ACCRUED PENSION LIABILITY 4930278 VOLTAGE RESERVE NET OF ACCRUED INTEREST 537939 39651108 X 175461484 0 0 175461484 -21335 -21335 175440149 175461484 21335 21335 175440149 0 0 175440149 Schedule D, Part IV, Line 2b Explanation of escrow agreement THE AMOUNTS RECORDED ON LINE 21 OF PART X ON FORM 990 CONSIST OF WORKING CAPITAL RESERVES AND CASH COLLATERAL SECURITY DEPOSITS RECEIVED FROM MARKET PARTICIPANTS. ALL MARKET PARTICIPANTS CONTRIBUTE TO A WORKING CAPITAL RESERVE FUND, TOTALING $33,148,714 AT 12/31/16, WHICH IS USED TO PRESERVE LIQUIDITY IN THE NYISO MARKETS. ACCUMULATED INTEREST ON THE WORKING CAPITAL FUND IS DISTRIBUTED ANNUALLY TO MARKET PARTICIPANTS. ADDITIONALLY, CERTAIN MARKET PARTICIPANTS PROVIDE CASH AS COLLATERAL TO MEET THEIR NYISO CREDITWORTHINESS REQUIREMENTS. DEPOSITS TOTAL $232,400,182 AT 12/31/16 AND ARE INVESTED IN MONEY MARKET FUNDS AND/OR SHORT TERM AND INTERMEDIATE BOND FUNDS ACCORDING TO MARKET PARTICIPANT DIRECTION. INTEREST/DIVIDENDS ARE PROVIDED TO PARTICIPANTS MONTHLY. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote NYISO HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE (THE CODE) SECTION 501(C)3 AND IS GENERALLY EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE CODE. NYISO HAS DETERMINED, PRIOR TO RECORDING ANY BENEFIT IN THE FINANCIAL STATEMENTS, THAT IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES, AS REQUIRED BY THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF FASB ASC (FIN48/ASC 740). A TAX POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED UPON SETTLEMENT. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements LOSS ON DISPOSAL OF ASSETS - -59394 GAINS/LOSSES OF MARKETABLE SECURITIES - 38059 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 LOSS ON DISPOSAL OF ASSETS - 59394 GAINS/LOSSES OF MARKETABLE SECURITIES - -38059 true IEEE FOUNDATION INC 445 HOES LANE PO BOX 1331 PISCATAWAY NJ 088551331 237310664 501 (C) 3 10000 SCHOLARSHIP 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. BEFORE PLEDGING A DONATION TO THE IEEE POWER & ENERGY SOCIETY (PES) SCHOLARSHIP PLUS INITIATIVE, THE NYISO CONDUCTED DUE DILIGENCE ON THIS SCHOLARSHIP PROGRAM TO ASSESS ITS STABILITY, EQUALITY IN ADMINISTRATION, AND CONSISTENCY WITH THE NYISO'S MISSION AND OBJECTIVES. THE NYISO'S HUMAN RESOURCE (HR) AND LEGAL DEPARTMENTS CONDUCTED INDEPENDENT EVALUATIONS OF THE PROGRAM'S PUBLICLY AVAILABLE INFORMATION (AVAILABLE AT HTTP://WWW.EE- SCHOLARSHIP.ORG/SPONSORSHIP/DONATE-NOW). NYISO HR AND LEGAL REPRESENTATIVES ALSO SPOKE WITH THE IEEE FOUNDATION CAPITAL CAMPAIGN MANAGER TO OBTAIN FURTHER PROGRAM SPECIFICS, INCLUDING THE SELECTION PROCESS FOR THE PES SCHOLARS. IEEE CONFIRMED THAT CONTRIBUTIONS ARE MADE TO THE IEEE FOUNDATION, NOT SCHOLARSHIP CANIDATES, AND THAT INDIVIDUAL SCHOLARSHIPS ARE AWARDED ONLY AFTER COMPLETION OF THE APPLICATION PROCESS. THERE IS NO REQUIREMENT FOR THE NYISO TO PROVIDE INTERNSHIPS OR CAREER OPPORTUNITIES TO IEEE SCHOLARSHIP AWARDEES AS A CONDITION OF THE NYISO'S SUPPORT FOR THE PROGRAM. THE NYISO BELIEVES THAT THIS SCHOLARSHIP PROGRAM IS APPROPRIATELY ADMINISTERED AND PROVIDES SOLID RESOURCE FOR THE DEVELOPMENT OF ENGINEERS, INCLUDING WITHIN THE FIELD OF POWER SYSTEMS. BY SUPPORTING THE EDUCATION OF FUTURE POWER INDUSTRY WORKFORCE, THIS SCHOLARSHIP PROGRAM IS ALIGNED WITH THE NYISO'S PURPOSE. X true true X X X X X X true false false false false false false true true true BRADLEY C JONES PRESIDENT, CHIEF EXECUTIVE OFFICER 526862 0 104112 0 20105 0 313922 0 25036 0 990037 0 22987 0 MICHAEL B BEMIS CHAIR, BOARD OF DIRECTORS 209000 0 0 0 0 0 0 0 0 0 209000 0 0 0 AVE M BIE DIRECTOR 158000 0 0 0 0 0 0 0 0 0 158000 0 0 0 XINGYONG H CHAO VP SYST. & RESOURCES PLANNING 177240 0 525197 0 111874 0 2277 0 22250 0 838838 0 201178 0 DOUGLAS CHAPMAN VICE PRESIDENT CHIEF INFORMATION OFFICER 263789 0 51595 0 55228 0 118524 0 15147 0 504283 0 14181 0 EMILIE R N CHRAPOWITZKY VICE PRESIDENT MARKET OPERATIONS 244417 0 158646 0 3433 0 115576 0 25201 0 547273 0 72868 0 RICHARD J DEWEY EXECUTIVE VICE PRESIDENT 349267 0 279501 0 33311 0 185273 0 22527 0 869879 0 131911 0 DIANE L EGAN CORP SECY & SECRETARY TO BOARD 134630 0 59208 0 19423 0 76110 0 8823 0 298194 0 33383 0 ROBERT E FERNANDEZ VICE PRESIDENT & GENERAL COUNSEL 319888 0 240689 0 33825 0 158455 0 27033 0 779890 0 123581 0 RICARDO T GONZALES SENIOR VP OF OPERATIONS & COO 345193 0 299266 0 167423 0 226638 0 8795 0 1047315 0 156012 0 CHERYL L HUSSEY VP & CHIEF FINANCIAL OFFICER 251333 0 175589 0 10149 0 115963 0 22851 0 575885 0 83988 0 KEVIN LANAHAN VICE PRESIDENT EXTERNAL AFFAIRS 270750 0 21392 0 667 0 120077 0 21368 0 434254 0 5851 0 RANA MUKERJI SENIOR VP MARKET STRUCTURES 295906 0 229679 0 28059 0 143075 0 26015 0 722734 0 121179 0 ZACHARY G SMITH VP, SYST. & RESOURCES PLANNING 178854 0 63753 0 20025 0 76811 0 15147 0 354590 0 0 0 JOSETTE VALENTI VICE PRESIDENT OF HUMAN RESOURCES 156187 0 0 0 43358 0 73705 0 13857 0 287107 0 0 0 WESLEY J YEOMANS VP OF OPERATIONS 268100 0 203239 0 25614 0 127396 0 21518 0 645867 0 107194 0 MATTHEW A ANGLIN DIRECTOR OF ENTERPRISE SECURITY & CISO 190465 0 32695 0 430 0 60450 0 23388 0 307428 0 6135 0 AARON D MARKHAM DIRECTOR OF GRID OPERATIONS 170691 0 20804 0 18287 0 40812 0 17697 0 268291 0 0 0 DIANE M PELUSO SR. MANAGER OF ENERGY MKTS, OPERATIONS & RELIABILITY PRODUCTS 149824 0 16254 0 1433 0 19244 0 18255 0 205010 0 0 0 ROBERT A PIKE DIRECTOR OF MARKET DESIGN AND PROJECT MANAGEMENT 200447 0 86282 0 18517 0 86195 0 27115 0 418556 0 48672 0 TODD P ROMANSKY MANAGER IT INFRASTRUCTURES 146836 0 16520 0 1210 0 23218 0 22909 0 210693 0 0 0 MARTIN SILVERMAN DIRECTOR OF INTERNAL AUDIT 158305 0 60345 0 21329 0 55509 0 18647 0 314135 0 30467 0 RYAN SMITH DIRECTOR OF IT SOFTWARE TECHNOLOGY 188053 0 20695 0 281 0 44065 0 21368 0 274462 0 0 0 MICHAEL STAHL SR. MANAGER IT INFRASTRUCTURE & OPERATIONS 170812 0 19392 0 3096 0 26957 0 25305 0 245562 0 0 0 GARY WIELAND MANAGER OF FACILITIES 136366 0 14967 0 1242 0 17041 0 18462 0 188078 0 0 0 JOHN P BUECHLER EXECUTIVE REGULATORY POLICY ADVISOR 517814 0 0 0 10950 0 25845 0 3134 0 557743 0 0 0 KAREN G GACH DIRECTOR DEPUTY GENERAL COUNSEL 209691 0 91821 0 18723 0 78684 0 30619 0 429538 0 52241 0 RAYMOND W STALTER DIRECTOR, REGULATORY AFFAIRS 200945 0 78128 0 1203 0 67426 0 1674 0 349376 0 43866 0 DANA WALTERS DIRECTOR OF RELIABILITY & ECONOMIC PLANNING 171419 0 73483 0 19907 0 61872 0 21836 0 348517 0 42354 0 STEPHEN G WHITLEY SPECIAL ASSISTANT TO THE CHAIRMAN OF THE BOARD OF DIRECTORS 655217 0 1536188 0 65101 0 220442 0 8795 0 2485743 0 669500 0 Schedule J, Part I, Line 3 COMPENSATION OF CEO TO DETERMINE THE COMPENSATION OF NYISO'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, NYISO, THROUGH COLLABORATION WITH OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS, PERIODICALLY ENGAGES AN INDEPENDENT EXECUTIVE COMPENSATION FIRM TO PERFORM A BENCHMARK COMPENSATION ASSESSMENT TO AID NYISO'S BOARD OF DIRECTORS IN THEIR REVIEW OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION. IN ADDITION, AS PART OF THIS COMPENSATION ASSESSMENT, THE FORM 990 OF OTHER RELEVANT ORGANIZATIONS ( INCLUDING OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS ) ARE REVIEWED. THE RESULTS OF THIS ASSESSMENT ARE PROVIDED TO THE COMMERCE AND COMPENSATION COMMITTEE OF NYISO'S BOARD OF DIRECTORS FOR REVIEW ANNUALLY. THE COMMERCE AND COMPENSATION COMMITTEE MAKES A RECOMMENDATION REGARDING THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION TO THE BOARD OF DIRECTORS, AND THE BOARD OF DIRECTORS AUTHORIZES THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION ANNUALLY. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER HAS A WRITTEN EMPLOYMENT CONTRACT WITH CONDITIONS APPROVED BY THE BOARD OF DIRECTORS. NYISO COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY THE NYISO'S BOARD OF DIRECTORS, WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT (2) THE BOARD OF DIRECTORS AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE BOARD OF DIRECTORS ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. Schedule J, Part II, Column (B)(ii) BONUS AND INCENTIVE COMPENSATION COLUMN B(II) BONUS AND INCENTIVE COMPENSATION INCLUDES AMOUNTS PAID IN 2016 UNDER NYISO'S ANNUAL INCENTIVE PROGRAM AND LONG TERM INCENTIVE PLAN. NYISO'S LONG TERM INCENTIVE PLAN PROVIDES CERTAIN MEMBERS OF SENIOR MANAGEMENT WITH DEFERRED COMPENSATION BENEFITS. BENEFITS ARE BASED UPON THE ACHIEVEMENT OF THREE-YEAR PERFORMANCE GOALS ESTABLISHED BY THE BOARD OF DIRECTORS. THESE AMOUNTS ARE SUBJECT TO FORFEITURE IF THE EMPLOYEE VOLUNTARILY ENDS THEIR EMPLOYMENT WITH NYISO, OR IS TERMINATED FOR CAUSE. LONG TERM INCENTIVE PLAN PAYMENTS ARE PAID IN EQUAL INSTALLMENTS OVER THREE YEARS FOLLOWING COMPLETION OF THE THREE YEAR CYCLE. A PARTICIPANT IS VESTED IN THAT PORTION OF THE AWARD THAT IS PAYABLE TO THE PARTICIPANT AS OF A DISTRIBUTION DATE. Schedule J, Part II, Column (C) COLUMN C DEFERRED COMPENSATION COLUMN C REFLECTS "DEFERRED COMPENSATION", WHICH INCLUDES AMOUNTS EARNED AND ACCRUED IN 2016 UNDER THE LONG TERM INCENTIVE PLAN, AND 401K CONTRIBUTIONS, AND THE ANNUAL INCREASE OR DECREASE IN ACTUARIAL VALUE OF ACCRUED PENSION BENEFITS AND ACCRUED POST RETIREMENT BENEFITS. DEPENDING ON AGE, YEARS OF SERVICE, AND OTHER ACTUARIAL ASSUMPTIONS, CERTAIN INDIVIDUALS MAY REFLECT SIGNIFICANT CHANGES IN THE ACTUARIAL COMPUTED VALUE OF THEIR RESPECTIVE PENSION AND POST RETIREMENT BENEFITS. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments VICE PRESIDENT AND CHIEF INFORMATION OFFICER, DOUGLAS CHAPMAN RECEIVED PAYMENT FOR RELOCATION COSTS THAT WAS GROSSED UP FOR TAXES IN ACCORDANCE WITH HIS WRITTEN EMPLOYMENT OFFER. THESE PAYMENTS WERE TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 4a Severance or change-of-control payment THE INDIVIDUAL THAT RECEIVED A SEVERANCE PAYMENT WAS XINGYONG H. CHAO IN THE AMOUNT OF $98,652. Schedule J, Part I, Line 7 Non-fixed payments AMOUNTS LISTED ON FORM 990, PART VII, FOR NYISO OFFICERS AND EMPLOYEES, INCLUDE PAYMENTS MADE AND ACCRUED PURSUANT TO NYISO'S ANNUAL INCENTIVE PROGRAM AND LONG-TERM INCENTIVE PLAN FOR NYISO OFFICERS AND CERTAIN EMPLOYEES. Schedule J, Part I, Line 8 Payments on contract that is subject to the initial contract exception COMPENSATION REPORTED FOR BRADLEY C JONES INCLUDES SALARY AND AT RISK COMPENSATION PAYMENTS PAID PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT DATED AS OF SEPTEMBER 14, 2015, BY WHICH MR. JONES BECAME PRESIDENT AND CHIEF EXECUTIVE OFFICER. MR. JONES HAD NOT PREVIOUSLY BEEN A DISQUALIFIED PERSON WITH RESPECT TO NYISO, AND THE CONTRACT WAS IN EFFECT BEFORE HE RENDERED ANY SERVICES TO NYISO. COMPENSATION REPORTED FOR STEPHEN G. WHITLEY INCLUDES SALARY AND AT RISK COMPENSATION PAYMENTS PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT NAMING MR. WHITLEY THE NYISO PRESIDENT AND CHIEF EXECUTIVE OFFICER ORIGINALLY DATED JULY 5, 2008, AND RENEWED WITHOUT MATERIAL CHANGES ON OCTOBER 16, 2012, AND FURTHER RENEWED AND AMENDED ON JANUARY 13, 2015. PRIOR TO THE ORIGINAL CONTRACT, MR. WHITLEY HAD NOT BEEN A DISQUALIFIED PERSON WITH RESPECT TO NYISO, AND THE CONTRACT WAS IN EFFECT BEFORE HE RENDERED ANY SERVICES TO THE NYISO. MR. WHITLEY'S TERM AS PRESIDENT AND CEO CONCLUDED ON OCTOBER 12, 2015, WHEN MR. JONES WAS APPOINTED PRESIDENT AND CEO. MR. WHITLEY CEASED TO BE A VOTING MEMBER OF THE NYISO'S BOARD OF DIRECTORS AT THAT TIME. PURSUANT TO HIS EMPLOYMENT CONTRACT, MR. WHITLEY THEN BECAME SPECIAL ASSISTANT TO THE CHAIRMAN OF THE BOARD OF DIRECTORS UNTIL DECEMBER 31, 2016. IN THIS CAPACITY, MR. WHITLEY PROVIDED SERVICES AS REQUESTED BY THE CHAIRMAN OF THE BOARD, INCLUDING TRANSITIONAL SUPPORT TO THE INCOMING PRESIDENT AND CEO AND ADVICE ON STRATEGIC INITIATIVES. AT NO TIME DURING 2016 DID MR. WHITLEY PARTICIPATE IN ANY MANAGEMENT DECISIONS AFFECTING THE NYISO. COMPENSATION RECEIVED BY MR. WHITLEY IN 2016 INCLUDED A LONG TERM INCENTIVE PLAN PAYMENT FOR THE THREE YEAR CYCLE 2013 - 2015 IN THE AMOUNT OF $1,137,924, WHICH WAS FULLY EARNED AT THE COMPLETION OF THE CYCLE. THIS COMPENSATION IS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(ii) - BONUS AND INCENTIVE COMPENSATION. LAURA GRIBBIN SISTER OF A NYISO OFFICER 126962 LAURA GRIBBIN, A LEAD PRODUCT BUSINESS ANALYST AT NYISO, IS NOT AN OFFICER AND DOES NOT MEET THE INTERNAL REVENUE SERVICE DEFINITION OF A " KEY EMPLOYEE". WESLEY YEOMANS, NYISO'S VICE PRESIDENT OF OPERATIONS, IS AN OFFICER OF THE COMPANY AND IS LAURA GRIBBIN'S BROTHER, ANOTHER NYISO EMPLOYEE. false WALTER GROSENHEIDER SON OF NYISO DIRECTOR 12754 WALTER GROSENHEIDER WAS A PAID INTERN DURING THE SUMMER OF 2016. WALTER GROSENHEIDER IS THE SON OF NYISO DIRECTOR, AVE M. BIE false JAMILAH AHMAD-SMITH WIFE OF A NYISO OFFICER 105957 JAMILAH AHMAD-SMITH, SENIOR OPERATIONS ENGINEERING ENGINEER AT NYISO, IS NOT AN OFFICER AND DOES NOT MEET THE INTERNAL REVENUE SERVICE DEFINITION OF A " KEY EMPLOYEE". ZACHARY G SMITH, NYISO'S VICE PRESIDENT OF SYSTEM AND RESOURCES PLANNING, IS AN OFFICER OF THE COMPANY AND IS JAMILAH AHMAD-SMITH'S HUSBAND, ANOTHER NYISO EMPLOYEE. false Form 990, Part I, Line 1 BRIEF MISSION * MAINTAINING AND ENHANCING REGIONAL RELIABILITY. * OPERATING OPEN, FAIR AND COMPETITIVE WHOLESALE ELECTRICITY MARKETS. * PLANNING THE POWER SYSTEM FOR THE FUTURE. * PROVIDING FACTUAL INFORMATION TO POLICY MAKERS, STAKEHOLDERS AND INVESTORS IN THE POWER SYSTEM. Form 990, Part III, Line 1 ORGANIZATION'S MISSION * MAINTAINING AND ENHANCING REGIONAL RELIABILITY. * OPERATING OPEN, FAIR AND COMPETITIVE WHOLESALE ELECTRICITY MARKETS. * PLANNING THE POWER SYSTEM FOR THE FUTURE. * PROVIDING FACTUAL INFORMATION TO POLICY MAKERS, STAKEHOLDERS AND INVESTORS IN THE POWER SYSTEM. Form 990, Part V, Line 2a TOTAL NUMBER OF INDIVIDUALS EMPLOYED IN CALENDAR YEAR 2016 NYISO'S RESPONSES TO THESE QUESTIONS INDICATE 616 AS THE TOTAL NUMBER OF EMPLOYEES. AS PER THE FORM 990 INSTRUCTIONS, THIS TOTAL REPRESENTS THE NUMBER OF WAGE FORMS FOR EMPLOYEES ( INCLUDING STUDENT INTERNS AND PART-TIME EMPLOYEES) ON NYISO'S PAYROLL AT ANY POINT DURING 2016. THE TOTAL NUMBER OF NYISO EMPLOYEES AT DECEMBER 31, 2016 WAS 538, THE MAJORITY OF WHOM ARE PROFESSIONAL POWER SYSTEM ENGINEERS, NERC CERTIFIED SYSTEM OPERATORS, ACCOUNTANTS, ECONOMISTS AND ATTORNEYS WITH BACHELORS AND/OR POSTGRADUATE DEGREES. ALL NYISO EMPLOYEES HAVE BEEN SUBJECTED TO EXTENSIVE SECURITY REVIEWS, IN COOPERATION WITH THE UNITED STATES DEPARTMENTS OF ENERGY AND HOMELAND SECURITY. Form 990, Part VI, Line 6 MEMBERS OR STOCKHOLDERS NYISO DOES NOT HAVE ANY MEMBERS OR STOCKHOLDERS WITH OWNERSHIP RIGHTS IN NYISO OR ITS ASSETS. IN ACCORDANCE WITH NYISO'S GOVERNING DOCUMENTS, ENTITIES THAT PARTICIPATE IN THE NYISO-ADMINISTERED MARKETS MAY TAKE PART IN A COMMITTEE PROCESS TO DEVELOP NYISO'S BUDGET AND MODIFICATIONS TO NYISO'S TARIFFS AND PROCEDURES, WHICH ARE THEN RECOMMENDED TO NYISO'S BOARD FOR ITS APPROVAL. NYISO'S BOARD MAINTAINS THE ULTIMATE RESPONSIBILITY FOR THE GOVERNANCE DECISIONS OF NYISO. Form 990, Part VI, Line 7a ELECT MEMBERS OF THE GOVERNING BODY NYISO'S BOARD OF DIRECTORS MAKES FINAL DETERMINATIONS TO FILL VACANCIES ON THE BOARD. NYISO STAKEHOLDERS PARTICIPATING IN THE MANAGEMENT COMMITTEE ( NYISO'S HIGHEST RANKING STAKEHOLDER COMMITTEE WITH REPRESENTATIVES FROM GENERATION OWNERS, TRANSMISSION OWNERS, END-USE CONSUMERS, PUBLIC POWER/ENVIRONMENTAL PARTIES, AND OTHER SUPPLIERS ) ASSIST IN THIS PROCESS BY CONDUCTING A SEARCH TO IDENTIFY AT LEAST THREE BOARD CANDIDATES FOR EACH VACANCY THAT MEET THE QUALIFICATIONS SPECIFIED IN NYISO'S GOVERNING DOCUMENTS. NYISO'S BOARD MAY SELECT A DIRECTOR FROM THIS LIST, OR IT MAY SEEK A CANDIDATE IDENTIFIED THROUGH ANOTHER SOURCE, SUCH AS AN EXECUTIVE SEARCH FIRM. Form 990, Part VI, Line 7b DECISIONS OF THE GOVERNING BODY AS A GENERAL RULE, THE DECISIONS OF NYISO'S BOARD ARE NOT SUBJECT TO THE APPROVAL OF NYISO STAKEHOLDERS. NOTE THAT IN ACCORDANCE WITH NYISO'S GOVERNING DOCUMENTS, NYISO STAKEHOLDERS THAT PARTICIPATE IN NYISO'S HIGHEST RANKING STAKEHOLDER COMMITTEE, THE MANAGEMENT COMMITTEE, HAVE TO ENDORSE CHANGES SOUGHT BY NYISO'S BOARD TO NYISO'S TARIFFS AND GOVERNING DOCUMENTS TO BE FILED PURSUANT TO SECTION 205 OF THE FEDERAL POWER ACT WITH NYISO'S CHIEF REGULATOR - THE FEDERAL ENERGY REGULATORY COMMISSION. HOWEVER, NYISO'S BOARD MAY PURSUE SUCH CHANGES WITHOUT THE MANAGEMENT COMMITTEE'S CONCURRENCE BY FILING PURSUANT TO SECTION 206 OF THE FEDERAL POWER ACT. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING, NYISO'S FORM 990 IS REVIEWED BY THE CONTROLLER & ASSISTANT TREASURER AND/OR ACCOUNTING MANAGER, VICE PRESIDENT & CHIEF FINANCIAL OFFICER, PRESIDENT & CHIEF EXECUTIVE OFFICER, AS WELL AS LEGAL COUNSEL. FOLLOWING THE COMPLETION OF REVIEWS BY THESE PARTIES, NYISO'S FORM 990 IS PROVIDED TO THE COMMERCE AND COMPENSATION COMMITTEE OF NYISO'S BOARD OF DIRECTORS ALONG WITH THE REST OF THE BOARD OF DIRECTORS FOR THEIR REVIEW. A COMPLETE COPY OF THE FORM 990 (INCLUDING ALL REQUIRED SCHEDULES), AS ULTIMATELY FILED WITH THE IRS, IS PROVIDED TO THE BOARD OF DIRECTORS BEFORE BEING FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy NYISO PROVIDES TRAINING FOR NEW EMPLOYEES ON A VARIETY OF COMPLIANCE ISSUES, INCLUDING ITS CONFLICTS OF INTEREST POLICY, AND CONDUCTS ANNUAL REFRESHER TRAINING FOR ALL EMPLOYEES, MANAGEMENT AND BOARD MEMBERS. NYISO ALSO PUBLISHES A PROHIBITED INVESTMENT LIST AT LEAST ANNUALLY AND REQUIRES THAT EMPLOYEES, MANAGEMENT AND BOARD MEMBERS SIGN AN ANNUAL COMPLIANCE CERTIFICATE ACKNOWLEDGING THEIR OBLIGATIONS UNDER THE CODE OF CONDUCT AND CERTIFYING THAT THEY HAVE NO PROHIBITED INVESTMENTS OR BUSINESS OR FINANCIAL CONFLICTS OF INTEREST. FURTHER, NYISO PERIODICALLY CONDUCTS A CONFLICTS OF INTEREST SURVEY TO ENSURE EMPLOYEES ARE IN COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY AND REQUIRE THAT THEY DISCLOSE ANY POSSIBLE CONCERNS TO THE COMPLIANCE OFFICE. EMPLOYEES ALSO HAVE ACCESS TO A COMPLIANCE HOTLINE AND AN EXTERNAL WHISTLEBLOWER SERVICE, SHOULD THEY HAVE A COMPLIANCE QUESTION OR WISH TO REPORT A COMPLIANCE CONCERN. THE COMPLIANCE OFFICE FOLLOWS UP ON REPORTED COMPLIANCE CONCERNS AND ENSURES THAT IDENTIFIED ISSUES ARE HANDLED IN ACCORDANCE WITH NYISO'S POLICIES. Form 990, Part VI, Line 15a Process to establish compensation of top management official TO DETERMINE THE COMPENSATION OF NYISO'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, NYISO, THROUGH COLLABORATION WITH OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS, PERIODICALLY ENGAGES AN INDEPENDENT EXECUTIVE COMPENSATION FIRM TO PERFORM A BENCHMARK COMPENSATION ASSESSMENT TO AID NYISO'S BOARD OF DIRECTORS IN THEIR REVIEW OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION. SUCH BENCHMARKING ASSESSMENT WAS LAST COMPLETED IN 2016. IN ADDITION, AS PART OF THIS COMPENSATION ASSESSMENT, THE FORM 990 OF OTHER RELEVANT ORGANIZATIONS (INCLUDING OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS ) ARE REVIEWED. THE RESULTS OF THIS ASSESSMENT ARE PROVIDED TO THE COMMERCE AND COMPENSATION COMMITTEE OF NYISO'S BOARD OF DIRECTORS FOR REVIEW ANNUALLY. THE COMMERCE AND COMPENSATION COMMITTEE MAKES A RECOMMENDATION REGARDING THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION TO THE BOARD OF DIRECTORS, AND THE BOARD OF DIRECTORS AUTHORIZES THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S COMPENSATION ANNUALLY. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER HAS A WRITTEN EMPLOYMENT CONTRACT WITH CONDITIONS APPROVED BY THE BOARD OF DIRECTORS. NYISO COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY THE NYISO'S BOARD OF DIRECTORS, WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT (2) THE BOARD OF DIRECTORS AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE BOARD OF DIRECTORS ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. Form 990, Part VI, Line 15b Process to establish compensation of other employees TO DETERMINE THE COMPENSATION OF NYISO'S OFFICERS, NYISO, THROUGH COLLABORATION WITH OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS, PERIODICALLY ENGAGES AN INDEPENDENT EXECUTIVE COMPENSATION FIRM TO PERFORM A BENCHMARK COMPENSATION ASSESSMENT TO AID NYISO'S BOARD OF DIRECTORS IN THEIR REVIEW OF OFFICER'S COMPENSATION. SUCH BENCHMARKING ASSESSMENT WAS LAST COMPLETED IN 2016. IN ADDITION, THE FORM 990 OF OTHER RELEVANT ORGANIZATIONS (INCLUDING OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS ) ARE REVIEWED. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER PROVIDES THE RESULTS OF THIS ASSESSMENT AND HIS RECOMMENDATIONS TO THE COMMERCE AND COMPENSATION COMMITTEE OF NYISO'S BOARD OF DIRECTORS FOR REVIEW ANNUALLY. THE COMMERCE AND COMPENSATION COMMITTEE WILL MAKE RECOMMENDATIONS REGARDING THE OFFICERS COMPENSATION TO THE BOARD OF DIRECTORS, AND THE BOARD OF DIRECTORS WILL AUTHORIZE THE OFFICERS COMPENSATION ANNUALLY. THIS REVIEW IS PERFORMED ANNUALLY AND INCLUDES CONTEMPORANEOUS DOCUMENTATION OF DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. SIMILARLY, KEY EMPLOYEE POSITIONS ARE PERIODICALLY BENCHMARKED BY INDEPENDENT COMPENSATION FIRMS AND/OR AGAINST SIMILAR POSITIONS IN OTHER ORGANIZATIONS AND INDUSTRIES. Form 990, Part VI, Line 19 Required documents available to the public NYISO'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE PART OF ITS FEDERALLY-APPROVED TARIFFS. THESE DOCUMENTS ARE ON FILE AT FERC AND ARE PUBLISHED ON NYISO'S WEBSITE. NYISO'S FINANCIAL STATEMENTS ARE INCLUDED IN AN ANNUALREPORT, PUBLISHED ON NYISO'S WEBSITE. Form 990, Part VIII, Line 2f Other Program Service Revenue WIND FORCASTING SUBSCRIPTION - Total Revenue: 270679, Related or Exempt Function Revenue: 270679, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; FERC CCG REVENUE - Total Revenue: 139738, Related or Exempt Function Revenue: 139738, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; NEW YORK INDEPENDENTSYSTEM OPERATOR HEALTH AND WELFARE BENEFIT TRUST 10 KREY BLVD RENSSELAER NY 12144 271623493 POSTRTRMT INS NY 501(c)(9 NA false false false false false false false false false false false false false false false false false true false false