2013-08-09T13:00:08-05:00 2012-12-31 990 2012-01-01 141815612 NEW YORK INDEPENDENT SYSTEM OPERATOR INC NEWY 5183566000 10 KREY BOULEVARD RENSSELAER NY 12144 CHERYL HUSSEY 2013-08-09 2012 2016-02-24 21:20:13Z STEPHEN G WHITLEY 10 KREY BOULEVARD RENSSELAER NY 12144 163911185 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: - MAINTAINING AND ENHANCING REGIONAL RELIABILITY, - OPERATING OPEN, FAIR AND COMPETITIVE WHOLESALE ELECTRICITY MARKETS, - PLANNING THE POWER SYSTEM FOR THE FUTURE , AND - PROVIDING FACTUAL INFORMATION TO POLICY MAKERS, STAKEHOLDERS AND INVESTORS IN THE POWER SYSTEM. 10 9 579 0 0 0 3861203 15554109 150803347 148353071 7652 -424210 0 0 154672202 163482970 0 0 0 0 65114410 71027036 0 0 0 89557792 92455934 154672202 163482970 0 0 504909926 520553377 504909926 520553377 0 0 NYISO'S MISSION, IN COLLABORATION WITH ITS STAKEHOLDERS, IS TO SERVE THE PUBLIC INTEREST AND PROVIDE BENEFIT TO CONSUMERS BY: - MAINTAINING AND ENHANCING REGIONAL RELIABILITY, - OPERATING OPEN, FAIR AND COMPETITIVE WHOLESALE ELECTRICITY MARKETS, - PLANNING THE POWER SYSTEM FOR THE FUTURE , AND - PROVIDING FACTUAL INFORMATION TO POLICY MAKERS, STAKEHOLDERS AND INVESTORS IN THE POWER SYSTEM. false false 123567484 148353071 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, 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: * OPERATION OF THE BULK ELECTRICITY GRID IN NEW YORK STATE, MANAGING THE FLOW OF POWER ON OVER 11,000 CIRCUIT-MILES OF HIGH-VOLTAGE TRANSMISSION LINES, FROM MORE THAN 500 POWER GENERATING UNITS, ON A MINUTE-TO-MINUTE BASIS, 24 HOURS-A- DAY, SEVEN DAYS-A-WEEK * ADMINISTRATION AND MONITORING OF NEW YORK'S WHOLESALE ELECTRICITY MARKETS, INVOLVING APPROXIMATELY 360 MARKET PARTICIPANTS IN DAILY AND HOURLY AUCTIONS THAT MATCH THE BUYERS AND SELLERS OF POWER. * CONDUCTING LONG-TERM PLANNING ASSESSMENTS OF NEW YORK STATE'S ELECTRICITY RESOURCES AND POWER NEEDS, EVALUATING THE FEASIBILITY OF PROJECTS PROPOSED TO MEET THOSE NEEDS, AND PROVIDING INFORMATION AND ANALYSIS TO POLICY MAKERS ON ENERGY ISSUES. * DEVELOPMENT AND DEPLOYMENT OF COMMUNICATIONS AND DATA MANAGEMENT SYSTEMS TO OPTIMIZE THE DISPATCH OF POWER ON THE BULK POWER SYSTEM AND IMPLEMENT EVOLVING WHOLESALE ELECTRICITY MARKET DESIGN, AS WELL AS THE ADMINISTRATION OF SMART GRID INFRASTRUCTURE ENHANCEMENTS. 123567484 true true false true false false false true false true false false false true false true false false false false false false false false false false false false true false false false false false false true false false false false false false true false false false false true X 248 0 true 579 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 STEPHEN G WHITLEY 61.00 X X 1041144 0 288990 ALFRED F BOSCHULTE 17.00 X 97500 0 0 ANASTASIA M SONG 12.00 X 34583 0 0 AVE M BIE 15.00 X 87750 0 0 ERLAND E KAILBOURNE 12.00 X 80750 0 0 JAMES V MAHONEY 16.00 X 98750 0 0 KAREN ANTION 12.00 X 73250 0 0 MICHAEL B BEMIS 16.00 X 99167 0 0 RICHARD E SCHULER 12.00 X 52500 0 0 ROBERT A HINEY 15.00 X 135000 0 0 THOMAS F RYAN JR 12.00 X 86000 0 0 DIANE L EGAN 56.00 X 150227 0 103900 JENNIFER CHATT 43.00 X 190620 0 79984 MARY K MCGARVEY 44.00 X 343963 0 106398 RANA MUKERJI 45.00 X 379608 0 107103 RICARDO T GONZALES 49.00 X 569826 0 290485 RICHARD J DEWEY 52.00 X 363212 0 112070 ROBERT E FERNANDEZ 48.00 X 363146 0 120658 THOMAS J RUMSEY 54.00 X 304920 0 96020 WAYNE M BAILEY 41.00 X 157456 0 13299 WESLEY J YEOMANS 51.00 X 293541 0 92115 XINGYONG H CHAO 60.00 X 299502 0 97092 BELINDA F THORNTON 47.00 X 207018 0 48376 BRIAN ZINK 45.00 X 227833 0 21825 EMILIE R N CHRAPOWITZKY 48.00 X 181014 0 62594 JACK BARSKY 45.00 X 257245 0 64580 JANET S JOYCE 46.00 X 202160 0 62992 JOHN A RAVALLI 50.00 X 188432 0 124924 ROBERT A PIKE 56.00 X 203783 0 76626 ZIAUDDIN AHMED 41.00 X 195149 0 28157 DANA WALTERS 50.00 X 216760 0 79130 GLORIA KAVANAH 56.00 X 216859 0 33341 JOHN M ADAMS 40.00 X 301900 0 105355 JOHN P BUECHLER 46.00 X 470662 0 22741 KAREN G GACH 48.00 X 224277 0 64981 NICOLE M BOUCHEZ 42.00 X 157653 0 25736 RYAN R SMITH 44.00 X 200748 0 40886 8753908 0 2370358 231 true true false ABB INC 940 MAIN CAMPUS DRIVE RALEIGH NC 27606 CONSULTING SERVICES 8723319 HUNTON AND WILLIAMS 200 PARK AVE 43RD FLOOR NEW YORK NY 10166 LEGAL SERVICES 4041601 POTOMAC ECONOMICS 9900 FAIRFAX BOULEVARD SUITE 560 FAIRFAX VA 22030 CONSULTING SERVICES 2943464 QUANTA TECHNOLOGY LLC 4020 WESTCHASE BLVD STE 300 RALEIGH NC 27807 CONSULTING SERVICES 2315306 UTILICAST LLC 321 3RD STREET SUITE 402 KIRKLAND WA 98083 CONSULTING SERVICES 2183808 41 15554109 15554109 TRANSMISSION TARIFF 221000 145159810 145159810 PLANNING STUDY FEES 221000 2252893 2252893 GOVERNANCE COMMITTEE FEES 221000 423400 423400 MARKET TRAINING COURSE FEES 221000 256505 256505 WIND FORECASTING SUBSCRIPTION 221000 226916 226916 33547 33547 0 0 148353071 4005 4005 0 0 0 0 0 0 428215 0 -428215 -428215 -428215 0 0 0 0 0 0 0 0 0 0 0 163482970 148353071 0 -424210 0 0 0 0 10232017 1202923 9029094 261877 206944 54933 46071766 31318384 14753382 5606503 3243859 2362644 4899500 3334887 1564613 3955373 2288534 1666839 0 5936581 5442298 494283 755737 755737 78169 78169 0 0 13040381 13040381 0 0 21291 21291 3223830 2103970 1119860 18827165 15611213 3215952 0 4436062 2982720 1453342 746515 355772 390743 0 801942 520763 281179 1425035 1425035 0 19573768 19573768 2673425 2673425 FERC FEES 11007320 11007320 GRANT EXPENSES-NEW YORK TRANSMISSION OWNERS 10091002 10091002 NPCC FEES 240034 240034 CHANGE IN FMV INTEREST RATE SWAPS -422323 -422323 0 0 0 0 163482970 123567484 39915486 0 0 882354 738567 389433671 378310392 841680 2172599 4218950 4695010 0 0 7703793 7660497 265454013 163743602 79701455 101710411 0 0 0 0 22128023 25265901 504909926 520553377 95512918 119669932 4671554 6506515 300438097 267083154 0 22794176 36239433 51171429 52252381 30321752 38801962 504909926 520553377 0 0 504909926 520553377 0 0 X false true true true true X 2554777 3861203 15554109 21970089 143202331 139223156 146770657 150803347 148353071 728352562 0 0 0 143202331 139223156 149325434 154664550 163907180 750322651 0 0 0 0 0 0 52498954 54857195 58742250 56747746 69720162 292566307 52498954 54857195 58742250 56747746 69720162 292566307 457756344 1488580 49863 26830 7652 4005 1576930 0 1488580 49863 26830 7652 4005 1576930 0 0 0 0 0 0 144690911 139273019 149352264 154672202 163911185 751899581 0.60880 0.62230 0.00200 0.00720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 78169 78169 0 123489315 123567484 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 12801 46159 61331 78169 198460 250000 250000 250000 250000 1000000 1500000 0 0 false true 1803400 1803400 26935340 3286128 23649212 25893397 8576256 17317141 59564930 45458738 14106192 151256946 106422480 44834466 101710411 0 REGULATORY LIABILITIES 16724266 CHANGE IN FMV OF INTEREST RATE 6253142 DEFERRED COMPENSATION 5192936 ACCRUED PENSION LIABILITY 5031926 ACCRUED POSTRETIREMENT LIABILITY 5027984 VOLTAGE RESERVE NET OF ACCRUED INT 571708 38801962 X true true X X X X X X true false false false false false false true true true STEPHEN G WHITLEY 667719 0 289414 0 84011 0 274160 0 14830 0 1330134 0 321571 0 WAYNE M BAILEY 75938 0 67188 0 14330 0 9219 0 4080 0 170755 0 67188 0 XINGYONG H CHAO 229690 0 67243 0 2569 0 80223 0 16869 0 396594 0 67243 0 RICHARD J DEWEY 274126 0 82000 0 7086 0 92801 0 19269 0 475282 0 80363 0 DIANE L EGAN 130574 0 18888 0 765 0 103300 0 600 0 254127 0 18653 0 ROBERT E FERNANDEZ 273381 0 82501 0 7264 0 100845 0 19813 0 483804 0 81092 0 RICARDO T GONZALES 318876 0 109839 0 141111 0 277333 0 13152 0 860311 0 107647 0 MARY K MCGARVEY 261727 0 76373 0 5863 0 95863 0 10535 0 450361 0 75470 0 RANA MUKERJI 286893 0 85786 0 6929 0 87890 0 19213 0 486711 0 84520 0 THOMAS J RUMSEY 233344 0 71576 0 0 0 78573 0 17447 0 400940 0 69148 0 WESLEY J YEOMANS 245416 0 48125 0 0 0 72511 0 19604 0 385656 0 48125 0 ZIAUDDIN AHMED 169529 0 25620 0 0 0 9543 0 18614 0 223306 0 0 0 EMILIE R N CHRAPOWITZKY 161759 0 19255 0 0 0 45157 0 17437 0 243608 0 0 0 JANET S JOYCE 174799 0 27361 0 0 0 44555 0 18437 0 265152 0 0 0 ROBERT A PIKE 176150 0 27633 0 0 0 57269 0 19357 0 280409 0 0 0 JOHN A RAVALLI 170061 0 18371 0 0 0 117364 0 7560 0 313356 0 0 0 RYAN R SMITH 152819 0 47929 0 0 0 23448 0 17438 0 241634 0 15000 0 BELINDA F THORNTON 190227 0 16041 0 750 0 45581 0 2795 0 255394 0 0 0 BRIAN ZINK 109677 0 28766 0 89390 0 8742 0 13083 0 249658 0 0 0 JOHN M ADAMS 164696 0 137204 0 0 0 90624 0 14731 0 407255 0 0 0 JOHN P BUECHLER 469912 0 0 0 750 0 20659 0 2082 0 493403 0 0 0 KAREN G GACH 193842 0 30435 0 0 0 47044 0 17937 0 289258 0 0 0 JENNIFER CHATT 190546 0 0 0 74 0 66393 0 13591 0 270604 0 0 0 NICOLE M BOUCHEZ 143534 0 14119 0 0 0 18724 0 7012 0 183389 0 0 0 GLORIA KAVANAH 200663 0 16196 0 0 0 19229 0 14112 0 250200 0 0 0 DANA WALTERS 163180 0 17585 0 35995 0 60333 0 18797 0 295890 0 0 0 JACK BARSKY 180792 0 12233 0 64220 0 47951 0 16629 0 321825 0 0 0 Health or social club dues or initiation fees Schedule J, Part I, Line 1a THOMAS RUMSEY, VP-EXTERNAL AFFAIRS, WAS REIMBURSED IN ACCORDANCE WITH NYISO'S EXPENSE REIMBURSEMENT POLICY FOR A CLUB MEMBERSHIP THAT IS USED TO CONDUCT NYISO BUSINESS. THESE PAYMENTS WERE NOT TREATED AS TAXABLE COMPENSATION BECAUSE THOMAS RUMSEY SOLEY USES HIS CLUB MEMBERSHIP FOR NYISO BUSINESS PURPOSES. COMPENSATION OF CEO SCHEDULE J, PART I, LINE 3 TO DETERMINE THE COMPENSATION OF NYISO'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, NYISO, THROUGH COLLABORATION WITH OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS, 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. 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. Severance or change-of-control payment Schedule J, Part I, Line 4a BRIAN ZINK RECEIVED $85,000 SEVERANCE PAY DURING 2012 PER HIS SEVERANCE AGREEMENT AT HIS TIME OF TERMINATION IN 2012. Non-fixed payments Schedule J, Part I, Line 7 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. Payments on contract that is subject to the initial contract exception Schedule J, Part I, Line 8 COMPENSATION REPORTED ON FORM 990, PART VII FOR STEPHEN G. WHITLEY INCLUDES SALARY AND AT RISK COMPENSATION PAYMENTS PAID PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT DATED AS OF JULY 5,2008 BY WHICH MR. WHITLEY BECAME PRESIDENT AND CHIEF EXECUTIVE OFFICER. MR. WHITLEY HAD NOT PREVIOUSLY BEEN A DISQUALIFIED PERSON WITH RESPECT TO NYISO, AND THE CONTRACT WAS IN EFFECT BEFORE HE RENDERED ANY SERVICES TO NYISO. HIS CONTRACT WAS RENEWED OCTOBER 16, 2012 . OFFICERS, DIRECTORS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES SCHEDULE J, PART II - COLUMN C REFLECTS " DEFERRED COMPENSATION", WHICH INCLUDES THE ANNUAL INCREASE 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 ACTUARIALLY-COMPUTED VALUE OF THEIR RESPECTIVE PENSION AND POST RETIREMENT BENEFITS. - COLUMN D REFLECTS " NONTAXABLE BENEFITS", WHICH FOR NYISO CONSISTS PRIMARILY OF MEDICAL, DENTAL, AND RELATED BENEFITS. MICHAEL EGAN SPOUSE 152011 SEE SUPPLEMENTAL INFORMATION false LAURA GRIBBIN SISTER 109866 SEE SUPPLEMENTAL INFORMATION false DESCRIPTION OF TRANSACTION - MICHAEL EGAN SCHEDULE L, PART IV, COLUMN (D) MICHAEL EGAN, A SHIFT SUPERVISOR IN NYISO OPERATIONS CONTROL ROOM, IS NOT AN OFFICER AND DOES NOT MEET THE INTERNAL REVENUE SERVICE DEFINITION OF A " KEY EMPLOYEE." DIANE EGAN, NYISO'S CORPORATE SECRETARY AND BOARD SECRETARY, IS AN OFFICER OF THE COMPANY AND IS MARRIED TO MICHAEL EGAN, ANOTHER NYISO EMPLOYEE. DESCRIPTION OF TRANSACTION - LAURA GRIBBIN SCHEDULE L, PART IV, COLUMN (D) LAURA GRIBBIN, A PRODUCT BUSINESS SENIOR 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. TOTAL NUMBER OF INDIVIDUALS EMPLOYED IN CALENDAR YEAR 2012 FORM 990, PART V, LINE 2A NYISO'S RESPONSES TO THESE QUESTIONS INDICATE 579 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 2012. THE TOTAL NUMBER OF NYISO EMPLOYEES AT DECEMBER 31, 2012 WAS 514, MANY OF WHOM ARE PROFESSIONAL POWER SYSTEM ENGINEERS, NERC CERTIFIED SYSTEM OPERATORS, ACCOUNTANTS, ECONOMISTS AND ATTORNEYS. THE TOTAL OF EMPLOYEES WITH BACHELORS AND/OR POSTGRADUATE DEGREES WAS AT AROUND 395. ALL NYISO EMPLOYEES HAVE BEEN SUBJECTED TO EXTENSIVE SECURITY REVIEWS, IN COOPERATION WITH THE UNITED STATES DEPARTMENTS OF ENERGY AND HOMELAND SECURITY. MEMBERS OR STOCKHOLDERS FORM 990, PART VI, LINE 6 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. ELECT MEMBERS OF THE GOVERNING BODY FORM 990, PART VI, LINE 7A 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. DECISIONS OF THE GOVERNING BODY FORM 990, PART VI, LINE 7B 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 MANGEMENT COMMITTEE'S CONCURRENCE BY FILING PURSUANT TO SECTION 206 OF THE FEDERAL POWER ACT. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b PRIOR TO FILING, NYISO'S FORM 990 IS REVIEWED BY THE CONTROLLER & ASSISTANT TREASURER, 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. Conflict of interest policy Form 990, Part VI, Section B, Line 12c NYSIO 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 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. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a TO DETERMINE THE COMPENSATION OF NYISO'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, NYISO, THROUGH COLLABORATION WITH OTHER INDEPENDENT SYSTEM OPERATORS AND REGIONAL TRANSMISSION ORGANIZATIONS, 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. 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. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b NYISO ENGAGED AN INDEPENDENT EXECUTIVE COMPENSATION FIRM TO CONDUCT A BENCHMARK COMPENSATION ASSESSMENT TO AID NYISO'S BOARD OF DIRECTORS IN THEIR REVIEW OF COMPENSATION FOR ALL NYISO OFFICERS. THE COMPENSATION FIRM REVIEWS THE SCOPE OF RESPONSIBILITY FOR EACH NYISO OFFICER AND THEN DETERMINES THE COMPENSATION RATES FOR COMPARABLE POSITIONS AT OTHER INDEPENDENT SYSTEM OPERATORS AND ELECTRIC UTILITY COMPANIES OF SIMILAR SIZE. THE REPORT WAS USED TO FACILITATE A REVIEW BY THE COMMERCE AND COMPENSATION COMMITTEE AND APPROVAL BY NYISO'S BOARD OF DIRECTORS OF CURRENT COMPENSATION FOR THESE POSITIONS. THIS REVIEW IS PERFORMED ANNUALLY AND INCLUDES CONTEMPORANEOUS DOCUMENTATION OF DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. SIMILARLY, KEY EMPLOYEE POSITIONS ARE BENCHMARKED BY INDEPENDENT COMPENSATION FIRMS AND/OR AGAINST SIMILAR POSITIONS IN OTHER ORGANIZATIONS AND INDUSTRIES. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 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 ANNUAL REPORT, PUBLISHED ON NYISO'S WEBSITE. NEW YORK INDEPENDENT SYSTEM OPERATOR MED DENTAL & LIFE 10 KREY BLVD RENSSELAER NY 12144 POSTRTRMT INS NY 501(C)(9) N/A NYISO false false false false false false false false false false false false false false false false false false false