TOTAL REVENUE - FISCAL 2025
$35,074,845
Up 11.3% from $31,516,471 in fiscal 2024.
Serc Reliability Corporation
Charlotte, North Carolina - EIN 20-3311003 - Latest filing: fiscal 2025 (Jan 1, 2025 - Dec 31, 2025)
HOW TO READ THIS PAGE
How to read this page: every figure below is from the fiscal-2025 Form 990, filed Sep 24, 2026. People named below are shown as reported on the fiscal-2025 Form 990, filed Sep 24, 2026 - the filing is a snapshot of that fiscal year, not a list of current officeholders.
THE FILING IN ONE PARAGRAPH
Serc Reliability Corporation reported $35,074,845 in revenue and $35,377,580 in expenses in fiscal 2025, a deficit of $302,735 for the year. Program services took $19,599,932 of expenses, or 55.4%. The organization closed the year with $14,100,175 in net assets - about 4.8 months of expenses at the fiscal-2025 spending level.
At a Glance - Fiscal 2025
All values are fiscal 2025 unless a tile says otherwise.
TOTAL EXPENSES - FISCAL 2025
$35,377,580
Revenue minus expenses: -$302,735 in fiscal 2025.
PROGRAM EXPENSE SHARE - FISCAL 2025
55.4%
$19,599,932 of $35,377,580 went to program services.
NET ASSETS - END OF FISCAL 2025
$14,100,175
Total assets $33,849,482 minus total liabilities $19,749,307.
TOP EXECUTIVE PAY - FISCAL 2025
$922,346
Jason Blake, President/ceo, as reported on the fiscal-2025 Form 990, filed Sep 24, 2026. Total across all compensation columns.
PEOPLE REPORTED - FISCAL 2025
120 Employees
Plus 831 volunteers reported on the fiscal-2025 Form 990.
Money In, Money Out - Fiscal 2025
Revenue and expenses as reported on the fiscal-2025 Form 990, filed Sep 24, 2026. Donated goods are separated from cash so food and supply donations do not read as cash income.
Where the Money Went - Fiscal 2025
Management and general is the figure reported on the filing (Part IX total); where a filing does not carry it, it is computed as the residual of total expenses minus program and fundraising expenses. Cost to raise a dollar in fiscal 2025: $0.00 - $0 in fundraising expenses divided by $31,547,616 in total contributions.
Where the Money Came From - Fiscal 2025
| Source | Fiscal 2025 |
|---|---|
| Total Contributions | $31,547,616 |
| All Other Contributions | $31,547,616 |
| Program Service Revenue | $2,793,717 |
| Investment Income | $726,794 |
| Other Revenue | $6,718 |
| Total Revenue (All Sources) | $35,074,845 |
Government Grants - Not Broken Out
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
The fiscal-2025 Form 990 does not break out government grants as a separate line for this organization. This page shows Not Broken Out instead of estimating a figure.
Reserves and Balance Sheet - Fiscal 2025
Reserves and Runway
4.8 Months
of reserves - $14,100,175 in net assets at the end of fiscal 2025, divided by average monthly expenses of about $2,948,131 in fiscal 2025.
Net assets can include donor-restricted funds, buildings and other assets that cannot be spent like cash. Treat months of reserves as a scale measure, not as cash in the bank.
Balance Sheet - End of Fiscal 2025
| Total Assets | $33,849,482 |
| Total Liabilities | $19,749,307 |
| Liabilities as Share of Assets | 58.3% |
| Net Assets | $14,100,175 |
Leadership Pay - Fiscal 2025
Pay is the summed total across all compensation columns on the Form 990 - pay from the organization, pay from related organizations, and other compensation. People are shown as reported on the fiscal-2025 Form 990, filed Sep 24, 2026.
| Name and Title, as Reported | Total Pay - Fiscal 2025 | Share of Expenses |
|---|---|---|
| Jason Blake - President/ceo | $922,346 | 2.61% |
| Timothy Ponseti - VP - Operations | $573,963 | 1.62% |
| Holly Hawkins - VP - Gen. Counsel & Corp. | $542,920 | 1.53% |
| George Krogstie - CFO & Corporate Treasurer | $522,904 | 1.48% |
| Brian Thumm - VP - Risk & Strategy | $441,610 | 1.25% |
| Melinda Montgomery - Sr. Dir.-Engineering & Adv | $393,794 | 1.11% |
| Jon Tauber - Director - Enforcement | $388,727 | 1.10% |
| William Peterson - Dir. - Entity Develop. | $345,550 | 0.98% |
| Edward Franks - Dir. - Reliability Assurance | $336,232 | 0.95% |
| Gaurav Karandikar - Director - Rapa & Tech Svcs | $329,145 | 0.93% |
| Lonni Dieck - Lead Independent Director | $166,690 | 0.47% |
| Shirley Bloomfield - Independent Director | $152,669 | 0.43% |
| Deborah Wheeler - Independent Director | $150,000 | 0.42% |
The full Part VII table lists every officer, director, trustee and key employee named on the filing, with hours and the same summed total. Compensation is reported for the calendar year ending within the fiscal year, per the Form 990.
Board and Governance - Fiscal 2025
Board and policy answers as reported on the fiscal-2025 Form 990, filed Sep 24, 2026.
Board Roster - as Reported on the Fiscal-2025 Form 990
18 voting members, 18 independent - independence count as reported on the fiscal-2025 Form 990.
| Name, as Reported | Role, as Reported |
|---|---|
| Jason Blake | President/ceo |
| Timothy Ponseti | VP - Operations |
| Holly Hawkins | VP - Gen. Counsel & Corp. |
| George Krogstie | CFO & Corporate Treasurer |
| Brian Thumm | VP - Risk & Strategy |
| Melinda Montgomery | Sr. Dir.-Engineering & Adv |
| Jon Tauber | Director - Enforcement |
| William Peterson | Dir. - Entity Develop. |
| Edward Franks | Dir. - Reliability Assurance |
| Gaurav Karandikar | Director - Rapa & Tech Svcs |
| Lonni Dieck | Lead Independent Director |
| Shirley Bloomfield | Independent Director |
| Deborah Wheeler | Independent Director |
| Pandelis Xanthakos | Director |
| Lisa Johnson | Chair |
| Vicky Budreau | Director |
| Virgil Hobbs | Director |
| Christopher Peters | Co-Chair |
| Doug Lego | Director |
| Eric Laverty | Director |
| Todd Hillman | Director |
| Lee Ragsdale | Director |
| Ricky Erixton | Director |
| Beth McFarland | Director |
| Chip Whitworth | Director |
| Tim Lyons | Director |
| Venona Greaff | Director |
| Denver York | Director |
Governance Policy Flags - Fiscal 2025
Conflict of Interest PolicyYes - Reported
Whistleblower PolicyYes - Reported
Document Retention PolicyYes - Reported
Audited Financial StatementsYes - Reported
Audit CommitteeYes - Reported
Board Size and Independence18 voting / 18 independent
Flags report what the organization answered on the Form 990. A Yes means the policy was reported on the filing; it is not an outside review of how the policy works in practice.
Grants - Fiscal 2025
Grants Made - Fiscal 2025
This organization reported $0 in grants paid and filed no Schedule I for fiscal 2025. The page states that directly instead of leaving a blank grants section. Grantmaking organizations show a full recipient list in this section - recipient name, amount and stated purpose, as reported.
Trend - Revenue
Years are shown only where a filing is held. Missing years are absent, never filled in.
| Fiscal Year | Revenue | Change |
|---|---|---|
| Fiscal 2024 (Prior-Year Column on the Fiscal-2025 Filing) | $31,516,471 | - |
| Fiscal 2025 | $35,074,845 | +11.3% |
This table grows to a 10-year view (revenue, expenses, net assets and top pay) as earlier filings for this organization are added to the record. Missing years are absent, never filled in.
Filings on Record
| Tax Period | Form | Status | Source |
|---|---|---|---|
| Jan 1, 2025 - Dec 31, 2025 | Form 990 | In Force - Filed Sep 24, 2026 | Original Filing at the IRS |
If an amended return is filed, the newest amended return supersedes the earlier one and the table marks which filing is in force.