Reports & Publications

About the GI

Strategic Plan: A strategic plan focuses on the long-term vision and goals of an organization. It is broad and high-level, typically covering a time span of three to five years. The purpose of a strategic plan is to set the overall direction and priorities for the organization, defining what it aims to achieve and the strategies to get there. Key components include mission and vision statements, key objectives, strategic initiatives, and long-term goals. For example, a strategic plan might outline goals for expanding partnerships, enhancing community engagement, and growing organizational capacity.

Operating Plan: An operating plan focuses on short-term actions and detailed implementation. It is specific and detailed, usually covering a one-year period. The purpose of an operating plan is to translate the strategic plan into actionable tasks and daily operations, detailing how the strategic goals will be achieved in the short term. Key components include specific projects, tasks, timelines, resource allocation, and performance metrics. For example, an operating plan might list specific events to host, training sessions to conduct, budget allocations, and staff assignments to support the strategic goals.

Financial Reports

Audited Financial Statements (Last 5 Years): An audited financial statement for a nonprofit is a comprehensive report that provides a detailed overview of the organization’s financial activities and status, verified by an independent auditor. This document is crucial for maintaining transparency and accountability, especially for stakeholders such as donors, grantors, and regulatory bodies. It typically includes several key components. The Independent Auditor’s Report contains the auditor’s opinion on whether the financial statements are presented fairly in accordance with generally accepted accounting principles (GAAP), assessing the accuracy and completeness of the organization’s financial records.

Single Audit (2023): A single audit, also known as the Office of Management and Budget (OMB) Uniform Guidance Audit, is a detailed examination of a nonprofit organization’s financial statements and federal award expenditures conducted by an independent auditor. This type of audit is required for nonprofits that expend $750,000 or more in federal funds annually, ensuring compliance with federal regulations and program requirements.

IRS Form 990 Required for Tax-Exempt Organizations (Last 5 Years): IRS Form 990 is a crucial document that tax-exempt organizations in the United States must file annually with the Internal Revenue Service (IRS). This form provides the IRS and the public with essential information about the organization’s mission, programs, and finances, ensuring transparency and accountability.

Sponsored Expenditure Profile Summary: A Sponsored Expenditure Profile Summary is a detailed report that provides an overview of the expenditures related to sponsored projects and grants within an organization, typically an educational or research institution. This summary is essential for tracking and managing the financial aspects of externally funded projects, ensuring compliance with sponsor requirements and organizational policies.


The Griffon: this is the GI’s newsletter. A non-profit newsletter is a regular publication distributed to stakeholders, such as donors, volunteers, members, and the community, to inform, engage, and cultivate relationships. It serves as a communication tool to keep stakeholders updated on the organization’s activities, achievements, upcoming events, and opportunities for involvement.

Annual Report (2023): An annual report for a nonprofit organization is a comprehensive document that provides stakeholders, including donors, volunteers, members, and the community at large, with a detailed overview of the organization’s activities, accomplishments, and financial performance over the past fiscal year. It serves multiple purposes, including transparency, accountability, and communication of impact.

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Due to the severe weather conditions and state of emergency declared by the City of Rome, Rome Labs & Innovare Advancement Center will be closed on Wednesday, July 17, 2024. This closure affects all Griffiss Institute staff, residents, guests, and program participants, including STEM campers, interns, visiting faculty, fellows, and incubator clients. We will resume normal business hours of operation on July 18, 2024.

If you are impacted by the tornado and need assistance please call 211 or text 898-211, the United Way of Mohawk Valley can assist you with proper resources during this time.