St. Elizabeth College of Nursing graduates 47 new nurses in class of 2022

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UTICA, N.Y. — The 2022 class of 47 nurses graduated from the St. Elizabeth College of Nursing (SECON) on Saturday, May 14. Of the graduates, 42 attended weekday classes and five participated in the college’s evening/weekend program. Mary, Mother of Our Savior Parish hosted the 116th graduation ceremony, the college said in a news release. […]

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C Squared Systems renews lease on Corporate Drive in DeWitt

Construction, Design & Real Estate, Small Business, Subscriber Only, Technology

DeWITT, N.Y. — Telecommunications company C Squared Systems, LLC recently renewed the lease of its office space at 6027 Corporate Drive in the town of DeWitt. Gary Cottet and Patrick Hillery, of Cushman & Wakefield/Pyramid Brokerage Company, negotiated the lease renewal, according to a release from the real-estate firm. No terms of the lease were

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Church Street Apartments in Port Byron are sold

Construction, Design & Real Estate, Regional News, Subscriber Only

PORT BYRON, N.Y. — The Church Street Apartments, a 39-unit apartment complex at 27 Church St. in Port Byron, has been sold. DePaul Acquisitions, LLC purchased the complex from Port Byron Redevelopment Co., LP for $1, plus the assumption of the mortgage loan, according to a release from Hemisphere Holdings Corp. The loan amount was

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Three small businesses begin operations in downtown Ithaca

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ITHACA, N.Y. — Two eateries and a waxing salon are now conducting business in downtown Ithaca. The businesses are Lev Kitchen, Adam Grill, and the Pretty Peach Wax Studio. Representatives from the City of Ithaca, Downtown Ithaca Alliance (DIA), and Tompkins Chamber participated in April 22 ribbon-cutting ceremonies held at each of the businesses, DIA

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ITHACA, N.Y. — Two eateries and a waxing salon are now conducting business in downtown Ithaca.

The businesses are Lev Kitchen, Adam Grill, and the Pretty Peach Wax Studio.

Representatives from the City of Ithaca, Downtown Ithaca Alliance (DIA), and Tompkins Chamber participated in April 22 ribbon-cutting ceremonies held at each of the businesses, DIA said.

“We are delighted to welcome these three businesses to our community,” Gary Ferguson, executive director of the Downtown Ithaca Alliance, said. “Each one of them brings a unique experience to our area, and we hope the community will enjoy the dining experiences at Adam Grill and The Lev Kitchen and will try the self-care services at The Pretty Peach. We thank each of them for their investment, and we look forward to seeing them thrive and grow.”

About the businesses

Lev Kitchen, located at 222 E. State St. on the Ithaca Commons, specializes in Middle Eastern cuisine. Its concept is inspired by a Yemeni flatbread called Malawach and the amalgamation of distinctive cuisines and cultures from countries such as Israel, Lebanon, and Syria, as described in the DIA announcement.

Benjamin Plotke and Yen Wu — both Cornell University School of Hotel Administration graduates — are the owners of this new eatery.

For its employees, the couple works with Ithaca Welcomes Refugees; Open Doors English; and Catholic Charities to obtain referrals for people who may be struggling to find a job due to language or cultural barriers.

The story of Adam Grill began in Ithaca two years ago when owner Galal Hassanien (aka Jimmy) brought his family and street-food business from Brooklyn to the Ithaca Commons. Late in 2021, the business found a new home in Center Ithaca’s food court. The eatery focuses on Halal food items such as gyros, kebabs, rice bowls, falafel, and other popular Mediterranean dishes. Souad Azzouay, Galal’s wife, prepares the fresh baklava available daily. Adam Grill also serves other fresh baked goods, such as muffins and croissants, as well, DIA said.

The Pretty Peach Wax Studio has a team of estheticians that treat their clients to an array of body-waxing services. Joy Draper is the creator and owner of the Pretty Peach, which has its flagship location in Syracuse.

Prior to starting the Pretty Peach, Draper worked in the pharmaceutical industry, but she eventually got “tired of corporate America” and decided to start her own business, DIA said. In 2017, she obtained her waxing certification from Shear Ego International School in Rochester. A year later, she launched the Pretty Peach.

“Once again, the vibrancy of our community has been improved by inspiring entrepreneurs such as Joy, Jimmy, and Ben & Yen — adding quality products and services to our mix of locally owned businesses,” Jennifer Taveres, president and CEO of the Tompkins County Chamber of Commerce, said.

PAR’s strong Q1 revenue offset by operating costs

Insurance & Financial Services, Manufacturing & Engineering, Regional News, Subscriber Only, Technology

NEW HARTFORD, N.Y. — Last year’s acquisition of loyalty and guest-engagement platform Punchh paid off in double-digit sales growth in the first quarter of 2022 for PAR Technology Corp. (NYSE: PAR), but a number of factors still led to an overall net loss in the period. PAR revenue increased 47.4 percent to $80.3 million in

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PAR revenue increased 47.4 percent to $80.3 million in the quarter, up from $54.4 million in the year-ago period, with the 2021 purchase of Punchh contributing $11.2 million.

“This revenue growth was driven across all business lines and specifically around our software recurring revenues,” PAR CEO Savneet Singh said during a May 10 conference call with investors.

PAR’s net loss in the first quarter was $15.7 million, or 58 cents per share, compared to a net loss of $8.3 million, or 38 cents, in the same quarter in 2021. Adjusted net loss for the latest quarter was $7.1 million, or 26 cents a share, down from
$7.6 million, or 34 cents, a year earlier.

The loss was less than the 41-cent loss predicted by Zacks Equity Research. With a “hold” rating for PAR shares, the research report noted PAR’s revenue surpassed Zacks’ estimate by 5.62 percent. This is the fourth straight time the company has topped Zacks revenue estimates.

Zacks forecasts $78.73 million in revenue for PAR in the second quarter with a loss of 37 cents per share and full-year revenue of $319.3 million with a loss of $1.41 a share.

Speaking about the company’s revenue growth, Singh noted that PAR’s Brink cloud point-of-sale system and Punchh both contributed.

In the first quarter, PAR activated 1,244 new Brink sites. The company increased its active Brink store count by 40 percent to 17,000, compared to last year.

“Brink continues to be the distinguished leader in cloud POS for enterprise QSR (quick-service restaurants) and fast casual restaurants,” Singh contended.

PAR added more than 1,500 new Punchh sites in the latest quarter and now has more than 58,800 active sites.

“Digital loyalty programs are critical to the future of restaurant marketing,” Singh said. “Applications like Punchh make it easier for brands to connect with their most loyal customers and increase customer lifetime value or account book.”

Punchh currently has more than 200 million “loyalty guests,” each unique to a brand. Some guests are duplicated across brands, but the firm has more than 150 million unique guest profiles, which represents about 58 percent of adults in the U.S., Singh said. PAR acquired Punchh for $500 million in cash and shares in the spring of 2021.

PAR’s product revenue in this year’s first quarter was $25.1 million, up 35 percent from $18.6 million in the year-prior quarter. The growth was driven primarily by hardware-refresh investments, CFO Bryan Menar told investors.

Service revenue in the first quarter totaled $33.8 million, up 87 percent from $18 million in the year-ago period, fueled mainly by the $11.2 million in Punchh sales. Total subscription services’ revenue jumped to $21.7 million in the latest quarter from $8.4 million in Q1 2021 as the company works to expand its total recurring revenue base of both software-related services and hardware-support contracts.

Contract revenue from PAR’s government business rose 20 percent from $17.9 million year ago to $21.4 million in the latest quarter. “The increase in contract revenue was driven by a $2.7 million increase in our ISR solutions product line,” Menar said. PAR maintains a significant contract backlog, totaling $195.7 million as of March 31, 2022, compared with $140.1 million a year ago.

PAR also experienced an increase in operating costs of $7.9 million, bringing its costs to $22.4 million for the first quarter from $14.5 million in the year-ago quarter. That increase was primarily driven by $6.6 million in total Punchh operation expenses, Menar said.

PAR’s research and development costs totaled $10.8 million in this year’s first quarter, up from $5.8 million in the same quarter in 2021, with Punchh driving $3.4 million of that increase, he noted.

PAR also used $21.2 million cash in operating activities, up from just $3.4 million in the year-prior period. The increase was due to a $5 million rise in accounts receivable related to the government segment, a $5 million increase in inventory to ensure prompt product shipment in spite of supply-chain issues, and the payout of the company’s annual cash bonus.

Headquartered in New Hartford, PAR Technology develops and markets products for hospitality operators including software, hardware, and services. PAR also provides computer-based system design and engineering services to the U.S. Department of Defense and federal-government agencies.

Oneida County Tourism gears up for busy summer season

New York News, Nonprofits, Regional News, Small Business, Sports, Entertainment & Tourism, Subscriber Only

UTICA, N.Y. — After two summers of pandemic-dampened travel, Oneida County Tourism is gearing up for a busy 2022 travel season with a new tourism map, new travel guide, and new website. “We are feeling very positive about the upcoming summer season and even into fall,” says Kelly Blazosky, president of Oneida County Tourism. That

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UTICA, N.Y. — After two summers of pandemic-dampened travel, Oneida County Tourism is gearing up for a busy 2022 travel season with a new tourism map, new travel guide, and new website.

“We are feeling very positive about the upcoming summer season and even into fall,” says Kelly Blazosky, president of Oneida County Tourism. That view is bolstered greatly by the return of traditional regional events such as the Boilermaker 15K race, the National Baseball Hall of Fame and National Boxing Hall of Fame induction ceremonies, and numerous live music events.

“That gives us reason to be positive,” Blazosky notes.

The agency’s new Oneida County tourism map is already being distributed. The new map features a fun cartoon-like design created by Sarah Price at Price Designs in Whitesboro and highlights attractions across the region. It also has a page each devoted to Utica, Rome, and the Sylvan Beach/Verona Beach area.

The new travel guide for the region is also now available. Typically out in February, this year’s edition was plagued by some supply chain issues. Oneida County Tourism worked with the Sentinel Media Company in Rome for printing and design assistance.

While the agency typically orders 50,000 copies, Blazosky says it reduced that number to 25,000 this year, in part to due higher paper costs. A digital download of the brochure is also available on the agency’s website: www.oneidacountytourism.com.

That website also has a fresh new look this year, as well as an overhauled platform on the back end to allow the agency to offer a more dynamic and engaging site.

“We are using our blogging much more heavily,” Blazosky says. The new platform allows the agency to publish blogs right to the website, offering regularly update content.

It’s much easier to keep the site vibrant and keep travelers engaged this way, she says, rather than a static page that never changes.

“It gives us the tools to be able to be more nimble and timely and current,” Blazosky notes. Now they can blog about the Boilermaker, for example, doing things like recommending places to stay or eat for visitors who traveled from out of town for the race.

Oneida County Tourism worked with Quadsimia in Utica on the website overhaul.

Marketing material like the website and travel guide are aimed at potential visitors in a four- to six-hour driving range, which makes up the majority of Oneida County’s visitors.

The region benefited, even during the pandemic, from the wide variety of outdoor offerings, Blazosky says, Even with higher gas prices, she expects the region will see a good number of visitors this summer.

Other draws include New York Craft Beverage Trail, Oneida County’s 28 public golf courses, Turning Stone Resort Casino in Verona, and both the summer arts festival in July and the Norman Rockwell exhibit coming in June to Munson-Williams-Proctor Arts Institute in Utica.

“As we look toward the end of the year with the completion of the Nexus Center, that is opening up a complete new market for us in the sports-tourism industry,” Blazosky says.

Oneida County is part of the eight-county Central New York region of the state’s I Love NY tourism agency. The region — encompassing Oneida, Herkimer, Madison, Otsego, Schoharie, Montgomery, Broome, and Chenango counties — collectively generates a $2.2 billion economic impact.

Guthrie Clinic’s senior leadership now includes chief strategy officer

Employee Benefits & Human Resources, Health Care, New York News, People on the Move, Regional News, Subscriber Only

The Guthrie Clinic has recently added a chief strategy officer, executive VP to its senior-leadership team. In this new role, Elizabeth (Liz) Jaekle will lead strategic planning and implementation, marketing, communications, and philanthropic initiatives across the Guthrie system. She will oversee the development and execution of new business ventures, partner affiliations, market expansions, physician integration, and

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The Guthrie Clinic has recently added a chief strategy officer, executive VP to its senior-leadership team.

In this new role, Elizabeth (Liz) Jaekle will lead strategic planning and implementation, marketing, communications, and philanthropic initiatives across the Guthrie system. She will oversee the development and execution of new business ventures, partner affiliations, market expansions, physician integration, and key service-line strategies.

“I’m thrilled to welcome Liz to Guthrie’s senior leadership team,” Dr. Edmund Sabanegh, president and CEO of the Guthrie Clinic, said. “She is an accomplished leader who brings extensive experience in strategy and business development, joint ventures, and physician and clinical integration. Guthrie is on a transformational journey and Liz is well-positioned to help lead the transition.”

Most recently, Jaekle served as regional president, Mid-Atlantic, for Leawood, Kansas–based ValueHealth, LLC. Prior to that, she was senior vice president, business development at Crozer-Keystone Health System, helping to lead the health system’s “significant” growth and diversification, Guthrie said.

“I am extremely excited to be joining The Guthrie Clinic at a pivotal time in the organization’s growth and transformation. The system is uniquely positioned among integrated delivery systems nationally, with its physician-driven culture, extraordinary care teams and experienced leadership, to meet the evolving and diverse health and wellness needs of the communities it serves,” Jaekle said. “In this new position, I have a rare opportunity to positively impact care delivery, access and health equity for our communities. I’m inspired by Guthrie’s legacy and humbled to have the opportunity to serve the organization in the same transformational way that Dr. Guthrie envisioned over a century ago.”

Headquartered in Sayre, Pennsylvania, the Guthrie Clinic is a five-hospital system with a large network of outpatient facilities that spans nearly 9,000 square miles in Southern Tier of New York and Northern Pennsylvania. That includes locations in Cortland, Homer, Ithaca, Vestal, Owego, and Corning.

Community Bank wraps up Elmira Savings acquisition

Banks & Credit Unions, Construction, Design & Real Estate, Insurance & Financial Services, Regional News, Subscriber Only

DeWITT, N.Y. — The acquisition of Elmira Savings Bank by Community Bank System, Inc. (NYSE: CBU) does more than just add branches to its Community Bank, N.A. unit. The purchase brings a broader and deeper set of services to bank customers, says Mark E. Tryniski, president and CEO of Community Bank System, which is based

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DeWITT, N.Y. — The acquisition of Elmira Savings Bank by Community Bank System, Inc. (NYSE: CBU) does more than just add branches to its Community Bank, N.A. unit.

The purchase brings a broader and deeper set of services to bank customers, says Mark E. Tryniski, president and CEO of Community Bank System, which is based in DeWitt.

“They have a very nice mortgage business,” he says of the Elmira bank. “It makes a lot of sense for us to add a little more scale. They actually offered certain mortgage products that we did not offer.” Those products, including Federal Housing Administration (FHA) loans, combine with Community Bank’s existing mortgage offerings to create a more robust product portfolio, notes Tryniski, who has been Community’s top executive for almost 16 years.

The acquisition, which closed on May 13 in an all-cash deal worth $82.8 million, is about the eighth deal Community Bank System has closed on in the past decade, he says.

“We have always grown through a combination of organic growth and [mergers and acquisitions],” Tryniski adds.

The Elmira Savings Bank deal adds eight branches across a five-county area in Central New York and the Southern Tier and gives Community Bank more than 220 locations, $16.2 billion in assets, and $13.8 billion in deposits.

Despite its now larger size, Community Bank still operates as a community bank, Tryniski contends. That means decision making remains at the local level, allowing customers to form solid relationships with their local branch. “We tell our branch managers, ‘You are the bank president in that town,’ ” he explains.

The Elmira Savings Bank acquisition comes on the heels of Community Bank’s sixth-place ranking in the banking category in Newsweek magazine’s 2022 “America’s Most Trusted Companies” listing.

“That’s pretty good because trust is our product,” Tryniski says. “The entire organization is thrilled by this recognition.” He credits the care and pride of the Community Bank team for serving customers and the community.

Community Bank consolidated a small number of branches, Tryniski notes, and also cut some back-office positions while integrating the Elmira Savings Bank acquisition. He did not specify the number of jobs that were cut. The Elmira–based bank operated 12 branches before its sale to Community Bank.

Along with being given the option to apply for one of the 250 open jobs at Community Bank, the affected employees were also provided severance and outplacement assistance, he adds.

Under the terms of the agreement, Elmira Savings Bank’s shareholders are entitled to receive $23.10 per share in cash for each share of common stock. Computershare Trust Company, N.A. is in the process of mailing the transmittal paperwork to each Elmira Savings Bank shareholder in order to process the merger payment.

Stephens Inc. acted as financial advisor to Community Bank System, and Squire Patton Boggs (US) LLP served as legal advisor. Boenning & Scattergood, Inc. served as financial advisor to Elmira Savings Bank while Vorys, Sater, Seymour and Pease LLP was its legal advisor.

Community Bank System first announced its agreement to purchase Elmira Savings Bank last Oct. 4. Then on April 22 of this year, it announced that is had received regulatory approval from the U.S. Office of the Comptroller of the Currency for the transaction. Community Bank also said it had obtained a waiver from filing an application with the Federal Reserve Bank of New York for the deal.

Community Bank System has locations across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts. The banking company offers financial planning, insurance, and wealth-management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units. The Benefit Plans Administrative Services, Inc. (BPAS) subsidiary provides employee-benefits administration, trust services, collective investment-fund administration, and actuarial-consulting services.

Masonic Lab receives grant for PTSD research

Health Care, Nonprofits, Regional News, Subscriber Only

UTICA, N.Y. — The Battle Within Foundation (BWF) announced a first-round donation to the Masonic Medical Research Institute (MMRI) to better understand the cause and effect of post-traumatic stress disorder (PTSD). MMRI will use this initial contribution toward enabling the expansion of its neurocognitive disorder research. The funds for this donation were collected from tributes

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MMRI will use this initial contribution toward enabling the expansion of its neurocognitive disorder research.

The funds for this donation were collected from tributes made directly to BWF in memory of Joanne Kessler, who passed away in December 2021. She was the wife of Richard J. Kessler, the grand master of the New York State Masons. It was her wish to support this cause for veterans suffering from PTSD.

“As the scope of MMRI’s research on neurocognitive disorders continues to diversify, we will also focus our efforts on better understanding PTSD,” MMRI Executive Director Maria Kontaridis said in a news release. “In collaboration with numerous others in our region who are working tirelessly towards bettering this cause, we hope our efforts will help make a difference in the lives of all those suffering from this devastating disorder.”

PTSD-associated suicide is the leading cause of death among American military members, outranking war, cancer, heart disease, homicide, and transportation accidents.

“We hope our new collaboration with the MMRI can contribute to making an impact for veterans and their ongoing suffering from PTSD,” BWF President Mark Donnelly said.

“We send our very best men and women to defend and protect America,” Kessler said. “Many come back shattered and broken both mentally and physically. America needs to support our veterans proactively. All injuries are debilitating, but the cruelest wounds are those that can’t be seen.”

Founded in 1958 by the Masonic Grand Lodge of New York, MMRI is a biomedical research institute with research largely focused on understanding the mechanisms that cause heart disease, brain functional anomalies, and autoimmune disease.

Buffalo-based The Battle Within Foundation’s mission is to support veterans in crisis, educate the public, and honor veterans for their service. It is a volunteer-run 501(c)(3) charitable organization.

Ask Rusty: About Payroll Tax & Income Tax on Social Security

Business Mentors, Insurance & Financial Services, Subscriber Only

Dear Rusty: Is it possible for you to go over how the Federal withholding tax is computed on Social Security benefits? Signed: Curious Taxpayer Dear Curious: I’m not sure if you’re asking about how FICA (or self-employment) tax on your earnings from work is determined, or if you’re asking about how much income tax to

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Dear Rusty: Is it possible for you to go over how the Federal withholding tax is computed on Social Security benefits?

Signed: Curious Taxpayer

Dear Curious: I’m not sure if you’re asking about how FICA (or self-employment) tax on your earnings from work is determined, or if you’re asking about how much income tax to have withheld from your Social Security benefit, so I’ll address both.

The 7.65 percent FICA tax withheld from your earnings by your employer consists of two elements — 6.2 percent is for Social Security and 1.45 percent is for Medicare Part A. Your employer pays an equivalent amount on your behalf. This is a standard amount that all American workers pay, which — after enough credits are earned — enables you to collect Social Security benefits when you retire and permits you to enroll in Medicare Part A for free when you’re 65.

If you are self-employed, you pay a “self-employment tax” on your net earnings instead of a FICA tax, and you must pay both the employee and employer portion of the tax (15.3 percent). The only exception to this is that certain U.S. states have opted out of participation in the federal Social Security program, thus exempting some state employees from paying the Social Security portion of the FICA tax (they must still pay the Medicare Part A portion). These percentages are set by Congressional legislation and will not change unless Congress enacts future legislation to do so.

Determining how much income tax to have withheld from your Social Security is something best discussed with a qualified tax advisor with access to all your income data. Your recommended tax-withholding rate for income-tax purposes depends upon your overall taxable income level and the tax rate which results from that income (considering your dependents and your tax-filing status (single or married). Having income tax withheld from your Social Security benefit is optional, but if you choose to do so you must submit IRS form W-4V to your local Social Security office. Form W-4V permits you to specify that either 7 percent, 10 percent, 12 percent, or 22 percent of your SS benefit be withheld for income-tax purposes. Here’s a link to IRS form W4-V: https://www.irs.gov/pub/irs-pdf/fw4v.pdf.

The IRS may levy income tax on a portion of your Social Security benefits depending on your combined income from all sources. Your combined income consists of your adjusted gross income (AGI) on your tax return, plus 50 percent of your Social Security (SS) benefits received during the tax year, plus any other non-taxable income you may have had. Tax on your SS benefits is computed at your normal IRS tax rate and based on your tax-filing status.

If you file your income tax as “single” and your combined income from all sources exceeds $25,000, then half (50 percent) of your SS benefits becomes part of your overall taxable income. And if your combined income from all sources as a single filer exceeds $34,000, then up to 85 percent of your SS benefits become taxable income.

If your income-tax filing status is “married-filing jointly” and your combined income is over $32,000, then 50 percent of your Social Security benefits received during the tax year becomes part of your taxable income. If, as a couple filing “married/jointly,” your combined income exceeds $44,000, then up to 85 percent of the SS benefits you received during the tax year becomes part of your overall taxable income.

Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4 million member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.

Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.

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