Month: September 2024

THS Opens Arena And Therapy Space

September 17, 2024

Therapeutic Horses of Saratoga (THS), a leading human service organization dedicated to protecting the mental health and well-being of New York state residents, has announced the opening of its newly constructed indoor arena and group therapy space.

The new arena was constructed with the grant funding awarded to THS through DASNY, New York state’s capital project development authority, through the Nonprofit Infrastructure Capital Investment Program (NICIP).

The 2024 NICIP round was launched by Governor Kathy Hochul to make targeted investments throughout the state that improve the quality, efficiency and accessibility of nonprofit human services organizations like THS and so many others. THS was selected as an awardee in April. Construction of the new arena began mid-June. New Indoor Arena and Group Therapy Space:

Thanks to the NICIP grant funds, Therapeutic Horses of Saratoga has constructed a state-of-the-art indoor arena and group therapy space. This facility will enable the organization to expand its essential services throughout all four seasons, meeting the growing demand for intervention-based equine-assisted psychotherapy programs.

“We are thrilled to unveil our new indoor arena, which represents a significant step forward in our mission to support mental health in our community. With this facility, we can now offer our services year-round, ensuring that more individuals and families can benefit from the healing power of equine-assisted psychotherapy,” said Dr. Erin C. Sisk, founder of Therapeutic Horses of Saratoga

Gala Raises $418,000 For Health Center

September 17, 2024

The 2024 Saratoga Hospital Gala, presented by Bonacio Construction and Julie & Co, Inc., has achieved unprecedented success, raising more than $418,000 in support of the Community Health Center. This remarkable achievement makes the Gala, held on July 31, 2024 at the Polo Meadows at the Saratoga Casino Hotel, the most successful event in recent history for Saratoga Hospital.

The evening was a resounding success, thanks to the dedicated efforts of gala co-chairs Stephanie Collins and Cara Mildé, a committee made up of community leaders, and generous contributions from presenting sponsors and longtime friends of the hospital Sonny and Julie Bonacio, and numerous sponsors. Together, their commitment and support were instrumental in reaching this milestone.

“We are deeply grateful for the overwhelming generosity and support shown by our community,” said Jill VanKuren, CEO of Saratoga Hospital. “These funds will significantly enhance the services and resources available at our Community Health Center, allowing us to better serve those in need.”

VanKuren continued, “Last year, our tremendous team reached more than 23,000 patients. We are committed to expanding our services, reaching even more patients, and ensuring a healthier future for our community – which is possible thanks to the dedication and commitment of our co-chairs, committee, and sponsors.”

“I am filled with gratitude for this outstanding, and incredibly generous, community. Co-chairing the gala is a great honor, and I am overwhelmed with the abundance of support from all who attended and contributed,” said Collins, gala co-chair. “The Community Health Center continues to expand their reach and services year after year. The dedication portrayed by the team of doctors, nurses, and support staff is overwhelmingly inspiring and motivates us as a committee to highlight their work and meet their growing needs.”

Spray Foam Is Considered Excellent Method Of Insulating Homes Against Heat Loss

September 17, 2024

Nick Cuttleback of ASF Insulation provides energy-efficient spray foam solutions for homeowners.
Saratoga Business Journal photo

By Christine Graf

Saratoga Springs-based ASF Insulation has been meeting the insulation needs of Capital Region customers for more than a decade. The company is owned by business partners Nick Cuttleback, Tom Samascott, and Wayne Samascott.

“We started as a spray foam insulator only, and within the first year or two, we adapted to become an insulation contractor,” said Cuttleback. “We began offering traditional fiberglass batting, cellulose, and other products. We expanded into the insulation contractor markets and took off from there.”

On the spray foam side of the business, the company provides spray polyurethane foam insulation for residential and commercial applications. Applied in liquid form, once applied, the foam expands and hardens to form a rigid layer of insulation. It is particularly effective at filling spaces that are irregularly shaped as well as small gaps, holes, and cracks. As much as 40 percent of a home’s energy is lost when air escapes through uninsulated gaps, holes, and cracks. The North American Insulation Manufacturers Association estimates that 90 percent of U.S. homes are under-insulated.

Water-Efficient Plumbing Fixtures Can Help Homeowners Conserve A Valuable Resource

September 17, 2024

Lance Plumbing will celebrate 20 years of service, helping homeowners reduce water usage and save money.
Courtesy Lance Plumbing

By Chris Graf

As water conservation becomes increasingly important nationwide, homeowners are turning to innovative plumbing fixtures to reduce their water bills and environmental footprint. While these water-saving solutions may not yet be a widespread trend in some regions, they are rapidly becoming the norm in drought-prone areas.

“They aren’t really a big thing around here,” said Roy Lance, owner of Lance Plumbing in Saratoga. A Master Plumber, Lance will celebrate his company’s 20th anniversary in January. His team of four serves both residential and commercial customers throughout the region. Despite the slower adoption locally, Lance believes more homeowners could benefit from water-efficient upgrades.

One of the simplest ways to reduce water usage is by installing low-flow shower heads. While traditional shower heads use about 2.5 gallons per minute, low-flow models can reduce water consumption by up to 40%. According to the Environmental Protection Agency (EPA), this could save the average homeowner as much as $100 a year on water bills.

Ongoing Advances In Efficiency Of Windows Provide More Comfort And Energy Savings

September 17, 2024

By Susan Elise Campbell

As window manufacturers make strides in energy efficiency, consumers may find that even though it costs more to purchase the higher Energy Star® standard, the benefits of the investment are worth it. These may include the comfort they feel in their home or business, long-term savings on heating and air-conditioning, and protection of the environment, according to www.energystar.gov.

Ian Young is director of commercial sales for Curtis Lumber Company. While he works out of the Ballston Spa location at 885 Route 67, he oversees the commercial sales process for the company’s 21 stores in New York and the two in Vermont. Along with the company’s on-staff architectural engineer, he advises commercial builders on the best choices for windows, doors and skylights for their projects.

Young explained what makes newer windows increasingly energy efficient.

“It comes down to the glass as well as some modifications to the window frame,” said Young.

Renewable Energy And Economic Development Are Key Elements Of A Recent NYS Summit

September 17, 2024

At the Future Energy Economy Summit held recently in Syracuse, Governor Kathy Hochul called for advanced clean energy technologies to play a key role in supporting renewable energy and economic development. The summit outlined next steps needed to plan for growing energy demand that can support the state’s commitment to accelerate progress toward a zero-emission electricity system.

“New York is building a clean energy economy that fosters growth, ingenuity and taps into technologies that will reduce our carbon footprint,” Governor Hochul said. “From creating the most successful offshore wind industry in the country to our investments in a sustainable electric grid, we are committed to being a national leader in protecting our climate – and we won’t stop until we’ve created the best possible future for our children.”

Three takeaways from the summit include the need to prioritize continued focus on building New York’s renewable energy grid to realize the health, environmental and economic benefits resources like wind and solar provide; to bring new attention to technology research, market development and commercial demonstration of new and existing dispatchable emissions-free resources to support a reliable, resilient and affordable renewable grid for the state’s expanding economy; and to identify, leverage and maximize the potential federal funding opportunities, offered by the administration, and policy development proposals to further support economy growth strategies.

Using insights gained during the summit, the state will engage the industry to undertake the following next steps:

Business Report: Life Insurance for Wealth Transfer

September 17, 2024

David Kopyc, president of Retirement Planning Group LLC in Saratoga Springs.

By David Kopyc

The Baby Boomer generation will pass on an estimated 80-plus trillion dollars of wealth to their family, and this will be the largest wealth transfer in the history of mankind. There are certain types of financial assets that are very complicated to be passed on to the next generation and this article will focus on one in particular – qualified assets (IRA, 401(k).

Qualified assets are estimated to be around $20 trillion of wealth. As I write this article, a vast sum of the money will be 100 percent taxable as ordinary income and never receive a step up in basis at death. These monies have a huge tax obligation sent down to your heirs to pay the tax bill that you left behind.

Previously, financial advisors had the ability to do a stretch IRA, to spread these payments out for decades, but the government discontinued the stretch IRA and now non-spouse beneficiaries have 10 years to have 100 percent of the inherited IRA paid out. That leads me to ask you a question…Do you want to leave a tax liability or do you wish to leave a tax-free benefit for your legacy?

Deciding on that answer can lead you to consider purchasing a life insurance policy to pass some of your qualified assets tax-free to your loved ones. This option does not have to be all or none. At the Retirement Planning Group, we usually do a carve out, with a portion of the qualified assets to be spent down to purchase a life insurance policy. Some of these policies can be paid for over a 10-year, 20-year, or lifetime payout. Depending on your other assets and the size of your estate, you might even have the ability to do a one-time payment.

Cyber Insurance Is Increasingly Important To Protect Against Information Losses

September 17, 2024

Marshall + Sterling’s Ken Grey and Lorraine Emerick are experts at preventing cyber crime.
Saratoga Business Journal photo.

By Susan Elise Campbell

Cyber crime is rising so rapidly that businesses without specific cyber insurance are at risk for tens to hundreds of thousands of dollars of loss and even more, according to Ken Grey, a senior vice president with Marshall+Sterling in Saratoga.

“It’s not a matter of if, but when, your business will need to make a cyber claim,” he said.

Grey said that in an ideal world, 100 percent of his clients would have not just standard cyber coverage under their general business insurance, but a specific and separate policy to cover the growing number of claims. He believes this coverage is so important that if a client refuses to get coverage, he asks them to sign a document.

“The reason for this is not to say ‘I told you so’ if they are later a victim of cyber crime, but to get them to think about the decision they are making,” he said.

Some sources like statista.com say that nearly 75 percent of all U.S. companies were at risk of being cyber-attacked last year. In 2022 there were 480,000 such attacks.

“Everyone has heard about the data breaches at AT&T and Ticketmaster,” said Lorraine Emerick, a senior vice president at Marshall+Sterling. “With a smaller business, the owner often thinks, ‘it won’t happen to me.’”

But it does. In the Capital Region predominant targets are middle market, medium sized companies, often because the attackers assume they do not have the staff or the time to “keep all the guards and fortresses in place” to protect themselves, noted Grey.

“Cyber criminals may not be seeking a $25 million ransom, but they’re looking for something,” Emerick said.

Business Report: Bridging The Generational Divide: Strategies For A Cohesive Workforce

September 17, 2024

Rene A. Walrath is the president of Walrath Recruiting Inc.
Courtesy Walrath Recruiting Inc.

By Renee Walrath

Have you ever had an office lunch, enjoying the conversations around you, while not having a clue what your coworkers are talking about? This is more than likely caused by the generational shift in our workforce. 2024 marks a landmark year where four generations are in the workforce simultaneously, what is more, baby boomers will become outnumbered by millennials and Gen Z. What does that mean for companies moving forward? Quite simply, businesses need to start embracing change and evolving with the workforce. This article explores these generational differences and strategies for a cohesive workforce.

What best motivates workers from each generation?

Baby Boomers – make up 25% of the workforce – are generally motivated by duty and company loyalty. They are often described as workaholics, with their professional achievements defining them. Gen X – makes up 33% of the workforce – often defined as the work hard, play hard generation. They prioritize their personal or professional interests over their companies, working to live not living to work. Millennials currently make up the majority of the workforce at 35%. They are often considered job hoppers of the generations because they have no problem leaving a role that does not align with their values. Gen Z – make up 5% of the workforce – is often seen as the lazy generation because they do not want their job to be what defines them. Both Millennials and Gen Z are motivated by diversity & inclusion, and seek companies aligned with their values, generally having the least regard for salary.

How does each generation approach their work style?

Different generations have different methods of getting the job done. Boomers are very career-centric and goal-oriented. They derive from the mindset that working long hours is how to get ahead. On the other hand, Gen X and Millennials strive for a better work-life balance. Both generations seek more flexibility and remote or hybrid options. Gen Z is more entrepreneurial and emphasizes the expression of individuality and creativity.

Building On Last Year’s Momentum, Adirondack Thunder Coaches Are Confident Of Strong Year

September 17, 2024

Veteran forward Ryan Smith will once again contribute significantly to the scoring tally when the Adirondack Thunder take to the ice for their 2024-2025 season.
Photo by Andy Camp

By Paul Post

The Adirondack Thunder captured the ECHL’s North Division and Eastern Conference championships last year with a franchise record 97 points.

They also drew an all-time high 4,239 fans per game including 16 sell-out crowds, and their extended six-week playoff run saw gross revenues reach $4 million.

Profits have been invested in both on- and off-ice improvements to make the fan experience even better as the Thunder set their sights on bringing a Kelly Cup championship home to Glens Falls next spring.

“The arena and team had their best year ever, which is real exciting as we head toward 2024-25,” said Jeff Mead, Thunder and Cool Insuring Arena general manager. “When this team started 10 years ago we sold 550 season tickets. Last year it was just north of 1,600 and we expect to be over 2,000 this season. So we’re pretty excited about where we are as an organization.”