Form 990 for tax year 2022
Filed by BUFFALO STATE COLLEGE FOUNDATION HOUSING CORPORATION.
Totals
- Total revenue
- $5,384,475
- Total expenses
- $3,629,193
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $5,269,982
- Investment income
- $75,811
- Other revenue
- $38,682
- Total assets, end of year
- $40,664,494
- Total liabilities, end of year
- $36,725,170
- Net assets or fund balances, end of year
- $3,939,324
- Program services expenses (Part IX)
- $3,354,955
- Management and general expenses
- $274,238
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,354,955
Program services were 92.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: STUDENT HOUSING
total $5,269,982 · related or exempt $5,269,982
-
3 · Investment income
total $307,917 · excluded $307,917
-
7a · Gross sales of assets other than inventory
securities $530,000
-
7b · Less cost or other basis and sales expenses
securities $762,106
-
7c · Gain or loss
securities -$232,106
-
7d · Net gain or loss
total -$232,106 · excluded -$232,106
-
11d · All other revenue
total $38,682 · related or exempt $38,682
-
11e · Other revenue, total
$38,682
Functional expenses
Part IX, the statement of functional expenses.
-
11f · Fees: investment management
total $24,381 · management and general $24,381
-
11g · Fees: other
total $56,985 · program services $47,485 · management and general $9,500
-
13 · Office expenses
total $6,727 · program services $6,727
-
16 · Occupancy
total $393,931 · program services $393,931
-
20 · Interest
total $1,145,626 · program services $1,145,626
-
22 · Depreciation, depletion and amortization
total $1,172,747 · program services $1,172,747
-
23 · Insurance
total $142,355 · management and general $142,355
-
24a · Other expenses: CONTRACTED SERVICES
total $459,081 · program services $361,079 · management and general $98,002
-
24b · Other expenses: BAD DEBTS
total $131,507 · program services $131,507
-
24c · Other expenses: SUPPLIES & MATERIALS
total $73,803 · program services $73,803
-
24d · Other expenses: REPAIRS AND RENOVATIONS
total $19,885 · program services $19,885
-
24e · All other expenses
total $2,165 · program services $2,165
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,595,233 · end of year $1,984,830
-
4 · Accounts receivable
beginning of year $507,671 · end of year $620,180
-
9 · Prepaid expenses and deferred charges
beginning of year $116,857 · end of year $131,615
-
10a · Land, buildings and equipment: cost or other basis
$42,806,402
-
10b · Land, buildings and equipment: accumulated depreciation
$12,748,831
-
10c · Land, buildings and equipment, net
beginning of year $31,133,831 · end of year $30,057,571
-
11 · Investments: publicly traded securities
beginning of year $7,253,169 · end of year $1,577,289
-
12 · Investments: other securities
end of year $6,293,009
-
17 · Accounts payable and accrued expenses
beginning of year $313,257 · end of year $324,233
-
23 · Secured mortgages and notes payable
beginning of year $37,299,411 · end of year $35,880,691
-
25 · Other liabilities
beginning of year $905,838 · end of year $520,246
-
27 · Net assets without donor restrictions
beginning of year $2,088,255 · end of year $3,939,324
Mission and programs · 2022
Mission
ESTABLISHED FOR THE PROVISION AND MAINTENANCE OF RESIDENTIAL FACILITIES FOR STUDENTS AND FACULTY AT BUFFALO STATE UNIVERSITY.
Activities or mission (Part I)
CONSTRUCT AND OPERATE A STUDENT-HOUSING COMPLEX SERVING BUFFALO STATE UNIVERSITY.
-
CONSTRUCT AND OPERATE RESIDENTIAL STUDENT-HOUSING. THE HOUSING CONSISTS OF A 224,000 SQUARE FOOT, SEVEN-STORY COMPLEX CONSISTING OF 507 BEDS, TO SERVE THE STUDENTS OF BUFFALO STATE UNIVERSITY.
Expenses $3,354,955 · Revenue $5,308,664
As filed on the 2022 return.
Listed in Part VII
-
Nicholas SinatraNICHOLAS SINATRA
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Michael BonitatibusMICHAEL BONITATIBUS
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Richard J TrigilioRICHARD J TRIGILIO
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
C Teo BalbachC TEO BALBACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Laura J BarnumLAURA J BARNUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
James M FinnertyJAMES M FINNERTY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Dr Timothy W GordonDR TIMOTHY W GORDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeremy C HudsonJEREMY C HUDSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
BUFFALO STATE COLLEGE FOUNDATION INC
501(C)(3) · PROMOTE ADVANCEMENT IN EDUCATION · NY
-
STATE UNIVERSITY OF NEW YORK COLLEGE AT BUFFALO
GOVT · SCHOOL · NY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 29 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401079349300520
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