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Nonprofiteer
← BUFFALO STATE COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by BUFFALO STATE COLLEGE FOUNDATION INC.

Totals

Total revenue
$14,177,380
Total expenses
$5,493,050
Contributions and grants received
$10,561,791
Grants paid
$2,571,060
Program service revenue
$0
Investment income
$2,977,053
Other revenue
$638,536
Total assets, end of year
$115,563,163
Total liabilities, end of year
$2,449,558
Net assets or fund balances, end of year
$113,113,605
Program services expenses (Part IX)
$4,858,947
Management and general expenses
$249,672
Fundraising expenses
$384,431
Program service expenses (Part III)
$4,858,947

Program services were 88.5% 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.

  • 1c · Fundraising events

    $127,112

  • 1f · All other contributions, gifts and grants

    $10,434,679

  • 1g · Noncash contributions included above

    $71,594

  • 3 · Investment income

    total $1,652,682 · excluded $1,652,682

  • 7a · Gross sales of assets other than inventory

    securities $12,559,004

  • 7b · Less cost or other basis and sales expenses

    securities $11,234,633

  • 7c · Gain or loss

    securities $1,324,371

  • 7d · Net gain or loss

    total $1,324,371 · excluded $1,324,371

  • 8a · Fundraising events: gross income

    $84,742

  • 8a · Fundraising events: contributions included on line 1c

    $127,112

  • 8b · Fundraising events: direct expenses

    $166,963

  • 8c · Net income from fundraising events

    total -$82,221 · excluded -$82,221

  • 11a · Other revenue: CONTRACT REVENUE

    total $602,406 · excluded $602,406

  • 11b · Other revenue: AGENCY FEES

    total $37,617 · excluded $37,617

  • 11c · Other revenue: PASS-THRU FROM K-1S

    total $26,122 · unrelated business $26,122

  • 11d · All other revenue

    total $54,612 · related or exempt $54,612

  • 11e · Other revenue, total

    $720,757

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,571,060 · program services $2,571,060

  • 7 · Other salaries and wages

    total $49,130 · program services $49,130

  • 9 · Other employee benefits

    total $104 · program services $104

  • 10 · Payroll taxes

    total $4,776 · program services $4,776

  • 11b · Fees: legal

    total $38,541 · management and general $38,541

  • 11e · Fees: professional fundraising services

    total $101,493 · fundraising $101,493

  • 11f · Fees: investment management

    total $121,678 · management and general $121,678

  • 11g · Fees: other

    total $311,456 · program services $219,887 · management and general $28,845 · fundraising $62,724

  • 12 · Advertising and promotion

    total $236,894 · program services $236,894

  • 13 · Office expenses

    total $322,687 · program services $307,028 · management and general $764 · fundraising $14,895

  • 17 · Travel

    total $198,577 · program services $179,494 · fundraising $19,083

  • 19 · Conferences, conventions and meetings

    total $26,112 · program services $24,587 · management and general $1,525

  • 23 · Insurance

    total $20,058 · program services $915 · management and general $19,143

  • 24a · Other expenses: CAPITAL EXPENSE - ALUMN

    total $397,836 · program services $397,836

  • 24b · Other expenses: EQUIPMENT AND RENTALS

    total $284,108 · program services $235,076 · management and general $6,449 · fundraising $42,583

  • 24c · Other expenses: MEALS AND REFRESHMENTS

    total $262,719 · program services $262,719

  • 24d · Other expenses: SUBSCRIPTIONS, DUES AND

    total $86,720 · program services $85,195 · fundraising $1,525

  • 24e · All other expenses

    total $459,101 · program services $284,246 · management and general $32,727 · fundraising $142,128

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $518,578 · end of year $1,432,323

  • 2 · Savings and temporary cash investments

    beginning of year $5,330,583 · end of year $4,684,190

  • 3 · Pledges and grants receivable

    beginning of year $10,934,517 · end of year $10,705,432

  • 4 · Accounts receivable

    beginning of year $142,229 · end of year $180,166

  • 7 · Other notes and loans receivable

    beginning of year $242,305 · end of year $547,012

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,534 · end of year $28,810

  • 12 · Investments: other securities

    beginning of year $81,532,488 · end of year $94,977,812

  • 15 · Other assets

    beginning of year $2,967,831 · end of year $3,007,418

  • 17 · Accounts payable and accrued expenses

    beginning of year $806,167 · end of year $374,732

  • 25 · Other liabilities

    beginning of year $2,104,857 · end of year $2,074,826

  • 27 · Net assets without donor restrictions

    beginning of year $15,710,321 · end of year $23,797,999

  • 28 · Net assets with donor restrictions

    beginning of year $83,060,720 · end of year $89,315,606

Mission and programs · 2023

Mission

TO ADVANCE THE WELFARE AND DEVELOPMENT OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO STATE UNIVERSITY (THE UNIVERSITY) AND TO SUPPORT ITS GOALS OF EXCELLENCE IN TEACHING AND SCHOLARSHIP, CULTURAL ENRICHMENT AND SERVICE. THE FOUNDATION FURTHERS ITS MISSION BY FOSTERING PRIVATE SECTOR PARTICIPATION IN THE UNIVERSITY'S ENDEAVORS, PARTICULARLY IN THE AREAS OF PHILANTHROPY AND FUNDRAISING, AND BY PROVIDING VARIOUS SUPPORT SERVICES TO THE UNIVERSITY.

Activities or mission (Part I)

TO PROVIDE SUPPORT SERVICES TO THE STATE UNIVERSITY OF NEW YORK AT BUFFALO STATE UNIVERSITY AND ITS STUDENTS.

  • PROVIDING FINANCIAL ASSISTANCE TO THE UNIVERSITY AND ITS AFFILIATED ORGANIZATIONS, FACULTY, STAFF AND STUDENTS, INCLUDING, BUT NOT LIMITED TO, SCHOLARSHIPS, FELLOWSHIPS, AND LOANS TO STUDENTS; SUPPORTING RESEARCH PROGRAMS, CONFERENCES, SEMINARS, ART EXHIBITIONS AND CULTURAL EVENTS, ACQUIRING EQUIPMENT FOR EDUCATIONAL AND RESEARCH PROJECTS, LIBRARY HOLDINGS, ART-RELATED AND LITERARY COLLECTIONS, ACADEMIC CHAIRS, ATHLETIC PROGRAMS, THE BUFFALO STATE COLLEGE ALUMNI ASSOCIATION, COLLEGE-COMMUNITY PROGRAMS, FACULTY AND STAFF TRAVEL, COLLEGE-RELATED PUBLICATIONS, CAMPUS BEAUTIFICATION; AND PROVIDING EXPENSE FUNDS FOR UNIVERSITY OFFICIALS.

    Expenses $4,858,947 · Grants $2,571,060

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Judy L Elliott

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tracy A Sawicki

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Nancy L Cox

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • James J Rehak

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • James M Finnerty

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • C Teo Balbach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Michael Bonitatibus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • James Brandys

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jody E Briandi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert W Christmann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bonita R Durand

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anitina Fareed-Cooke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kara Handzlik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeremy C Hudson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • James E Iglewski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Robert J Lamendola

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacy Lewis Beauford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James P Lombardo Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anthony Nanula

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Angela Nicotera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas T O'Brien

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Gene Alexander Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel O Proto

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Raquel Schmidt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Celestine A Simmons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenneth J Sodaro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Taggart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Benjamin M Zuffranieri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202511359349314081

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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