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Nonprofiteer
← UBF FACULTY-STUDENT HOUSING CORP

Form 990 for tax year 2022

Filed by UBF FACULTY-STUDENT HOUSING CORP.

Totals

Total revenue
$33,426,350
Total expenses
$20,115,432
Contributions and grants received
$6,000,000
Grants paid
$740,000
Program service revenue
$27,597,980
Investment income
-$171,630
Other revenue
$0
Total assets, end of year
$142,553,536
Total liabilities, end of year
$103,774,601
Net assets or fund balances, end of year
$38,778,935
Program services expenses (Part IX)
$20,115,432
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$20,115,432

Program services were 100.0% 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.

  • 1e · Government grants (contributions)

    $6,000,000

  • 2a · Program service revenue: HOUSING PROGRAM

    total $27,597,980 · related or exempt $27,597,980

  • 3 · Investment income

    total $209,771 · excluded $209,771

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

    other assets $381,401

  • 7c · Gain or loss

    other assets -$381,401

  • 7d · Net gain or loss

    total -$381,401 · excluded -$381,401

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $740,000 · program services $740,000

  • 11a · Fees: management

    total $5,182,085 · program services $5,182,085

  • 11c · Fees: accounting

    total $14,250 · program services $14,250

  • 11g · Fees: other

    total $81,885 · program services $81,885

  • 13 · Office expenses

    total $17,914 · program services $17,914

  • 14 · Information technology

    total $55,827 · program services $55,827

  • 16 · Occupancy

    total $8,195,576 · program services $8,195,576

  • 22 · Depreciation, depletion and amortization

    total $5,571,937 · program services $5,571,937

  • 24a · Other expenses: OTHER EXPENSES

    total $100,296 · program services $100,296

  • 24b · Other expenses: FIRE & SAFETY

    total $94,422 · program services $94,422

  • 24c · Other expenses: BANK AND INVESTMENT FEE

    total $38,650 · program services $38,650

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $22,590 · program services $22,590

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $41,982,513 · end of year $51,084,519

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $624,966 · end of year $2,241,747

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $424,282 · end of year $439,330

  • 10a · Land, buildings and equipment: cost or other basis

    $178,955,894

  • 10b · Land, buildings and equipment: accumulated depreciation

    $90,167,954

  • 10c · Land, buildings and equipment, net

    beginning of year $91,824,248 · end of year $88,787,940

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,195,207 · end of year $3,119,536

  • 18 · Grants payable

    beginning of year $731,791 · end of year $0

  • 19 · Deferred revenue

    beginning of year $350,775 · end of year $436,774

  • 20 · Tax-exempt bond liabilities

    beginning of year $102,824,905 · end of year $97,932,977

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,442,201 · end of year $2,285,314

  • 27 · Net assets without donor restrictions

    beginning of year $24,311,130 · end of year $38,778,935

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO SUPPORT THE EDUCATIONAL PURPOSES OF THE UNIVERSITY AT BUFFALO AND TO LESSEN THE BURDEN OF GOVERNMENT BY ACQUIRING, CONSTRUCTING, RENOVATING AND MAINTAINING RESIDENTIAL FACILITIES FOR STUDENTS AND FACULTY.

Activities or mission (Part I)

TO SUPPORT THE EDUCATIONAL PURPOSES OF THE UNIVERSITY AT BUFFALO AND TO LESSEN THE BURDEN OF GOVERNMENT BY ACQUIRING, CONSTRUCTING, RENOVATING, AND MAINTAINING RESIDENTIAL FACILITIES FOR STUDENTS AND FACULTY.

  • THE ORGANIZATION CONSTRUCTS AND OPERATES HOUSING FOR STUDENTS OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. ADEQUATE, AFFORDABLE HOUSING IS A NECESSARY COMPONENT IN FULFILLING THE EDUCATIONAL PURPOSE OF THE UNIVERSITY.

    Expenses $20,115,432 · Grants $740,000 · Revenue $27,597,980

As filed on the 2022 return.

Listed in Part VII

  • Sheldon Berlow

    DIRECTOR (UNTIL 01/12/23)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • David Chiazza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Claudia D Fosket

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Daniel M Hamister

    DIRECTOR/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jean Powers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Ronald Schreiber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Danielle Shainbrown

    DIRECTOR (AS OF 07/01/22)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Steven H Shepsman

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Sujata Yalamanchili

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Anastacia Knapper

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $438,021
    From this org
    $0
    From related orgs
    $373,671
    Other
    $64,350
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $338,671 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $42,661 related
    Nontaxable benefits
    $0 + $21,689 related
    Filer's total
    $0 + $438,021 related

  • Patrick Richey

    CHIEF FINANCIAL OFF (AS OF 12/12/22)

    Total calculated
    $0
    Hours/week
    1 + 55 related

  • Edward Schneider

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $252,969
    From this org
    $0
    From related orgs
    $252,969
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $252,969 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $252,969 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
COMPENSATION UBF FACULTY-STUDENT HOUSING CORP. DOES NOT COMPENSATE ANY OFFICERS, DIRECTORS, OR KEY EMPLOYEES. CERTAIN INDIVIDUALS RECEIVED COMPENSATION FROM A RELATED ORGANIZATION AND THE PROCESS OF DETERMINING COMPENSATION IS CONDUCTED AT THE RELATED ORGANIZATION'S LEVEL, USING A COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants 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
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202431349349307508

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