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Nonprofiteer
← UNIVERSITY AT BUFFALO FOUNDATION INC

Form 990 for tax year 2022

Filed by UNIVERSITY AT BUFFALO FOUNDATION INC.

Totals

Total revenue
$82,759,030
Total expenses
$77,927,154
Contributions and grants received
$47,003,028
Grants paid
$68,487,334
Program service revenue
$20,149
Investment income
$35,735,853
Other revenue
$0
Total assets, end of year
$1,367,532,436
Total liabilities, end of year
$244,439,623
Net assets or fund balances, end of year
$1,123,092,813
Program services expenses (Part IX)
$77,887,279
Management and general expenses
$39,875
Fundraising expenses
$0
Program service expenses (Part III)
$77,887,279

Program services were 99.9% 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.

  • 1d · Related organizations

    $285,180

  • 1f · All other contributions, gifts and grants

    $46,717,848

  • 1g · Noncash contributions included above

    $3,292,199

  • 2a · Program service revenue: VARIOUS SUPPORT PROGRAMS

    total $20,149 · related or exempt $20,149

  • 3 · Investment income

    total $17,731,485 · unrelated business $684,290 · excluded $17,047,195

  • 7a · Gross sales of assets other than inventory

    securities $270,256,795

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

    securities $251,095,127 · other assets $1,157,300

  • 7c · Gain or loss

    securities $19,161,668 · other assets -$1,157,300

  • 7d · Net gain or loss

    total $18,004,368 · related or exempt $17,787,842 · unrelated business $216,526

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $68,487,334 · program services $68,487,334

  • 11f · Fees: investment management

    total $7,446,587 · program services $7,446,587

  • 13 · Office expenses

    total $39,875 · management and general $39,875

  • 24a · Other expenses: UNIVERSITY SUPPORT

    total $1,953,358 · program services $1,953,358

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $401,480 · end of year $1,335,820

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $45,321,241 · end of year $53,680,796

  • 4 · Accounts receivable

    beginning of year $359,242 · end of year $332,273

  • 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 $3,031,634 · end of year $42,734,930

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $10,067,310

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

    $10,067,310

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $947,652,901 · end of year $1,022,190,740

  • 12 · Investments: other securities

    beginning of year $219,572,315 · end of year $230,346,249

  • 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 $17,811,127 · end of year $16,911,628

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,478 · end of year $22,448

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $3,791,604 · end of year $4,134,187

  • 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 $191,168,065 · end of year $240,282,988

  • 27 · Net assets without donor restrictions

    beginning of year $195,900,619 · end of year $214,367,876

  • 28 · Net assets with donor restrictions

    beginning of year $843,263,174 · end of year $908,724,937

Mission and programs · 2022

Mission

THE MISSION OF THE UNIVERSITY AT BUFFALO FOUNDATION, INC. IS TO SUPPORT AND PROMOTE THE ACTIVITIES AND PROGRAMS OF THE UNIVERSITY AT BUFFALO, STATE UNIVERSITY OF NEW YORK.

  • SUPPORT FUNDS MADE AVAILABLE TO A UNIVERSITY AT BUFFALO FOUNDATION, INC. AFFILIATE TO FURTHER THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. THESE FUNDS ARE THE RESULT OF GIFT REVENUES AND SPENDABLE AMOUNTS GENERATED THROUGH THE INVESTMENT OF THE LONG-TERM PORTFOLIO. THE FUNDS ARE ADMINISTERED SUBJECT TO DONOR RESTRICTIONS AND THE UNIVERSITY'S NEEDS.

    Expenses $68,487,334 · Grants $68,487,334 · Revenue $20,149

  • INVESTMENTS ARE MANAGED UNDER THE SUPERVISION OF UBF'S BOARD INVESTMENT COMMITTEE. MORE THAN FIFTY-FIVE PROFESSIONAL INVESTMENT MANAGERS CURRENTLY SHARE IN THE ADMINISTRATION OF THE PORTFOLIO, WITH PERFORMANCE MONITORED BY THE TRUSTEES. INCLUDED IN THIS TOTAL ARE CERTAIN INVESTMENTS, KNOWN AS THE LONG-TERM PORTFOLIO AS WELL AS OTHER SMALLER INVESTMENT POOLS HAVING A MARKET VALUE OF $1,252,536,989 AT JUNE 30, 2023, THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO.

    Expenses $7,446,587 · Revenue $17,787,842

  • UBF PROVIDED ADVICE AND COUNSEL REGARDING PHILANTHROPY AND FUNDRAISING, AND PROCESSED AND MANAGED GIFT REVENUES ON BEHALF OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO TO SUPPORT THE EDUCATION MISSION OF THE UNIVERSITY.

    Expenses $1,953,358

As filed on the 2022 return.

Listed in Part VII

  • MASON ASHE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TERESA BAIR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GREGORY BAUER

    CHAIR/TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JASON BIRD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HELEN CAPPUCCINO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ROBERT DENNING

    TREASURER/TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • GREGG FISHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CLAUDIA FOSKET

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • DANIEL HAMISTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • LOUIS JACOBS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DALE MCKIM III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KATHIE KELLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JAMES PALMISCIANO

    TRUSTEE (AS OF 07/01/22)

    Total calculated
    $0
    Hours/week
    1

  • DAVID PFALZGRAF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JEAN POWERS

    SECRETARY/TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • THOMAS QUEALY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NAGENDRA RAINA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • MURRAY ROSENTHAL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVEN SHEPSMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • EILEEN SILVERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DANIEL SPERRAZZA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SATISH TRIPATHI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUJATA YALAMANCHILI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANASTACIA KNAPPER

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $438,021
    From this org
    $0
    From related orgs
    $373,671
    Other
    $64,350
    Hours/week
    20 + 40 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
    20 + 40 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 3
COMPENSATION UNIVERSITY AT BUFFALO FOUNDATION, INC. 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 OF 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER ANNUITY TRUST (2)

    T · EDUCATION · NY · controlled entity

  • CHARITABLE REMAINDER UNITRUST (15)

    T · EDUCATION · NY · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202421349349308857

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