2025-05-09T08:57:11-05:00 2024-06-30 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990 2023-07-01 364619281 UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION UNIV 5184375090 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 RICHARD MCGINN JR EXECUTIVE DIRECTOR 5184375090 2025-05-07 1 1 GRACE GONZALEZ P01357170 5853811000 2025-05-07 2023 2025-03-06 01:10:19Z RICHARD MCGINN JR 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 6612898 0 X WWW.UABDC.ORG X 2007 NY SEE SCHEDULE O 8 6 0 6 0 0 230741 309685 6363577 6091570 121768 211643 9326 0 6725412 6612898 0 0 0 0 0 0 0 0 0 8113665 7862193 8113665 7862193 -1388253 -1249295 40703048 39269548 1882892 1698687 38820156 37570861 X THE PURPOSE OF THE CORPORATION IS TO ACQUIRE REAL PROPERTY AND HOLD TITLE TO SUCH PROPERTY FOR THE PURPOSE OF CREATING A COMMERCIAL LIFE SCIENCE, RESEARCH, AND TECHNOLOGY CLUSTER IN AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP AND RESEARCH CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY. THE LAWFUL PUBLIC OR QUASI-PUBLIC OBJECTIVE WHICH EACH OF THE FOREGOING PURPOSES WILL ACHIEVE SHALL BE TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY BY ACQUIRING AND HOLDING TITLE TO FACILITIES IN WHICH SCIENCE RESEARCH AND SCHOLARLY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES. 0 0 REAL ESTATE RENTAL INCOME - ACQUIRE, HOLD AND DEVELOP REAL PROPERTY IN WHICH SCIENCE RESEARCH AND SCHOLARY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE UNIVERSITY AT ALBANY AND SUNY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X RICHARD MCGINN JR 5184375090 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 FARDIN SANAI SECRETARY 1.00 5.00 X X 0 18120 0 EDWARD SWYER PRESIDENT 1.00 1.00 X X 0 0 0 GEORGE HEARST VICE PRESIDENT 1.00 1.00 X X 0 0 0 JEFFREY BLACK TREASURER 1.00 1.00 X X 0 0 0 TODD FOREMAN DIRECTOR 1.00 1.00 X 0 0 0 AMY KNAPP DIRECTOR 1.00 1.00 X 0 0 0 HAVIDAN RODRIGUEZ DIRECTOR 1.00 1.00 X 0 0 0 BRIAN STRAUGHTER DIRECTOR 1.00 1.00 X 0 0 0 RICHARD MCGINN JR EXECUTIVE DIRECTOR 13.13 24.37 X 0 227731 24694 0 245851 24694 0 0 1 0 ARAMARK FACILITY SERVICES CORP 1101 MARKET ST PHILADELPHIA PA 19107 FACILITY MANAGEMENT 3201377 THE UNIVERSITY AT ALBANY FOUNDATION 1400 WASHINGTON AVE UAB 226 ALBANY NY 12222 MANAGEMENT SERVICES 426269 INTEGRALED LLC 14 HEMLOCK ST LATHAM NY 12110 CAPITAL PROJECT 108568 3 309685 309685 RENTAL INCOME 531120 6091570 6091570 6091570 211643 211643 6612898 6091570 0 211643 X 386469 2645 1863215 9869 544 2942 3466278 157030 UTILITIES 1164309 REPAIRS & MAINTENCE 488281 REAL ESTATE TAXES 320101 BANK CHARGES 510 7862193 4850572 5042028 377932 687617 62411 32892 184936 190659 90688415 57454640 35154999 33233775 72198 82577 40703048 39269548 512631 558337 255860 0 1114401 1140350 1882892 1698687 X 38820156 37570861 38820156 37570861 40703048 39269548 -1249295 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1345968 1345968 88416581 56539452 31877129 925866 915188 10678 33233775 ASSET RETIREMENT OBLIGATION 1140350 1140350 X 69339408 62726510 62726510 6612898 0 6612898 20079391 12603667 12603667 7475724 386469 386469 7862193 PART X, LINE 2: THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. CHANGES IN RECOGNITION IN MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION BELIEVES IT HAS TAKEN NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2024 OR 2023. (CONSOLIDATED FINANCIAL STATEMENTS) PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED ENTITY ACTIVITY - UNIV AT ALBANY FOUNDATION 62,726,510. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED ENTITY ACTIVITY - UNIV AT ALBANY FOUNDATION 12,603,667. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXP ON RETURN ELIMINATED IN CONSOLIDATION ON FINANCIALS 386,469. 0 0 0 RICHARD MCGINN JR EXECUTIVE DIRECTOR 0 214296 0 0 0 13435 0 22698 0 1996 0 252425 0 0 PART I, LINE 3 RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION COMPENSATION FOR THE RELATED ORGANIZATION, THE UNIVERSITY AT ALBANY FOUNDATION (FOUNDATION), IS BASED ON DATA FOR COMPARABLE POSITIONS AT THE FOUNDATION'S FINANCE COMMITTEE, AND APPROVED BY THE FOUNDATION'S SIMILAR ORGANIZATIONS. COMPENSATION AND WAGE INCREASES ARE REVIEWED BY EXECUTIVE COMMITTEE, THROUGH THE BUDGET PROCESS. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION'S SOLE MEMBER IS THE UNIVERSITY AT ALBANY FOUNDATION. THE MEMBER SHALL MAKE POSSIBLE THE ORDERLY AND SOUND EXISTENCE OF THE CORPORATION, AND SHALL ESTABLISH, AND AMEND AS NECESSARY, THE BY-LAWS OF THE CORPORATION. THE MEMBER SHALL FORM THE BOARD OF DIRECTORS OF THE CORPORATION, WHO SHALL DIRECT THE MANAGEMENT AND OPERATION OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD SHALL BE COMPOSED AS FOLLOWS: 4 DIRECTORS SHALL BE, EX OFFICIO, THE PRESIDENT OF THE UNIVERSITY AT ALBANY, OR THEIR DESIGNEE, THE PRESIDENT OF THE UNIVERSITY AT ALBANY FOUNDATION (THE FOUNDATION), THE TREASURER OF THE FOUNDATION, AND THE EXECUTIVE DIRECTOR OF THE FOUNDATION; 3 DIRECTORS APPOINTED BY THE MEMBER(S); 2 DIRECTORS FROM THE PUBLIC AT LARGE WHO SHALL BE ELECTED ONLY IN THE FISCAL YEARS ENDING IN AN EVEN NUMBER BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS; AND 2 DIRECTORS FROM THE PUBLIC AT LARGE WHO SHALL BE ELECTED ONLY IN THE FISCAL YEARS ENDING IN AN ODD NUMBER BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDES A DRAFT OF FORM 990 TO THE UNIVERSITY AT ALBANY FOUNDATION AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING. THE AUDIT COMMITTEE MEETS TO COMMENT ON FORM 990 AND ANY REVISIONS WILL BE DISCUSSED AT THAT TIME. A COMPLETE COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES, AS ULTIMATELY FILED WITH THE IRS) WAS PROVIDED TO EACH VOTING MEMBER OF THE UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION'S BOARD BEFORE ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL NEW DIRECTORS AND OFFICERS OF THE CORPORATION SHALL BE ADVISED OF THE CONFLICT OF INTEREST POLICY AND ASKED TO COMPLETE A DISCLOSURE FORM AT THE OUTSET OF THEIR TENURE, AND ON AN ANNUAL BASIS ALL INTERESTED PARTIES SHALL BE ASKED TO COMPLETE AND SUBMIT A DISCLOSURE FORM TO THE EXECUTIVE DIRECTOR. IN THE EVENT AN INTERESTED PARTY BELIEVES A POSSIBLE CONFLICT OF INTEREST TO BE PRESENT, FULL DISCLOSURE OF THE NATURE OF THE CONFLICT SHALL BE MADE ON THAT QUESTIONNAIRE. WHEN CIRCUMSTANCES ARISE THAT LEAD TO A PREVIOUSLY UNDISCLOSED CONFLICT, FULL DISCLOSURE OF SAID CONFLICT SHOULD BE MADE TO THE EXECUTIVE DIRECTOR AT THE EARLIEST OPPORTUNITY. IN GENERAL, THE PRESENCE OF A REAL OR POTENTIAL CONFLICT OF INTEREST IS NOT CAUSE FOR TERMINATION OF AN INTERESTED PARTY'S RELATIONSHIP WITH THE CORPORATION. THE CORPORATION'S OBJECTIVE IS TO RECEIVE FULL DISCLOSURE OF ANY CONFLICT AND TO ENSURE THAT ANY ACTION OR DECISION BE MADE BY OTHERS ACTING SOLELY WITH THE CORPORATION'S INTEREST IN MIND. THUS, ANY INTERESTED PARTY CONFRONTED BY SUCH A CONFLICT SHOULD REFRAIN FROM ACTING ON BEHALF OF THE CORPORATION IN THE CONTRACT OR TRANSACTION TO WHICH IT PERTAINS AND SHOULD REFER THE MATTER TO OTHERS IN AUTHORITY. IN THE CASE OF ANY DIRECTOR WHO WOULD BE PARTICIPATING IN BOARD ACTION ON A MATTER TO WHICH A CONFLICT OF INTEREST MIGHT APPLY, SAID DIRECTOR SHALL DISCLOSE THE CONFLICT TO THE BOARD AND SHALL REFRAIN FROM VOTING OR USING PERSONAL INFLUENCE ON THE MATTER. THE MINUTES OF THE MEETING SHALL RECORD THAT DISCLOSURE AND ABSTENTION FROM VOTING WERE MADE. A DIRECTOR'S CONFLICT WILL BE WITHOUT CONSEQUENCE TO THE BOARD'S ACTION IF, FIRST, THERE IS FULL DISCLOSURE OF THE CONFLICT, AND SECOND, A DISINTERESTED MAJORITY OF DIRECTORS APPROVES, RATIFIES OR TAKES THE SUBJECT ACTION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE CORPORATION MAKES ORGANIZATIONS DOCUMENTS, CONFLICT OF INTEREST POLICY , AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G BUILDING SERVICES CONTRACT 1,863,215. FORM 990, PART XII, LINE 2C NO CHANGE FROM THE PRIOR YEAR THE UNIVERSITY AT ALBANY FOUNDATION 1400 WASHINGTON AVE UAB 226 ALBANY NY 12222 141503972 CHARITY NY LINE 5 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 ADDITIONAL INFORMATION THE UNIVERSITY AT ALBANY FOUNDATION (THE FOUNDATION) IS THE SOLE MEMBER OF THE UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION (UABDC) AND FOR FINANCIAL REPORTING PURPOSES UABDC IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE FOUNDATION. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WHILE UABDC FALLS UNDER SECTION 501(C)(25). UABDC WAS INCORPORATED FOR THE SOLE PURPOSE OF ACQUIRING, HOLDING AND DEVELOPING PROPERTY AND FOR MANAGING THE FACILITIES AND REAL ESTATE FOR THE BENEFIT OF THE UNIVERSITY AT ALBANY AND THE STATE UNIVERSITY OF NEW YORK. THE FOUDNATION PROVIDES MANAGEMENT AND ACCOUNTING SERVICES FOR UABDC.