2025-05-12T07:36:18-05:00 2024-06-30 135565207 KPMG LLP 515 BROADWAY 4TH FLOOR ALBANY NY 122072974 990 2023-07-01 160865182 UNIVERSITY AT BUFFALO FOUNDATION INC UNIV 7166453011 BOX 900 BUFFALO NY 142260900 PATRICK E RICHEY CHIEF FINANCIAL OFFICER 7166453011 2025-05-08 1 1 STEPHANIE LONCZAK P10880207 5184274600 2023 2025-03-06 01:10:19Z ANASTACIA S KNAPPER BOX 900 BUFFALO NY 142260900 343090082 0 X WWW.UB-FOUNDATION.ORG X 1962 NY 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. 23 23 0 24 580423 0 47003028 60024628 20149 3385 35735853 63173316 0 0 82759030 123201329 68487334 73906758 0 0 0 0 0 0 0 9439820 20793365 77927154 94700123 4831876 28501206 1367532436 1436699139 244439623 207167834 1123092813 1229531305 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. 0 0 73906758 73906758 3385 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. 8324832 40236332 INVESTMENTS ARE MANAGED UNDER THE SUPERVISION OF UBF'S BOARD INVESTMENT COMMITTEE. MORE THAN SIXTY 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 $1,351,226,488 AT JUNE 30, 2024, THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. 12440891 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. 94672481 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 40 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 NY X X PATRICK E RICHEY 7166453011 BOX 900 BUFFALO NY 14226 TERESA BAIR TRUSTEE 1.00 2.00 X 0 0 0 GREGORY BAUER CHAIR/TRUSTEE 1.00 2.00 X X 0 0 0 JASON BIRD TRUSTEE 1.00 0.00 X 0 0 0 HELEN CAPPUCCINO TRUSTEE 1.00 0.00 X 0 0 0 ROBERT DENNING TREASURER/TRUSTEE 1.00 2.00 X 0 0 0 GREGG FISHER TRUSTEE 1.00 0.00 X 0 0 0 DANIEL HAMISTER TRUSTEE 1.00 4.00 X 0 0 0 KATHLEEN HAMM TRUSTEE (AS OF 7/1/23) 1.00 0.00 X 0 0 0 LOUIS JACOBS TRUSTEE 1.00 0.00 X 0 0 0 KATHIE KELLER TRUSTEE 2.00 0.00 X 0 0 0 DANIEL MAGNUSZEWSKI TRUSTEE (AS OF 7/1/23) 1.00 2.00 X 0 0 0 MARGARET MCGLYNN TRUSTEE (AS OF 7/1/23) 1.00 0.00 X 0 0 0 DALE MCKIM III TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL MURRAY TRUSTEE (AS OF 7/1/23) 1.00 0.00 X 0 0 0 MICHAEL OLFANO TRUSTEE (AS OF 7/1/23) 1.00 0.00 X 0 0 0 JAMES PALMISCIANO TRUSTEE 1.00 0.00 X 0 0 0 JEAN POWERS SECRETARY/TRUSTEE 1.00 4.00 X X 0 0 0 NAGENDRA RAINA TRUSTEE 1.00 2.00 X 0 0 0 DANIELLE SHAINBROWN TRUSTEE 1.00 4.00 X 0 0 0 STEVEN SHEPSMAN TRUSTEE 1.00 6.00 X 0 0 0 EILEEN SILVERS TRUSTEE 2.00 2.00 X 0 0 0 DANIEL SPERRAZZA TRUSTEE 1.00 0.00 X 0 0 0 SATISH TRIPATHI TRUSTEE 1.00 0.00 X 0 0 0 SUJATA YALAMANCHILI TRUSTEE (THRU 12/31/23) 1.00 4.00 X 0 0 0 ANASTACIA KNAPPER CHIEF EXECUTIVE OFFICER 20.00 36.00 X 0 361894 68156 PATRICK RICHEY CHIEF FINANCIAL OFFICER 20.00 36.00 X 0 248804 29814 0 610698 97970 0 0 1 0 MERCER ASSOCIATES 101 SOUTH HANLEY ROAD ST LOUIS MO 63105 INVST. CONSULTANT 938750 HIG CAPITAL 601 LEXINGTON AVENUE NEW YORK NY 10022 ASSET MANAGEMENT 861304 SILCHESTER INTERNATIONAL INVESTORS 780 THIRD AVENUE 42ND FLOOR NEW YORK NY 10017 ASSET MANAGEMENT 437515 K PRIVATE INVESTORS 875 MANHATTAN BEACH BLVD MANHATTAN BEACH CA 90266 ASSET MANAGEMENT 376549 BATTERY VENTURES 1 MARINA PARK DRIVE SUITE 100 BOSTON MA 02210 ASSET MANAGEMENT 361875 24 6652534 53372094 15067868 60024628 VARIOUS SUPPORT PROGRAMS 611710 3385 3385 3385 22319371 -37190 22356561 260742698 219888753 40853945 40853945 40236332 617613 123201329 40239717 580423 22356561 73906758 73906758 8324832 8324832 27642 27642 UNIVERSITY SUPPORT 12440891 12440891 94700123 94672481 27642 0 1335820 1119948 53680796 59555630 332273 344279 42734930 6673498 11216921 9734311 0 1482610 1022190740 1110139640 230346249 240391312 16911628 16992222 1367532436 1436699139 22448 30790 4134187 4420793 240282988 202716251 244439623 207167834 X 214367876 248046591 908724937 981484714 1123092813 1229531305 1367532436 1436699139 X 28501206 76639657 1297629 X 0 1 X 1 0 X 25531445 43097485 32063841 47003028 60024628 207720427 25531445 43097485 32063841 47003028 60024628 207720427 19170946 188549481 10337310 27262865 45226974 17047195 22356561 122230905 329951332 118927 0.57140 0.56540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82094 16992222 X X X X 0 0 1 X 970993254 30623731 101745768 6839706 37033650 1059489397 907867833 20054042 84877946 6755714 35050853 970993254 1020052659 17113657 -89769868 6413333 33115282 907867833 788909963 25617834 243426670 5037798 32864010 1020052659 797894689 15063213 9707746 4695337 29060348 788909963 0.51756 0.24660 0.23584 1 0 11216921 9734311 1482610 1482610 OTHER SECURITIES 240391312 F 240391312 ANNUITY AND LIFE INCOME PAYABL 6860160 PAYABLE TO AFFILIATES 195856091 202716251 X 192813783 76639657 1297629 77937286 114876497 8324832 8324832 123201329 86375291 0 86375291 8324832 8324832 94700123 PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTIONS AND HOW FURTHERS EXEMPT PURPOSE THE ORGANIZATION'S FINE ARTS COLLECTION CONSISTS OF WORKS OF ART, RARE ARTIFACTS, RARE BOOKS, VALUABLE FURNITURE, AND OTHER ITEMS. THE COLLECTION IS EXHIBITED BOTH ON AND OFF THE UNIVERSITY AT BUFFALO'S CAMPUS AND IS USED IN STUDENT STUDIES AND PUBLIC SHOWINGS TO FURTHER THE EDUCATION MISSION OF THE UNIVERSITY AT BUFFALO. PART IV, LINE 2B: ESCROW AND CUSTODIAL ARRANGEMENTS UBF ADMINISTERS GIFTS AND ENDOWMENTS FOR OTHER STATE UNIVERSITY OF NEW YORK CAMPUSES AND ALSO ONE INSTITUTION THAT IS CONSIDERED AN AFFILIATED UNIVERSITY. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUND THE ENDOWMENT FUNDS ARE HELD TO BENEFIT THE UNIVERSITY AT BUFFALO. ENDOWMENT FUNDS ARE INVESTED TO MAXIMIZE INVESTMENT RETURN WHILE PRESERVING THE INFLATION-ADJUSTED PURCHASING POWER OF THE PORTFOLIO. THIS SHOULD PROVIDE A RELATIVELY PREDICTABLE, CONSTANT AND STABLE (IN REAL TERMS) STREAM OF FUNDS FOR CURRENT USE. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE THE INTERNAL REVENUE SERVICE HAS RULED THAT UNIVERSITY AT BUFFALO FOUNDATION, INC. IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS THEREFORE, GENERALLY NOT SUBJECT TO TAX ON RELATED INCOME UNDER PRESENT FEDERAL INCOME TAX LAWS, AND IS ALSO NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1), (A)(2), OR (A)(3) OF THE INTERNAL REVENUE CODE. UNIVERSITY AT BUFFALO FOUNDATION, INC. FOLLOWS THE PROVISIONS OF ASC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHEREBY IT RECOGNIZES INCOME TAX POSITIONS WHEN IT IS MORE-LIKELY THAN-NOT THAT THE POSITION WILL BE SUSTAINABLE BASED ON THE MERITS OF THE POSITION. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT NEED TO BE RECORDED AT JUNE 30, 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUE 1,297,629. EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS 23225034 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 270720974 0 0 0 0 0 0 293946008 0 293946008 1 0 1 1 1 0 1 UB FOUNDATION ACTIVITIES INC BOX 900 BUFFALO NY 14226 161372561 501(C)(3) 73906758 0 N/A N/A EDUCATION SUPPORT 1 PART I, LINE 2: PROCEDURES FOR MONITORING USE OF GRANT FUNDS IN U.S. UNIVERSITY AT BUFFALO FOUNDATION, INC'S ASSISTANCE TO ORGANIZATIONS IN THE U.S. CONSISTS OF SUPPORT TO CHARITABLE ORGANIZATIONS. UNIVERSITY AT BUFFALO FOUNDATION, INC. TRANSFERS AMOUNTS AS NEEDED TO UB FOUNDATION ACTIVITIES, INC., A RELATED ORGANIZATION, AND MONITORS THE USE OF THE FUNDS TO ENSURE THEY ARE SPENT ACCORDING TO DONOR RESTRICTIONS. UNIVERSITY AT BUFFALO FOUNDATION, INC. ONLY GIVES GRANTS TO AFFILIATED ORGANIZATIONS WHO ARE WORKING TO SUPPORT THE UNIVERSITY AT BUFFALO. 0 0 0 0 0 0 0 0 0 ANASTACIA KNAPPER CHIEF EXECUTIVE OFFICER 0 361894 0 0 0 0 0 43002 0 25154 0 430050 0 0 PATRICK RICHEY CHIEF FINANCIAL OFFICER 0 248804 0 0 0 0 0 29289 0 525 0 278618 0 0 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. X 5 73419 APPRAISAL X 8675 APPRAISAL X 5 11318320 DONOR AGREEMENT X 45 1360596 QUOTED MARKET PRICE X EQUIPMENT 6 1782434 COST X SUPPLIES 4 520584 COST X DINNERS/ENTERTAINMENT 1 2115 COST X OTHER 1 1725 COST 0 1 1 PART I, LINE 32B: USE OF THIRD PARTY THE ORGANIZATION USES A BROKER TO SELL GIFTS OF MARKETABLE SECURITIES. PART I, COLUMN (B) CONTRIBUTIONS THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). FORM 990, PART VI, SECTION B, LINE 11B FROM 990 REVIEW PROCESS AFTER THE FORM 990 HAS BEEN PREPARED AND COMPLETED INTERNALLY IT IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. AN EXTERNAL REVIEW OF THE FORM 990 IS THEN PERFORMED BY THE ORGANIZATION'S OUTSIDE ACCOUNTANTS (KPMG). THE ORGANIZATION'S BOARD OF TRUSTEES HAS DELEGATED THE REVIEW PROCESS TO THE AUDIT COMMITTEE OF THE UNIVERSITY AT BUFFALO FOUNDATION, INC. THE FORM 990 IS DISCUSSED AT A MEETING OF THE AUDIT COMMITTEE PRIOR TO FILING THE RETURN. UPON COMPLETION OF THE AUDIT COMMITTEE'S REVIEW, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EXPLANATION OF MONITORING AND ENFORCEMENT ALL DIRECTORS AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO COMPLETE A WRITTEN CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. ALL DIRECTORS AND OFFICERS ARE ALSO REQUIRED TO PROVIDE ANY UPDATED INFORMATION ON POTENTIAL CONFLICTS THAT ARISE PRIOR TO THE COMPLETION OF THE DISCLOSURE STATEMENT. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE ORGANIZATION'S MANAGEMENT. ALL SITUATIONS THAT ARE DEEMED TO REPRESENT A CONFLICT AS DESCRIBED IN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ARE REPORTED TO THE BOARD CHAIR. THE CONFLICTED INDIVIDUAL MUST RECUSE HIMSELF OR HERSELF DURING THE DISCUSSION OF AND VOTING ON AN ACTION THAT INVOLVES THE IDENTIFIED CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND THE FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: CHANGE IN ACTUARIAL VALUE 1,297,629. UB FOUNDATION ACTIVITIES INC BOX 900 BUFFALO NY 14226 161372561 EDUCATION SVC NY 501(C)(3) 7 N/A 1 UB FOUNDATION SERVICES INC BOX 900 BUFFALO NY 14226 161331699 EDUCATION SVC NY 501(C)(3) 10 N/A 1 UBF CORPORATION BOX 900 BUFFALO NY 14226 510164454 EDUCATION SVC NY 501(C)(2) N/A N/A 1 FNUB INC BOX 900 BUFFALO NY 14226 161537468 EDUCATION SVC NY 501(C)(3) 7 N/A 1 UNIV AT BUFFALO FOUND INCUBATOR INC BOX 900 BUFFALO NY 14226 161301210 EDUCATION SVC NY 501(C)(3) 12C III-FI N/A 1 UBF FACULTY - STUDENT HOUSING CORP BOX 900 BUFFALO NY 14226 161372560 EDUCATION SVC NY 501(C)(3) 10 N/A 1 CHARITABLE REMAINDER ANNUITY TRUST (2) BOX 900 BUFFALO NY 14226 EDUCATION NY N/A T 1 CHARITABLE REMAINDER UNITRUST (15) BOX 900 BUFFALO NY 14226 EDUCATION NY N/A T 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 UB FOUNDATION ACTIVITIES INC B 73906758 ACCRUAL UB FOUNDATION ACTIVITIES INC C 6652534 ACCRUAL