2026-05-01T09:00:23-05:00 2025-06-30 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990 2024-07-01 141503972 UNIVERSITY AT ALBANY FOUNDATION UNIV 5184375090 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 FARDIN SANAI EXCUTIVE DIRECTOR 5184375090 2026-04-28 1 1 GRACE GONZALEZ P01357170 5853811000 2026-04-28 2024 2025-03-06 01:10:19Z FARDIN SANAI 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 36804407 0 X WWW.ALBANY.EDU/UAFOUNDATION X 1967 NY THE MISSION OF THE UNIVERSITY AT ALBANY FOUNDATION IS TO ENCOURAGE, RECEIVE, ACCEPT, HOLD, INVEST, AND MANAGE MONEY AND PROPERTY OF EVERY DESCRIPTION, AND THE DISBURSEMENT THEREOF FOR THE PROMOTION, DEVELOPMENT AND ADVANCEMENT OF THE WELFARE OF THE STATE UNIVERSITY OF NEW YORK AT ALBANY (UNIVERSITY), ITS STUDENTS, FACULTY, STAFF AND ALUMNI, AND ANY OTHER ORGANIZATION, QUALIFIED AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE AND ITS REGULATIONS, WHICH HAS AMONG ITS CORPORATE PURPOSES PROVIDING ASSISTANCE TO THE UNIVERSITY. 34 33 10 33 411814 45573 45092354 25398994 783635 984021 2237878 5590457 -357274 -406893 47756593 31566579 5871739 5852181 0 0 898786 994934 30000 0 868784 5517587 5333028 12318112 12180143 35438481 19386436 238704903 276898927 14455228 15033995 224249675 261864932 SEE SCHEDULE O 0 0 9801552 5852181 416702 HIGHER EDUCATION PROGRAM ADMINISTER FUNDS FOR THE PROMOTION, DEVELOPMENT AND ADVANCEMENT OF THE WELFARE OF THE UNIVERSITY AT ALBANY, SUNY, ITS STUDENTS, FACULTY, STAFF AND ALUMNI. SCHOLARSHIPS, AWARDS, AND EMERGENCY STUDENT ASSISTANCE WERE PROVIDED TO 3,022 INDIVIDUALS 567319 ADMINISTRATIVE SERVICES PROVIDE MANAGEMENT AND ACCOUNTING SERVICES TO ORGANIZATIONS WHOSE PURPOSE IS TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY. 9801552 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 1 286 0 1 10 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 33 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CA HI KY MD MA MI MN NH NJ OR PA SC VA WV WI AR X X RICHARD MCGINN 5184375090 1400 WASHINGTON AVENUE UAB 226 ALBANY NY 12222 X HAVIDAN RODRIGUEZ DIRECTOR 1.00 1.00 X 5460 0 0 GEORGE HEARST III PRESIDENT 1.00 1.00 X X 0 0 0 BRIAN STRAUGHTER VICE PRESIDENT 1.00 1.00 X X 0 0 0 JEFFREY BLACK TREASURER 1.00 1.00 X X 0 0 0 AMY KNAPP SECRETARY 1.00 1.00 X X 0 0 0 NOLAN ALTMAN DIRECTOR 1.00 X 0 0 0 MICHAEL BORYS DIRECTOR 1.00 X 0 0 0 PETER BULGER DIRECTOR 1.00 X 0 0 0 MICHAEL CASTELLANA DIRECTOR 1.00 X 0 0 0 SAUL CURTIS DIRECTOR 1.00 X 0 0 0 KATHLEEN DENNIS DIRECTOR 1.00 X 0 0 0 LOUIS DESORBO DIRECTOR 1.00 X 0 0 0 ELDA DI RE DIRECTOR 1.00 X 0 0 0 SOPHIA FERRADAS DIRECTOR 1.00 X 0 0 0 LISA FUND DIRECTOR 1.00 X 0 0 0 MARY HAGGERTY DIRECTOR 1.00 X 0 0 0 KEITH HYNES DIRECTOR 1.00 X 0 0 0 SHARON KANTOR DIRECTOR 1.00 X 0 0 0 ROANNE KULAKOFF DIRECTOR 1.00 X 0 0 0 MARYANNE LAVAN DIRECTOR 1.00 X 0 0 0 MEG PICOTTE MACCLARENCE DIRECTOR 1.00 X 0 0 0 JOHN NAUMANN DIRECTOR 1.00 X 0 0 0 WILLIAM NEWMAN DIRECTOR 1.00 X 0 0 0 DANIEL NOLAN DIRECTOR 1.00 X 0 0 0 KIMBERLY SANGER JONES DIRECTOR 1.00 X 0 0 0 ROBERT SCHWARTZ DIRECTOR 1.00 X 0 0 0 REBECCA STAFFORD DIRECTOR 1.00 X 0 0 0 MAUREEN SWEENEY DIRECTOR 1.00 X 0 0 0 EDWARD SWYER DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL WEILHEIMER DIRECTOR 1.00 X 0 0 0 MARK YANG DIRECTOR 1.00 X 0 0 0 TODD FOREMAN DIRECTOR 1.00 1.00 X 0 0 0 JONATHAN JONES DIRECTOR 1.00 X 0 0 0 CANON KAY HOTALING DIRECTOR 1.00 X 0 0 0 RICHARD MCGINN JR CHIEF FINANCIAL OFFICER 24.37 13.13 X 238210 0 26469 FARDIN SANAI EXECUTIVE DIRECTOR 5.00 1.00 X 18965 0 0 CHRISTOPHER LOSAVIO CONTROLLER 30.00 7.50 X 152922 0 15667 415557 0 42136 2 0 1 0 PRIME BUCHHOLZ LLC PO BOX 16011 LEWISTON ME 04243 INVESTMENT CONSULTANT 165578 1 181300 25217694 834129 25398994 ADMIN FEE INCOME 561000 567319 567319 PROGRAM ACTIVITIES AND OTHER REVE 611710 416702 416702 984021 3556275 282671 3273604 32016 363129 -331113 -331113 -331113 6760438 4726256 2034182 2034182 129143 1905039 72663 181300 148443 -75780 -75780 31566579 984021 411814 4771750 X 660832 660832 5191349 5191349 320591 5762 314829 483575 483575 48933 48933 89695 89695 52140 52140 1480 1480 70350 70350 33100 33100 200284 200284 600337 506858 4712 88767 22399 22399 844334 777498 15535 51301 22350 22350 MEETINGS AND EVENTS 617082 617082 UNIVERSITY STAFFING 590326 590326 INFORMATION TECHNOLOGY 575464 322243 39164 214057 SUPPLIES AND SERVICES 516906 366256 65820 84830 1238616 707847 100940 429829 12180143 9801552 1509807 868784 741317 1951259 2427847 2588911 18323219 18478179 1043420 1525533 1069357 432407 665637 636950 127591908 149103219 84328750 99079245 3582805 3535631 238704903 276898927 873606 757081 13581622 14276914 14455228 15033995 X 36922101 45283816 187327574 216581116 224249675 261864932 238704903 276898927 19386436 18228821 0 X X 0 1 X 1 0 X 10896160 10225824 21497131 45092354 25398994 113110463 10896160 10225824 21497131 45092354 25398994 113110463 32093525 81016938 2633847 3116771 1978593 2518538 3588291 13836040 29891 29891 126976394 0.63800 0.61970 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING INCOME - 2021 AMOUNT: $ 29,891. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 33100 33100 0 PART II-B, LINE 1: THE FOUNDATION MADE PAYMENTS TO A PUBLIC RELATIONS FIRM TO LOBBY THE NEW YORK STATE LEGISLATIVE BRANCHES ON MATTERS REGARDING BUDGET, REGULATORY AND LEGISLATIVE ISSUES OF IMPORTANCE TO THE STATE UNIVERSITY OF NEW YORK AT ALBANY. THIS IS A REOCCURING RELATIONSHIP THAT COINCIDES WITH THE ANNUAL NEW YORK STATE BUDGET DEVELOPMENT PROCESS. 2325500 X X X 0 166836576 17499475 17363862 2326846 2032731 197340336 115680399 42957857 11754988 2099655 1457013 166836576 100856595 15091147 3030811 1783305 1514849 115680399 102701928 3628560 -2556482 1571551 1345860 100856595 77649961 6543838 20906713 1297431 1101153 102701928 0.04090 0.94610 0.01300 0 0 1000235 381462 618773 69122 50945 18177 636950 LIMITED PARTNERSHIPS 99079245 F 99079245 ANNUITY AND LIFE INCOME OBLIGATIONS 1496445 LIABILITIES ASSOCIATED WITH INVESTMENTS 12780469 14276914 X 55153972 18228821 5479603 23708424 31445548 200284 -79253 121031 31566579 20256038 8276179 8276179 11979859 200284 200284 12180143 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 JUDGEMENT OCCURS. THE FOUNDATION BELIEVES IT HAS TAKEN NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED ENTITY ACTIVITY-UABDC 5,479,603. TRANSFERS TO RELATED ORGANIZATION PART XI, LINE 4B - OTHER ADJUSTMENTS: REAL ESTATE EXPENSES -363,129. DIRECT EXPENSES FOR FUNDRAISING EVENTS -148,443. REVENUE ON RETURN ELIMINATED IN CONSOLIDATION ON FINANCIALS 432,319. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED ENTITY ACTIVITY 7,764,607. REAL ESTATE EXPENSES 363,129. DIRECT EXPENSES FOR FUNDRAISING EVENTS 148,443. SCHEDULE D, PAGE 2, PART III, LINE 4 THE FOUNDATION'S ART AND HISTORICAL COLLECTION CONSISTS OF PAINTINGS, PHOTOGRAPHS, BOOKS, HISTORICAL PAPERS, AND MEDIA. THE COLLECTION ADDS TO THE SCHOLARLY RESOURCES AND EXHIBITS AVAILABLE AT THE UNIVERSITY AT ALBANY'S ART MUSEUM AND LIBRARIES FOR THE BENEFIT OF ITS STUDENTS AND FACULTY. SCHEDULE D, PAGE 2, PART V, LINE 4 THE ENDOWMENT FUNDS ARE HELD TO BENEFIT THE UNIVERSITY AT ALBANY WITH ALL ENDOWMENTS RESTRICTED TO STUDENT ASSISTANCE OR SPECIFIC PROGRAMS WITHIN THE UNIVERSITY. 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 STREAM OF FUNDS FOR CURRENT USE. CARIBBEAN 0 0 INVESTMENTS 49472012 EUROPE 0 0 INVESTMENTS 3629407 0 0 0 0 0 0 53101419 0 53101419 1 0 1 1 1 0 PART I, LINE 3- ACTIVITIES PER REGION ALL BALANCES SHOWN ARE FOR INVESTMENTS. NO EXPENDITURES WERE INCURRED IN THOSE REGIONS. CITIZEN LAUREATE 177410 150585 26825 1056 76468 26851 ATHLETICS FUNDRAISER 76553 30715 45838 39455 4613 253963 181300 72663 1056 115923 31464 148443 -75780 1 STATE UNIVERSITY OF NEW YORK AT ALBANY 1400 WASHINGTON AVE ALBANY NY 12222 147400260 GOVERNMENT 0 473237 FMV EQUIPMENT/BUILDING IMPROVEMENTS CAPITAL CONTRIBUTION ALBANY LEADERSHIP CHARTER SCHOOL FOR GIRLS 19 HACKETT BLVD ALBANY NY 12208 270563603 3 15600 0 PROGRAM SUPPORT PARSONS CHILD AND FAMILY CENTER 60 ACADEMY RD ALBANY NY 12208 141347440 3 82845 0 PROGRAM SUPPORT LASALLE SCHOOL 391 WESTER AVE ALBANY NY 12203 141338536 3 29150 0 PROGRAM SUPPORT REGIONAL FOOD BANK OF NENY 965 ALBANY SHAKER RD LATHAM NY 12110 222470885 3 30000 0 FOOD PANTRY REFUGEE AND IMMIGRANT SUPPORT SERVICES OF EMMAUS INC 715 MORRIS ST ALBANY NY 12208 274809744 3 9600 0 INTERNSHIP SUPPORT 6 SCHOLARSHIPS AND AWARDS 3022 5191349 PART I, LINE 2: THE FOUNDATION'S PURPOSE IS TO SUPPORT THE STATE UNIVERSITY OF NEW YOUR AT ALBANY (UNIVERSITY), ITS STUDENTS, FACULTY, AND OTHER ORGANIZATIONS WHO PROVIDE ASSISTANCE TO THE UNIVERSITY. NO SUPPORT IS GIVEN BY THE FOUNDATION TO ANY INDIVIDUAL OR ORGANIZATION WHO IS NOT THE UNIVERSITY, A STUDENT OR FACULTY OF THE UNIVERSITY, OR AN ORGANIZATION WHO DOES NOT PROVIDE ASSISTANCE TO THE UNIVERSITY SYSTEM. SCHOLARSHIP RECIPIENTS ARE MONITORED EACH SEMESTER BY THE UNIVERSITY'S FINANCIAL AID OFFICE FOR COMPLIANCE WITH THE FOUNDATION, STATE AND FEDERAL REQUIREMENTS. X 1 1 X 0 0 0 0 0 0 0 0 0 RICHARD MCGINN JR CHIEF FINANCIAL OFFICER 223368 0 0 0 14842 0 23951 0 2518 0 264679 0 0 0 CHRISTOPHER LOSAVIO CONTROLLER 138080 0 0 0 14842 0 13849 0 1818 0 168589 0 0 0 PART I, LINE 1A THE FOUNDATION PAYS SOCIAL CLUB DUES FOR FARDIN SANAI (UNIVERSITY AT ALBANY FOUNDATION EXECUTIVE DIRECTOR/UNIVERSITY AT ALBANY VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT) AND HAVIDAN RODRIGUEZ (UNIVERSITY AT ALBANY FOUNDATION DIRECTOR/UNIVERSITY AT ALBANY PRESIDENT). THE DUES HAVE BEEN REPORTED AS TAXABLE COMPENSATION. X 22 550014 FAIR VALUE X EQUIPMENT 1 284115 FAIR VALUE 0 0 1 1 PART I, LINE 32B: THE FOUNDATION HAS A BROKERAGE ACCOUNT IN ITS NAME WITH A FINANCIAL INSTITUTION WHERE ALL CONTRIBUTIONS OF SECURITIES ARE TRANSFERRED INTO. THE FOUNDATION EXECUTES ALL SALES OF THE SECURITIES THROUGH THE INSTITUTION'S ONLINE TRADING PLATFORM. SCHEDULE M- SUPPLEMENTAL INFORMATION PART I, COLUMNG (B) - THE NUMBER OF CONTRIBUTIONS ARE REPORTED IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE THE DIRECTORS OF THE CORPORATION. THE MEMBERS SHALL HAVE ALL RIGHTS OF MEMBERS AS SPECIFIED IN THE NEW YORK STATE NOTFORPROFIT CORPORATION LAW. THE DIRECTORS OF THE BOARD SHALL CONSIST OF ELECTED AND EX OFFICIO DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED AS FOLLOWS: 5 MEMBERS FROM PERSONS NOMINATED BY THE ALUMNI ASSOCIATION BOARD; 1 MEMBER FROM PERSONS NOMINATED BY THE BENEVOLENT ASSOCIATION BOARD; 10 MEMBERS FROM PERSONS NOMINATED BY THE UNIVERSITY PRESIDENT; 3 MEMBERS, WHO ARE MEMBERS OF THE UNIVERSITY'S FACULTY, FROM PERSONS NOMINATED BY THE UNIVERSITY PRESIDENT; 1 MEMBER WHO IS A MEMBER OF THE UNIVERSITY'S STUDENT BODY, FROM PERSONS NOMINATED BY THE UNIVERSITY PRESIDENT; 30 AT-LARGE MEMBERS FROM PERSONS NOMINATED BY THE BOARD. EACH DIRECTOR, INCLUDING THE EX OFFICIO DIRECTORS, SHALL HAVE THE SAME POWERS AND ONE VOTE ON ANY MATTERS BEFORE THE BOARD, EXCEPT THE EXECUTIVE DIRECTOR OF THE CORPORATION, WHO SHALL HAVE NO VOTE. 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 BOARD BEFORE ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EVERY NEW DIRECTOR, OFFICER OR EMPLOYEE OF THE FOUNDATION IS ADVISED OF THE CONFLICTS OF INTEREST POLICY UPON ENTERING THE DUTIES OF OFFICE OR EMPLOYMENT. ANY DUALITY OF INTEREST ON THE PART OF ANY DIRECTOR OR OFFICER SHALL BE DISCLOSED TO THE AUDIT COMMITTEE CHAIR FOR REFERRAL TO THE SECRETARY FOR DISCLOSURE TO THE BOARD OF DIRECTORS. SUCH DISCLOSURE SHALL BE MADE A MATTER OF RECORD PRIOR TO THE ELECTION OF THE DIRECTOR OR OFFICER, AND ANNUALLY THEREAFTER, THROUGH A SIGNED STATEMENT IDENTIFYING ANY ENTITY HAVING A RELATIONSHIP WITH THE CORPORATION OF WHICH SAID DIRECTOR OR OFFICER IS A DIRECTOR, TRUSTEE, MEMBER, OWNER, OFFICER OR EMPLOYEE, OR, UPON RECOGNITION OF ANY OTHER CONFLICT, WHEN THE DIRECTOR OR OFFICER DISCOVERS THAT THE ORPORATION'S INTEREST MAY CONFLICT WITH THEIR OWN. IN GENERAL, A DIRECTOR'S OR OFFICER'S CONFLICT WILL BE CLEARED OF ANY CONSEQUENCE BY, FIRST, FULL DISCLOSURE AND, SECOND,APPROVAL OR RATIFICATION OF THE SUBJECT ACTION BY A DISINTERESTED MAJORITY OF DIRECTORS. ANY DIRECTOR OR OFFICER HAVING A DUALITY OF INTEREST SHALL NOT VOTE OR 1) REFRAIN FROM BEING PRESENT AT OR PARTICIPATING IN THE BOARD OR COMMITTEE DELIBERATION OR VOTE ON THE MATTER GIVING RISE TO THE CONFLICT, 2) NOT BE COUNTED IN THE QUORUM FOR ANY SUCH MEETING, AND 3) ENGAGE IN NO ATTEMPT TO PERSONALLY INFLUENCE THE OUTCOME OF THE DELIBERATION OR VOTE. THE MINUTES OF THE MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE, THE ABSENCE OF THE INTERESTED DIRECTOR OR OFFICER FROM THE MEETING AND THE QUORUM SITUATION. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PART VI, LINE 15A AND 15B COMPENSATION AT THE TIME OF HIRING IS BASED ON DATA FOR COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. COMPENSATION AND WAGE INCREASES ARE REVIEWED BY THE FINANCE COMMITTEE AND APPROVED BY THE EXECTIVE COMMITTEE THROUGH THE ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ORGANIZATIONAL DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH ITS OWN WEBSITE AND UPON REQUEST. FORM 990, PART VII THREE MEMBERS OF THE UNIVERSITY AT ALBANY FOUNDATION (FOUNDATION) BOARD ARE ALSO PAID EMPLOYEES OF THE UNIVERSITY AT ALBANY (UNIVERSITY). NONE OF THE COMPENSATION PAID TO THEM BY THE UNIVERSITY IS ATTRIBUTABLE TO THEIR POSITION ON THE FOUNDATION BOARD. THE UNIVERSITY EMPLOYEES ON THE FOUNDATION BOARD DO NOT REPRESENT A CONTROLLING MAJORITY OF THE BOARD. FORM 990, PART IX, LINE 24E DUES AND MEMBERSHIPS: PROGRAM SERVICE EXPENSES 350,856. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 350,856. DONOR CULTIVATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 311,932. TOTAL EXPENSES 311,932. BOOKS AND PUBLICATIONS: PROGRAM SERVICE EXPENSES 190,124. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 190,124. PRINTING AND MAILING: PROGRAM SERVICE EXPENSES 53,445. MANAGEMENT AND GENERAL EXPENSES 2,003. FUNDRAISING EXPENSES 117,897. TOTAL EXPENSES 173,345. REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 112,158. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 112,158. BANKING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 98,937. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 98,937. UTILITIES: PROGRAM SERVICE EXPENSES 1,264. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,264. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART X THE UNIVERSITY AT ALBANY FOUNDATION (FOUNDATION) MANAGES AND INVESTS A TERM-ENDOWED FUND ON BEHALF OF THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK (THE RESEARCH FOUNDATION). ACCORDINGLY, THE FOUNDATION REPORTS AN EQUAL ASSET AND LIABILITY ON THE BALANCE SHEET REPRESENTING THE FAIR VALUE OF INTESTMENTS MANAGED ON BEHALF OF THE RESEARCH FOUNDATION. UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION 1400 WASHINGTON AVE UAB 226 ALBANY NY 12222 364619281 REAL ESTATE NY 501(C)(25) UA FOUNDAT 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORP O 418917 ALLOCATION OF HOURS WORKED UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORP Q 194566 ACTUAL EXPENSES