2026-05-12T12:26:18+00:00 2025-06-30 135565207 KPMG LLP 515 Broadway 4th Floor Albany NY 12207 990 2024-07-01 160865182 University at Buffalo Foundation Inc UNIV 7166453013 BOX 900 BUFFALO NY 142260900 PATRICK E RICHEY CHIEF FINANCIAL OFFICER 7166453013 2026-05-12 true STEPHANIE LONCZAK P01880207 5184274600 2026-05-05 2024 2025-03-06 01:10:19Z ANASTACIA S KNAPPER BOX 900 BUFFALO NY 142260900 541247381 false X WWW.UB-FOUNDATION.ORG X 1962 NY SEE SCHEDULE O 22 22 0 23 985058 0 60024628 52830897 3385 638416 63173316 75182631 0 123201329 128651944 73906758 77561993 0 0 0 638312 638312 20793365 13973606 94700123 92173911 28501206 36478033 1436699139 1546784593 207167834 201548086 1229531305 1345236507 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. false false 77561993 77561993 638416 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. 12233677 50478809 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 SMALL INVESTMENT POOLS HAVING A MARKET VALUE OF $1,475,345,458 AT JUNE 30, 2025. THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. 1730773 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. 91526443 true true false false false false false true true true true true false false true true false true false false true false false true false false false true false true false false false false false false false false false false true true false false false true true true false false true 38 0 true 0 true true false false false false false false false false false false false X 22 22 false false false false false false false true true false false false true true true true true true false false true true NY X X PATRICK E RICHEY 7166453013 BOX 900 BUFFALO NY 14226 GREGORY BAUER CHAIR/TRUSTEE 1.0 2.0 X X 0 0 0 JEAN POWERS SECRETARY/TRUSTEE 1.0 4.0 X X 0 0 0 DANIEL K MAGNUSZEWSKI TRUSTEE 1.0 2.0 X 0 0 0 DANIEL M HAMISTER DIRECTOR 1.0 4.0 X 0 0 0 DANIEL SPERRAZZA TRUSTEE 1.0 0.0 X 0 0 0 DANIELLE SHAINBROWN TRUSTEE 1.0 4.0 X 0 0 0 EILEEN SILVERS TRUSTEE 2.0 2.0 X 0 0 0 HELEN CAPPUCCINO TRUSTEE 1.0 0.0 X 0 0 0 JAMES PALMISCIANO TRUSTEE 1.0 0.0 X 0 0 0 JASON BIRD TRUSTEE 1.0 0.0 X 0 0 0 KATHIE KELLER TRUSTEE 2.0 0.0 X 0 0 0 KATHLEEN HAMM TRUSTEE 1.0 0.0 X 0 0 0 LOUIS JACOBS TRUSTEE (until 5/15/25) 1.0 0.0 X 0 0 0 MARGARET MCGLYNN TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL MURRAY TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL OLFANO TRUSTEE 1.0 0.0 X 0 0 0 NAGENDRA RAINA TRUSTEE 1.0 2.0 X 0 0 0 PAUL A NUSSBAUM TRUSTEE (as of 7/1/24) 1.0 4.0 X 0 0 0 ROBERT DENNING TREASURER/TRUSTEE 1.0 2.0 X 0 0 0 SATISH TRIPATHI TRUSTEE 1.0 0.0 X 0 0 0 STEVEN H SHEPSMAN TRUSTEE 1.0 6.0 X 0 0 0 TERESA BAIR TRUSTEE 1.0 2.0 X 0 0 0 TERRENCE M GILBRIDE TRUSTEE (AS OF 7/1/2024) 1.0 4.0 X 0 0 0 ANASTACIA S KNAPPER CHIEF EXECUTIVE OFFICER 20.0 36.0 X 0 389550 74275 PATRICK RICHEY CHIEF FINANCIAL OFFICER 20.0 36.0 X 0 270017 32350 0 659567 106625 0 false true false HIG CAPITAL 601 LEXINGTON AVENUE NEW YORK NY 10022 ASSET MANAGEMENT 1303474 CAMBRIDGE 125 HIGH STREET BOSTON MA 02110 INVST. CONSULTANT 1087917 GREAT HILL EQUITY 1 LIBERTY SQUARE BOSTON MA 02109 ASSET MANAGEMENT 1082781 DIAMETER OFFSHORE BOX 261 GEORGE TOWN GRAND CAYMAN CJ KY11104 ASSET MANAGEMENT 754660 VITRUVIAN INVESTMENT 105 WIGMORE STREET LONDON UK UK W1U1QY ASSET MANAGEMENT 690504 28 1646139 12638252 38546506 4124419 52830897 VARIOUS SUPPORT PROGRAMS 611710 638416 638416 0 0 0 0 638416 24008661 289897 23718764 0 0 463769407 0 412595437 0 51173970 0 51173970 50478809 695161 0 0 0 0 0 128651944 51117225 985058 23718764 77561993 77561993 638312 638312 12233677 12233677 0 0 0 0 9156 9156 UNIVERSITY SUPPORT 1730773 1730773 0 0 0 0 92173911 91526443 9156 638312 1119948 339943 59555630 45248712 344279 347120 0 0 0 0 6673498 7024328 25368273 23885663 1482610 1482610 1110139640 1228825197 240391312 246520261 0 16992222 16996422 1436699139 1546784593 30790 24503 4420793 4900521 0 0 202716251 196623062 207167834 201548086 X 248046591 278081923 981484714 1067154584 1229531305 1345236507 1436699139 1546784593 X 36478033 77381009 1846160 X false true true false X 43097485 32063841 47003028 60024628 52830897 235019879 0 0 43097485 32063841 47003028 60024628 52830897 235019879 16033710 218986169 27262865 45226974 17047195 22356561 23718764 135612359 0 0 0 0 0 0 0 370632238 715921 0.59084 0.57145 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0.0 X 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12200 16996422 X X X X false false true X 1059489397 50161657 108063970 6458823 38869384 1172386817 970993254 30623731 101745768 6839706 37033650 1059489397 907867833 20054042 84877946 6755714 35050853 970993254 1020052659 17113657 -89769868 6413333 33115282 907867833 788909963 25617834 243426670 5037798 32864010 1020052659 0.4985 0.2606 0.2409 true false 25368273 23885663 1482610 1482610 Closely-held equity interests Financial derivatives OTHER SECURITIES 246520261 F 246520261 Federal Income Taxes ANNUITY AND LIFE INCOME PAYABLE 6505578 PAYABLE TO AFFILIATES 190117484 196623062 X 193999297 77381009 1846160 79227169 114772128 12233677 1646139 13879816 128651944 78294095 0 0 78294095 12233677 1646139 13879816 92173911 Schedule D, Part III, Line 4 Collections of art - description of collections DESCRIPTION OF ORGANIZATION'S COLLECTIONS AND HOW THEY FURTHER 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. Schedule D, Part IV, Line 2b Explanation of escrow agreement 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. Schedule D, Part V, Line 4 Intended uses of endowment funds 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. Schedule D, 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, 2025 OR 2024. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF SPLITS INTEREST AGREEMENTS - 1846160 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements GRANT EXPENSE RECLASSED - 1646139 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements GRANT EXPENSE RECLASSED - 1646139 Europe (Including Iceland and Greenland) Investments 23906792 Central America and the Caribbean Investments 283129760 0 0 0 0 0 0 307036552 0 307036552 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual X X X true RUFFALO NOEL LEVITZ INC BOX 718 DES MOINES IL 50303 FUNDRAISING CONSULTANT false 278515 638312 -359797 278515 638312 -359797 CA CO CT DC FL GA AL HI IL KS KY LA ME AK MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN VA AR WA WV WI true UB Foundation Activities Inc BOX 900 Buffalo NY 14226 161372561 501(c)(3) 77561993 0 N/A N/A Educational Support 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds 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. false false false false false false false false false ANASTACIA S KNAPPER CHIEF EXECUTIVE OFFICER 0 389550 0 0 0 0 0 46364 0 27911 0 463825 0 0 PATRICK RICHEY CHIEF FINANCIAL OFFICER 0 270017 0 0 0 0 0 31835 0 515 0 302367 0 0 Schedule J, 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. 2 4200 Other - APPRAISAL 1 8000 Other - APPRAISAL 22 1292020 Other - DONOR AGREEMENT 68 2446204 Other - QUOTED MARKET PRICE X DINNERS/ENTERTAINMENT 3 4379 Cost X EQUIPMENT 17 360676 Cost X SUPPLIES 4 8940 Cost 0 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THE ORGANIZATION USES A BROKER TO SELL GIFTS OF MARKETABLE SECURITIES. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Art - Historical treasures - THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Intellectual property - THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Other - DINNERS/ENTERTAINMENT THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Other - EQUIPMENT THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Other - SUPPLIES THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Securities - Publicly traded - THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). Form 990, Part I, Line 1 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. Form 990, Part VI, Line 11b Review of form 990 by governing body 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 MADE AVAILABLE TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE. Form 990, Part VI, Line 12c Conflict of interest policy 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, Line 19 Required documents available to the public 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.CANDID.ORG. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN ACTUARIAL VALUE - 1846160; Total - 1846160; UB FOUNDATION ACTIVITIES INC BOX 900 BUFFALO NY 14226 161372561 EDUCATION SVC NY 501(c)(3) 7 NA true UB FOUNDATION SERVICES INC BOX 900 BUFFALO NY 14226 161331699 EDUCATION SVC NY 501(c)(3) 10 NA true UBF CORPORATION BOX 900 BUFFALO NY 14226 510164454 EDUCATION SVC NY 501(c)(2) NA true FNUB INC BOX 900 BUFFALO NY 14226 161537468 EDUCATION SVC NY 501(c)(3) 7 NA true UNIV AT BUFFALO FOUND INCUBATOR INC BOX 900 BUFFALO NY 14226 161301210 EDUCATION SVC NY 501(c)(3) Type III-FI NA true UBF FACULTY - STUDENT HOUSING CORP BOX 900 BUFFALO NY 14226 161372560 EDUCATION SVC NY 501(c)(3) 10 NA true CHARITABLE REMAINDER ANNUITY TRUST (2) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true CHARITABLE REMAINDER UNITRUST (13) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true false true true false false false false false false false false false false true true false false false false UB FOUNDATION ACTIVITIES INC B 77561993 ACCRUAL UB FOUNDATION ACTIVITIES INC C 1646139 ACCRUAL