2021-05-14T08:45:56-05:00 2020-06-30 KPMG LLP 515 Broadway 4th Floor Albany NY 12207 990 2019-07-01 160865182 UNIVERSITY AT BUFFALO FOUNDATION INC % EDWARD P SCHNEIDER UNIV 7166453011 BOX 900 BUFFALO NY 142260900 EDWARD P SCHNEIDER EXECUTIVE DIRECTOR 7166453011 2021-05-11 true STEPHANIE LONCZAK P01880207 5184274600 2019 2022-09-23 18:48:47Z EDWARD P SCHNEIDER BOX 900 BUFFALO NY 142260900 342223266 false 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 23 -144026 -734534 38317138 25531445 121558 46422 15524458 20365499 0 0 53963154 45943366 65598390 57047380 0 0 0 0 0 0 0 10003673 9249762 75602063 66297142 -21638909 -20353776 1129441836 1104161290 216046850 213991768 913394986 890169522 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 57047380 57047380 46422 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. 7371939 10172215 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 $1,041,703,882 AT JUNE 30, 2020, THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. 1857393 0 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. 66276712 true true false false false false false true true true true true false false true true false true false false true false false false false false false true false true false false false false false false false false true true false false false true true true false false true 43 0 true 0 true true false false false false true true false false false false false false X 23 23 true false false false false false false true true false false true true true true true true false false true true NY X X EDWARD P SCHNEIDER 7166453011 BOX 900 BUFFALO NY 14226 EDWARD SCHNEIDER EXECUTIVE DIRECTOR 20.0 40.0 X 0 246535 51065 SAMANTHA BONANO TRUSTEE 1.0 0.0 X 0 0 0 ROBERT DENNING TREASURER/TRUSTEE 1.0 2.0 X X 0 0 0 GREGG FISHER TRUSTEE 1.0 0.0 X 0 0 0 CLAUDIA FOSKET TRUSTEE 1.0 4.0 X 0 0 0 KATHLEEN GRIMM TRUSTEE 1.0 4.0 X 0 0 0 DANIEL HAMISTER TRUSTEE 1.0 4.0 X 0 0 0 LOUIS JACOBS TRUSTEE 1.0 0.0 X 0 0 0 KATHIE KELLER TRUSTEE 2.0 0.0 X 0 0 0 DALE McKIM III TRUSTEE 2.0 0.0 X 0 0 0 DAVID PFALZGRAF TRUSTEE 1.0 2.0 X 0 0 0 VIKKI PRYOR TRUSTEE 1.0 0.0 X 0 0 0 THOMAS QUEALY TRUSTEE 1.0 0.0 X 0 0 0 NAGENDRA RAINA TRUSTEE 1.0 2.0 X 0 0 0 JUSTIN REICH TRUSTEE 1.0 0.0 X 0 0 0 AMY HABIB RITTLING TRUSTEE 1.0 0.0 X 0 0 0 MURRAY ROSENTHAL TRUSTEE 1.0 0.0 X 0 0 0 STEVEN SHEPSMAN TRUSTEE 1.0 4.0 X 0 0 0 EILEEN SILVERS TRUSTEE 2.0 2.0 X 0 0 0 DANIEL SPERRAZZA TRUSTEE 1.0 0.0 X 0 0 0 SATISH TRIPATHI TRUSTEE 1.0 0.0 X 0 0 0 SCOTT WARMAN TRUSTEE 2.0 0.0 X 0 0 0 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 0 246535 51065 0 false true false MERCER ASSOCIATES 101 SOUTH HANLEY ROAD ST LOUIS MO 63105 INVST. CONSULTANT 782562 SILCHESTER INTERNATIONAL INVESTORS 780 THIRD AVENUE 42ND FLOOR NEW YORK NY 10017 ASSET MANAGEMENT 424532 K4 CAPITAL ADVISORS LP 2101 ROSECRANS AVE EL SEGUNDO CA 90245 ASSET MANAGEMENT 255107 HIG CAPITAL 601 LEXINGTON AVENUE NEW YORK NY 10022 ASSET MANAGEMENT 225362 CANYON REALIZATION FUND CAYMAN LT FORTIS PRIME FUND SOL PO BOX 2003 GRAND CAYMAN 0 CJ KY1-1104 ASSET MANAGEMENT 222224 21 686086 24845359 3553112 25531445 VARIOUS SUPPORT PROGRAMS 611710 46422 46422 46422 10193284 -144026 10337310 0 0 0 0 0 306452115 296279900 10172215 10172215 10172215 0 0 0 0 0 0 0 0 0 0 45943366 10218637 -144026 10337310 57047380 57047380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7371939 7371939 0 0 0 0 20430 20430 0 0 0 0 0 0 0 0 0 0 0 UNIVERSITY SUPPORT 1857393 1857393 66297142 66276712 20430 0 5658100 422248 0 0 48393193 43016647 383118 899746 0 0 0 0 1594716 2421169 0 0 0 0 7384143 7384143 475514035 458602280 582911396 583101602 0 0 0 0 14987278 15697598 1129441836 1104161290 75250 31484 0 0 0 0 0 0 11524540 12283154 0 0 0 0 0 0 204447060 201677130 216046850 213991768 X 168548642 154061004 744846344 736108518 913394986 890169522 1129441836 1104161290 X -20353776 -1222150 -1649538 X false true X true false X 55092680 37989942 37445442 38317138 25531445 194376647 0 0 55092680 37989942 37445442 38317138 25531445 194376647 25008022 169368625 10493967 16530745 20832503 12259767 10337310 70454292 0 46483 0 0 0 0 46483 264877422 867678 0.63942 0.63060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 710320 15697598 X X X X false false true X 797894689 15063213 9707746 4695337 29060348 788909963 724999677 64451188 40190707 4665626 27081257 797894689 659156156 33218732 62925344 4057259 26243296 724999677 600960825 10389677 77369084 3821018 25742412 659156156 619295674 10618131 -962044 3610772 24380164 600960825 0.52810 0.26340 0.20850 true false 7384143 7384143 OTHER SECURITIES 583101602 F 583101602 0 ANNUITY AND LIFE INCOME PAYABLE 10094792 PAYABLE TO AFFILIATES 191582338 201677130 X 35699739 -1222150 -1649538 -2871688 38571427 7371939 7371939 45943366 58925203 58925203 7371939 7371939 66297142 DESCRIPTION OF ORGANIZATION'S COLLECTIONS AND HOW FURTHERS EXEMPT PURPOSE PART III, LINE 4 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. ESCROW AND CUSTODIAL ARRANGEMENTS PART IV, LINE 2B UBF ADMINISTERS GIFTS AND ENDOWMENTS FOR OTHER STATE UNIVERSITY OF NEW YORK CAMPUSES AND ALSO ONE INSTITUTION THAT IS CONSIDERED AN AFFILIATED UNIVERSITY. INTENDED USES OF ENDOWMENT FUND PART V, LINE 4 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. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 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, 2020 OR 2019. OTHER REVENUE INCLUDED IN F/S BUT NOT INCLUDED ON FORM 990 PART XI, LINE 2D CHANGE IN ACTUARIAL VALUE...................................$-1,649,538 true Europe (Including Iceland and Greenland) Investments 19086474 Central America and the Caribbean Investments 172342817 191429291 191429291 true false true true true false true UB FOUNDATION ACTIVITIES INC BOX 900 BUFFALO NY 14226 161372561 501(C)(3) 55783380 N/A N/A EDUCATION SUPPORT UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR INC BOX 900 BUFFALO NY 14226 161537468 501(C)(3) 1264000 N/A N/A EDUCATION SUPPORT EDUCATION SUPPORT 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS IN U.S. PART I, LINE 2 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. AND UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR INC., BOTH RELATED ORGANIZATIONS, 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 EDWARD SCHNEIDER EXECUTIVE DIRECTOR 246535 29147 21918 297600 COMPENSATION PART I AND PART II 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 3 704000 APPRAISAL X 6320 APPRAISAL X 2 8000 APPRAISAL X 106 2278780 QUOTED MARKET PRICE X DINNERS/ENTERTAINMENT 1 1238 COST X EQUIPMENT 11 502837 COST X SUPPLIES 8 51937 COST 4 false true false CONTRIBUTIONS PART I, COLUMN (B) THE UNIVERSITY AT BUFFALO FOUNDATION, INC. REPORTS THE TOTAL NUMBER OF CONTRIBUTIONS IN COLUMN (B). USE OF THIRD PARTY PART I, LINE 32B THE ORGANIZATION USES A BROKER TO SELL GIFTS OF MARKETABLE SECURITIES. FAMILY AND BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 2 Trustee McKim and Trustee Pfalzgraf have a relationship in the normal course of business. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11B 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. EXPLANATION OF MONITORING AND ENFORCEMENT FORM 990, PART VI, LINE 12C 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 AND LEGAL COUNSEL. 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. OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE FORM 990, PART VI, LINE 19 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..................................($1,649,538) 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) N/A 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) 12C III-FI NA true UBF FACULTY - STUDENT HOUSING CORP BOX 900 BUFFALO NY 14226 161372560 EDUCATION SVC NY 501(C)(3) 10 NA true NONE CHARITABLE REMAINDER ANNUITY TRUST (5) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true CHARITABLE REMAINDER UNITRUST (20) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true true true true true false false false false false false false false false true true false false false true UB FOUNDATION ACTIVITIES INC b 55783380 ACCRUAL CHARITABLE REMINDER TRUSTS S 192725 ACCRUAL UNIV AT BUFFALO FOUND INCUBATOR INC b 1264000 ACCRUAL UB FOUNDATION ACTIVITIES INC C 686086 ACCRUAL UNIV AT BUFFALO FOUND INCUBATOR INC A 166 ACCRUAL