2015-05-11T12:51:03-05:00 2014-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2013-07-01 160865182 UNIVERSITY AT BUFFALO FOUNDATION INC % EDWARD P SCHNEIDER UNIV 7166453011 BOX 900 Suite BUFFALO NY 142260900 EDWARD P SCHNEIDER EXECUTIVE DIRECTOR 7166453011 2015-05-10 true TARA D'AGOSTINO P01245482 7166453011 2013 2016-03-07 17:11:31Z EDWARD P SCHNEIDER BOX 900 BUFFALO NY 142260900 112100128 false X WWW.UBFOUNDATION.BUFFALO.EDU 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. 20 20 0 56 -742185 -888506 26213294 33163383 441749 494053 39958991 31423391 -24125 -55933 66589909 65024894 50353381 45264844 0 0 0 0 0 0 0 4360586 4315190 54713967 49580034 11875942 15444860 799614398 910443090 159114023 167320873 640500375 743122217 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 45264844 45264844 494053 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. 3506391 17034979 INVESTMENTS ARE MANAGED UNDER THE SUPERVISION OF UBF'S BOARD INVESTMENT COMMITTEE. MORE THAN FIFTY 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 $855,988,478 AT JUNE 30, 2014, THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO. 808799 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. 49580034 true true false false false false false true true true true true false false true true false true false false true false false false true false false true false true false false false false false false false false true true false false false true true true false false true 1 0 true 0 true true false false false false true true false false false false X 20 20 false 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 142260900 RAVINDAR BANSAL DIRECTOR 1.0 4.0 X 0 0 0 GREGORY BAUER DIRECTOR 1.0 2.0 X 0 0 0 GARY BICHLER DIRECTOR 1.0 4.0 X 0 0 0 THOMAS BLACK DIRECTOR 1.0 4.0 X 0 0 0 WAYNE BLANK DIRECTOR 1.0 0.0 X 0 0 0 HELEN CAPPUCCINO DIRECTOR 1.0 0.0 X 0 0 0 RANDALL CLARK DIRECTOR 1.0 2.0 X 0 0 0 MICHAEL CROPP DIRECTOR 1.0 2.0 X 0 0 0 ROBERT DENNING TREASURER/DIRECTOR 1.0 2.0 X X 0 0 0 BEVERLY FOIT-ALBERT DIRECTOR 1.0 4.0 X 0 0 0 JUDITH ITTIG DIRECTOR 1.0 4.0 X 0 0 0 ASHOK KAVEESHWAR DIRECTOR 1.0 0.0 X 0 0 0 ROSS KENZIE DIRECTOR 1.0 2.0 X 0 0 0 FRANCIS LETRO CHAIR/DIRECTOR 2.0 0.0 X X 0 0 0 ANTHONY MARTINO DIRECTOR 1.0 2.0 X 0 0 0 GERALD MAZURKIEWICZ DIRECTOR 1.0 2.0 X 0 0 0 MURRAY ROSENTHAL DIRECTOR 1.0 0.0 X 0 0 0 EILEEN SILVERS DIRECTOR 1.0 2.0 X 0 0 0 SATISH TRIPATHI DIRECTOR 1.0 0.0 X 0 0 0 MARGARET WONG DIRECTOR 1.0 0.0 X 0 0 0 LAWRENCE ZIELINSKI DIRECTOR 1.0 2.0 X 0 0 0 RICHARD HEATH SECRETARY 1.0 0.0 X 0 0 0 EDWARD SCHNEIDER EXECUTIVE DIRECTOR 20.0 40.0 X 0 192449 47744 0 192449 47744 0 false true false MERCER 101 SOUTH HANLEY ROAD ST LOUIS MO 63105 INVST. CONSULTANT 834935 SILCHESTER INTERNATIONAL INVESTORS 780 THIRD AVENUE 42ND FLOOR NEW YORK NY 10017 ASSET MANAGEMENT 350980 DRUM CAPITAL 107 ELM STREET 11-1 STAMFORD CT 06902 ASSET MANAGEMENT 221273 AXIOM INTERNATIONAL INVESTORS 33 BENEDICT PLACE GREENWICH CT 06830 ASSET MANAGEMENT 186364 ANCHORAGE CAPITAL 610 BROADWAY NEW YORK NY 10012 ASSET MANAGEMENT 162650 11 43075 207762 32912546 3129508 33163383 VARIOUS SUPPORT PROGRAMS 611710 494053 494053 494053 13895067 -1235530 15130597 0 0 0 0 0 0 0 64451650 0 46923326 17528324 0 17528324 17034979 493345 95975 207762 151908 -55933 -55933 0 0 0 0 65024894 17529032 -742185 15074664 45264844 45264844 0 0 0 0 0 0 0 0 0 0 0 2247 2247 0 0 0 0 3506391 3506391 0 0 0 0 0 0 0 0 0 0 0 2500 2500 0 ACADEMIC SUPPORT 614549 614549 ADMINISTRATIVE SUPPORT 154264 154264 ALUMNI SUPPORT 146 146 TAXES AND FILING FEES 35093 35093 49580034 49580034 0 0 527913 797841 0 0 33803318 40492239 1621159 1791427 0 0 0 0 1603104 1591388 0 0 0 0 6058137 6051887 8750 6250 422361039 490392339 330017748 365596139 0 0 0 0 9671367 9775467 799614398 910443090 563866 525892 0 0 0 0 0 0 6758724 8315079 0 0 0 0 0 0 151791433 158479902 159114023 167320873 X 93394746 126559555 394982119 455150268 152123510 161412394 640500375 743122217 799614398 910443090 X 15444860 84214512 2962470 X false true X true false X 18370648 65679868 42135205 26213294 33163383 185562398 0 0 18370648 65679868 42135205 26213294 33163383 185562398 43075549 142486849 9202934 10592350 10627197 12723944 15130597 58277022 0 0 0 68417 106010 95975 270402 244109822 1579240 0.58370 0.58480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 104100 9775467 X X X X false false true X 554392383 11135891 87561824 3241052 22458999 2599372 624790675 511019818 7726217 61466694 3056716 20873265 1890365 554392383 494791126 46506700 1280283 3866448 26015974 1675869 511019818 428851098 9186963 83532204 2867435 22349075 1562629 494791126 410463565 3627009 41282787 2569671 21079376 2873216 428851098 0.53352 0.22561 0.24087 true false 6045637 6045637 12500 6250 6250 6250 NON-PUBLIC FIXED INCOME 315887 F NON-PUBLIC EQUITY 64737411 F NON-PUBLIC FIXED INCOME 91296583 F NON-PUBLIC EQUITY 159200719 F PRIVATE EQUITY PARTNERSHIPS 47645682 F HEDGE FUNDS 2399857 F 365596139 0 ANNUITY AND LIFE INCOME PAYABLE 6051742 PAYABLE TO AFFILIATES 152428160 158479902 X 152353784 84214512 2962470 87176982 65176802 -151908 -151908 65024894 49731942 151908 151908 49580034 49580034 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) OR 509(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, 2014. UBF HAS GENERATED UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2014, BUT IT IS NOT MATERIAL TO THE AUDITED FINANCIAL STATEMENTS. OTHER REVENUE INCLUDED IN F/S BUT NOT INCLUDED ON FORM 990 PART XI, LINE 2D CHANGE IN ACTUARIAL VALUE...................................$2,962,470 OTHER REVENUE INCLUDED ON FORM 990 NOT IN F/S PART XI, LINE 4B RECLASS OF FUNDRAISING EXPENSES.............................($151,908) OTHER EXPENSES INCLUDED IN F/S BUT NOT INCLUDED ON FORM 990 PART XII, LINE 2D RECLASS OF FUNDRAISING EXPENSES...............................$151,908 Europe (Including Iceland and Greenland) INVESTMENTS 18682230 Central America and the Caribbean INVESTMENTS 146049745 164731975 164731975 true false true true true false ANNUAL GALA 303737 207762 95975 13714 16978 34440 86776 0 303737 207762 95975 13714 16978 34440 86776 151908 -55933 true UB FOUNDATION ACTIVITIES INC BOX 900 BUFFALO NY 14226 161372561 501(C)(3) 45264844 EDUCATION SUPPORT 1 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., A RELATED ORGANIZATION, AND MONITORS THE USE OF THE FUNDS TO ENSURE THEY ARE SPENT ACCORDING TO DONOR RESTRICTIONS. false false false false false false false false false EDWARD SCHNEIDER EXECUTIVE DIRECTOR 0 192449 0 0 0 0 0 28444 0 19300 0 240193 0 0 COMPENSATION PART I AND PART II UNIVERSITY AT BUFFALO, 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 1250 APPRAISALS X 2 30450 APPRAISALS X 74200 APPRAISALS X 22784 APPRAISALS X 1 9800 COST X 102 2837284 QUOTED PRICE X 1 600 APPRAISALS X 8 41264 APPRAISALS X EQUIPMENT 2 73510 APPRAISALS X GRAPHIC DESIGN 1 15000 APPRAISALS X TICKETS 1 1000 COST X DINNERS/CATERING 16 22366 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). 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 OF CONFLICTS 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. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CHANGE IN ACTUARIAL VALUE.....................................$2,962,470 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) 9 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) 9 NA true UNIV AT BUFFALO FOUND INCUBATOR INC BOX 900 BUFFALO NY 14226 161301210 EDUCATION SVC NY 501(C)(3) 11C III-FI NA true UBF FACULTY - STUDENT HOUSING CORP BOX 900 BUFFALO NY 14226 161372560 EDUCATION SVC NY 501(C)(3) 9 NA true CHARITABLE REMAINDER ANNUITY TRUST (5) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true CHARITABLE REMAINDER UNITRUST (19) BOX 900 BUFFALO NY 14226 EDUCATION NY NA Trust true true true false true false true false false false false false false false true true false false false false CRUT a 11251 ACCRUAL CRUT f 361834 ACCRUAL CRAT f 12752 ACCRUAL UB FOUNDATION ACTIVITIES INC b 45264844 ACCRUAL UBF FACULTY - STUDENT HOUSING CORP d 77997617 ACCRUAL