University At Buffalo Foundation Inc
- Assets
- $1.2b
- Revenue
- $46.6m
- Investments
- $219.6m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 01/1963
- Data as of
- 06/2022
- EIN
- 16-0865182
Organization Overview
University At Buffalo Foundation Inc is located in Buffalo, NY. The organization was established in 1963. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University At Buffalo Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, University At Buffalo Foundation Inc generated $46.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $76.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
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.
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 $1,167,225,216 AT JUNE 30, 2022, THE PERFORMANCE OF THE PORTFOLIO IS ESSENTIAL TO THE EDUCATION MISSION OF THE STATE UNIVERSITY OF NEW YORK AT BUFFALO.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samantha Bonano Trustee | Trustee | 1 | $0 |
Robert Denning Treasurer/trustee | Trustee | 1 | $0 |
Gregg Fisher Trustee | Trustee | 1 | $0 |
Claudia Fosket Trustee | Trustee | 1 | $0 |
Kathleen Grimm Trustee | Trustee | 1 | $0 |
Daniel Hamister Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mercer Associates Invst. Consultant | 6/29/22 | $1,158,151 |
Hig Capital Asset Management | 6/29/22 | $671,185 |
Silchester International Investors Asset Management | 6/29/22 | $475,711 |
Viking Global Equities Asset Management | 6/29/22 | $340,240 |
K5 Capital Advisors Asset Management | 6/29/22 | $288,387 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,110 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,063,841 |
| Noncash contributions included in lines 1a–1f | $5,007,222 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,064,951 |
| Total Program Service Revenue | $25,254 |
| Investment income | $44,916,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,400,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,606,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,901,295 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,830,204 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $78,476 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,600,653 |
| Total functional expenses | $76,410,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,480 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $45,321,241 |
| Accounts receivable, net | $359,242 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,031,634 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $947,652,901 |
| Investments—other securities | $219,572,315 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,811,127 |
| Total assets | $1,234,149,940 |
| Accounts payable and accrued expenses | $26,478 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,791,604 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $191,168,065 |
| Total liabilities | $194,986,147 |
| Net assets without donor restrictions | $195,900,619 |
| Net assets with donor restrictions | $843,263,174 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,234,149,940 |
Grants Awarded
Over the last fiscal year, University At Buffalo Foundation Inc has awarded $57,047,380 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UB FOUNDATION ACTIVITIES INC PURPOSE: EDUCATION SUPPORT | $55,783,380 |
UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR INC PURPOSE: EDUCATION SUPPORT EDUCATION SUPPORT | $1,264,000 |