Board Member Responsibilities
Our board members bring much more than their business expertise to the table. These volunteers also serve as community ambassadors for the University at Buffalo, helping to grow the university’s reputation around the country, and around the world.
The work of our board cannot be understated, especially in light of the increasing level of endowments and other forms of philanthropic support. Through their oversight, our board members can continue to reassure donors that the funds entrusted to UB are managed with the utmost regard for fiscal prudence and fiduciary responsibility.
- May give advice and counsel on any and all matters affecting the UB Foundation
- May serve on UB Foundation committees
- Represent UB and the UB Foundation to the general public
- Fulfill general duties of care, loyalty and obedience
- Provide stewardship of the university’s privately held assets through managing and investing of gifts, grants and properties; provide financial advice and counsel; diligently monitor activities to ensure appropriate and demonstrable impact; and approve all major budgets and expenditures of the UB Foundation.
- Represent UB and the UB Foundation to the university’s many constituencies, regionally, nationally and globally; and advocate for the benefit of UB with individuals of influence in the public and private sectors. Increasingly, UB Foundation board members shall take responsibility for protecting and growing the critically important assets of the UB Foundation.
- Provide business assistance to UB. Less than 25% of the university’s operating budget comes from New York State. Accordingly, it is increasingly necessary for our board members to offer business acumen in management, flexibility and securing of private sector opportunities.
- Support University at Buffalo fundraising, including building the endowment. This includes assisting UB in acquiring resources, and in promoting a culture of philanthropy.
- Be knowledgeable of UB and its programs, strengths and aspirations. Participate actively in the alumni and fund-raising programs of UB and engage in campus events as time permits.
- Attend, either in person or by conference call, a minimum of two of the three board meetings per year (Fall, Winter and early Summer). Actively participate in person or by conference call on at least one of five primary committees, most of which meet four times annually. Provide experience and special expertise as abilities and time permit.
- Provide advice and counsel to UB on a broad range of issues
- Help share the needs of UB with the larger political and business communities
- Appoint the officers of the UB Foundation
- Establish our operating and investment policies
- Approve all budgets and major expenditures of the UB Foundation, while giving appropriate consideration to the needs of future generations
- Have a sole fiduciary responsibility to support UB in its programs and policies
“We believe in public service for public education.”
Fran Letro, Board chairman