As a private, independent organization supporting a public institution, we are committed to supporting UB’s vision, mission and priorities, while upholding our responsibilities to the public and donors. Our financial practices are a reflection of our values, and the values of the communities we serve.
A diverse revenue stream
We receive revenue from numerous sources that we manage for the betterment of the University at Buffalo, including:
- Investments—primarily returns from the substantial endowment
- Rental income—from student apartments and other university-affiliated property
- Program service revenue
- Gifts and bequests from donors
Contributions of cash and other financial assets: Funds and other assets donated
Contributions of nonfinancial assets: Other nonfinancial assets donated
Investment Revenue: Return on investments (primarily the endowment) that the UB Foundation manages for the betterment of UB
Program Service Revenue: Non-gift revenue from a variety of activities and services that support UB
Rental Income: Rent from student apartments and other properties owned by the UB Foundation
Other: Interest agreements and Interest rate swaps
Managing resources that support UB’s strategic goals
We play a key role in ensuring that UB has the resources needed to attract top students, faculty and researchers by providing a predictable revenue source and a wide range of financial services. The funds we provide are used wisely and in an impactful manner, as per the donor’s intentions, primarily at the direction of university leadership, faculty and staff in support of UB’s mission and goals.
Salary & Fringe for UB Directed Staff: Payroll and benefits for UB faculty and staff who are funded with UB Foundation resources
UB Travel, Conferences & Meetings: Funding for UB students, faculty and staff
Services for UB: Funding for services that support units throughout UB
Scholarships & Fellowships: Financial support for UB students
Equipment & Supplies for UB: Funding for UB unit purchases
Fundraising: Support for UB’s efforts to raise money from private sources
Real Estate Operated for the benefit of UB: Maintenance and other facility-related costs of properties owned by the UB Foundation for UB
Business Office Administration: Funding required to run the UB Foundation business operation
Other: Various expenditures that support UB
Transparency and accountability
We are committed to transparency and accountability, as appropriate. Our business practices exceed the requirements of state and federal laws, and we are audited both annually by an independent public accountant, and on a periodic basis by federal and state authorities.
990 TAX FORMS
Each entity included within the UB Foundation files a 990 form (for tax-exempt organizations) with the IRS.