2024-05-13T17:28:38-05:00 2023-06-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2022-07-01 161301210 UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR INC UNIV 7166453011 BOX 900 BUFFALO NY 142260900 PATRICK E RICHEY CHIEF FINANCIAL OFFICER 7166453011 2024-05-09 1 PATRICK RICHEY 999009999 1 MARILYN E FARLEY P01231880 6179881000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANASTACIA S KNAPPER BOX 900 BUFFALO NY 142260900 888027 0 X WWW.UBFOUNDATION.BUFFALO.EDU X 1988 NY THE ORGANIZATION OPERATES AN INCUBATOR FACILITY TO IDENTIFY AND AID START-UP BUSINESSES WITH A PURPOSE OF STIMULATING DEVELOPMENT AND INCREASING INTERACTION BETWEEN THE UNIVERSITY AT BUFFALO AND SUCH BUSINESSES. 8 8 0 9 0 0 0 343463 542734 544564 0 0 0 0 542734 888027 0 54600 0 0 0 0 0 0 0 612370 584841 612370 639441 -69636 248586 1153707 1291042 355068 243963 798639 1047079 THE ORGANIZATION OPERATES AN INCUBATOR FACILITY TO IDENTIFY AND AID START-UP BUSINESSES WITH A PURPOSE OF STIMULATING DEVELOPMENT AND INCREASING INTERACTION BETWEEN THE UNIVERSITY AT BUFFALO AND SUCH BUSINESSES. 0 0 639441 54600 544564 THE PURPOSE OF THE FACILITY IS TO IDENTIFY AND AID START-UP BUSINESS AND INDUCE SUCH BUSINESSES TO OCCUPY THE INCUBATOR FACILITY WITH THE PURPOSE OF INCREASING EMPLOYMENT, STIMULATING ECONOMIC DEVELOPMENT AND INCREASING THE INTERACTION BETWEEN THE STATE UNIVERSITY OF NEW YORK AT BUFFALO AND SUCH START-UP BUSINESSES. THE 40,000 SQUARE FOOT FACILITY WAS DESIGNED TO BE AND STILL IS FDA COMPLIANT, A CRITICAL STEP FOR COMPANIES DEVELOPING EITHER PHARMACEUTICAL PRODUCTS OR MEDICAL DEVICES. THE GRADUATES OF THE INCUBATOR REPRESENT A VARIETY OF TECHNOLOGIES INCLUDING SOFTWARE, ENGINEERING, SYNTHETIC INTELLIGENCE, ENVIRONMENTAL, EDUCATION, LASERS, PHOTONICS, PHARMACEUTICALS AND OTHERS. 639441 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X PATRICK E RICHEY 7166453011 BOX 900 BUFFALO NY 14226 SHELDON BERLOW DIRECTOR (UNTIL 1/12/23) 1.00 3.00 X 0 0 0 DAVID CHIAZZA DIRECTOR 1.00 3.00 X 0 0 0 CLAUDIA D FOSKET DIRECTOR 1.00 4.00 X 0 0 0 DANIEL HAMISTER VICE CHAIR/DIRECTOR 1.00 4.00 X 0 0 0 JEAN POWERS DIRECTOR 1.00 4.00 X 0 0 0 RONALD SCHREIBER DIRECTOR 1.00 3.00 X 0 0 0 DANIELLE SHAINBROWN DIRECTOR (AS OF 7/1/22) 1.00 3.00 X 0 0 0 STEVEN H SHEPSMAN CHAIR/DIRECTOR 1.00 4.00 X X 0 0 0 SUJATA YALAMANCHILI DIRECTOR 1.00 3.00 X 0 0 0 ANASTACIA KNAPPER CHIEF EXECUTIVE OFFICER 2.00 54.00 X 0 373671 64350 PATRICK RICHEY CHIEF FINANCIAL OFF (AS OF 12/12/22) 2.00 54.00 X 0 0 0 EDWARD SCHNEIDER FORMER EXECUTIVE DIRECTOR 0.00 0.00 X 0 252969 0 0 626640 64350 0 1 1 0 0 343463 343463 INCUBATOR PROGRAM 611710 544564 544564 544564 888027 544564 0 0 54600 54600 74918 74918 124 124 163822 163822 4192 4192 114221 114221 28921 28921 REPAIRS AND MAINTENANCE 125972 125972 CLEANING SERVICES 45756 45756 MATERIALS 18495 18495 FEES FOR SERVICES - OTH 8420 8420 639441 639441 0 0 116257 63129 0 0 0 0 -1053 -10452 0 0 0 0 0 0 0 0 16497 18295 8235427 7015383 1021834 1220044 0 0 172 26 0 0 0 0 0 0 1153707 1291042 6306 6593 0 0 0 0 0 0 0 0 0 0 0 0 0 0 348762 237370 355068 243963 X 798639 1047079 0 0 798639 1047079 1153707 1291042 248586 -146 0 X 0 1 X 1 0 X X 2 UNIVERSITY AT BUFFALO 146013200 6 1 584841 0 UNIVERSITY AT BUFFALO FOUNDATION 160865182 7 0 0 0 2 584841 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X PART IV, SECTION A, LINE 1 HISTORIC AND CONTINUOUS RELATIONSHIP UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR, INC. (UBFI) HAS TWO SUPPORTED ORGANIZATIONS: UNIVERSITY AT BUFFALO (UB) AND UNIVERSITY AT BUFFALO FOUNDATION (UBF). UB IS NAMED AS A SUPPORTED ORGANIZATION IN UBFI'S ORIGINAL CERTIFICATE OF INCORPORATION AND SUBSEQUENT AMENDMENTS. UBF IS NOT NAMED IN UBFI'S GOVERNING DOCUMENTS. HOWEVER, UBFI AND UBF HAVE A HISTORIC AND CONTINUOUS RELATIONSHIP. UBFI AND UBF SHARE THEIR NAME AND HAVE BEEN CLOSELY ASSOCIATED SINCE UBFI WAS FORMED IN 1988. UBFI'S BOARD OF DIRECTORS IS COMPRISED OF A MAJORITY OF TRUSTEES OF UBF. SERVING THE NEEDS OF THE UNIVERSITY AT BUFFALO REQUIRES HIGHLY SPECIALIZED SKILLS IN STRATEGIC AREAS. TO MEET THESE NEEDS, UBF TOGETHER WITH UBFI AND 5 OTHER AFFILIATES PROVIDE AN ARRAY OF SERVICES FOR THE UB COMMUNITY. PART IV, SECTION D, LINE 3 TYPE III SUPPORTING ORGANIZATION UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR, INC.'S (UBFI) SUPPORTED ORGANIZATIONS, UNIVERSITY AT BUFFALO AND UNIVERSITY AT BUFFALO FOUNDATION, HAVE A SIGNIFICANT VOICE IN UBFI'S INVESTMENT POLICIES AND DIRECTION OF INCOME OR ASSETS THROUGH ITS REPRESENTATIVES WHO SERVE AS DIRECTORS FOR UBFI. UNIVERSITY AT BUFFALO'S PRESIDENT APPOINTS AT LEAST ONE BOARD MEMBER OF UBFI. IN ADDITION, UBFI'S BOARD MUST BE COMPRISED OF A MAJORITY OF UNIVERSITY AT BUFFALO FOUNDATION'S BOARD MEMBERS. PART IV, SECTION E, LINE 1C TYPE III FUNCTIONALLY - INTEGRATED SUPPORTING ORGANIZATIONS UBFI ENGAGES IN AN ACTIVITY THAT SUBSTANTIALLY AND DIRECTLY FURTHERS THE EXEMPT PURPOSES OF UNIVERSITY AT BUFFALO (UB) AND THAT WOULD BE CARRIED OUT DIRECTLY BY UNIVERSITY AT BUFFALO, BUT FOR UBFI'S INVOLVEMENT. UBFI ORGANIZES AND OPERATES AN INCUBATOR FACILITY TO IDENTIFY AND AID START-UP BUSINESSES WITH A PURPOSE OF STIMULATING DEVELOPMENT AND INCREASING INTERACTION BETWEEN THE UNIVERSITY AT BUFFALO AND SUCH BUSINESSES. AS A PREMIER PUBLIC RESEARCH UNIVERSITY, THE UNIVERSITY AT BUFFALO IS ALSO HOME TO ONE OF THE NATION'S FIRST - AND MOST SUCCESSFUL - INCUBATORS OF ITS KIND. THE UB TECHNOLOGY INCUBATOR PROVIDES CRITICAL SUPPORT TO THE UB AND BUFFALO NIAGARA RESEARCH COMMUNITIES, GIVING EMERGING COMPANIES ACCESS TO KEY SERVICES INCLUDING FDA-COMPLIANT FACILITIES, OFFICE SPACE, WET LABS AND NETWORKING OPPORTUNITIES. THE TECHNOLOGY INCUBATOR HAS PLAYED AN INDISPENSABLE ROLE FOR UB, HELPING THE UNIVERSITY MAKE SIGNIFICANT PROGRESS IN COMMERCIALIZING UB RESEARCHER INVENTIONS, PROVIDING OPPORTUNITIES FOR ECONOMIC DEVELOPMENT THROUGHOUT WESTERN NEW YORK, AND IMPROVING THE QUALITY OF LIFE FOR PEOPLE ALL OVER THE WORLD. THE UB FOUNDATION SUPPORTS THE TECHNOLOGY INCUBATOR, WHICH IS LOCATED IN BAIRD RESEARCH PARK ACROSS FROM UB'S NORTH CAMPUS, THROUGH AN INNOVATIVE PARTNERSHIP BETWEEN NEW YORK STATE, UB AND UBFI. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 196101 196101 5720378 5710975 9403 1399954 857351 542603 827336 447057 380279 91658 91658 1220044 PAYABLE TO UBFA 237356 PAYABLE TO UB 14 237370 X 887881 -146 -146 888027 0 888027 639441 0 639441 0 639441 PART X, LINE 2: FIN 48 (ASC 740 FOOTNOTE) THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR, 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 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 INCUBATOR, 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 20, 2023 AND 2022. 1 UB FOUNDATION ACTIVITIES INC PO BOX 900 BUFFALO NY 14226 161372561 54600 0 EDUCATION SUPPORT 1 0 PART I, LINE 2: PROCEDURES FOR MONITORING USE OF GRANTS FUNDS IN U.S. UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR, INC.'S (UBFI) ASSISTANCE TO ORGANIZATIONS IN THE U.S. CONSISTS OF SUPPORT TO CHARITABLE ORGANIZATIONS. WHILE THE ORGANIZATION DOES NOT MONITOR THE USE OF THESE FUNDS, THE ORGANIZATION ONLY CONTRIBUTES TO OTHER CHARITABLE ORGANIZATIONS WHOSE MISSION AND WORK ARE WELL KNOWN BY THE ORGANIZATION AND ARE TRUE TO THEIR CHARITABLE PURPOSES. UBFI ONLY GIVES GRANTS TO AFFILIATED ORGANIZATIONS WHO ARE WORKING TO SUPPORT THE UNIVERSITY AT BUFFALO. 0 0 0 0 0 0 0 0 0 ANASTACIA KNAPPER CHIEF EXECUTIVE OFFICER 0 338671 0 35000 0 0 0 42661 0 21689 0 438021 0 0 EDWARD SCHNEIDER FORMER EXECUTIVE DIRECTOR 0 0 0 0 0 252969 0 0 0 0 0 252969 0 0 COMPENSATION PART I AND PART II UNIVERSITY AT BUFFALO FOUNDATION INCUBATOR, 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 OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS 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 DIRECTORS HAS DELEGATED THE REVIEW PROCESS TO THE AUDIT COMMITTEE OF THE UNIVERSITY AT BUFFALO FOUNDATION, INC., AN AFFILIATED ENTITY. 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. FORM 990, PART VI, SECTION B, LINE 12C EXPLANATION OF MONITORING AND ENFORCEMENT OF CONFLICTS 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. 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. FORM 990, PART VI, SECTION C, LINE 19 OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND THE FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. UNIVERSITY AT BUFFALO FOUNDATION INC BOX 900 BUFFALO NY 14226 160865182 EDUCATION SVC NY 501(C)(3) 7 N/A 0 UBF CORPORATION BOX 900 BUFFALO NY 14226 510164454 EDUCATION SVC NY 501(C)(2) N/A N/A 0 FNUB INC BOX 900 BUFFALO NY 14226 161537468 EDUCATION SVC NY 501(C)(3) 7 N/A 0 UBF FACULTY - STUDENT HOUSING CORP BOX 900 BUFFALO NY 14226 161372560 EDUCATION SVC NY 501(C)(3) 9 N/A 0 UNIVERSITY AT BUFFALO CROFTS HALL BUFFALO NY 14226 146013200 EDUCATION NY GOVT 6 N/A 0 248 NORTH LONG STREET INC BOX 900 BUFFALO NY 14266 161264031 RESIDENTIAL NY UBFI C 217561 1.00000 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0