The Research Foundation for the State University of New York

“The following individuals are or were members of the RF Board during the tax year and are also employed by The State University of New York (SUNY): Vice Chair Mitchell, Director Gintzler, Director Kress, Director Siegel, Director Smith, Director Stenger and Director Stanley. Dr. Kaloyeros, who is a key employee of the RF, is an employee of SUNY as well. Chair Fitzgibbons had a business relationship with Oscar Anderson, who left the board in January 2014. These business relationships are not reportable on Schedule L nor did they give rise to transactions reportable on Schedule L.”

“The Audit Committee of the Board of Directors reviews the Form 990 prior to submission according to the Audit Committee charter. The RF provided a complete copy of the final Form 990 (including all required schedules), as ultimately filed with the IRS, to each person who was a voting member of the governing body at the time the Form 990 was filed with the IRS.”

“The RF monitors conflicts of interest for directors, officers and key employees by doing an annual certification of business and family relationships. Any director with a relationship that may be perceived as constituting a conflict of interest will recuse him/herself from the vote on that issue. Under the RF's Conflict of Interest Policy and Management of Conflicts of Interest Procedure, if a potential conflict is identified, it is reviewed by an impartial individual or group with consultation as needed with the Chief Compliance Officer. If a conflict is determined to exist, a management plan is put in place to mitigate the conflict.”

“The process for determining the compensation of the organization's top management official, officers, and employees meets the requirements of the rebuttable presumption provision under Treas. Reg. 53.4958-6. The RF Board has designated the Executive Committee to act as the Compensation Committee for the RF according to the Executive Committee Charter. If the President was an RF employee, then under the RF's Executive Compensation Policy "Compensation for the RF President will be set by the RF Board of Directors." Since the current president is not an RF employee but is employed by SUNY his salary is determined by the SUNY Chancellor consistent with relevant New York law and SUNY regulations and policy set by the SUNY Board of Trustees. Other RF officers listed in Part VII are in fact RF employees and therefore subject to the RF's Executive Compensation Policy. That Policy additionally states, "Compensation of other RF Officers will be set by the RF President and will be reviewed for reasonableness by the RF Board of Directors in accordance with the Procedure for Reviewing Executive Compensation. The RF Board of Directors will review the reasonableness of Compensation of Key Employees, Top Five Highly Compensated Employees and Compensated Directors." This review of reasonableness is based upon appropriate benchmarking data provided by an independent compensation consultant. That consultant was retained by the Executive Committee during the tax year to gather comparable local market and national data to create benchmarks for all officer positions and the RF retains contemporaneous documentation of the compensation review and approval process in order to conform with the Treasury Department's rebuttable presumption rules under Treas. Reg. 53.4958-6. The RF President does not receive salary from the RF; his salary was paid by The State University of New York and was reimbursed by the RF.”

“The Research Foundation Charter, the 1977 Agreement with the State University of New York, the conflict of interest policy and the financial statements are all available on the RF's public Web site at www.rfsuny.org.”

“Compensation for directors who are also faculty members is unrelated to their activities as members of the board of directors. Such compensation is related to their role as principal investigators or research scientists, or as campus administrators. The RF paid direct compensation to Dr. Myron Mitchell as a principal investigator, and to Dr. David Smith and Dr. Harvey Stenger as campus administrators. Ms. Bonny Boice and Mr. Frank Gabriel performed service as officers during tax year 2012 and received compensation during calendar year 2013.”

“Part III, Line 4a - Program Service Accomplishments Research - The RF provides SUNY faculty and staff with administrative support for research grants and awards that are funded by sponsors (federal and state governments, private sector companies and nonprofit foundations). The administrative support includes services such as hiring personnel necessary to conduct the research, purchasing equipment and supplies, prefunding expenses prior to sponsor reimbursement and providing financial reports to the sponsors. These research grants and awards encompass a wide range of disciplines including in life sciences and medicine; engineering and nanotechnology; physical sciences and energy; social sciences, and computer and information sciences. The RF supported 4,654 research grants and awards that were conducted by 1,941 faculty members (principal investigators). This year, research at SUNY led to 293 invention disclosures, 70 U.S. patents, 47 license agreements,and 244 patent applications filed. Part III, Line 4b - Program Service Accomplishments Public Service - SUNY faculty and staff conduct various programs that benefit local communities and beyond such as providing workforce development services, educational and therapeutic services to children through early intervention programs and coordinating small business development center activities. Funding for these grants and programs is provided by sponsors to the RF on behalf of SUNY. The RF supports the faculty and staff by performing the following administrative tasks: hiring personnel the faculty need to help conduct the program, purchasing necessary equipment and supplies and reimbursing travel costs that are provided for by the grant, submitting financial reports required by the sponsors, and ensuring compliance with federal and state regulations and the sponsor's terms and conditions. The RF supported 341 SUNY faculty and staff by administering 1,042 grants and programs from July 1, 2013 to June 30, 2014. Part III, Line 4c - Program Service Accomplishments Training and Education - SUNY faculty and staff are awarded grants and contracts for training and education programs that help build skills and disseminate SUNY expertise. The programs are designed to help people of all ages in New York State and around the world, such as teachers and health care workers. The RF provides administrative services that allow SUNY faculty and staff to focus on these programs. These administrative services include: hiring personnel to help conduct programs, purchasing necessary equipment and supplies and reimbursing travel costs that are provided for by grant, submitting financial reports required by the sponsor, and ensuring compliance with federal and state regulations and the sponsor's terms and conditions. During the 2013 tax year, the RF administered 676 grants and contracts for training and educational programs on behalf of 380 SUNY faculty and staff. Under the program services included on lines 4A through 4C, the RF employed approximately 11,600 individuals. Part III, Line 4d - Other Program Services Description Other program services - The RF administers grants and contracts such as scholarships and fellowships for SUNY students that are funded by external sponsors. During the 2013 tax year, the RF administered 116 fellowship awards in support of SUNY students. Also included in other program services are services the RF provided to campus-related organizations across 31 SUNY locations and to RF affiliates - separate, private corporations that support campus goals to conduct collaborative research projects, empower small business incubation, and manage and develop real estate. The RF offers human resources/payroll and purchasing/payables administrative services to these organizations. Campus-related organizations are created to support SUNY's mission; examples of such organizations are campus foundations and clinical practice plans at the SUNY medical institutions. Approximately 2,600 individ”

“Other changes to net assets consist of a gain on an interest rate swap $14,717 and a post-retirement benefit related change to net assets of $5,525,727.”