U B Foundation Activities Inc.

“Form 990, part i, line 5 the number of w-2s reported in part i, line 5 represent the number of employees in which ub foundation activities, inc. Has direction and control. The majority of the w-2s issued by ub foundation activities, inc. Are for individuals who ub foundation activities, inc. Does not have direction and control. Direction and control is maintained by the university at buffalo and as such these individuals do not meet the common law rule of the employer/employee relationship between ub foundation activities, inc. And the individuals.”

“Form 990, part vi, line 11b 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, line 12c 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 and legal counsel when deemed necessary. 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, line 15a the process for determining the compensation of ub foundation activities, inc.'s top management and key employees meets the three requirements of the rebuttable presumption provisions under treas. Reg. Sec. 53.4958-6. The compensation arrangement is approved in advance by ub foundation activities, inc.'s finance committee who is independent of management and free of any conflicts of interest that would interfere with their exercise of independent judgment. In addition, the compensation of the executive director is determined and approved in advance by the president of the university at buffalo and chair of the board of the university at buffalo foundation, inc. For top management and key employees, except the executive director, comparability data was relied upon in determining compensation level. The comparability data included an annual study from a national employment firm, an annual survey from a local accounting firm, and review of public documents of similarly-sized organization. The finance committee, president, and board chair adequately and timely documented the basis for setting the compensation concurrently with making the determination.”

“Form 990, part vi, line 19 the financial statements, governing documents, and conflict of interest policy are available upon request. In addition, the financial statements and form 990 are available on the organization's website and the form 990 is available at www.guidestar.org.”

“Form 990, part vii, section a the individuals listed as "highest compensated employees" are paid by ub foundation activities, inc. And the taxable compensation for each is reported on form w-2. Ub foundation activities, inc. Has reported its highest compensated employees in which they have direction and control. In addition, ub foundation activities, inc. Has reported the university at buffalo's top 5 highest compensated employees in form 990, part vii in which direction and control is maintained by the university at buffalo. As such, these individuals do not meet the common law rule of the employer/employee relationship between ub foundation activities, inc. And the "highest compensated employees."”

“Form 990, part ix, line 24e, column (b) the following expenses are included in part ix, line 24e, column(b): rf reimbursement salary/fringe $1,487,350 all other expenses $1,909,404 ------------ total $3,396,754”

“(a) (b) (c) (d) total program management fundraising description fees service exp. And general expenses artist fee $732,510 $732,510 consultant $902,389 $902,389 facility upgrades $582,242 $582,242 lab services $350,645 $350,645 medical/dental $270,948 $270,948 personnel search $308,178 $308,178 speaker fees $142,500 $142,500 other $4,518,588 $4,123,473 $190,231 $204,884 total $7,808,000 $7,412,885 $190,231 $204,884”