U B Foundation Activities Inc.

“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 the audit committee's review, the form 990 is provided to the full board of directors, also prior to the filing of the return with the internal revenue service.”

“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 and legal counsel. 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 indentified conflict.”

“Compensation policy 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 judgement. 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.”

“Other organization documents publicly available 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.”

“Compensation of highest compensated employees 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."”

“Organization's mission or significant activities the mission of ubfa is to undertake and perform activities in support of the educational purposes of the state university of new york at buffalo and its various affiliations.”

“Total number of individuals employed 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.”

“Artist fee: program service expenses 6,207. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,207. Student health insurance : program service expenses 6,328,286. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,328,286. Other: program service expenses 2,786,307. Management and general expenses 239,767. Fundraising expenses 980,725. Total expenses 4,006,799. Repairs & maintenance: program service expenses 1,921,628. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,921,628. Consulting: program service expenses 1,046,997. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,046,997. Medical/dental support: program service expenses 185,205. Management and general expenses 0. Fundraising expenses 0. Total expenses 185,205.”