Civic Intelligence

Fnub Inc.

990 • Fiscal year 2015 • EIN 16-1537468

Jul 01, 2014 to Jun 30, 2015 • Filed on May 11, 2016

Organization ProfileWWW.UB-FOUNDATION.ORG
Box 900Buffalo, NY 14226

(716) 645-3011

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

0.39x

Higher debt load relative to assets than 96% of similar nonprofits.

2015 filings • NTEE T • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

2.60x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • NTEE T • $10M-$25M nonprofits • Source year 2015

Net Margin

71st percentile

52%

Higher net margin than 71% of similar nonprofits.

2015 filings • NTEE T • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

94th percentile

$255,163

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2015 filings • NTEE T • $10M-$25M nonprofits • Source year 2015

Asset Growth

32nd percentile

-2.1%

Faster asset growth than 32% of similar nonprofits.

2015 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

17th percentile

-60%

Faster revenue growth than 17% of similar nonprofits.

2015 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$18,057,718

Down $381,305 (-2.1%) from 2014

Net Assets

Up

$10,962,626

Up $1,239,831 (+13%) from 2014

Liabilities

Down

$7,095,092

Down $1,621,136 (-19%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin71st percentile

Revenue

Down

$2,727,651

Down $4,030,744 (-60%) from 2014

Expenses

Down

$1,313,337

Down $2,420,597 (-65%) from 2014

Net Income

Down

$1,414,314

Down $1,610,147 (-53%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $27,921,775Liabilities 2011: $23,000,021Net Assets 2011: $4,921,7542011Assets 2012: $31,941,386Liabilities 2012: $27,125,650Net Assets 2012: $4,815,7362012Assets 2013: $34,198,370Liabilities 2013: $27,122,635Net Assets 2013: $7,075,7352013Assets 2014: $18,439,023Liabilities 2014: $8,716,228Net Assets 2014: $9,722,7952014Assets 2015: $18,057,718Liabilities 2015: $7,095,092Net Assets 2015: $10,962,6262015Assets 2016: $16,807,189Liabilities 2016: $6,130,034Net Assets 2016: $10,677,1552016Assets 2017: $16,674,625Liabilities 2017: $6,406,230Net Assets 2017: $10,268,3952017Assets 2018: $13,925,768Liabilities 2018: $6,736,612Net Assets 2018: $7,189,1562018Assets 2019: $14,579,257Liabilities 2019: $6,664,581Net Assets 2019: $7,914,6762019Assets 2020: $14,480,905Liabilities 2020: $6,374,099Net Assets 2020: $8,106,8062020Assets 2021: $15,260,522Liabilities 2021: $7,264,759Net Assets 2021: $7,995,7632021Assets 2022: $15,906,906Liabilities 2022: $6,801,663Net Assets 2022: $9,105,2432022Assets 2023: $19,274,040Liabilities 2023: $7,439,357Net Assets 2023: $11,834,6832023Assets 2024: $14,850,962Liabilities 2024: $6,817,709Net Assets 2024: $8,033,2532024

Highlighted filing

2015

Assets$18,057,718
Liabilities$7,095,092
Net Assets$10,962,626
Open 2015 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $3,861,001Expenses 2011: $6,343,713Net Income 2011: -$2,482,7122011Revenue 2012: $2,631,760Expenses 2012: $2,604,778Net Income 2012: $26,9822012Expenses 2013: $2,803,9072013Revenue 2014: $6,758,395Expenses 2014: $3,733,934Net Income 2014: $3,024,4612014Revenue 2015: $2,727,651Expenses 2015: $1,313,337Net Income 2015: $1,414,3142015Revenue 2016: $721,030Expenses 2016: $1,280,490Net Income 2016: -$559,4602016Revenue 2017: $925,770Expenses 2017: $1,334,530Net Income 2017: -$408,7602017Revenue 2018: $323,377Expenses 2018: $3,402,616Net Income 2018: -$3,079,2392018Revenue 2019: $2,207,440Expenses 2019: $1,481,920Net Income 2019: $725,5202019Revenue 2020: $1,514,651Expenses 2020: $1,322,521Net Income 2020: $192,1302020Revenue 2021: $1,161,928Expenses 2021: $1,272,971Net Income 2021: -$111,0432021Revenue 2022: $2,139,864Expenses 2022: $1,030,384Net Income 2022: $1,109,4802022Revenue 2023: $4,274,626Expenses 2023: $1,545,186Net Income 2023: $2,729,4402023Revenue 2024: $1,725,249Expenses 2024: $5,526,679Net Income 2024: -$3,801,4302024

Highlighted filing

2015

Revenue$2,727,651
Expenses$1,313,337
Net Income$1,414,314
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 11, 2016
Return Version
2014v6.0
Gross Receipts
$3,353,905
Mission and Program Overview

Mission

The mission of the organization is to perform administrative and other activities for the university at buffalo and its related organizations in support of the charitable and educational purposes of the university.

To perform administrative and other activities for the university at buffalo and its related organizations in support of the charitable purposes of the university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,322,328$16,102,960▼ $1,219,368
Cash and Non-Interest-Bearing Accounts$771,409$154,057▼ $617,352
Accounts Receivable$63,746$69,976▲ $6,230
Prepaid Expenses and Deferred Charges$40,791$0▼ $40,791
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$18,439,023$18,057,718▼ $381,305
Other Assets Total$240,749$1,730,725▲ $1,489,976
Liabilities
Other Liabilities$8,551,082$7,010,663▼ $1,540,419
Accounts Payable and Accrued Expenses$165,146$84,429▼ $80,717
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$8,716,228$7,095,092▼ $1,621,136
Net Assets / Fund Balance
Unrestricted Net Assets$9,652,352$11,066,665▲ $1,414,313
Temporarily Rstr Net Assets$169,950$169,950→ $0
Permanently Rstr Net Assets$-99,507$-273,989▼ $174,482
Total Net Assets Fund Balance$9,722,795$10,962,626▲ $1,239,831
Total Liabilities and Net Assets / Fund Balance$18,439,023$18,057,718▼ $381,305

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,769,047$6,350,824$16,119,871
Land$5,395,865-$5,395,865
Leasehold Improvements$933,169$893,045$1,826,214
Equipment$4,879$91,845$96,724
Other Assets Org$1,730,725--
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
Beverly Foit-albertChair/director
Daniel HamisterDirector
Gary BichlerDirector
Jean PowersDirector
Jordan LevyDirector
Judith IttigDirector
Ravindar BansalDirector
Ronald SchreiberDirector
Sheldon BerlowDirector
Thomas BlackDirector
Edward SchneiderExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$406,144
Program Service Revenue
$253,731
Investment Income
$2,067,776
Other Revenue
$0
All Other Contributions
$216,256
Change in Net Assets
$1,414,314

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,727,651
Revenue Not Reported on Form 990
$-174,483
Total Revenue per Audited Statements
$2,553,168
Total Revenue per Form 990
$2,727,651
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,121,789
Grants and Similar Amounts Paid$191,548
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$658,674--$658,674
Occupancy$450,970--$450,970
Grants to Domestic Orgs$191,548--$191,548
Fees for Services Legal$6,145--$6,145
Fees for Services Management$6,000--$6,000
Total Functional Expenses$1,313,337$0$0$1,313,337

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,313,337
Total Expenses per Audited Statements$1,313,337
Total Expenses per Form 990$1,313,337
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ub Foundation Activities IncBuffalo, NY501(c)(3)Educational Support$191,548
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to Ub Foundation Activities$5,999,455
Annuity and Life Income Payable$1,011,208
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Fnub Inc
EIN
16-1537468
In Care Of
% EDWARD P SCHNEIDER
Phone
7166453011
Address
BOX 900, BUFFALO, NY 14226

Signing Officer

Name
Edward P Schneider
Title
Executive Director
Phone
7166453011
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward P Schneider
Formed
1997
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Kpmg Llp
Address
60 South Street, Boston, MA 02111
Preparer
TARA D'AGOSTINO
Phone
6179881000
Supplemental Narrative

Additional Explanations

Significant Changes to Bylaws

“Form 990, part vi, line 4 fnub, inc. Amended its bylaws to comply with the new york state non profit revitalization act of 2013 effective november 7, 2014. This included adding a section describing the composition and procedures of the audit committee.”

Form 990 Review Process

“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 990 is then performed by the organizations 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.”

Explanation of Monitoring and Enforcement of Conflicts

“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. 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.”

Other Organization Documents Publicly Available

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

Other Changes in Net Assets

“Form 990, part xi, line 9 change in actuarial value ($174,483)”

Financial Statement Notes

Fin 48 (asc 740) Footnote

“Part x, line 2 the internal revenue service has ruled that fnub, 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. Fnub, 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 30, 2015.”

Other Revenue Included in F/S But Not on Form 990

“Part xi, line 2d change in actuarial value ($174,483)”

Raw XML AppendixShowing 400 of 637 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPORT FOR THE EDUCATIONAL INITIATIVES OF THE UNIVERSITY AT BUFFALO.
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IRS990/ProgSrvcAccomActy3Grp/Desc0UB DOWNTOWN GATEWAY - OPERATION OF A BUILDING LOCATED IN THE CITY OF BUFFALO WHICH WILL PLAY AN INTEGRAL ROLE IN THE EXPANSION OF THE UNIVERSITY AT BUFFALO AND A CRITICAL PART OF THE BUFFALO MEDICAL CORRIDOR.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM AFFILIATE

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,057,718
Liabilities
$7,095,092
Net assets
$10,962,626
Revenue
$2,727,651
Expenses
$1,313,337
Net income
$1,414,314
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.9$6.82$8.03$1.73$5.53$3.80
2023Detailed filing. Detailed filing data is available for this year.$19.3$7.44$11.8$4.27$1.55$2.73
2022Detailed filing. Detailed filing data is available for this year.$15.9$6.80$9.11$2.14$1.03$1.11
2021Detailed filing. Detailed filing data is available for this year.$15.3$7.26$8.00$1.16$1.27$0.11
2020Detailed filing. Detailed filing data is available for this year.$14.5$6.37$8.11$1.51$1.32$0.19
2019Detailed filing. Detailed filing data is available for this year.$14.6$6.66$7.91$2.21$1.48$0.73
2018Detailed filing. Detailed filing data is available for this year.$13.9$6.74$7.19$0.32$3.40$3.08
2017Detailed filing. Detailed filing data is available for this year.$16.7$6.41$10.3$0.93$1.33$0.41
2016Detailed filing. Detailed filing data is available for this year.$16.8$6.13$10.7$0.72$1.28$0.56
2015Detailed filing. Detailed filing data is available for this year.$18.1$7.10$11.0$2.73$1.31$1.41
2014Detailed filing. Detailed filing data is available for this year.$18.4$8.72$9.72$6.76$3.73$3.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.2$27.1$7.08$2.80
2012Summary only. Only limited summary data is available for this year.$31.9$27.1$4.82$2.63$2.60$0.03
2011Summary only. Only limited summary data is available for this year.$27.9$23.0$4.92$3.86$6.34$2.48