Ubf Faculty-Student Housing Corp: Nonprofit Profile, Financials & Form 990 (EIN 16-1372560)

Revenue by fiscal year
FY2020	$22.7M
FY2021	$20.0M
FY2022	$24.2M
FY2023	$33.4M
FY2024	$29.4M
FY2025	$29.5M

Expenses by fiscal year
FY2020	$20.4M
FY2021	$20.4M
FY2022	$20.7M
FY2023	$20.1M
FY2024	$21.0M
FY2025	$21.8M

Net assets by fiscal year
FY2020	$16.6M
FY2021	$18.2M
FY2022	$24.3M
FY2023	$38.8M
FY2024	$47.7M
FY2025	$55.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1990.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Part of a larger organization · Schedule R

Ubf Faculty-Student Housing Corp files its own Form 990, but Schedule R discloses 4 related entities — figures on this page are for this EIN only, not the whole group.

University at Buffalo Foundation INC · University at Buffalo Foundation Incubator INC · Fnub INC · Ubf Corporation · See Schedule R

Combined filings · FY2025 · 5 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 17% of group revenue.

Group revenue

$178.0M

Group expenses

$119.4M

Group net assets

$1.4B

University at Buffalo Foundation INC · $128.7M rev · $1.3B net assets

University at Buffalo Foundation Incubator INC · $588K rev · $1.1M net assets

Fnub INC · $18.6M rev · $22.4M net assets

Ubf Corporation · $681K rev · $2.5M net assets

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $21.8M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Steven H Shepsman

Chair/Director

$0Pt VII · Sec A

Daniel M Hamister

Director

$0Pt VII · Sec A

Danielle Shainbrown

Director

$0Pt VII · Sec A

David Chiazza

Director (until 1/3/2025)

$0Pt VII · Sec A

Jean Powers

Director

$0Pt VII · Sec A

Paul a Nussbaum

Director

$0Pt VII · Sec A

Ronald Schreiber

Director

$0Pt VII · Sec A

Terrence M Gilbride

Vice Chair/Director

$0Pt VII · Sec A

See Ubf Faculty-Student Housing Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds, renovates, and maintains student and faculty housing to support university education.

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Provided by the organization

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1 program · $21.8M · in their own filed words · FY2024

01

The organization constructs and operates housing for students of the state university of new york at buffalo. Adequate, affordable housing is a necessary component in fulfilling the educational purpose of the university.

$21.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2021

U B Foundation Activities INCFY2021$1.4M

Total grants receivedfrom 1 funder$1.4M

Grants paid · 6 grants · $5.6M · 2019–2024

Ub Foundation Activities INCNY · FY2024$740,000

Ub Foundation Activities INCNY · FY2023$740,000

Ub Foundation Activities INCNY · FY2022$740,000

Ub Foundation Activities INCNY · FY2021$740,000

Ub Foundation Activities INCNY · FY2020$1,910,000

Ub Foundation Activities INCNY · FY2019$740,000

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$29.5M

Ln 12

Fees for servicesLn 2g$29.5M

Investment incomeLn 3$6K

Money outPt IX

$21.8M

Ln 25

Programscol B$21.8M

Owns and owesPt X

$55.5M

net assets · Ln 32

Cash and savingsLn 1–2$54.8M

Total assetsLn 16$148.2M

LiabilitiesLn 26$92.7M

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$29.5M

Investment incomeLn 3$6K

Gains on assetsLn 7−$328K

Total revenueLn 12$29.5M

Assets in detailPt X, end of year

SavingsLn 2$54.8M

Cash and savings togetherLn 1–2$54.8M

Land, buildings, equipmentLn 10c$92.4M

Other assetsLn 15$126K

Total assetsLn 16$148.2M

LiabilitiesLn 26$92.7M

Net assetsLn 32$55.5M

OperationsPt I, VI

EmployeesI 50

VolunteersI 68

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$54.1M	$54.8M
Land, buildings, equipmentLn 10c	$91.8M	$92.4M
Total assetsLn 16	$147.3M	$148.2M
LiabilitiesLn 26	$99.5M	$92.7M
Net assetsLn 32	$47.7M	$55.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$740K	$740K
Management feesLn 11a	$6.0M	$6.0M
Accounting feesLn 11c	$1K	$1K
Other fees for servicesLn 11g	$78K	$78K	$0	$0
Office expensesLn 13	$13K	$13K
Information technologyLn 14	$75K	$75K
OccupancyLn 16	$8.3M	$8.3M
TravelLn 17	$4K	$4K
Conferences, conventions and meetingsLn 19	$1K	$1K
Depreciation, depletion and amortizationLn 22	$6.2M	$6.2M
Other expenses (24a–d)Ln 24	$392K	$392K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$21.8M	$21.8M	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$29.5M	$21.8M	$7.8M	$55.5M	990 PDF
FY2024	$29.4M	$21.0M	$8.5M	$47.7M	990 PDF
FY2023	$33.4M	$20.1M	$13.3M	$38.8M	990 PDF
FY2022	$24.2M	$20.7M	$3.5M	$24.3M	990 PDF
FY2021	$20.0M	$20.4M	−$480K	$18.2M	990 PDF
FY2020	$22.7M	$20.4M	$2.3M	$16.6M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $29,548,840 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $28,279,057$29,543,215

I-10 Investment incomePrior year $909,621$5,625

I-11 Other revenuePrior year $259,202$0

I-12 Total revenuePrior year $29,447,880$29,548,840

I-13 Grants and similar amounts paidPrior year $740,000$740,000

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $20,210,653$21,052,481

I-18 Total expensesPrior year $20,950,653$21,792,481

I-19 Revenue less expensesPrior year $8,497,227$7,756,359

Part VI · Governance 7 of 7 board members independent, 1 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $29,548,840 across 5 lines filed

VIII-1h Total contributions, gifts and grants$0

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,543,215$29,543,215

VIII-3 Investment incomeExcluded from tax $333,282$333,282

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$327,657−$327,657

VIII-12 Total revenueRelated to mission $29,543,215 · Unrelated business $0 · Excluded from tax $5,625$29,548,840

Part IX · Statement of functional expenses $21,792,481 across 12 lines filed

IX-1 Grants to domestic organizationsPrograms $740,000$740,000

IX-11a Management feesPrograms $5,969,560$5,969,560

IX-11c Accounting feesPrograms $1,080$1,080

IX-11g Other fees for servicesPrograms $78,375 · Management $0 · Fundraising $0$78,375

IX-13 Office expensesPrograms $13,402$13,402

IX-14 Information technologyPrograms $75,190$75,190

IX-16 OccupancyPrograms $8,292,175$8,292,175

IX-17 TravelPrograms $4,196$4,196

IX-19 Conferences, conventions and meetingsPrograms $1,474$1,474

IX-22 Depreciation, depletion and amortizationPrograms $6,224,609$6,224,609

IX-24 Other expenses (24a–d)Programs $392,420$392,420

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $21,792,481 · Management $0 · Fundraising $0$21,792,481

Part X · Balance sheet $148,211,777 assets, 13 lines filed

X-2 Savings and temporary cash investmentsStart of year $54,135,351$54,846,639

X-4 Accounts receivableStart of year $877,606$819,839

X-10c Land, buildings and equipment, netStart of year $91,777,865$92,418,945

X-15 Other assetsStart of year $478,923$126,354

X-16 Total assetsStart of year $147,269,745$148,211,777

X-17 Accounts payable and accrued expensesStart of year $4,433,817$2,984,011

X-19 Deferred revenueStart of year $464,284$481,455

X-20 Tax-exempt bond liabilitiesStart of year $92,810,168$87,428,476

X-25 Other liabilitiesStart of year $1,823,451$1,836,869

X-26 Total liabilitiesStart of year $99,531,720$92,730,811

X-27 Net assets without donor restrictionsStart of year $47,738,025$55,480,966

X-32 Total net assets or fund balancesStart of year $47,738,025$55,480,966

X-33 Total liabilities and net assetsStart of year $147,269,745$148,211,777

Part XI · Reconciliation of net assets $55,480,966 net assets at year end

XI-1 Total revenue$29,548,840

XI-2 Total expenses$21,792,481

XI-3 Revenue less expenses$7,756,359

XI-4 Net assets at start of year$47,738,025

XI-9 Other changes in net assets−$13,418

XI-10 Net assets at end of year$55,480,966

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Ubf Faculty-Student Housing Corp

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Ubf Faculty-Student Housing Corp

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV