Fnub INC FY2021 filing

Tax-deductible

Buffalo, NY501(c)(3)Since 1997Foundations & GrantmakersEIN 16-1537468

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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.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $24K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $2.2M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.3M
48% of total assets
Looks good: liabilities are 48% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-23% vs prior year
Spent
$1.3M
To programs
100%
Net assets
$8.0M
By yearFY2020–FY2024
Revenue
$1.2M
FY2021▼ -23%
Revenue by fiscal year
FY2020$1.5M
FY2021$1.2M
FY2022$2.1M
FY2023$4.3M
FY2024$1.7M
FY2024$18.6M
Expenses
$1.3M
FY2021▼ -4%
Expenses by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.0M
FY2023$1.5M
FY2024$5.5M
FY2024$4.2M
Net assets
$8.0M
FY2021▼ -1%
Net assets by fiscal year
FY2020$8.1M
FY2021$8.0M
FY2022$9.1M
FY2023$11.8M
FY2024$8.0M
FY2024$22.4M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2003.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.3M

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 (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fnub INC 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

Manages administrative tasks for the University at Buffalo and its related groups.

Provided by the organization

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2 program services account for $1.3M of program spending, described in the organization's own filed words · FY2020.
01

The organization owns and operates other real estate for the benefit of the university at buffalo. This real estate includes the residence of the university president, office space utilized by the university, and other tenants, a building that housed the university at buffalo educational opportunity center, tenant in common to a parking…

$1.2Mprogram expense
02

Support for the educational initiatives of the university at buffalo.

$41Kprogram expense

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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 · FY2024
Fnub INCFY2024$1.4M
Total grants receivedfrom 2 funders$2.2M
Grants paid · 6 grants · $5.6M · 2019–2024
Ub Foundation Activities INCNY · FY2024$1,433,441
Ub Foundation Activities INCFY2023$3,635,777
Ub Foundation Activities INCFY2022$207,097
Ub Foundation Activities INCFY2021$209,794
Ub Foundation Activities INCFY2020$40,868
Ub Foundation Activities INCFY2019$37,507

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$562K
Fees for servicesLn 2g$506K
Other incomeLn 4–11$81K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.3M
Owns and owesPt X
$8.0M
net assets · Ln 32
Cash and savingsLn 1–2$27K
Total assetsLn 16$15.3M
LiabilitiesLn 26$7.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$562K
Fees for servicesLn 2g$506K
Investment incomeLn 3$13K
Other incomeLn 4–11$81K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$27K
SavingsLn 2$0
Cash and savings togetherLn 1–2$27K
InvestmentsLn 11–13$117K
Land, buildings, equipmentLn 10c$8.1M
Other assetsLn 15$7.0M
Total assetsLn 16$15.3M
LiabilitiesLn 26$7.3M
Net assetsLn 32$8.0M
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
LineStart FY21End FY21
Cash and savingsLn 1–2$455K$27K
InvestmentsLn 11–13$0$117K
Land, buildings, equipmentLn 10c$8.6M$8.1M
Total assetsLn 16$14.5M$15.3M
LiabilitiesLn 26$6.4M$7.3M
Net assetsLn 32$8.1M$8.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$41K$41K
Lobbying feesLn 11d$84K$84K
OccupancyLn 16$614K$614K
Depreciation, depletion and amortizationLn 22$534K$534K
Total functional expensesLn 25$1.3M$1.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.7M$5.5M−$3.8M$8.0M 990 PDF
FY2023 $4.3M$1.5M$2.7M$11.8M 990 PDF
FY2022 $2.1M$1.0M$1.1M$9.1M 990 PDF
FY2021 Viewing $1.2M$1.3M−$111K$8.0M 990 PDF
FY2020 $1.5M$1.3M$192K$8.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,161,928 across 7 lines filed
VIII-1d Related organizations$152,583
VIII-1f All other contributions, gifts and grants$409,179
VIII-1h Total contributions, gifts and grants$561,762
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $506,378$506,378
VIII-3 Investment incomeExcluded from tax $13,188$13,188
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $80,600$80,600
VIII-12 Total revenueRelated to mission $586,978 · Unrelated business $0 · Excluded from tax $13,188$1,161,928
Part IX · Statement of functional expenses $1,272,971 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $40,868$40,868
IX-11d Lobbying feesPrograms $84,000$84,000
IX-16 OccupancyPrograms $614,407$614,407
IX-22 Depreciation, depletion and amortizationPrograms $533,696$533,696
IX-25 Total functional expensesPrograms $1,272,971 · Management $0 · Fundraising $0$1,272,971
Part X · Balance sheet $15,260,522 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $454,556$27,305
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $310,767$2,051
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year −$23,118−$31,707
X-10c Land, buildings and equipment, netStart of year $8,581,763$8,111,896
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$117,360
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $4,982,133$7,033,617
X-16 Total assetsStart of year $14,480,905$15,260,522
X-17 Accounts payable and accrued expensesStart of year $177,820$78,921
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $6,196,279$7,185,838
X-26 Total liabilitiesStart of year $6,374,099$7,264,759
X-27 Net assets without donor restrictionsStart of year $8,106,806$7,995,763
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $8,106,806$7,995,763
X-33 Total liabilities and net assetsStart of year $14,480,905$15,260,522
Part XI · Reconciliation of net assets $7,995,763 net assets at year end
XI-1 Total revenue$1,161,928
XI-2 Total expenses$1,272,971
XI-3 Revenue less expenses−$111,043
XI-4 Net assets at start of year$8,106,806
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,995,763

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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