BETA

UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION (EIN 36-4619281)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-05-09
IRS object ID
202531299349301513
Schema version
2023v6.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-09T08:57:11-05:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN161131146PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BONADIO & CO LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1171 SULLYS TRAILAddressLine1Txt
CityPITTSFORDCityNm
State AbbreviationNYStateAbbreviationCd
ZIP14534ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN364619281EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1UNIVERSITY AT ALBANY BIOSCIENCEBusinessNameLine1Txt
Business Name Line2DEVELOPMENT CORPORATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlUNIVBusinessNameControlTxt
Phone5184375090PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11400 WASHINGTON AVENUE UAB 226AddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12222ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRICHARD MCGINN JRPersonNm
Person TitleEXECUTIVE DIRECTORPersonTitleTxt
Phone5184375090PhoneNum
Signature2025-05-07SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGRACE GONZALEZPreparerPersonNm
PTINP01357170PTIN
Phone5853811000PhoneNum
Preparation2025-05-07PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerRICHARD MCGINN JRPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11400 WASHINGTON AVENUE UAB 226AddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12222ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$6,612,898GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.UABDC.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2007FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionSEE SCHEDULE OActivityOrMissionDesc
Voting Members Governing Body8VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers6TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$230,741PYContributionsGrantsAmt
CY Contributions Grants$309,685CYContributionsGrantsAmt
PY Program Service Revenue$6,363,577PYProgramServiceRevenueAmt
CY Program Service Revenue$6,091,570CYProgramServiceRevenueAmt
PY Investment Income$121,768PYInvestmentIncomeAmt
CY Investment Income$211,643CYInvestmentIncomeAmt
PY Other Revenue$9,326PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$6,725,412PYTotalRevenueAmt
CY Total Revenue$6,612,898CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$8,113,665PYOtherExpensesAmt
CY Other Expenses$7,862,193CYOtherExpensesAmt
PY Total Expenses$8,113,665PYTotalExpensesAmt
CY Total Expenses$7,862,193CYTotalExpensesAmt
PY Revenues Less Expenses-$1,388,253PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$1,249,295CYRevenuesLessExpensesAmt
Total Assets BOY$40,703,048TotalAssetsBOYAmt
Total Assets EOY$39,269,548TotalAssetsEOYAmt
Total Liabilities BOY$1,882,892TotalLiabilitiesBOYAmt
Total Liabilities EOY$1,698,687TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$38,820,156NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$37,570,861NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE PURPOSE OF THE CORPORATION IS TO ACQUIRE REAL PROPERTY AND HOLD TITLE TO SUCH PROPERTY FOR THE PURPOSE OF CREATING A COMMERCIAL LIFE SCIENCE, RESEARCH, AND TECHNOLOGY CLUSTER IN AN ENVIRONMENT IN WHICH NEW AND TECHNOLOGICALLY INNOVATIVE BUSINESSES CAN DEVELOP AND RESEARCH CAN BE TRANSLATED INTO COMMERCIALLY VIABLE HIGH TECHNOLOGY. THE LAWFUL PUBLIC OR QUASI-PUBLIC OBJECTIVE WHICH EACH OF THE FOREGOING PURPOSES WILL ACHIEVE SHALL BE TO ADVANCE THE EDUCATIONAL AND RESEARCH MISSION OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY BY ACQUIRING AND HOLDING TITLE TO FACILITIES IN WHICH SCIENCE RESEARCH AND SCHOLARLY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE STATE UNIVERSITY OF NEW YORK AND THE STATE UNIVERSITY OF NEW YORK AT ALBANY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescREAL ESTATE RENTAL INCOME - ACQUIRE, HOLD AND DEVELOP REAL PROPERTY IN WHICH SCIENCE RESEARCH AND SCHOLARY PROGRAMS FOR THE ENHANCEMENT OF FACULTY, VISITING SCHOLARS, STUDENTS AND STAFF SHALL BE LOCATED; AND WHICH SCIENTIFIC RESEARCH FACILITIES SHALL ENHANCE THE ABILITY OF THE UNIVERSITY AT ALBANY AND SUNY TO ATTRACT PUBLIC AND PRIVATE FUNDS TO FURTHER RESEARCH AND SCHOLARLY STUDIES.Desc
Described In Section501c30DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document5IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members8GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RICHARD MCGINN JRBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5184375090PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11400 WASHINGTON AVENUE UAB 226AddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12222ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
FARDIN SANAI
SECRETARY1.005.00Yes (X)Yes (X)$0$18,120$0
EDWARD SWYER
PRESIDENT1.001.00Yes (X)Yes (X)$0$0$0
GEORGE HEARST
VICE PRESIDENT1.001.00Yes (X)Yes (X)$0$0$0
JEFFREY BLACK
TREASURER1.001.00Yes (X)Yes (X)$0$0$0
TODD FOREMAN
DIRECTOR1.001.00Yes (X)$0$0$0
AMY KNAPP
DIRECTOR1.001.00Yes (X)$0$0$0
HAVIDAN RODRIGUEZ
DIRECTOR1.001.00Yes (X)$0$0$0
BRIAN STRAUGHTER
DIRECTOR1.001.00Yes (X)$0$0$0
RICHARD MCGINN JR
EXECUTIVE DIRECTOR13.1324.37Yes (X)$0$227,731$24,694
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$245,851TotReportableCompRltdOrgAmt
Total Other Compensation$24,694TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
ARAMARK FACILITY SERVICES CORP
1101 MARKET STPHILADELPHIAPA19107FACILITY MANAGEMENT$3,201,377
THE UNIVERSITY AT ALBANY FOUNDATION
1400 WASHINGTON AVE UAB 226ALBANYNY12222MANAGEMENT SERVICES$426,269
INTEGRALED LLC
14 HEMLOCK STLATHAMNY12110CAPITAL PROJECT$108,568
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt
Government Grants$309,685GovernmentGrantsAmt
Total Contributions$309,685TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescRENTAL INCOMEDesc
Business531120BusinessCd
Total Revenue Column$6,091,570TotalRevenueColumnAmt
Related Or Exempt Func Income$6,091,570RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$6,091,570TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$211,643TotalRevenueColumnAmt
Exclusion$211,643ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,612,898TotalRevenueColumnAmt
Related Or Exempt Func Income$6,091,570RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$211,643ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$386,469TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$2,645TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$1,863,215TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$9,869TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$544TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$2,942TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$3,466,278TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$157,030TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
UTILITIES$1,164,309
REPAIRS & MAINTENCE$488,281
REAL ESTATE TAXES$320,101
BANK CHARGES$510

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$7,862,193TotalAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$4,850,572BOYAmt
EOY$5,042,028EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$377,932BOYAmt
EOY$687,617EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$62,411BOYAmt
EOY$32,892EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$184,936BOYAmt
EOY$190,659EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$90,688,415LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$57,454,640LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$35,154,999BOYAmt
EOY$33,233,775EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$72,198BOYAmt
EOY$82,577EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$40,703,048BOYAmt
EOY$39,269,548EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$512,631BOYAmt
EOY$558,337EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
BOY$255,860BOYAmt
EOY$0EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,114,401BOYAmt
EOY$1,140,350EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,882,892BOYAmt
EOY$1,698,687EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$38,820,156BOYAmt
EOY$37,570,861EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$38,820,156BOYAmt
EOY$37,570,861EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$40,703,048BOYAmt
EOY$39,269,548EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$1,249,295ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,345,968OtherCostOrOtherBasisAmt
Book Value$1,345,968BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$88,416,581OtherCostOrOtherBasisAmt
Depreciation$56,539,452DepreciationAmt
Book Value$31,877,129BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$925,866OtherCostOrOtherBasisAmt
Depreciation$915,188DepreciationAmt
Book Value$10,678BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$33,233,775TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescASSET RETIREMENT OBLIGATIONDesc
Amt$1,140,350Amt
FieldValueIRS element (for citing)
Total Liability$1,140,350TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$69,339,408TotalRevEtcAuditedFinclStmtAmt
Other Revenue$62,726,510OtherRevenueAmt
Revenue Not Reported$62,726,510RevenueNotReportedAmt
Revenue Subtotal$6,612,898RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$6,612,898TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$20,079,391TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$12,603,667OtherExpensesIncludedAmt
Expenses Not Reported$12,603,667ExpensesNotReportedAmt
Expenses Subtotal$7,475,724ExpensesSubtotalAmt
Other Expenses Not Included$386,469OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$386,469ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$7,862,193TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART X, LINE 2:THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. CHANGES IN RECOGNITION IN MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION BELIEVES IT HAS TAKEN NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2024 OR 2023. (CONSOLIDATED FINANCIAL STATEMENTS)
PART XI, LINE 2D - OTHER ADJUSTMENTS:CONSOLIDATED ENTITY ACTIVITY - UNIV AT ALBANY FOUNDATION 62,726,510.
PART XII, LINE 2D - OTHER ADJUSTMENTS:CONSOLIDATED ENTITY ACTIVITY - UNIV AT ALBANY FOUNDATION 12,603,667.
PART XII, LINE 4B - OTHER ADJUSTMENTS:EXP ON RETURN ELIMINATED IN CONSOLIDATION ON FINANCIALS 386,469.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonRICHARD MCGINN JRPersonNm
TitleEXECUTIVE DIRECTORTitleTxt
Base Compensation Filing Org$0BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs$214,296CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization$0BonusFilingOrganizationAmount
Bonus Related Organizations$0BonusRelatedOrganizationsAmt
Other Compensation Filing Org$0OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs$13,435OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org$0DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs$22,698DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$0NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$1,996NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$0TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs$252,425TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org$0CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs$0CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 3FormAndLineReferenceDesc
ExplanationRELATED ORG METHODS USED FOR COMPENSATION EXPLANATION COMPENSATION FOR THE RELATED ORGANIZATION, THE UNIVERSITY AT ALBANY FOUNDATION (FOUNDATION), IS BASED ON DATA FOR COMPARABLE POSITIONS AT THE FOUNDATION'S FINANCE COMMITTEE, AND APPROVED BY THE FOUNDATION'S SIMILAR ORGANIZATIONS. COMPENSATION AND WAGE INCREASES ARE REVIEWED BY EXECUTIVE COMMITTEE, THROUGH THE BUDGET PROCESS.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE CORPORATION'S SOLE MEMBER IS THE UNIVERSITY AT ALBANY FOUNDATION. THE MEMBER SHALL MAKE POSSIBLE THE ORDERLY AND SOUND EXISTENCE OF THE CORPORATION, AND SHALL ESTABLISH, AND AMEND AS NECESSARY, THE BY-LAWS OF THE CORPORATION. THE MEMBER SHALL FORM THE BOARD OF DIRECTORS OF THE CORPORATION, WHO SHALL DIRECT THE MANAGEMENT AND OPERATION OF THE CORPORATION.
FORM 990, PART VI, SECTION A, LINE 7ATHE BOARD SHALL BE COMPOSED AS FOLLOWS: 4 DIRECTORS SHALL BE, EX OFFICIO, THE PRESIDENT OF THE UNIVERSITY AT ALBANY, OR THEIR DESIGNEE, THE PRESIDENT OF THE UNIVERSITY AT ALBANY FOUNDATION (THE FOUNDATION), THE TREASURER OF THE FOUNDATION, AND THE EXECUTIVE DIRECTOR OF THE FOUNDATION; 3 DIRECTORS APPOINTED BY THE MEMBER(S); 2 DIRECTORS FROM THE PUBLIC AT LARGE WHO SHALL BE ELECTED ONLY IN THE FISCAL YEARS ENDING IN AN EVEN NUMBER BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS; AND 2 DIRECTORS FROM THE PUBLIC AT LARGE WHO SHALL BE ELECTED ONLY IN THE FISCAL YEARS ENDING IN AN ODD NUMBER BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 11BMANAGEMENT PROVIDES A DRAFT OF FORM 990 TO THE UNIVERSITY AT ALBANY FOUNDATION AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING. THE AUDIT COMMITTEE MEETS TO COMMENT ON FORM 990 AND ANY REVISIONS WILL BE DISCUSSED AT THAT TIME. A COMPLETE COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING ALL REQUIRED SCHEDULES, AS ULTIMATELY FILED WITH THE IRS) WAS PROVIDED TO EACH VOTING MEMBER OF THE UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION'S BOARD BEFORE ITS FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12CALL NEW DIRECTORS AND OFFICERS OF THE CORPORATION SHALL BE ADVISED OF THE CONFLICT OF INTEREST POLICY AND ASKED TO COMPLETE A DISCLOSURE FORM AT THE OUTSET OF THEIR TENURE, AND ON AN ANNUAL BASIS ALL INTERESTED PARTIES SHALL BE ASKED TO COMPLETE AND SUBMIT A DISCLOSURE FORM TO THE EXECUTIVE DIRECTOR. IN THE EVENT AN INTERESTED PARTY BELIEVES A POSSIBLE CONFLICT OF INTEREST TO BE PRESENT, FULL DISCLOSURE OF THE NATURE OF THE CONFLICT SHALL BE MADE ON THAT QUESTIONNAIRE. WHEN CIRCUMSTANCES ARISE THAT LEAD TO A PREVIOUSLY UNDISCLOSED CONFLICT, FULL DISCLOSURE OF SAID CONFLICT SHOULD BE MADE TO THE EXECUTIVE DIRECTOR AT THE EARLIEST OPPORTUNITY. IN GENERAL, THE PRESENCE OF A REAL OR POTENTIAL CONFLICT OF INTEREST IS NOT CAUSE FOR TERMINATION OF AN INTERESTED PARTY'S RELATIONSHIP WITH THE CORPORATION. THE CORPORATION'S OBJECTIVE IS TO RECEIVE FULL DISCLOSURE OF ANY CONFLICT AND TO ENSURE THAT ANY ACTION OR DECISION BE MADE BY OTHERS ACTING SOLELY WITH THE CORPORATION'S INTEREST IN MIND. THUS, ANY INTERESTED PARTY CONFRONTED BY SUCH A CONFLICT SHOULD REFRAIN FROM ACTING ON BEHALF OF THE CORPORATION IN THE CONTRACT OR TRANSACTION TO WHICH IT PERTAINS AND SHOULD REFER THE MATTER TO OTHERS IN AUTHORITY. IN THE CASE OF ANY DIRECTOR WHO WOULD BE PARTICIPATING IN BOARD ACTION ON A MATTER TO WHICH A CONFLICT OF INTEREST MIGHT APPLY, SAID DIRECTOR SHALL DISCLOSE THE CONFLICT TO THE BOARD AND SHALL REFRAIN FROM VOTING OR USING PERSONAL INFLUENCE ON THE MATTER. THE MINUTES OF THE MEETING SHALL RECORD THAT DISCLOSURE AND ABSTENTION FROM VOTING WERE MADE. A DIRECTOR'S CONFLICT WILL BE WITHOUT CONSEQUENCE TO THE BOARD'S ACTION IF, FIRST, THERE IS FULL DISCLOSURE OF THE CONFLICT, AND SECOND, A DISINTERESTED MAJORITY OF DIRECTORS APPROVES, RATIFIES OR TAKES THE SUBJECT ACTION.
FORM 990, PART VI, SECTION C, LINE 19GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE CORPORATION MAKES ORGANIZATIONS DOCUMENTS, CONFLICT OF INTEREST POLICY , AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 11GBUILDING SERVICES CONTRACT 1,863,215.
FORM 990, PART XII, LINE 2CNO CHANGE FROM THE PRIOR YEAR

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1THE UNIVERSITY AT ALBANY FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11400 WASHINGTON AVE UAB 226AddressLine1Txt
CityALBANYCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12222ZIPCd
FieldValueIRS element (for citing)
EIN141503972EIN
Primary ActivitiesCHARITYPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Public Charity StatusLINE 5PublicCharityStatusTxt
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceADDITIONAL INFORMATIONFormAndLineReferenceDesc
ExplanationTHE UNIVERSITY AT ALBANY FOUNDATION (THE FOUNDATION) IS THE SOLE MEMBER OF THE UNIVERSITY AT ALBANY BIOSCIENCE DEVELOPMENT CORPORATION (UABDC) AND FOR FINANCIAL REPORTING PURPOSES UABDC IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF THE FOUNDATION. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE WHILE UABDC FALLS UNDER SECTION 501(C)(25). UABDC WAS INCORPORATED FOR THE SOLE PURPOSE OF ACQUIRING, HOLDING AND DEVELOPING PROPERTY AND FOR MANAGING THE FACILITIES AND REAL ESTATE FOR THE BENEFIT OF THE UNIVERSITY AT ALBANY AND THE STATE UNIVERSITY OF NEW YORK. THE FOUDNATION PROVIDES MANAGEMENT AND ACCOUNTING SERVICES FOR UABDC.ExplanationTxt

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