2017-05-15T14:47:17-05:00 2016-06-30 GRANT THORNTON LLP 757 THIRD AVE 3RD FLOOR NEW YORK NY 100172013 990 2015-07-01 116077945 Stony Brook Foundation Inc % JASON HSUEH STON 6316326536 230 Administration Stony Brook NY 11794 DEXTER BAILEY Managing Director 2017-05-15 true Scott Thompsett P00741490 2125990100 2017-05-15 2015 2021-01-29 14:40:06Z Dexter Bailey 230 Administration Stony Brook NY 11794 192119151 false X www.stonybrook.edu/foundation/ X 1965 NY To advance the mission and goals of Suny Stony brook (also referred to as Stony Brook University) by facilitating, accepting and managing philanthropic gifts. 21 19 9 0 1465060 1210034 39770483 49531605 2681837 2529065 6280272 13198506 1243192 2014806 49975784 67273982 32075089 21283151 0 0 8796077 9209283 65000 70000 3998496 20198310 20560636 61134476 51123070 -11158692 16150912 432581906 440523703 49313188 39951506 383268718 400572197 X THE STONY BROOK FOUNDATION, INC. IS A NOT-FOR-PROFIT CORPORATION WITHOUT MEMBERS FORMED IN 1965 UNDER THE NEW YORK MEMBERSHIP CORPORATION LAW WITH THE CONSENT OF THE EDUCATION DEPARTMENT. ITS EXEMPT PURPOSE IS TO ADVANCE THE MISSION AND GOALS OF SUNY STONY BROOK (ALSO REFERRED TO AS STONY BROOK UNIVERSITY) BY FACILITATING, ACCEPTING, AND MANAGING PHILANTHROPIC GIFTS AND GRANTS FOR THE BENEFIT OF THE UNIVERSITY, THE UNIVERSITY MEDICAL CENTER, AND THE LONG ISLAND STATE VETERANS HOME. false false 18021286 11345399 Stony Brook Foundation provided SUNY Stony Brook funds for various institutional support, including but not limited to: funding construction of cutting-edge facilities such as the Medical and Research Translation (MART) as well as substantial renovations of the current existing Stony Brook University Hospital, subsidized funding to support various SUNY Stony Brook strategic academic initiatives, and Stony Brook University departments such as Mathematics, Physics and the Turkana Basin Institute, an academic base for scientific research and training in paleontology and paleoanthropology. 11837204 5011591 282107 Stony Brook Foundation provided funding to support various SUNY Stony Brook academic programs, Centers and Institutes in order to nurture academic achievement among SUNY Stony Brook students and faculty by providing funds to attract and retain exceptional faculty through the use of endowed chairs and endowed professorships, aid in curriculum enhancement as well as equip classrooms and laboratories with the latest technology. 3665559 960515 Stony Brook Foundation provided support to SUNY Stony Brook in its efforts to maintain their reputation as a public research university that thrives on the forefront of discovery. As such, Stony Brook Foundation provides funding to support various areas of research including: cancer research (Stony Brook Cancer Center), Parkinson disease research (The Thomas Hartman Center for Parkinson's Research), environmental and sustainability research (Shinnecock Bay Restoration Program), Chemical biology research, mercury exposure through the consumption of marine fish, research in New conjugated Materials and many other various research efforts. 3007053 1307044 Public Serv., Admin. Supp. & Student Support 2766846 2658602 Fin. Aid. 2529065 Fiscal Agent 5773899 3965646 2529065 39297948 true true false true false false false true true true true true false false true true false true false false true true false true true true false true true true false false false true false false false true true true false false false true true true false false true 3 1 true 9 true true true true BF BD CA CJ UC EI SW false false false true true false false false true false X 21 19 true false false false false false false true false false false true true true true true true true true false AK CA CO FL GA HI KS KY MD MA MI MN NH NJ NY OH OK OR SC UT WV WI X X JASON HSUEH 6316326536 230 ADMINISTRATION Stony Brook NY 11794 X Mr Richard L Gelfond Trustee, Chair 4.0 0.1 X X 0 0 0 Mr David E Acker Trustee, Vice Chair 1.0 0.0 X X 0 0 0 Dr James H Simons Trustee, Chair Emeritus 1.0 0.1 X X 0 0 0 Mr Cary F Staller Trustee, Secretary 1.0 1.0 X X 0 0 0 Dr Nancy Rauch Douzinas Trustee, Treasurer 1.0 0.0 X X 0 0 0 Dr Ashvin B Chhabra Trustee 0.5 0.0 X 0 0 0 Dr Barry S Coller Trustee 0.5 0.0 X 0 0 0 Mr Guy-Max Delphin Trustee 0.5 0.0 X 0 0 0 Mr Barry M Fox Esq Trustee 0.5 0.0 X 0 0 0 Mr Stuart D Goldstein Trustee 0.5 0.1 X 0 0 0 Ms Karen Keogh Trustee 0.5 0.0 X 0 0 0 Mr William L Knapp Trustee 0.5 0.0 X 0 0 0 Dr Laurie Landeau Trustee 0.5 0.0 X 0 0 0 Dr Henry B Laufer Trustee 0.5 0.0 X 0 0 0 Ms Dorothy Lichtenstein Trustee 0.5 0.0 X 0 0 0 Dr Nirmal Mattoo Trustee 0.5 0.0 X 0 0 0 Mr Richard T Nasti Esq Trustee 0.5 0.1 X 0 0 0 Ms Louise Phanstiel CPA Trustee 0.5 0.0 X 0 0 0 Mr Leonard A Spivak Esq Trustee 0.5 0.0 X 0 0 0 Ms Susan Steinhardt Esq Trustee 0.5 0.0 X 0 0 0 Dr Samuel L Stanley Jr Ex-Officio Trustee (Voting) 3.0 0.2 X 250000 0 0 Mr Dexter A Bailey Jr Executive Director 4.0 1.0 X 186497 0 0 Mr Lyle Gomes CFO (Thru 3/2016) 0.3 0.0 X 9744 0 5493 Mr Jason W Hsueh CFO & COO 37.5 0.0 X 236385 0 102237 Ms Erin Abouzaid CIO (Thru 4/2016) 37.5 0.0 X 262268 0 113431 Dr Dionissios Assanis Prvost & SVP (thru 6/16) 0.0 0.0 X 236965 0 0 Dr Kenneth Kaushansky Dean, School of Medicine 0.0 0.0 X 141720 0 0 Dr Lewis Pasternak CEO & VP for Health Systems 0.0 0.0 X 360313 0 0 1683892 0 221161 7 false true true SIMPSON SCARBOROUGH LLC 25 EAST BROADWAY ALEXANDRIA VA 22314 Branding Services 1428148 SCGP CAFE LLC SIMONS CENTER 100 Nicolls Road STONY BROOK NY 11794 Academic Activities 933818 Investment Manager CO SBF 230 Administration STONY BROOK NY 11794 INVESTMENT Manag. 732080 Investment Manager CO SBF 230 Administration STONY BROOK NY 11794 INVESTMENT Manag. 579771 Investment Manager CO SBF 230 Administration STONY BROOK NY 11794 INVESTMENT Manag. 445573 31 334100 2552347 12500 46632658 1027834 49531605 CONTRACTUAL AGENCY FEES 711300 2529065 2529065 2529065 2494532 1465060 1029472 0 52758 52758 309195 309195 0 309195 309195 135057995 124346702 7319 10711293 -7319 10703974 10703974 239552 2552347 456095 -216543 -216543 20650 2765 17885 17885 25859 32288 -6429 -6429 CONTRACTED SERVICES 900099 1509332 1509332 NCAA ATHLETICS REVENUE 900099 241664 241664 MUSEUM ADMISSION TO THE PK HOUSE 900099 40443 40443 66501 66501 1857940 67273982 2811172 1465060 13466145 15871048 15871048 2887079 2887079 2525024 2525024 0 1236742 582279 350500 303963 0 5823734 3792413 1174776 856545 0 2061657 1084070 516894 460693 87150 78838 8312 0 89539 89539 131100 131100 180000 180000 70000 70000 5223370 5223370 3311285 2389692 167939 753654 2388108 1678551 709557 1561805 1434170 29786 97849 214592 183189 17347 14056 0 620218 619926 292 1432867 1358377 5463 69027 0 2314360 2032990 15162 266208 84614 84614 0 329676 327594 2082 136096 58118 77978 EQUIPMENT AND RENTALS 872306 548843 18261 305202 FEDERAL/STATE TAXES(UBIT) 513485 513485 REPAIRS AND MAINTENANCE 381002 378125 1590 1287 BUILDING ALTERATIONS 252263 252263 523950 437260 4839 81851 51123070 39297948 7826626 3998496 12160380 13800330 60528804 96614029 77415876 66449131 256629 706333 180000 20000 0 0 411419 368434 38317 25889 526001 548922 14867859 2805699 12182759 12062160 33388912 33927685 232457834 212974559 3000000 3000000 0 0 34975 26231 432581906 440523703 8245153 7120746 0 0 67295 124653 1435000 1230000 38977041 30853857 0 0 0 0 0 0 588699 622250 49313188 39951506 X 25714317 27506141 201923774 207648692 155630627 165417364 383268718 400572197 432581906 440523703 16150912 1152567 X false true X true false X 175716151 77940808 55707361 39770483 49531605 398666408 0 0 175716151 77940808 55707361 39770483 49531605 398666408 188894146 209772262 1870515 743646 747772 748823 1391425 5502181 1341237 1437650 1014445 1215610 1465060 6474002 515464 312244 382357 1069691 1861894 4141650 414784241 10458824 0.50574 0.48157 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 180000 180000 50963858 51143858 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 228200 180000 180000 180000 768200 250000 250000 250000 250000 1000000 1500000 Schedule C, Part II-A, Line 1(B) The Foundation does not engage in any direct lobbying activity itself; the foundation hires AN outside lobbying consultant to advocate on behalf of educational and budget issues impacting Stony Brook University. 120652 6911618 X X X false false true X 207914116 18280843 9985414 11064534 5458964 219656875 196350990 9873999 17610964 9727041 6194796 207914116 154681221 40858611 15404060 9094839 5498063 196350990 125375578 28743981 14566320 8183308 5821350 154681221 110284200 22681138 5096804 10060290 2626274 125375578 0.02180 0.75250 0.22570 false false 1122854 1122854 6776168 2369226 4406942 134483 88177 46306 6834354 348296 6486058 12062160 INVESTMENTS IN MULTI-STRATEGY 99249619 F INVESTMENTS IN US EQUITY FUNDS 84398919 F INVESTMENTS IN PRIVATE EQUITY 17247990 F INVESTMENTS IN GLOBAL EQUITY 9200756 F INVESTMENTS IN CORE-PROPERTY 2241525 F INVESTMENTS IN DIVERSIFIED FIX 635750 F 212974559 0 ANNUITIES PAYABLE 622250 622250 X 68979043 1152567 72846 1225413 67753630 -479648 -479648 67273982 51675564 72846 479648 552494 51123070 51123070 ORGANIZATIONS COLLECTIONS OF ART, HISTORICAL TREASURES OR OTHER ASSETS SCHEDULE D, Part III, Line 4 The foundation owns the Pollock-krasner house and study center. The center operates as a museum and library. The extensive research collections developed at the center attract scholars, students and researchers from around the world. The United States department of the interior has designated it as a national historic landmark. The foundation also owns various books, photographs, journal collections, and fine arts used to further the mission of suny stony brook by nurturing academic instruction, research, library and public service. ESCROW AND CUSTODIAL ARRANGEMENTS SCHEDULE D, Part IV, Line 2b The foundation holds funds as a trustee/disbursing agent for auxiliary agencies of stony brook university, which amounted to $30,853,857 as of June 30, 2016. Such amounts are included in cash and cash equivalents and other investments in the accompanying combined statements of financial position. The foundation charges fees to these agencies for administrative costs, which amounted to $2,529,065 for fiscal year 2016, which is included in contracts and other support in the combined statement of activities. ENDOWNMENT FUNDS SCHEDULE D, Part V, Line 4 The Foundation's endowment is intended to subsidize its charitable mission of supporting Stony Brook University's educational programs. Although the Foundations adopted policies allow for the appropriation for expenditure of the principal of endowment funds in certain cases where doing so is deemed prudent, the Foundation generally leaves the endowment assets untouched, while using investment income therefrom to fund various charitable programs and initiatives. ASC 740 FOOTNOTE SCHEDULE D, Part X, Line 2 The Foundation follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The Foundation is exempt from federal income tax under IRC section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The Foundation has processes presently in place to ensure the maintenance of its respective tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it was nexus; and to identify and evaluate other matters that may be considered tax positions. The tax years ending June 30, 2013, 2014, 2015, and 2016 are still open to audit for both federal and state purposes. The Foundation has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. RECONCILIATION OF REVENUE WITH AFS SCHEDULE D, Part XI, Line 4b Special Events Expenses Reclassed to Revenue ($456,095) Gaming ACTIVITIES RELATED TO FUNDRAISING ACTIVITIES reclassed to Revenue (2,765) Cost of Goods Sold Reclassed to Revenue (20,788) ----------- Total ($479,648) =========== RECONCILIATION OF EXPENSES WITH AFS SCHEDULE D, Part XII, Line 4b Special Events Expenses Reclassed to Revenue $456,095 Gaming ACTIVITIES RELATED TO FUNDRAISING ACTIVITIES reclassed to Revenue 2,765 Cost of Goods Sold Reclassed to Revenue 20,788 ----------- Total $479,648 =========== =========== true Sub-Saharan Africa Grantmaking 2505024 Europe (Including Iceland and Greenland) Grantmaking 20000 East Asia and the Pacific Program Services Education 5100 Central America and the Caribbean Program Services Research 21140 Sub-Saharan Africa Program Services Research 27150 Sub-Saharan Africa Investments Program Related Loan 3000000 Central America and the Caribbean Investments Multiple Managers 139735922 145314336 145314336 Sub-Saharan Africa General support 1223289 WIRE Sub-Saharan Africa Construction/Operations 1281735 WIRE Europe (Including Iceland and Greenland) Support News Literacy 20000 WIRE 5 true false true true true false ORGANIZATIONS PROCEDURES FOR MONITORING THE USE OF GRANTS OUTSIDE U.S. SCHEDULE F, Part I, Line 2 The foundation makes grants outside of the U.S only to organizations affiliated with stony brook university. In the case of a grant from funds of the foundation designated for a particular purpose, the designated account manager submits a requisition for the grant, together with supporting documentation, to the foundation's procurement department. A detailed justification for the grant is required, including the purpose of the grant. The grant request is reviewed, including for compliance with the terms of instrument designating the funds for a particular purpose, and approved. In the case of a request for more than $5,000, review, approval and manual check signature by the foundation's business office is required. In the case of grants from the foundation's unrestricted funds, a grantee submits a request, together with supporting documentation. A detailed justification for the grant is required, including the purpose of the grant. The budget committee, together with the foundation's executive director, reviews and approves grant request from the foundation's unrestricted funds. In all cases, at the end of the grant term, a final report regarding the use of the grant funds is submitted by the grantee to the foundation. FOREIGN FORMS Schedule F, Part IV STONY BROOK FOUNDATION, INC. INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, THE FOUNDATION'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, 8621 OR 8865. TO THE EXTENT SUCH A FORM WAS COMPLETED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. X X X X X X X true Event Associates Inc 162 W 56th Fundraising Event false 2045600 70000 1975600 2045600 70000 1975600 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI SB GALA 2016 1990600 1926975 63625 9971 149722 1432 LISVH Golf 180276 141949 38327 26354 14100 8514 17 621023 483423 137600 3621 149122 10571 82688 2791899 2552347 239552 13592 325198 24671 92634 456095 -216543 20650 2000 561 204 false 20650 2000 561 204 2765 17885 NY true false false false 1.00000 Jo-Ann Daniels 230 Administration Bldg Stony Brook NY 11794 false Jonathan Spier 0 Member in Charge X false Schedule G, PART III line 16 The individual in charge of overseeing the Foundation's FUNDRAISING gaming activities is not compensated for that job responsibility; he undertakes this role as part of his ordinary business endeavors. true RESEARCH FOUNDATION - STONY BROOK UNIV S5422 FRANK MELVILLE Stony Brook NY 11794 141368361 501(C)(3) 1280242 Research Awards STONY BROOK UNIVERSITY OFFICE 261 ADMIN BLDG Stony Brook NY 11794 146013200 GOVERNMENT 13252869 1057497 book Equipment Educational Supplies CARDIOVASCULAR & IMAGING RES FOUND OF NY 50 DAVIDS DRIVE HAUPPAUGE NY 11788 202597925 501(C)(3) 90458 Research Awards ALUMNI ASSOC OF THE StUNIV OF NY at stony brook 1315 FM JRMEMLIBR Stony Brook NY 11794 510160098 501(C)(3) 31000 Operation Support FACULTY STUDENT ASSOCIATION 250 STUDENT UNION Stony Brook NY 11794 111986378 501(C)(3) 104906 Research Awards IMMUNOMATRIX LLC 25 HEALTH SCIENCES DR Stony Brook NY 11794 474216997 12500 Prizes & Awards 5 1 ACADEMIC STIPENDS AND GRADUATE STUDENT FELLOWSHIPS 185 601119 Academic Prizes and Awards 555 482932 Student Aid 159 131630 7841 Book Educational support Scholarships 886 1663557 ORGANIZATIONS PROCEDURES FOR MONITORING THE USE OF GRANTS IN U.S. SCHEDULE I, PART I, LINE 2 When the Foundation issues grants from funds with a purpose restriction, the designated account manager submits a requisition for the grant, together with supporting documentation, to the foundation's procurement department. A detailed justification for the grant is required, including the purpose of the grant. The grant request is reviewed, including for compliance with the terms of instrument designating the funds for a particular purpose, and approved. When the Foundation issues a grant for more than $5,000, Review, approval and manual check signature by the foundation's business office is required. When the Foundation issues a grant from unrestricted funds, A grantee submits a request, Together with supporting documentation. A detailed justification for the grant or direct payment, As applicable, is required including the purpose of the grant or direct payment, As applicable. The budget committee, together with the foundation's executive director, reviews and approves requests from the foundation's unrestricted funds. Depending on the type of grant and the grant recipient, at the end of the grant term, a final report regarding the use of the grant funds is submitted by the grantee to the foundation. In lieu of making grant payments, the foundation may pay expenses directly on behalf of a grantee. X false false X false false false false false false false false false Dr Samuel L Stanley Jr Ex-Officio Trustee (Voting) 250000 0 0 0 0 0 0 0 0 250000 0 0 0 Mr Dexter A Bailey Jr Executive Director 6000 40400 140097 0 0 186497 0 Mr Jason W Hsueh CFO & COO 236385 0 0 0 102237 338622 0 Ms Erin Abouzaid CIO (Thru 4/2016) 232268 30000 0 0 113431 375699 0 Dr Dionissios Assanis Prvost & SVP (thru 6/16) 110000 0 126965 0 236965 0 Dr Lewis Pasternak CEO & VP for Health Systems 200000 160313 0 0 0 360313 0 TAX INDEMNIFICATION AND GROSS-UP PAYMENTS SCHEDULE J, Part I, Line 1a The following individuals received a tax gross-up payment for their loan forgiveness, which was included in taxable income on their Form W-2 and is reported in Form 990, Schedule J, Part II, column (b)(iii): Executive Director, Dexter Bailey: $80,098 Provost & SVP for Academic Affairs, Dionissios Assanis: $66,965 METHOD OF ESTABLISHING COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR SCHEDULE J, Part I, Line 3 The Foundations Executive Director is a State University Employee, and as such, the State (an unrelated government entity) determines appropriate compensation for the Executive Director and requests that the Foundation agree to bear a portion of the compensation. The Foundations Board relies on the States determination of appropriate overall compensation for the Executive Director and determines whether to approve payment of a portion of the compensation by the Foundation. Accordingly, since the Foundation does not establish the Executive Directors compensation, Form 990, Schedule J, Question 3 is left blank. Dionissios Assanis Provost & SVP Housing X 300000 20000 false false true 20000 Dr James Simons Board member 39137489 Investments Held false Dr James Simons Board member 1291840 Investment Fee false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS Schedule L, Part IV The Foundation holds investments with an investment firm where Dr. James Simons is the Chairman of the Board. The value of the Foundations holdings with the firm is $39,137,489; for the year ending June 30, 2016, the Foundation paid the investment firm $1,291,840 in investment management fees. X 5 120652 FMV X 21 903048 FMV X food and drinks 1 2500 FMV X supplies 9 1634 FMV 2 false true true Third Party Assistance of Noncash Contributions Sch M, Part I, Line 32b To the extent the Foundation receives donations of securities, IT employs its OWN INVESTMENT BROKER TO liquidate those securities into cash for use in carrying out its charitable mission. Occasionally, the Foundation receives unique non-cash donations (e.g. of boats, etc); in those instances, the Foundation uses a third party vendor to dispose of the assets. AMOUNTS REPORTED ON LINE 15 FORM 990, PART I, LINE 15 Salaries, other compensation, AND employee benefits are comprised of support for campus programs, administrative offices and fundraising offices. For fiscal year 2016, the total support of $9,209,283 includes $5,537,599 related to campus programs, $2,042,170 related to administrative offices and $1,629,514 related to fundraising offices. Other Program Services Form 990, Part III, line 4d Public Serv., Admin. Supp. & Student Support Stony Brook Foundation also aids in SUNY Stony Brook's firm commitment to providing a dedicated educational and social support system that enables all their students to thrive, by providing funding to improve student, administrative and public services across SUNY Stony Brook. Fin. Aid. Stony Brook Foundation provided various student financial support to SUNY Stony Brook as well as to SUNY Stony Brooks students to assist in their effort of delivering a world-class education at remarkably affordable prices and to keep recruiting the best young minds and future leaders from across the socioeconomic spectrum. Fiscal Agent The foundation holds funds as a trustee/disbursing agent for auxiliary agencies of stony brook university, which amounted to $30,853,857 as of June 30, 2016. Such amounts are included in cash and cash equivalents and other investments in the accompanying combined statements of financial position. The foundation charges fees to these agencies for administrative costs which amounted to $2,529,065 for fiscal year 2016, which is included in contracts and other support in the combined statements of activities. Delegation of AUTHORITY Form 990, part VI, section A, line 1 The following committees of the Foundation's Board of Trustees have been delegated authority by the Board of Trustees. The Foundation's executive committee has all the power and authority of the Foundation'S Board ("Board") when the Board is not in session, except for the authority to fill vacancies on the board or any board committee, fix, if any, compensation for board trustees (none is presently paid) including any board committees or to amend, repeal or adopt new foundation bylaws. The Executive committee will also carry out any other responsibilities and duties delegated to it FROM the Board from time to time. The executive committee is obliged to notify the full board in a responsible time frame in reference to the aforementioned. The foundation's audit committee is responsible for overseeing the foundation's accounting and financial reporting processes, administering the foundation's conflict of interest and whistleblower policies, reviewing compensation of all conflicts of interest, procurement or termination and overseeing the foundation's trustees and officers insurance coverage and will also carry out any other responsibilities and duties delegated to it by the board from time to time. THe Foundation's budget committee is responsible for the general supervision of the FOundation's financial affairs and annual budget and will also carry out any other responsibilities and duties delegated to it by the borad from time to time. The Foundation's governance committee develops, reviews and recommends to the board, foundation corporate governance principles and will also carry out any other responsibilities and duties delegated to it by the board from time to time. The foundation's investment committee is responsible for the supervision of the foundation's investments and any individuals or entities to which investment management responsibility is delegated, the review of compensation of foundation investment managers who are also trustees or officers of the foundation and will also carry out any other responsibilities and duties delegated to it by the board from time to time. The Foundation's nominating committee assists the Board by identifying individuals qualified to become trustees and selection, or recommending that the board select, the candidates for all trusteeships to be filled by the board and will also carry out any other responsibilities and duties delegated to it by the board from time to time. duties delegated to it by the board from time to time. Family or Business Relationships Form 990, Part VI, Section A, line 2 MR. Acker and Dr. Simons have a Business relationship. Dr. chhabra and Dr. Simons have a Business relationship. Dr. laufer and Dr. Simons have a Business relationship. CONTEMPORANEOUS DOCUMENTATION Form 990, part VI, section A, line 8b The foundation adopted policies pursuant to which the board and all committees of the board will contemporaneously document in minutes the meetings held (other than in executive session) And written actions undertaken. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 Form 990, Part VI, section B, Line 11 THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCIAL DEPARTMENT. THE FORM 990 IS THEN FORWARDED TO THE EXECUTIVE COMMITTEE FOR REVIEW, COMMENT AND FINAL APPROVAL. THE FINAL VERSION IS CIRCULATED TO THE BOARD OF TRUSTEES. ENFORCEMENT OF CONFLICT OF INTEREST POLICY Form 990, Part VI, Section B, Line 12c Pursuant to the Foundation's bylaws (article IV, Section 11), all Board of Trustees Members, officers and key employees are required to complete an annual conflict of interest certification. The Internal Revenue Service requires that the Foundation disclose relationships among current and certain former members of the Board of Trustees, officers, certain employees, family members, certain independent contractors and entities in which these individuals have an ownership interest. The Annual Certification requires each Trustee, officer and key employee of the Foundation to disclose in writing the existence of any potential conflicts of interest, to certify compliance with the conflict of interest policy and to agree to abide by it. The signed Certifications shall be maintained by the CFO & COO of the Foundation. If an individual becomes aware that he or she may be involved in a potentially conflicted transaction, he or she will immediately disclose the existence and material facts of his or her interest in the conflicted transaction to the Audit Committee or the Board of Trustees, as applicable. Board discussions pertaining to the conflict (and its resolution) are documented in the Board Minutes. PROCESS FOR DETERMINING COMPENSATION Form 990, Part VI, Section B, Lines 15A The compensation paid to the Foundations top management official (the Executive Director) is determined by an unrelated third party: the State of New York. The State has established compensation guidelines whereby compensation is capped at a specific level. The Foundation has no discretion to modify the compensation thresholds established by the State; however, the Foundation may APPROVE A REQUEST FROM THE UNIVERSITY TO PROVIDE additional compensation in an effort to attract talent and pay these individuals at a market rate rendering services to the Foundation. SUCH ADDITIONAL COMPENSATION IS THEN APPROVED BY THE FOUNDATION BOARD. The compensation is memorialized in an employment contract noting that a portion of salary will come from Stony Brook Foundation and another portion from the University, causing certain employees to receive two W-2s. Form 990, Part VI, Section B, Line 15B The compensation paid to the Foundations other officers (COO, CFO and CIO) is recommended by the Foundations Executive Director, and is reviewed by an unrelated third party tax-exempt organization to determine if compensation is appropriate and within the guidelines of industry standards. The approved compensation is then memorialized in an employment contract. AVAILABILITY OF DOCUMENTS TO THE PUBLIC Form 990, Part VI, Line 19 STONY BROOK FOUNDATION, INC. MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. The Form 990 is likewise published on the internet at www.guidestar.org. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. Form 990, Part VII In the interest of clarity, the Foundation is providing context on the compensation reported in both Part VII and Schedule J of the Form 990. The Foundation's Executive Director, Dexter Bailey, is a State University employee who undertakes two different job responsibilities: SENIOR VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT at the State University of Stony Brook and as Executive Director of the foundation. Mr. Bailey's compensation reported on Part VII of the Form 990 represents compensation paid by the Foundation for services rendered by Mr. Bailey in his capacity as Executive Director and not for any services he renders to the State University of Stony Brook. BENEFITS NOT DISCLOSED ON SCHEDULE J ARE PROVIDED BY THE STATE UNIVERSITY OF STONY BROOK. The funding to support State employee compensation is approved by the Foundations Board of Directors. Dr. Samuel Stanley, Ex-Officio Trustee, is a State University employee that participates in fundraising on behalf of the Foundation. Dr. Stanley's compensation reported on Part VII of the Form 990 is a PORTION OF HIS TOTAL COMPENSATION PACKAGE. DR. STANLEY'S TOTAL COMPENSATION IS ESTABLISHED AND APPROVED BY THE SUNY CHANCELLOR. BENEFITS ARE PROVIDED BY THE STATE UNIVERSITY OF STONY BROOK. The funding to support THE State employee compensation is approved by the Foundations Board of Directors. CFO & COO, Jason Hsueh, and CIO, Erin AbouZaid, spend 100% of their time engaged in activities that support the Foundation; however, their compensation is paid by an unrelated third party tax-exempt organization and not directly by the Foundation. Compensation paid by an unrelated organization for services rendered to the Foundation is required to be disclosed in Part VII, Column (d) as though it had been paid by the Foundation. CHIEF FINANCIAL OFFICER, LYLE GOMES, IS A STATE UNIVERSITY EMPLOYEE WHO OCCASIONALLY RENDERS SERVICE TO THE FOUNDATION. HIS COMPENSATION REPORTED ON PART VII REPRESENTS AN ALLOCATION OF HIS STATE COMPENSATION THAT IS ATTRIBUTABLE TO SERVICES RENDERED TO THE FOUNDATION. COMPENSATION PAID BY AN UNRELATED ORGANIZATION FOR SERVICES RENDERED TO THE FOUNDATION IS REQUIRED TO BE DISCLOSED IN PART VII, COLUMN (D) AS THOUGH IT HAD BEEN PAID BY THE FOUNDATION. There is a salary cap for certain state university employees: Dr. Assanis, Dr. Kaushansky, and Dr. Pasternak. IN RESPONSE TO THE UNIVERSITY'S OCCASIONAL REQUEST, THE STONY BROOK FOUNDATION'S BOARD DOES REVIEW AND APPROVE FUNDS FOR ADDITIONAL COMPENSATION TO THE UNIVERSITY EMPLOYEES SO THAT THE UNIVERSITY CAN RECRUIT THE BEST PEOPLE FOR THE JOB. INDIVIDUAL EMPLOYEES' CONTRACTS OUTLINE THE PORTION OF THEIR SALARY THAT WILL COME FROM STONY BROOK FOUNDATION AND ANOTHER PORTION FROM THE UNIVERSITY, CAUSING CERTAIN EMPLOYEES TO RECEIVE TWO W-2'S. BENEFITS ARE PROVIDED BY THE STATE UNIVERSITY OF STONY BROOK. Stony Brook Foundation Realty 230 Administration Stony Brook NY 11794 112622814 Real Estate NY 501(c)(3) 11-I SBF true Stony Brook Foundation Delaware 230 Administration Stony Brook NY 11794 133550753 Real Estate NY 501(c)(3) 11-I SBF true Long Island High Tech Incubator Inc 25 east loop road Stony Brook NY 11790 113059018 Develop Tech NY 501(c)(3) 09 NA false false false false false false false false false false false false false false true true false false false false