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Thread: UB Foundation

  1. #1
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    UB Foundation

    The BN has a long piece up on the UB Foundation -

    UB Foundation fends off efforts to pry open its finances

    The issue is complex but the question is pretty simple. Should the SUNY school have a private foundation that does not fall under the same controls of a public body.


    Personally, I think it's best for the Buffalo region to have the UB Foundation. It allows for a way to funnel money directly to the school and not fall under the control of the SUNY system. For example, if the foundation was larger, one could project that something like UB2020 could have been funded in private rather than having the State pick up the tab...which comes from State approval.

    What say you?

  2. #2
    Tony Fracasso - Admin
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    If the foundation was larger?

    Jay Tokasz
    It has accumulated more than $1 billion in investments, property and artwork, making it the wealthiest nonprofit organization in the area and the largest foundation by far within the SUNY system.
    How much money did the state take from us to fund the medical campus?

    Jay Tokasz
    But questions nag at those who arenít privy to the inner workings of the foundation: From whom does it raise its money, and how precisely does it spend it?
    If the group is ran as a non-profit don't they have rules they have to follow? Like who donates and how the money is spent? If not they lose their non-profit status. Here is something I find odd about non-profits. The people who run them profit really well for themselves.

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    Quote Originally Posted by WNYresident View Post
    If the group is ran as a non-profit don't they have rules they have to follow?
    They have rules to follow but I think people want to go beyond those rules. For example, you can't do a FOIL request for the Oishei Foundation.

    What this reads to me is people are becoming aware that there is a lot of money at play but they don't have control over it. This is why some of the educrats are up in arms. Added to this, NYS/Albany/SUNY does not have control and they don't like it. But if you think about it....both those are very good reasons to keep things the way they are.

  4. #4
    Tony Fracasso - Admin
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    Well if the group is totally ran on donations without any cash flow from the tax payer there isn't much we can say.

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    Quote Originally Posted by WNYresident View Post
    Well if the group is totally ran on donations without any cash flow from the tax payer there isn't much we can say.
    That's not how it works.

  6. #6
    Tony Fracasso - Admin
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    You said we can't foil the group like we can foil a government agency.

    For example, you can't do a FOIL request for the Oishei Foundation.
    Isn't the Oishei Foundation basically a non-profit like the UB foundation?

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    Quote Originally Posted by WNYresident View Post
    You said we can't foil the group like we can foil a government agency.



    Isn't the Oishei Foundation basically a non-profit like the UB foundation?
    Found online...

    The New York State Freedom of Information Law only applies to governmental agencies. The law defines governmental agencies as follows:

    3. "Agency" means any state or municipal department, board, bureau, division, commission, committee, public authority, public corporation, council, office or other governmental entity performing a governmental or proprietary function for the state or any one or more municipalities thereof, except the judiciary or the state legislature.



    I don't think you can do a FOIL on a non-profit...regardless of their funding. But boy that would be awesome if you could......

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    NYS has a not-for-profit corporation law that governs not for profits. In addition if it's organized as a charitable entity I believe the Atty Gen has some oversight. Got involved with something a few years back that led down those roads. Wilderness of mirrors! Google client 9 going after Duck Grasso, former head of the New York stock exchange. Used the not for profit law to ruin a completely innocent man...and never took off his black socks!

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    Actually his name is Dick Grasso!

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