The mission of The University at Albany Foundation is to support and promote the activities and programs of the University at Albany, State University of New York by providing support, advice and counsel regarding fund raising, gift and grant management; developing and managing real property; and providing a strong base of private-sector support through the efforts of Foundation Directors.
Background and History
The University at Albany Foundation is a 501(c)3 not-for-profit corporation established in 1967 for the purpose of encouraging philanthropic contributions from individuals, corporations, foundations, and other organizations in support of activities and programs of the University at Albany. The Foundation operates consistent with the policies of the University at Albany, State University of New York. However, the Foundation Directors are independent of the State and of SUNY in the exercise of their fiduciary responsibilities. The Foundation has distinguished itself by a high degree of entrepreneurialism in all of its activities.
Importance of the Foundation to the University
It is essential that The Foundation achieve success in its areas of activity if the University at Albany is to achieve its goal of becoming a pacesetter for America's higher education institutions. The quality and intensity of effort put forth by The Foundation's Board of Directors and Committees will be critical to achieving that success. In the years ahead, The Foundation will continue as an important link between the University and the private sector, both within New York and nationally. The strong support of the private sector will become an increasingly important factor in the University's bid to join the ranks of the nation's top research institutions.
Board of Directors
The directors are selected for their distinguished achievement in business, industry, and the professions along with their commitment to the advancement of the University at Albany. While many are from the Capital Region area, an increasing number of directors reside in other parts of the country. The directors provide advice and counsel to the Foundation on a broad range of issues, and help interpret the needs of the University to the political and business communities. In addition, the directors appoint the officers of the Foundation, establish the Foundation's operating and investment policies, and approve all budgets and major expenditures of the Foundation. The Board of Directors consists of 57 directors: 7 ex-officio directors (President of the University, Chairman of the University Council, President of the Alumni Association, President of the Benevolent Association, Vice President for University Advancement, Vice President for Finance and Business and Executive Director of the Foundation); and 50 directors elected from the following groups: Alumni Association Board (5), University President (10), Benevolent Association Board (1), University Faculty (3), University student body (1), at-large members (30)
Committees and Councils
The following are the standing committees of the corporation: Executive Committee, Audit Committee, Finance Committee (Investment Sub-Committee, Real Property Sub-Committee), Nominating Committee and Campaign Development Committee. Their membership consists of representatives selected from the Board of Directors.
The Foundation Councils consist of the Community Council and the Economic Outreach Council.
In carrying out its mission, the Foundation concentrates its activities in the following areas:
A. Fund Raising
The Foundation supports the University's development efforts to attract philanthropic commitments and provides advice and counsel on University fundraising goals, objectives and strategies.
B. Financial Services
The Foundation provides financial management for University-related projects, programs, and organizations including the activities of other University affiliated corporations.
C. Real Estate Development
The Foundation owns and operates the following properties.
- 2 University Place, Albany, NY
- University at Albany Bioscience Development Corporation
d/b/a Bioscience Development Properties
- Brubacher Hall, Albany, NY*
*The Foundation, by virtue of a ground lease with the University also holds Brubacker Hall in its real property portfolio. The Foundation sub-leases Brubacker Hall to the College of St. Rose.
The Foundation manages a substantial investment portfolio for the benefit of the University at Albany. The investment objective for the portfolio is to preserve its real (inflation-adjusted) purchasing power while providing a relatively predictable, constant and stable (in real terms) stream of earnings for University endeavors.