TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
UBF CORPORATION
Employer identification number
51-0164454
51-0164454
| Return Reference | Explanation |
|---|---|
| Change in Governing Documents | Form 990, Part VI, Line 4 THE BY-LAWS OF UBF CORPORATION WERE AMENDED ON OCTOBER 30, 2017 (PREVIOUSLY AMENDED MARCH 4, 2016). THE UPDATES TO THE BY-LAWS ARE AS FOLLOWS. PER ARTICLE III, SECTION 13, THE CORPORATION SHALL HAVE THREE OR MORE INDEPENDENT DIRECTORS WHO SHALL OVERSEE MATTERS REQUIRED BY LAW OR OTHERWISE LAWFULLY DELEGATED BY THE BOARD. ARTICLE III, SECTION 14 WAS ADDED TO COVER CONFIDENTIALITY OF ALL BOARD AND COMMITEE MEETINGS AS WELL AS INFORMATION CONCERNING THE BUSINESS ACTIVITIES OF THE CORPORATION, EXCEPT AS AUTHORIZED BY THE BOARD OR UNTIL THERE HAS BEEN GENERAL PUBLIC DISCLOSURE. ARTICLE IV NOW INCLUDES A NEW SECTION 1 - DESIGNATION OF COMMITTEES, GIVING THE BOARD AUTHORITY TO DESIGNATE COMMITEES OF THE BOARD AND COMMITTEES OF THE CORPORATION, SUBJECT TO MEMBER RATIFICATION, EXCEPT DESIGNATION OF AN EXECUTIVE COMMITEE, WHICH DOES NOT REQUIRE SUCH RATIFICATION. ARTICLE IV, SECTION 2, NOW COVERS COMMITTEES OF THE BOARD AND ITS REQUIREMENTS. ARTICLE IV, SECTION 3, NOW COVERS THE DESIGNATION OF AN EXECUTIVE COMMITTEE. COMMITTEES OF THE CORPORATION ARE ALSO ADDRESSED IN SECTION 3. FORMERLY SECTION 2, UNDER ARTICLE IV - AUDIT COMMITTEE - WAS ENTIRELY REMOVED. UNDER ARTICLE V, SECTION 1, AN EMPLOYEE OF THE CORPORATION CANNOT SERVE AS CHAIR OF THE BOARD OR HOLD ANY OTHER TITLE WITH SIMILAR RESPONSIBILITIES, UNLESS APPROVED BY TWO THIRDS VOTE OF THE ENTIRE BOARD AND THE BOARD DOCUMENTS, IN WRITING, THE BASIS FOR ITS APPROVAL. UNDER ARTICLE V, SECTION 4, THE LANGUAGE AGAINST AN EMPLOYEE OF THE CORPORATION SERVING AS CHAIR OF THE BOARD OR ANY OTHER TITLE WITH SIMILAR RESPONSIBILITIES HAS BEEN REMOVED. |
| Form 990 Review Process | Form 990, Part VI, Line 11b AFTER THE FORM 990 HAS BEEN PREPARED AND COMPLETED INTERNALLY IT IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. AN EXTERNAL REVIEW OF THE FORM 990 IS THEN PERFORMED BY THE ORGANIZATION'S OUTSIDE ACCOUNTANTS (KPMG). THE ORGANIZATION'S BOARD OF DIRECTORS HAS DELEGATED THE REVIEW PROCESS TO THE AUDIT COMMITTEE OF THE UNIVERSITY AT BUFFALO FOUNDATION, INC., AN AFFILIATED ENTITY. THE FORM 990 IS DISCUSSED AT A MEETING OF THE AUDIT COMMITTEE PRIOR TO FILING THE RETURN. UPON COMPLETION OF THE AUDIT COMMITTEE'S REVIEW, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE. |
| Explanation of Monitoring and Enforcement of Conflicts | Form 990, Part VI, Line 12c ALL DIRECTORS AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO COMPLETE A WRITTEN CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. ALL DIRECTORS AND OFFICERS ARE ALSO REQUIRED TO PROVIDE ANY UPDATED INFORMATION ON POTENTIAL CONFLICTS THAT ARISE PRIOR TO THE COMPLETION OF THE DISCLOSURE STATEMENT. ALL DISCLOSURE STATEMENTS ARE REVIEWED BY THE ORGANIZATION'S MANAGEMENT AND LEGAL COUNSEL. ALL SITUATIONS THAT ARE DEEMED TO REPRESENT A CONFLICT AS DESCRIBED IN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, ARE REPORTED TO THE BOARD CHAIR. THE CONFLICTED INDIVIDUAL MUST RECUSE HIMSELF OR HERSELF DURING THE DISCUSSION OF AND VOTING ON AN ACTION THAT INVOLVES THE IDENTIFIED CONFLICT. |
| Other Organization Documents Publicly Available | Form 990, Part VI, Line 19 THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND THE FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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