Under Castellani, who has been affiliated with it since 1986, the foundation has participated in a major reorganization of the development program. This has created the framework for the university's emerging fund-raising initiative, and has resulted in a significant increase in philanthropic support for UB.

The foundation promotes the activities and programs of the University at Buffalo by providing support and advice regarding fund- raising, managing gifts and grants on behalf of the university, providing a wide range of financial services for various units of the university, developing and managing real property on behalf of the university and providing a broad base of private-sector support for the university through the foundation's trustees and directors.

The board of trustees is responsible for raising community awareness of the need for private support for UB, soliciting gifts on behalf of it and managing assets received by the foundation. Its stewardship of these assets has meant an average annual compounded return in excess of 13 percent on the foundation's investment of donated funds over the last 10 years.

Reginald B. Newman II, president of Noco Energy Corp., was elected vice chair of the foundation. Newman has been affiliated with the board since 1989. Prior to becoming vice chair, he was chair of the investment committee, a position he will retain in fiscal year 1995-96.

Other officers appointed by the foundation are: Richard E. Heath, Esq., secretary; and Donald A. Ross, treasurer.

The foundation also re-elected several trustees for three-year terms. They are Randall I. Benderson, vice president, Benderson Development Co., Inc.; Ellen E. Grant Bishop, commissioner, Erie County Department of Mental Health; Frank L. Ciminelli, president, Ciminelli Development Co., Inc.; Gerald S. Lippes, partner in the law firm of Lippes, Silverstein, Mathias & Wexler, and William H. Pearce, president, Pearce and Pearce Co., Inc.

The following directors were re-elected to three-year terms: Sheldon M. Berlow, chairman, Berlow Real Estate, Inc.; Kenneth L. Gayles, M.D.; Lawrence D. Jacobs, M.D., head, Department of Neurology, The Buffalo General Hospital; Ross B. Kenzie, retired chairman, Goldome; Leonard Rochwarger, chairman and chief executive officer, Rockmont Corp., and Harry R. Stainrook, executive vice president of trusts and investments, Manufacturers and Traders Trust Co.