Daemen College
- Assets
- $83.0m
- Revenue
- $88.9m
- Investments
- $0.0
- Employees
- 1,361
- Location
- Amherst, NY
- Founding
- 11/1951
- Data as of
- 05/2022
- EIN
- 16-0759798
Organization Overview
Daemen College is located in Amherst, NY. The organization was established in 1951. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Daemen College employed 1,361 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Daemen College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Daemen College generated $88.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $85.0m during the year ending 05/2022. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION - PRIVATE, INDEPENDENT COLLEGE THE MISSION OF DAEMEN COLLEGE IS TO PREPARE CREATIVE, ETHICALLY-MINDED LEADERS FOR A DIVERSE AND INTERCONNECTED WORLD BY INTEGRATING THE INTELLECTUAL STRENGTHS ACQUIRED THROUGH THE LIBERAL ARTS WITH THE PREPARATION NECESSARY FOR PROFESSIONAL EXCELLENCE TO MAKE MEANINGFUL CONTRIBUTIONS TO SOCIETY.
Describe the Organization's Program Activity:
SEE ABOVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Gary A Olson President | Officer | 40 | $471,065 |
Diane Bessel Professor | 40 | $163,105 | |
Robert Rood VP Of Business Affairs | Officer | 40 | $147,328 |
Dr Michael Brogan VP Of Academic Affairs | Officer | 40 | $145,987 |
Dr Gregory J Nayor VP Of Student Affairs | Officer | 40 | $144,846 |
Innus Cara Professor | 40 | $130,020 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hodgson Russ Llp Legal Services | 5/30/22 | $371,928 |
Energymark Llc Utility Supplier | 5/30/22 | $330,808 |
Ruffalo Noel Levitz Llc Enrollment Consult/software | 5/30/22 | $336,942 |
Ellucian Company Lp Computer Program Consultant Erp System | 5/30/22 | $178,573 |
Dell Marketing Lp Computers | 5/30/22 | $143,518 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $42,675 |
| Related organizations | $0 |
| Government grants | $11,404,690 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,639,162 |
| Noncash contributions included in lines 1a–1f | $83,691 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,086,527 |
| Total Program Service Revenue | $73,338,834 |
| Investment income | $531,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $682,354 |
| Net Income from Fundraising Events | $20,839 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,907,221 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,611,340 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,581,314 |
| Compensation of current officers, directors, key employees. | $1,322,241 |
| Compensation to disqualified persons | $25,240,326 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,449,018 |
| Other employee benefits | $5,151,421 |
| Payroll taxes | $1,926,656 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180,227 |
| Fees for services: Accounting | $38,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $165,781 |
| Fees for services: Other | $3,337,562 |
| Advertising and promotion | $663,756 |
| Office expenses | $1,546,646 |
| Information technology | $897,360 |
| Royalties | $1,963 |
| Occupancy | $2,498,158 |
| Travel | $811,292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,087,456 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,263,509 |
| Insurance | $162,164 |
| All other expenses | $2,108,214 |
| Total functional expenses | $85,037,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $684,239 |
| Savings and temporary cash investments | $4,029,906 |
| Pledges and grants receivable | $6,739,537 |
| Accounts receivable, net | $724,045 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $457,990 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $428,888 |
| Net Land, buildings, and equipment | $44,558,181 |
| Investments—publicly traded securities | $25,079,230 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $307,521 |
| Total assets | $83,009,537 |
| Accounts payable and accrued expenses | $1,182,905 |
| Grants payable | $0 |
| Deferred revenue | $906,971 |
| Tax-exempt bond liabilities | $29,399,837 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,031,104 |
| Total liabilities | $34,520,817 |
| Net assets without donor restrictions | $36,244,242 |
| Net assets with donor restrictions | $12,244,478 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $83,009,537 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Daemen College has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Little-Kittinger Foundation Inc Buffalo, NY PURPOSE: CHARITABLE | $8,500 |
Little-Kittinger Foundation Inc Buffalo, NY PURPOSE: CHARITABLE | $8,500 |
Endowment Analysis
| Beg. Balance | $21,456,423 |
| Earnings | -$1,394,611 |
| Admin Expense | $140,127 |
| Net Contributions | $93,966 |
| Other Expense | $44,672 |
| Grants | $141,775 |
| Ending Balance | $19,829,204 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berklee College Of Music Inc Boston, MA | $854,558,047 | $384,612,408 |
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Trustees Of Amherst College Amherst, MA | $4,260,760,426 | $407,702,412 |
Wellesley College Wellsley, MA | $4,125,529,097 | $515,515,442 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Williams College Williamstown, MA | $5,589,417,372 | $397,351,793 |
Wesleyan University Middletown, CT | $1,706,429,000 | $326,592,000 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Emerson College Boston, MA | $1,139,244,716 | $275,696,398 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Trustees Of The College Of The Holy Cross Worcester, MA | $1,320,181,892 | $265,241,305 |
Babson College Babson Park, MA | $1,084,295,364 | $304,101,925 |