Daemen University
Nonprofit profile at a glance
- EIN
- 160759798
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Amherst, NY, USA
- Phone
- 7168398218
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Undergraduate College (4-year)
Reported finances
- Revenue
- $92,503,760
- Expenses
- $91,579,144
- Assets
- $86,714,837
- Liabilities
- $36,449,442
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
44 people listed
Executive titles in this filing
- Dr Gary A Olson (President)
- Dr Michael Brogan (Executive Vice President for Academic Affairs and Provost)
- Thomas Wojciechowski (Executive Director of Web Communications)
- Mimi Steadman (Vice President for Strategic Initiatives)
- Traci Murphy (Vice President for Athletics)
- Timothy Balkin (Vice President of Business Affairs)
Highest reported compensation
- Dr Gary A Olson (President): $587,604 total reported compensation
- Dr Michael Brogan (Executive Vice President for Academic Affairs and Provost): $206,585 total reported compensation
- Thomas Wojciechowski (Executive Director of Web Communications): $190,628 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Private, independent university providing higher education to students. The mission of Daemen University 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.
Operating model
- Revenue model
- Other-operating. 89% of the money available for current operations came from other operating revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 66
- Accountability: 91
- Sustainability: 37
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.3%; rating input score 93
- Program expense ratio: 92.4%; rating input score 92
- Fundraising efficiency: $17.81 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 92.9%; rating input score 93; 42nd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1%; rating input score 37; 37th percentile among comparable filings
- Total-asset coverage ratio: 0.95; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 0.42; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 2.6% per year; rating input score 100; 19th percentile among comparable filings
- Revenue growth: 3% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: -0% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 93.3% of revenue deployed · 92.4% of spending went to programs
- Governance: 26 of 28 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $84.6M in reported program spending
- Leadership: top reported pay $588K · 44 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.1M reported
- Consistency: 42 of 42 current checks pass
- Schedules: 13 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 18 filed money-flow records
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Review — Financial Efficiency: Fundraising efficiency scored 55/100.
- Moderate — Sustainability: Operating margin scored 37/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.