DAEMEN UNIVERSITY

EIN: 160759798 501(c)(3) Education

Amherst, NY

Total Revenue
$92,503,760
Total Expenses
$91,579,144
Total Assets
$86,714,837
Net Assets
$50,265,395
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1947
Legal Domicile
NY
Principal Officer
Timothy Balkin
Phone
7168398218
Tax Period
2024-06-01 to 2025-05-31

DAEMEN UNIVERSITY, founded in 1947, is a mid-sized nonprofit in the Education sector that reported $92.5M in total revenue in fiscal year 2024.

Mission

Education - Private, Independent University. 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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,138,547
Program Service Revenue $78,926,041
Investment Income $2,577,894
Other Revenue $1,861,278
TOTAL REVENUE $92,503,760

Expense Breakdown

Grants Paid $29,685,502
Salaries & Benefits $35,881,748
Fundraising Expenses $513,015
Program Expenses $84,596,448
Other Expenses $26,011,894
TOTAL EXPENSES $91,579,144

Year-over-Year Comparison

2024 2023 Change
Revenue $92,503,760 $93,127,130 0.0%
Expenses $91,579,144 $92,764,292 0.0%
Net Income $924,616 $362,838 +1.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
28
Independent Members
26
Employees
1321
Volunteers
60

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$2,009,100
Total Directors
27
$92,332
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr Gary A Olson President 40
Officer
$542,315 $45,289 $587,604
Dr Michael Brogan Executive Vice President for Academic Affairs and Provost 40
Officer
$184,765 $21,820 $206,585
Thomas Wojciechowski Executive Director of Web Communications 40
Highest
$102,282 $88,346 $190,628
Gregory Ford Dean of the Scott Bieler College of Health Professions 40
Highest
$119,680 $44,989 $164,669
Diane Bessel Matteson Associate Professor 40
Highest
$154,652 $8,944 $163,596
Melaine Kenyon VP of Information Technology 40
Officer
$131,939 $30,326 $162,265
Elizabeth Wright AVP OF Academic Relations 40
Highest
$113,645 $47,793 $161,438
Mimi Steadman Vice President for Strategic Initiatives 40
Officer
$128,684 $27,635 $156,319
Heather Maloney-Stassen Founding Dean & Vice Provost 40
Highest
$124,476 $27,282 $151,758
Kerry Spicer Vice Pres. for Student Affairs & Dean of Students 40
Officer
$112,099 $29,733 $141,832
Traci Murphy Vice President for Athletics 40
Officer
$114,935 $26,578 $141,513
Mario Hicks VP of Institutional Advancement 40
Officer
$123,600 $3,797 $127,397
Jacquelyn Dole AVP of Business Affairs & Controller 40
Officer
$110,577 $8,479 $119,056
Tiffany Hamilton VP Institutional Equity & Belonging & HEOP Director 40
Officer
$90,423 $24,477 $114,900
Robert Rood VP of Business Affairs 40
Officer
$86,960 $5,899 $92,859
Michael Ross Trustee 40
Director
$92,038 $294 $92,332
Timothy Balkin Vice President of Business Affairs 40
Officer
$82,277 $239 $82,516
Lisa A Arida AVP of Business Affairs & Cont. 40
Officer
$70,199 $6,055 $76,254
John Yurtchuk Chair 0.8
Director
$0 $0 $0
Paul Saffrin Vice Chair 0.8
Director
$0 $0 $0
JoEtte Zaccagnino Secretary/Treasurer 0.8
Director
$0 $0 $0
Lana Benatovich Trustee 0.4
Director
$0 $0 $0
Scott Bieler Trustee 0.4
Director
$0 $0 $0
Byron Brown Trustee 0.4
Director
$0 $0 $0
Mark Chason Trustee 0.4
Director
$0 $0 $0
JoAnn Falletta Trustee 0.4
Director
$0 $0 $0
Dorothy Ferguson Trustee 0.4
Director
$0 $0 $0
Scott Friedman Trustee 0.4
Director
$0 $0 $0
Terrence Gilbride Trustee 0.4
Director
$0 $0 $0
Robert Gioia Trustee 0.4
Director
$0 $0 $0
Jo-Ann Grabowski Trustee 0.4
Director
$0 $0 $0
Alan Gracie Trustee 0.4
Director
$0 $0 $0
Johnathan Graves Trustee 0.4
Director
$0 $0 $0
Jennifer Gurske-Deperio Trustee 0.4
Director
$0 $0 $0
Brian Higgins Trustee 0.4
Director
$0 $0 $0
Candace Johnson Trustee 0.4
Director
$0 $0 $0
Kathy Lawley-Best Trustee 0.4
Director
$0 $0 $0
Lynn Marinelli Trustee 0.4
Director
$0 $0 $0
Rebecca J McCormick-Boyle Trustee 0.4
Director
$0 $0 $0
Gail Y Mitchell Trustee 0.4
Director
$0 $0 $0
Thomas Reynolds Trustee 0.4
Director
$0 $0 $0
Shandra Spicer Trustee 0.4
Director
$0 $0 $0
Alan Turner II Trustee 0.4
Director
$0 $0 $0
Steven Zenger Trustee 0.4
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $92,503,760 $91,579,144 $86,714,837 $924,616
2024 $93,127,130 $92,764,292 $84,222,864 $362,838
2023 $86,763,348 $86,606,944 $81,683,749 $156,404
2022 $88,907,221 $85,037,434 $83,009,537 $3,869,787
2021 $82,827,947 $80,060,359 $82,117,002 $2,767,588
2020 $77,822,887 $77,999,943 $77,974,744 $-177,056
2019 $74,762,772 $76,547,391 $79,154,597 $-1,784,619
2018 $75,892,741 $75,252,131 $84,080,952 $640,610
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