2018-04-06T10:34:26-07:00 2017-05-31 743118183 Drescher &Malecki LLP 3083 William Street Cheektowaga NY 14227 990 2016-06-01 160759798 Daemen College DAEM 7168398218 4380 Main Street Amherst NY 142263592 Lisa Arida Interim VP of Business Affairs 7168398505 2018-03-06 1 Matthew Montalbo P01858118 7165652299 2018-03-06 50.75.185.98 2016 2021-01-29 14:40:06Z Dr Gary A Olson 4380 Main Street Amherst NY 142263592 74544957 0 X www.daemen.edu X 1947 NY Education - private, independent college. 30 28 1683 35 0 0 3435071 2725130 69000261 70039679 916456 896940 934003 863205 74285791 74524954 24862386 26072769 0 0 31878608 33108853 0 0 695204 17166628 17194526 73907622 76376148 378169 -1851194 83807146 83317467 40679464 38992435 43127682 44325032 Private, independent college providing higher education to students. 0 0 70231084 26072769 71799824 See above. 0 0 0 70231084 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 289 0 1 1683 1 0 0 0 0 0 1 1 0 0 0 0 X 30 28 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 0 1 0 X Lisa Arida 7168398218 4380 Main Street Amherst NY 142263592 Thomas Stewart Board Chairman 0.8 0 X 0 0 0 Catherine LePage-Campbell Vice Chair 0.4 0 X 0 0 0 Richard Day Board Secretary/Treasurer 0.80 0 X 0 0 0 David Anderson Trustee 0.4 0 X 0 0 0 Gary Bichler Trustee 0.4 0 X 0 0 0 Caroline Burek Trustee 0.4 0 X 0 0 0 Audre Bunis Trustee 0.4 0 X 0 0 0 Robert Chur Trustee 0.4 0 X 0 0 0 Dale Demyanick Trustee 0.4 0 X 0 0 0 Jed Dietrich Trustee 0.4 0 X 0 0 0 Dennis Elsenbeck Trustee 0.4 0 X 0 0 0 Dorothy Ferguson Trustee 0.4 0 X 0 0 0 Alan Gracie Trustee 0.4 0 X 0 0 0 Donald Hutton Trustee 0.4 0 X 0 0 0 Hratch Karamanoukian Trustee 0.4 0 X 0 0 0 Seymour Knox IV Trustee 0.4 0 X 0 0 0 Gail Mitchell Trustee 0.4 0 X 0 0 0 Dorothy Mueller OSF Trustee 0.4 0 X 0 0 0 Thomas Reynolds Trustee 0.4 0 X 0 0 0 Paul Saffrin Trustee 0.4 0 X 0 0 0 Shandra Spicer Trustee 0.4 0 X 0 0 0 Connie Vari Trustee 0.4 0 X 0 0 0 Jeffrey Wellington Trustee 0.4 0 X 0 0 0 Arthur Wingerter Trustee 0.4 0 X 0 0 0 Wayne Wisbaum Trustee 0.4 0 X 0 0 0 Edith Wyss OSF Trustee 0.4 0 X 0 0 0 Brenda Young Trustee 40 0 X 90187 0 14211 John Yurtchuk Trustee 0.4 0 X 0 0 0 JoEtte Zaccagnino Trustee 0.4 0 X 0 0 0 Dr Gary A Olson President 40 0 X X 291616 0 35091 Dr Michael Brogan VP of Student Affairs 40 0 X 131255 0 25443 DR Patricia Brown VP of Enrollment Management 40 0 X 123554 0 24804 Dr Gregory J Nayor VP of Student Affairs 40 0 X 117522 0 24163 Richard G Schott VP of Business Affairs 40 0 X 117413 0 8411 Lisa A Arida Interim VP of Business Affairs 40 0 X 84359 0 34094 Craig Harris VP of Institutional Advancement 40 0 X 58583 0 19334 Deborah Scott Interim VP of Institutional Advancement 40 0 X 57704 0 144 Gary Styn Professor 40 0 X 131620 0 41458 Dr Linda Kuechler Professor 40 0 X 126772 0 22354 Dr Greg Shutts Professor 40 0 X 125937 0 24142 Joel Patterson Professor 40 0 X 125478 0 27981 Virginia Hart Professor 40 0 X 119968 0 13513 1701968 0 315143 26 0 1 0 James Girard 42 Pinewoods Ave Tonawanda NY 14150 Painting & Construction 231736 R&P Oakhill Development 3556 Lakeshore Rd STE 620 Buffalo NY 14219 Construction 221762 Ruffalo Noel Levitz LLC 1025 Kirkwood Pkwy Cedar Rapids IA 52404 Enrollment Consulting/Software 223526 D&F Travel Inc 338 Central Ave Dunkirk NY 14048 Transportation 143070 Vandis Inc 1 Albertson Ave STE 1 Albertson NY 11507 Technology 112838 6 0 0 84468 0 1762752 877910 16411 2725130 Tuition & Fees 611310 61137043 61137043 0 0 Sales & Service of Auxiliary Enterprise 611710 8902636 8902636 0 0 0 0 0 0 70039679 542442 0 0 542442 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 354498 0 0 0 354498 0 354498 0 0 354498 49301 84468 20003 29298 0 29298 0 0 0 0 0 0 0 0 0 0 0 0 Student Activities Revenue 900099 165684 165684 0 0 Bookstore/Food Commission 900099 134366 134366 0 0 Overhead Recoveries 900099 34168 34168 0 0 499689 499689 0 0 833907 74524954 70873586 0 926238 0 0 26072769 26072769 0 0 0 0 1310057 102907 1056186 150964 0 23913464 21641854 1958926 312684 1376299 1203107 148252 24940 4660625 4217898 381786 60941 1848408 1602464 213089 32855 0 0 0 0 42015 0 42015 0 40850 0 40850 0 0 0 0 0 0 0 135998 0 135998 0 559979 505315 36590 18074 255502 255502 0 0 2029653 1641796 351617 36240 641536 463727 177809 0 1994 1994 0 0 3072135 2986947 85188 0 1159083 956652 170280 32151 0 0 0 0 0 0 0 0 1786065 1786065 0 0 0 0 0 0 2882023 2882023 0 0 171313 75231 96082 0 Food Service: Students 1675254 1675254 0 0 Resident Assistants 233039 233039 0 0 Direct Mail Services 117372 117372 0 0 2390715 1809168 555192 26355 76376148 70231084 5449860 695204 X 815692 871160 6613746 4012355 1296772 1269055 729501 1173736 0 0 0 0 2435380 2199014 0 0 388067 234876 100639587 50134745 50982198 50504842 17244999 19716122 3300791 3336307 0 0 0 0 0 0 83807146 83317467 713115 649469 0 0 1231649 978057 28272417 28429956 110392 626 0 0 0 0 0 0 10351891 8934327 40679464 38992435 X 34930828 35437962 7379124 8004776 817730 882294 43127682 44325032 83807146 83317467 -1851194 3048544 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 12479822 394682 1706010 42134 0 104830 14433550 12300284 869308 -582291 44740 0 62739 12479822 10022595 1786637 596649 30565 0 75032 12300284 8613531 357983 1153310 32210 0 70019 10022595 7160726 140438 1401919 24750 0 64802 8613531 0.55 0.06 0.39 0 0 0 1035115 1035115 0 65596680 23252288 42344392 0 0 0 0 0 18550183 16189491 2360692 0 15457609 10692966 4764643 50504842 Accrued salaries, wages, and pension 2002581 Accrued interest 96461 US Government advances 827502 Derivative liability 6007783 8934327 77593501 1523971 0 0 1524573 3048544 74544957 0 -20003 -20003 74524954 76396151 0 0 0 20003 20003 76376148 0 0 0 76376148 Schedule D, Part IV, Line 2b The College performs administrative functions for one agency. The amounts reported represent the assets the College has fiduciary duties to maintain and control. Schedule D, Part V, Line 4 Endowment funds are intended to be used for scholarships or other expenditures to further the College's mission of higher education. Schedule D, Part XI, Line 2d Represents change in the value of the College's derivative instrument. Schedule D, Part XI, Line 4b Constitutes fundraising expenses that are included on Part VIII, line 8b. Schedule D, Part XII, Line 2d Represents fundraising expenses shown on 990, Part VIII, line 8b. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The policy is communicated through the website, student and employment handbooks, print ads, and broadcast. Schedule E, Part I, Line 6 The College receives aid from New York State, Including: Bundy Aid, Higher Education Opportunity Grant, TLQP Research Grant, NYS Developmental Disability Grants for Medically Fragile and Inclusive Fitness, DASNY Grant and New York State Library Grant. The College also receives aid from the US Government, including: US Department of Education Title III and Title IV programs. Annual Fund 84468 84468 0 0 0 0 0 0 0 Wildcat Golf Tournament 49301 0 49301 0 0 15507 0 0 4496 0 133769 84468 49301 0 0 15507 0 0 4496 20003 29298 1 Student Financial Aid Programs 2351 26072769 0 Book Schedule I, Part I, Line 2 Student financial aid is credited to the individual student accounts and their net balances are monitored by the Business Office. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Dr Gary A Olson President 267616 0 0 0 24000 0 13166 0 21925 0 326707 0 0 0 Dr Michael Brogan VP of Student Affairs 109742 0 0 0 21513 0 10756 0 14687 0 156698 0 0 0 Craig Harris VP of Institutional Advancement 53718 0 0 0 4865 0 4865 0 14469 0 77917 0 0 0 Richard G Schott VP of Business Affairs 93413 0 0 0 24000 0 7998 0 413 0 125824 0 0 0 DR Patricia Brown VP of Enrollment Management 115265 0 0 0 8289 0 10140 0 14664 0 148358 0 0 0 Dr Gregory J Nayor VP of Student Affairs 111574 0 0 0 5948 0 9517 0 14646 0 141685 0 0 0 Gary Styn Professor 126674 0 0 0 4946 0 7913 0 33545 0 173078 0 0 0 Joel Patterson Professor 120171 0 0 0 5307 0 8492 0 19489 0 153459 0 0 0 Dr Linda Kuechler Professor 121934 0 0 0 4838 0 7741 0 14613 0 149126 0 0 0 Dr Greg Shutts Professor 110596 0 0 0 15341 0 9532 0 14610 0 150079 0 0 0 Virginia Hart Professor 96483 0 0 0 23485 0 8184 0 5329 0 133481 0 0 0 Schedule J, Part I, Line 1a The President of the College is provided with a residence for personal use. Schedule J, Part I, Line 3 The College uses the following to establish the compensation of the organization's CEO/President: Compensation Committee, written employment contract, and approval of the Board of Trustees. A Town of Amherst Industrial Development Agency 161136451 031362EH5 2006-06-30 20925000 Refund & defease 2001A bonds 0 0 0 B Town of Amherst Industrial Development Agency 161136451 031362EJ1 2006-06-30 17075000 Construction & equipment for new library 0 0 0 A 5880000 18275654 20925000 1436398 0 0 434918 637393 0 0 140637 0 2006 0 1 1 1 B 3140000 0 17075000 1064941 575186 0 365107 568492 0 14500435 839 0 2006 0 0 1 1 A 0 0 0 0 0 0 0 1 0 0 B 0 0 0 0 0 0 0 1 0 0 A 0 0 0 1 1 1 Morgan Stanley 25 0 0 1 Morgan Stanley 25.0 1 0 0 B 0 0 0 1 1 1 Morgan Stanley 30.0 0 0 1 Morgan Stanley 30.0 1 0 0 A 0 B 0 Schedule K, Part IV, Line 2c-06/30/2006 20,925,000 Town of Amherst Industrial Development Agency No rebate due for the Bond issue A; the rebate calculation date was 10/28/2016. This calculation was based on the Interim Arbitrage Rebate Analysis prepared for Daemen College by BLX Group for the period 6/30/2006 through 10/3/2016. The next rebated installment will be due not later than December 2, 2021, 60 days after 10/3/2021. Schedule K, Part IV, Line 2c-06/30/2006 17,075,000 Town of Amherst Industrial Development Agency No rebate due for the issue B; the rebate calculation date was 9/26/2016. This calculation was based on the Interim Arbitrage Rebate Analysis prepared for Daemen College by BLX Group for the period 6/30/2006 through 6/30/2016. The next rebate installment will be due not later than 11/26/2021, 60 days after 9/26/2021. Gary Bichler R&P Oakhill Trustee 127310 Construction project 0 Schedule L, Part IV Prior to becoming a trustee of the College, the individual's business entered into a contract with the College to work on a construction project to remodel classrooms. X 4 15848 FMV X 8 spaces in dorm 8 55664 FMV X gift cards 1 2000 FMV X airline credit 2 262 FMV 0 1 1 Schedule M, Part I, Line 32b The College uses an investment broker to sell donated stocks if they do not align with the investment policies of the College. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Board of Trustees prior to filing. Form 990, Part VI, Section B, Line 12c The written conflict of interest policy covers employees and trustees. Officers ensure that all of their employees required to submit a Conflict of Interest Statement do so. Form 990, Part VI, Section B, Line 15 The College President's compensation is reviewed and approved by the Executive Committee of the Board of Trustees with documentation in the minutes. Form 990, Part VI, Section C, Line 19 Copies of the governing documents, the conflict of interest policy, and financial statements are made available upon request. Form 990, Part X, Line 14 During the year ended May 31, 2016, the College changed its method of accounting for deferred bond issuance costs by adopting FASB Accounting Standards Update 2015-03, Interest-Imputation of Interest. Accordingly, bonds, notes payable and capital lease obligations are reported net of deferred bond issuance costs of $2,104,821 and $2,255,165 for the years ended May 31, 2017 and 2016, respectively. Daemen College Physical Therapy Inc 4380 Main Street Amherst NY 14226 462438676 Physical therapy clinic NY 501(c)(3) 9 N/A 0 4380 Main Street Inc 4380 Main Street Amherst NY 14226 161003033 Liquor License NY N/A C 0 1387 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 Daemen College Physical Therapy Inc q 78377 Actual expenses incurred.