Civic Intelligence

Canisius University of Buffalo New York

990 • Fiscal year 2023 • EIN 16-0743942

Jun 01, 2022 to May 31, 2023 • Filed on Dec 06, 2023

2001 Main StreetBuffalo, NY 14208

(716) 888-2483

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.24x

Higher debt load relative to assets than 43% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.66x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

25th percentile

-4.6%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

10th percentile

$283,365

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

12th percentile

-4.6%

Faster asset growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

30th percentile

-4.1%

Faster revenue growth than 30% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Down

$276,069,279

Down $13,417,500 (-4.6%) from 2022

Net Assets

Down

$210,392,016

Down $9,115,587 (-4.2%) from 2022

Liabilities

Down

$65,677,263

Down $4,301,913 (-6.1%) from 2022

Revenue

Down

$99,933,030

Down $4,246,606 (-4.1%) from 2022

Expenses

Down

$104,578,532

Down $4,082,350 (-3.8%) from 2022

Net Income

Down

-$4,645,502

Down $164,256 (-3.7%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2010: $253,778,542Liabilities 2010: $90,259,456Net Assets 2010: $163,519,0862010Assets 2011: $269,536,635Liabilities 2011: $88,261,767Net Assets 2011: $181,274,8682011Assets 2012: $278,298,168Liabilities 2012: $99,396,747Net Assets 2012: $178,901,4212012Assets 2013: $290,969,501Liabilities 2013: $103,143,545Net Assets 2013: $187,825,9562013Assets 2014: $301,785,835Liabilities 2014: $100,699,046Net Assets 2014: $201,086,7892014Assets 2015: $306,747,020Liabilities 2015: $100,670,504Net Assets 2015: $206,076,5162015Assets 2016: $285,210,076Liabilities 2016: $87,819,376Net Assets 2016: $197,390,7002016Assets 2017: $291,679,221Liabilities 2017: $82,924,690Net Assets 2017: $208,754,5312017Assets 2018: $291,097,821Liabilities 2018: $85,420,151Net Assets 2018: $205,677,6702018Assets 2019: $278,126,180Liabilities 2019: $77,797,548Net Assets 2019: $200,328,6322019Assets 2020: $270,907,397Liabilities 2020: $79,084,989Net Assets 2020: $191,822,4082020Assets 2021: $306,081,078Liabilities 2021: $80,708,024Net Assets 2021: $225,373,0542021Assets 2022: $289,486,779Liabilities 2022: $69,979,176Net Assets 2022: $219,507,6032022Assets 2023: $276,069,279Liabilities 2023: $65,677,263Net Assets 2023: $210,392,0162023Assets 2024: $278,789,656Liabilities 2024: $62,054,431Net Assets 2024: $216,735,2252024Assets 2025: $284,356,376Liabilities 2025: $57,721,902Net Assets 2025: $226,634,4742025

Highlighted filing

2023

Assets$276,069,279
Liabilities$65,677,263
Net Assets$210,392,016

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $137,809,8272010Expenses 2011: $140,826,0872011Expenses 2012: $149,580,7812012Expenses 2013: $150,467,5992013Revenue 2014: $156,586,858Expenses 2014: $143,634,417Net Income 2014: $12,952,4412014Revenue 2015: $147,029,993Expenses 2015: $140,837,419Net Income 2015: $6,192,5742015Revenue 2016: $144,648,640Expenses 2016: $140,244,158Net Income 2016: $4,404,4822016Revenue 2017: $135,314,816Expenses 2017: $135,249,561Net Income 2017: $65,2552017Revenue 2018: $128,671,302Expenses 2018: $135,550,596Net Income 2018: -$6,879,2942018Revenue 2019: $104,254,664Expenses 2019: $105,850,798Net Income 2019: -$1,596,1342019Revenue 2020: $104,781,287Expenses 2020: $109,494,505Net Income 2020: -$4,713,2182020Revenue 2021: $97,837,651Expenses 2021: $102,140,825Net Income 2021: -$4,303,1742021Revenue 2022: $104,179,636Expenses 2022: $108,660,882Net Income 2022: -$4,481,2462022Revenue 2023: $99,933,030Expenses 2023: $104,578,532Net Income 2023: -$4,645,5022023Revenue 2024: $103,771,945Expenses 2024: $110,927,858Net Income 2024: -$7,155,9132024Revenue 2025: $110,653,916Expenses 2025: $109,872,092Net Income 2025: $781,8242025

Highlighted filing

2023

Revenue$99,933,030
Expenses$104,578,532
Net Income-$4,645,502
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Dec 6, 2023
Return Version
2022v5.0
Gross Receipts
$134,517,810
Mission and Program Overview

Mission

Canisius university is a private, independent roman catholic university, governed by an independent self perpetuating board of trustees under a charter granted by the board of trustees of the university of the state of new york. Established as a liberal arts college, the university has grown to include a graduate division, a school of business administration, a school of education and human services, and a summer session in addition to the college of arts and sciences.

Canisius university is a private, independent roman catholic university, governed by an independent self perpetuating board of trustees under a charter granted by the board of trustees of the university of the state of new york. Established as a liberal arts college, the univerty has grown to include a graduate division, a school of business administration, a school of education and human services, and a summer session in addition to the college of arts and sciences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$158,044,405$141,563,398▼ $16,481,007
Land, Buildings, and Equipment, Net$104,577,084$97,032,286▼ $7,544,798
Cash and Non-Interest-Bearing Accounts$7,298,463$16,337,516▲ $9,039,053
Pledges and Grants Receivable$10,264,708$8,041,140▼ $2,223,568
Accounts Receivable$3,301,538$6,751,672▲ $3,450,134
Savings and Temporary Cash Investments$3,149,794$2,894,564▼ $255,230
Other Notes and Loans Receivable, Net$1,794,638$958,677▼ $835,961
Total Assets$289,486,779$276,069,279▼ $13,417,500
Other Assets Total$1,056,149$2,490,026▲ $1,433,877
Liabilities
Tax Exempt Bond Liabilities$45,532,628$42,587,625▼ $2,945,003
Accounts Payable and Accrued Expenses$12,442,477$10,516,795▼ $1,925,682
Other Liabilities$6,803,148$6,879,219▲ $76,071
Deferred Revenue$4,973,731$5,489,254▲ $515,523
Mortgage Notes Payable Secured by Investment Property$227,192$204,370▼ $22,822
Total Liabilities$69,979,176$65,677,263▼ $4,301,913
Net Assets / Fund Balance
Net Assets With Donor Restrictions$139,231,617$140,377,911▲ $1,146,294
Net Assets Without Donor Restrictions$80,275,986$70,014,105▼ $10,261,881
Total Net Assets Fund Balance$219,507,603$210,392,016▼ $9,115,587
Total Liabilities and Net Assets / Fund Balance$289,486,779$276,069,279▼ $13,417,500

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$85,432,663$111,151,962$196,584,625
Equipment$6,143,851$56,262,379$62,406,230
Land$5,455,772-$5,455,772
Other Securities$141,563,398--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$155,680,773$2,645,936▼ $2,228,220$5,000,000$142,787,397
2021$159,983,803$2,854,467▲ $1,616,098$1,450,000$155,680,773
2020$124,459,540$4,656,361▲ $39,803,231$2,000,000$159,983,803
2019$129,200,979$3,772,713▼ $13,463$3,000,000$124,459,540
2018$133,912,453$3,086,373▲ $1,108,185$4,000,000$129,200,979
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip WitherspoonMEAN'S BASKETBALL COACHFT$271,861$11,504$283,365
Dr Sara R MorrisVP - Academic AffairsFT$199,463$68,364$267,827
Steve K StoutePresidentFT$172,732$77,765$250,497
Kimberly a VentiVP - Institutional AdvanceFT$150,424$82,053$232,477
Dr Denise RotondoDean - School of BusinessFT$175,657$52,055$227,712
John J HurleyPresident - Retired 7/1/22FT$166,859$42,798$209,657
Timothy P BalkinVP - Business/financeFT$178,441$11,805$190,246
Dr James GoldsteinProfessor - AccountingFT$163,266$20,620$183,886
DR JOSEPH O'DONNELLProfessor - AccountingFT$167,591$7,844$175,435
Dr Ian J RedpathProfessor - AccountingFT$154,576$20,587$175,163
Danielle IanniVP - Enrollment ManagementFT$155,872$7,483$163,355
Sandra EstanekVP Stud. Affairs Thru 7/15/22FT$100,880$3,692$104,572
Harold FieldsVP - Student AffairsFT$65,976$8,711$74,687

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Educational Dining ServicesFood ServicesPO BOX 654, Binghamton, NY 13902, Ca$3,105,995
Sepco INCDisaster Cleanup3556 LAKESHORE RD STE 620, Blasdell, NY 14219$2,250,000
Rp Oak Hill Building Company INCConstruction Services3198 UNION RD, Cheektowaga, NY 14227$1,540,224
Mlp Plumbing And Mechanical INCHvac And Maintenance Services2900 MAIN ST, Buffalo, NY 14214$1,215,434
Elbers Landscape Services INCLandscaping And Maintenance-$623,527
Revenue and Support

Revenue Composition

Contributions and Grants
$10,061,227
Program Service Revenue
$78,196,800
Investment Income
$-231,971
Other Revenue
$11,906,974
All Other Contributions
$7,425,258
Change in Net Assets
$-4,645,502

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded18$255,577Sale of Comparables
Other Non Cash Contri Table5$42,548Cost
Total Noncash Contributions23$298,125-

Audited Revenue Reconciliation

Revenue per Audited Statements
$70,045,684
Revenue Not Reported on Financial Statements
$29,887,346
Revenue Not Reported on Form 990
$-4,408,094
Other Revenue Adjustments
$29,887,346
Total Revenue per Audited Statements
$65,637,590
Total Revenue per Form 990
$99,933,030
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$37,805,569
Grants and Similar Amounts Paid$34,081,955
Other Expenses$32,691,008
Total Fundraising Expense$1,656,954
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$34,081,955--$34,081,955
Other Salaries and Wages$21,455,288$5,363,822$785,663$27,604,773
Depreciation Depletion$5,397,281$825,466$126,995$6,349,742
Other Employee Benefits$4,388,986$1,212,746$173,249$5,774,981
Payroll Taxes$1,677,868$463,621$66,232$2,207,721
Other Expenses$1,310,227$634,823$287,102$1,945,050
Interest$1,442,965$220,689$33,952$1,697,606
Current Officers, Directors, Trustees, and Key Employees$367,587$740,415$151,368$1,259,370
All Other Expenses-$1,258,124-$1,258,124
Pension Plan Contributions$741,065$185,266$32,393$958,724
Fees for Services Legal-$258,670-$258,670
Information Technology-$55,000-$55,000
Fees for Services Accounting-$54,235-$54,235
Total Functional Expenses$85,395,846$17,525,732$1,656,954$104,578,532

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$104,578,532
Total Expenses per Audited Statements$74,753,177
Expenses per Audited Statements$74,691,186
Expenses Not Reported on Financial Statements$29,887,346
Other Expense Adjustments$29,887,346
Expenses Not Reported on Form 990$61,991
International Activity

International Summary

Offices
0
Employees
0
Spending
$507,478

International Compliance

Activity in boycott countries
Yes
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesStudent Refunds, Software, Study Abroad, Travel, Student Recruiting00$204,412
North America - Canada and Mexico, But Not the United StatesProgram ServicesStudent Recruiting, Software, Professional Services, Student Refunds, Student and Faculty Travel00$101,762
Central America and the CaribbeanProgram ServicesFaculty Travel and Research00$67,772
Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt,Program ServicesEquipment00$50,389
Sub-saharan Africa - Angola, Benin, Botswana, Burkina Faso,Program ServicesStudent Recruiting, Faculty Travel and Research00$32,925
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Program ServicesFaculty Travel and Research00$31,659
South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal,Program ServicesFaculty Travel and Research00$18,559
South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador,Program ServicesFaculty Travel and Research00-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$92,331
Fundraising Direct Expenses$61,991
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Blue & Gold Golf Outing$61,696$48,991$2,452$46,539
Celebrate Canisius$50,220$43,340-$43,340
Total Events$111,916$92,331$61,991$30,340
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Asset Retirement Obligation$5,566,978
Operating Right-of-use Liability$782,591
Government Grants Refundable$364,400
Deposits Held in Custody$165,250

Bond Issues

BondIssuerIssuedIssue PricePurpose
BBuffalo and Erie County Industrial Land Development Corporation2015-10-30$46,955,000Refunds bonds issued 3/4/2004, 4/26/2005 and 12/29/2010
ADormitory Authority of the State of New York2012-11-09$15,162,925Refund bonds issued 12/28/2000

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$46,955,000$46,118,255-$420,142
A$15,162,925$14,783,341-$303,258

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the vice president for business and finance and his staff. The form is provided to the full board, including the audit committee and the president of the university, in advance of the form being filed with the irs, allowing time for review and comment by the full board.

Form 990, Part VI, Section B, Line 12C

Employees must submit a written form annually that is reviewed by the secretary of the board of trustees and any conflicts of interest are discussed with employees.

Form 990, Part VI, Section B, Line 15

In determining compensation of the organization's top management official, the process includes hiring an independent consulting firm, who provides market surveys and benchmarking to help assist in the decision making process. The executive committee of the board of trustees reviews and approves the final compensation amounts. In determining compensation levels of other key employees, the university looks at market surveys and benchmarks from other ajcu schools. The president determines an appropriate compensation level and reviews it with the board.

Form 990, Part VI, Section C, Line 18

The university's form 990 is available on guidestar.org and upon request.

Form 990, Part VI, Section C, Line 19

The governing documents, financial information and other documents open for public disclosure are available upon request.

Filing and Contact Details

Filer

Filer Name
Canisius University
EIN
16-0743942
Phone
7168882483
Address
2001 MAIN STREET, BUFFALO, NY 14208

Signing Officer

Name
Timothy Balkin
Title
VP of Finance
Phone
7168837000
Signed
2023-12-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Balkin
Formed
1870
Legal Domicile
Ny
Voting Board Members
32
Independent Board Members
32
Employees
1,402
Volunteers
38

Preparer

Firm
Bonadio & Co Llp
Address
100 CORPORATE PARKWAY SUITE 200, AMHERST, NY 14226
Preparer
Joseph Peplin
Phone
7162506600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Gain on interest rate swap agreement 216,782.

FORM 990, PART XII, LINE 2C:

This process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The university is subject to the provisions of asc no. 740-10, income taxes, related to the accounting for uncertainty in income taxes. No liability for unrecognized tax expense was required at may 31, 2022.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising activity - $61,991 gain on interest rate swap agreement - $216,782

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Endowed scholarships - $6,555,743 institutional scholarships and student aid - $23,331,603

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising activity - $61,991

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Endowed scholarships - $6,555,743 institutional scholarships and student aid - $23,331,603

PART V, LINE 4:

The preeminent function of the canisius university endowment is to support the educational mission of the university by providing financial resources to help underwrite the educational needs of current and future generations of students and to enhance the financial well being of canisius university.

PART X, LINE 2:

The university is tax exempt on related income under section 501(c)(3) of the internal revenue code. It was determined by the internal revenue service in a ruling dated march 24, 1946, the organizations and affiliates of the roman catholic church, as listed in the official catholic directory, were entitled to exemption from federal income tax. The ruling is updated annually.

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IRS990/Form990PartVIISectionAGrp/PersonNm21MARGARET W PAROSKI
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IRS990/Form990PartVIISectionAGrp/PersonNm31CYNTHIA L SKRZYCKI
IRS990/Form990PartVIISectionAGrp/PersonNm32ANTHONY B SPADA JR
IRS990/Form990PartVIISectionAGrp/PersonNm33THOMAS G SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm34DAVID J NASCA
IRS990/Form990PartVIISectionAGrp/PersonNm35ROBERT H MALONEY
IRS990/Form990PartVIISectionAGrp/PersonNm36ANTHONY M MASIELLO
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IRS990/Form990PartVIISectionAGrp/PersonNm46DR IAN J REDPATH
IRS990/Form990PartVIISectionAGrp/PersonNm47DR JOSEPH O'DONNELL
IRS990/Form990PartVIISectionAGrp/PersonNm48DR JAMES GOLDSTEIN
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$284$57.7$227$111$110$0.78
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$279$62.1$217$104$111$7.16
2023Detailed filing. Detailed filing data is available for this year.$276$65.7$210$99.9$105$4.65
2022Detailed filing. Detailed filing data is available for this year.$289$70.0$220$104$109$4.48
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$306$80.7$225$97.8$102$4.30
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$271$79.1$192$105$109$4.71
2019Detailed filing. Detailed filing data is available for this year.$278$77.8$200$104$106$1.60
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$291$85.4$206$129$136$6.88
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$292$82.9$209$135$135$0.07
2016Detailed filing. Detailed filing data is available for this year.$285$87.8$197$145$140$4.40
2015Detailed filing. Detailed filing data is available for this year.$307$101$206$147$141$6.19
2014Detailed filing. Detailed filing data is available for this year.$302$101$201$157$144$13.0
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$291$103$188$150
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$278$99.4$179$150
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$270$88.3$181$141
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$254$90.3$164$138