Civic Intelligence

Daemen University

990 • Fiscal year 2020 • EIN 16-0759798

Jun 01, 2019 to May 31, 2020 • Filed on Nov 11, 2020

4380 Main StreetAmherst, NY 14226-3592

(716) 839-8218

Siviq Scores

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

Liabilities / Assets

71st percentile

0.45x

Higher debt load relative to assets than 71% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

46th percentile

0.45x

Higher debt load relative to revenue than 46% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Net Margin

32nd percentile

-0.2%

Higher net margin than 32% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

79th percentile

$501,743

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Asset Growth

26th percentile

-1.5%

Faster asset growth than 26% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

61st percentile

4.1%

Faster revenue growth than 61% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Down

$77,974,744

Down $1,179,853 (-1.5%) from 2019

Net Assets

Down

$42,774,395

Down $474,205 (-1.1%) from 2019

Liabilities

Down

$35,200,349

Down $705,648 (-2.0%) from 2019

Revenue

Up

$77,822,887

Up $3,060,115 (+4.1%) from 2019

Expenses

Up

$77,999,943

Up $1,452,552 (+1.9%) from 2019

Net Income

Up

-$177,056

Up $1,607,563 (+90%) from 2019

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $81,474,315Liabilities 2011: $47,482,028Net Assets 2011: $33,992,2872011Assets 2012: $81,470,680Liabilities 2012: $50,100,737Net Assets 2012: $31,369,9432012Assets 2013: $83,195,227Liabilities 2013: $46,616,094Net Assets 2013: $36,579,1332013Assets 2014: $87,022,136Liabilities 2014: $45,586,559Net Assets 2014: $41,435,5772014Assets 2015: $89,541,423Liabilities 2015: $45,072,141Net Assets 2015: $44,469,2822015Assets 2016: $83,807,146Liabilities 2016: $40,679,464Net Assets 2016: $43,127,6822016Assets 2017: $83,317,467Liabilities 2017: $38,992,435Net Assets 2017: $44,325,0322017Assets 2018: $84,080,952Liabilities 2018: $36,383,785Net Assets 2018: $47,697,1672018Assets 2019: $79,154,597Liabilities 2019: $35,905,997Net Assets 2019: $43,248,6002019Assets 2020: $77,974,744Liabilities 2020: $35,200,349Net Assets 2020: $42,774,3952020Assets 2021: $82,117,002Liabilities 2021: $34,536,814Net Assets 2021: $47,580,1882021Assets 2022: $83,009,537Liabilities 2022: $34,520,817Net Assets 2022: $48,488,7202022Assets 2023: $81,683,749Liabilities 2023: $33,609,872Net Assets 2023: $48,073,8772023Assets 2025: $86,714,837Liabilities 2025: $36,449,442Net Assets 2025: $50,265,3952025

Highlighted filing

2020

Assets$77,974,744
Liabilities$35,200,349
Net Assets$42,774,395

Operations Trend

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

$100M$50M$0-$50MExpenses 2011: $55,272,1812011Expenses 2012: $63,917,4212012Expenses 2013: $64,319,1522013Revenue 2014: $71,104,111Expenses 2014: $67,888,153Net Income 2014: $3,215,9582014Revenue 2015: $74,661,376Expenses 2015: $71,360,458Net Income 2015: $3,300,9182015Revenue 2016: $74,285,791Expenses 2016: $73,907,622Net Income 2016: $378,1692016Revenue 2017: $74,524,954Expenses 2017: $76,376,148Net Income 2017: -$1,851,1942017Revenue 2018: $75,892,741Expenses 2018: $75,252,131Net Income 2018: $640,6102018Revenue 2019: $74,762,772Expenses 2019: $76,547,391Net Income 2019: -$1,784,6192019Revenue 2020: $77,822,887Expenses 2020: $77,999,943Net Income 2020: -$177,0562020Revenue 2021: $82,827,947Expenses 2021: $80,060,359Net Income 2021: $2,767,5882021Revenue 2022: $88,907,221Expenses 2022: $85,037,434Net Income 2022: $3,869,7872022Revenue 2023: $86,763,348Expenses 2023: $86,606,944Net Income 2023: $156,4042023Revenue 2025: $92,503,760Expenses 2025: $91,579,144Net Income 2025: $924,6162025

Highlighted filing

2020

Revenue$77,822,887
Expenses$77,999,943
Net Income-$177,056
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Nov 11, 2020
Return Version
2019v5.0
Gross Receipts
$77,872,366
Mission and Program 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.

Education - Private, Independent College

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$48,503,865$48,129,320▼ $374,545
Investments in Publicly Traded Securities$21,216,400$21,108,763▼ $107,637
Savings and Temporary Cash Investments$3,292,322$3,086,831▼ $205,491
Cash and Non-Interest-Bearing Accounts$1,101,630$1,679,185▲ $577,555
Pledges and Grants Receivable$881,044$1,263,726▲ $382,682
Other Notes and Loans Receivable, Net$1,647,717$1,190,592▼ $457,125
Accounts Receivable$706,888$875,653▲ $168,765
Investments Other Securities$1,473,311$469,148▼ $1,004,163
Prepaid Expenses and Deferred Charges$331,420$171,526▼ $159,894
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$79,154,597$77,974,744▼ $1,179,853
Other Assets Total$0$0→ $0
Liabilities
Tax Exempt Bond Liabilities$30,897,360$30,075,057▼ $822,303
Other Liabilities$3,019,647$3,090,849▲ $71,202
Deferred Revenue$1,012,811$1,158,212▲ $145,401
Accounts Payable and Accrued Expenses$976,179$876,231▼ $99,948
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$35,905,997$35,200,349▼ $705,648
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$33,843,836$32,431,193▼ $1,412,643
Net Assets With Donor Restrictions$9,404,764$10,343,202▲ $938,438
Total Net Assets Fund Balance$43,248,600$42,774,395▼ $474,205
Total Liabilities and Net Assets / Fund Balance$79,154,597$77,974,744▼ $1,179,853

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$41,308,043$27,937,516$69,245,559
Equipment$2,291,934$17,583,049$19,874,983
Other Land Buildings$3,200,325$13,274,070$16,474,395
Land$1,108,415-$1,108,415
Leasehold Improvements$220,603$132,362$352,965

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$15,755,128$192,275▲ $1,092,192$37,341$16,769,561
2018$16,119,512$224,129▲ $210,263$588,860$15,755,128
2017$14,433,550$498,023▲ $1,453,975$68,414$16,119,512
2016$12,479,822$394,682▲ $1,706,010$0$14,433,550
2015$12,300,284$869,308▼ $582,291$0$12,479,822
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Gary A OlsonPresidentFT$400,921$100,822$501,743
Dr Michael BroganVP of Academic AffairsFT$147,837$40,166$188,003
Dr Gregory J NayorVP of Student AffairsFT$132,840$39,859$172,699
Greg ShuttsProfessorFT$110,990$53,198$164,188
Joel PattersonProfessorFT$105,258$45,150$150,408
Diane BesselProfessorFT$130,046$15,889$145,935
Robert RoodVP of Business AffairsFT$109,132$36,220$145,352
Carl TerryberryProfessorFT$98,450$44,534$142,984
Cara InnusProfessorFT$106,168$21,947$128,115
Lisa A AridaAVP of Business Affairs & Cont.FT$68,750$40,977$109,727
Kelly DuranVP of Information TechnologyFT$82,246$24,097$106,343
Brenda YoungTrusteeFT$88,573$13,530$102,103
Mary GlennVP of Institutional AdvancementFT$55,220$11,353$66,573
Craig HarrisVP of Institutional AdvancementFT$47,157$9,648$56,805
Frank WilliamsVP of Enrollment ManagementFT$46,437$5,797$52,234
Melaine KenyonVP of Information TechnologyFT$1,327$5$1,332

Highest Paid Contractors

ContractorServicesLocationCompensation
Energymark LLCUtility Supplier6653 Main St, Williamsville, NY 14221$350,051
Ruffalo Noel Levitz LLCEnrollment Consult/Software1025 Kirkwood Prwy SW, Cedar Rapids, IA 52404$326,442
Dell Marketing LPComputersc/o Dell USA LP, Dallas, TX 75267$197,791
Plsiii LLCBus Shuttle6 Fountain Plaza, Buffalo, NY 14202$176,877
Ellucian Company LPTechnology/Software4375 Fair Lakes Court, Fairfax, VA 22033$169,520
Revenue and Support

Revenue Composition

Contributions and Grants
$4,748,316
Program Service Revenue
$70,082,132
Investment Income
$1,863,399
Other Revenue
$1,129,040
All Other Contributions
$1,547,151
Change in Net Assets
$-177,056

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table8$55,664Fair Market Value
Securities Publicly Traded1$15,217Fair Market Value
Drugs and Medical Supplies1$8,655Fair Market Value
Other Non Cash Contri Table1$2,000Fair Market Value
Books and Publications-$359Fair Market Value
Total Noncash Contributions11$81,895-

Audited Revenue Reconciliation

Revenue per Audited Statements
$77,872,366
Revenue Not Reported on Financial Statements
$-49,479
Revenue Not Reported on Form 990
$-297,149
Other Revenue Adjustments
$-49,479
Total Revenue per Audited Statements
$77,575,217
Total Revenue per Form 990
$77,822,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,045,469
Grants and Similar Amounts Paid$26,856,522
Other Expenses$16,097,952
Total Fundraising Expense$615,093
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$26,856,522--$26,856,522
Comp Disqual Persons$22,591,280$2,213,073$278,475$25,082,828
Other Employee Benefits$4,754,504$442,408$80,392$5,277,304
Depreciation Depletion$2,975,767$0$0$2,975,767
Occupancy$2,409,765$80,151$0$2,489,916
Interest$2,059,194$0$0$2,059,194
Payroll Taxes$1,691,896$247,596$21,641$1,961,133
Office Expenses$1,006,416$340,734$34,064$1,381,214
Pension Plan Contributions$1,194,363$162,440$22,150$1,378,953
Current Officers, Directors, Trustees, and Key Employees$108,521$1,146,537$90,193$1,345,251
All Other Expenses$721,979$288,075$18,217$1,028,271
Fees for Services Other$884,841$71,731$3,396$959,968
Travel$788,564$100,700$16,836$906,100
Information Technology$504,315$239,094$49,729$793,138
Advertising$335,503$0$0$335,503
Insurance$63,833$89,452$0$153,285
Fees for Service Investment Mgmnt Fees$0$152,677$0$152,677
Other Expenses$151,567$0$0$151,567
Fees for Services Legal$0$62,469$0$62,469
Fees for Services Accounting$0$27,950$0$27,950
Royalties$1,913$0$0$1,913
Total Functional Expenses$71,719,763$5,665,087$615,093$77,999,943

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$78,049,422
Expenses per Audited Statements$77,999,943
Total Expenses per Form 990$77,999,943
Expenses Not Reported on Form 990$49,479
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$15,908

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Middle East and North AfricaProgram ServicesSeminary Review00$15,908
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$106,660
Fundraising Direct Expenses$49,479
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fund$65,197$0$0$0
Golf Outing$57,810$57,810$5,017$52,793
Total Events$171,857$106,660$49,479$57,181
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mark ChasonTrusteeStudent HousingNo$414,985
Terrance GilbrideTrusteeLegal CounselNo$79,946
Kathy Lawley-BestTrusteeInsuranceNo$34,060

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Salaries, Wages and Pension$2,228,820
US Government Advances$637,562
Accrued Interest$224,467

Bond Issues

BondIssuerIssuedIssue PricePurpose
ATown of Amherst Development Corporation2018-06-14$30,445,732See part VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,445,732$0$0$590,057

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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
Yes
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
No
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 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 policy 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 and documented in the minutes.

Form 990, Part VI, Section C, Line 19

Copies of the Governing Documents, the Conflict of Interest Policy, and the Financial Statements are made available upon request.

Form 990, Part VIII, Line 1A

Government grants: includes $1,872,946 in HEERF funding from the federal government due to the COVID-19 pandemic. $742k of these funds were used to offset lost revenue on line 2b. The balance of these funds were used to offset other pandemic related expenditures.

Filing and Contact Details

Filer

Filer Name
Daemen College
EIN
16-0759798
Phone
7168398218
Address
4380 Main Street, Amherst, NY 14226-3592

Signing Officer

Name
Robert E Rood
Title
VP for Business Affairs
Phone
7168398505
Signed
2020-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Gary A Olson
Formed
1947
Legal Domicile
Ny
Voting Board Members
26
Independent Board Members
22
Employees
1,556
Volunteers
40

Preparer

Firm
Drescher &Malecki LLP
Address
3083 William Street, Cheektowaga, NY 14227
Preparer
Matthew Montalbo
Phone
7165652299
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 2

Grants and other assistance: included $936,473 of aid given to students with HEERF funds under the CARES act.

Financial Statement Notes

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 4B

$49,479 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.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt400
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt410
IRS990/Form990PartVIISectionAGrp/PersonNm0Dr Gary A Olson
IRS990/Form990PartVIISectionAGrp/PersonNm1Dr Michael Brogan
IRS990/Form990PartVIISectionAGrp/PersonNm2Dr Gregory J Nayor
IRS990/Form990PartVIISectionAGrp/PersonNm3Greg Shutts
IRS990/Form990PartVIISectionAGrp/PersonNm4Joel Patterson
IRS990/Form990PartVIISectionAGrp/PersonNm5Diane Bessel
IRS990/Form990PartVIISectionAGrp/PersonNm6Robert Rood
IRS990/Form990PartVIISectionAGrp/PersonNm7Carl Terryberry
IRS990/Form990PartVIISectionAGrp/PersonNm8Cara Innus
IRS990/Form990PartVIISectionAGrp/PersonNm9Lisa A Arida
IRS990/Form990PartVIISectionAGrp/PersonNm10Kelly Duran
IRS990/Form990PartVIISectionAGrp/PersonNm11Brenda Young
IRS990/Form990PartVIISectionAGrp/PersonNm12Mary Glenn
IRS990/Form990PartVIISectionAGrp/PersonNm13Craig Harris
IRS990/Form990PartVIISectionAGrp/PersonNm14Frank Williams
IRS990/Form990PartVIISectionAGrp/PersonNm15Melaine Kenyon
IRS990/Form990PartVIISectionAGrp/PersonNm16John Yurtchuk
IRS990/Form990PartVIISectionAGrp/PersonNm17Paul Saffrin
IRS990/Form990PartVIISectionAGrp/PersonNm18JoEtte Zaccagnino
IRS990/Form990PartVIISectionAGrp/PersonNm19Alan Gracie
IRS990/Form990PartVIISectionAGrp/PersonNm20Jo-Ann Grabowski
IRS990/Form990PartVIISectionAGrp/PersonNm21Catherine LePage-Campbell
IRS990/Form990PartVIISectionAGrp/PersonNm22Robert Chur
IRS990/Form990PartVIISectionAGrp/PersonNm23Richard Day
IRS990/Form990PartVIISectionAGrp/PersonNm24Dale Demyanick
IRS990/Form990PartVIISectionAGrp/PersonNm25Dorothy Ferguson
IRS990/Form990PartVIISectionAGrp/PersonNm26Gary M Bichler
IRS990/Form990PartVIISectionAGrp/PersonNm27Jennifer Gurske-Deperio
IRS990/Form990PartVIISectionAGrp/PersonNm28Donald Hutton
IRS990/Form990PartVIISectionAGrp/PersonNm29Kathy Lawley-Best
IRS990/Form990PartVIISectionAGrp/PersonNm30Gail Mitchell
IRS990/Form990PartVIISectionAGrp/PersonNm31Scott Friedman
IRS990/Form990PartVIISectionAGrp/PersonNm32Thomas Reynolds
IRS990/Form990PartVIISectionAGrp/PersonNm33Shandra Spicer
IRS990/Form990PartVIISectionAGrp/PersonNm34Thomas Stewart
IRS990/Form990PartVIISectionAGrp/PersonNm35Mark Chason
IRS990/Form990PartVIISectionAGrp/PersonNm36Jeffrey Wellington
IRS990/Form990PartVIISectionAGrp/PersonNm37Arthur Wingerter
IRS990/Form990PartVIISectionAGrp/PersonNm38Terrence Gilbride
IRS990/Form990PartVIISectionAGrp/PersonNm39Edith Wyss OSF
IRS990/Form990PartVIISectionAGrp/PersonNm40Candace Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm41Steven Zenger
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.7$36.4$50.3$92.5$91.6$0.92
2023Summary only. Only limited summary data is available for this year.$81.7$33.6$48.1$86.8$86.6$0.16
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.0$34.5$48.5$88.9$85.0$3.87
2021Summary only. Only limited summary data is available for this year.$82.1$34.5$47.6$82.8$80.1$2.77
2020Detailed filing. Detailed filing data is available for this year.$78.0$35.2$42.8$77.8$78.0$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$79.2$35.9$43.2$74.8$76.5$1.78
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$84.1$36.4$47.7$75.9$75.3$0.64
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$83.3$39.0$44.3$74.5$76.4$1.85
2016Detailed filing. Detailed filing data is available for this year.$83.8$40.7$43.1$74.3$73.9$0.38
2015Detailed filing. Detailed filing data is available for this year.$89.5$45.1$44.5$74.7$71.4$3.30
2014Detailed filing. Detailed filing data is available for this year.$87.0$45.6$41.4$71.1$67.9$3.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.2$46.6$36.6$64.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.5$50.1$31.4$63.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.5$47.5$34.0$55.3
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $50M-$100M nonprofits