The college was founded by Utica, New York, financier Nicholas Devereux,[3] one of the first to gain land grants in newly surveyed Cattaraugus County from the Holland Land Company.[4] Devereux founded the town of Allegany on the grant, hoping to build a new city. Devereux approached John Timon,[5] the bishop of Buffalo,[6] for assistance. The two invited the Franciscan order to Western New York,[3] and a small group under Pamfilo da Magliano arrived in 1855.[5] The school graduated its first class in 1858.