Big Bucks for Non-Profit Execs
September 21, 1998
Non-profit organizations aren't stinting on executive pay, according to the latest report of the Chronicle of Philanthropy.
The weekly newspaper came to the following conclusions after studying the compensation of 230 leaders of hospitals, universities, big charities and foundations:
- At the midrange, these executives were paid $209,914 last year.
- Some 137 executives whose income was reported for both 1996 and 1997 received an average increase in 1997 of 2.9 percent -- slightly higher than inflation's 2.3 percent climb.
- The highest single earner on the list was the chairman of the department of cardiothoracic surgery at Cornell University, whose pay of $1,728,999 plus benefits of $45,431 topped the pay of the University's president.
The information was taken from reports that non-profit institutions are legally required to file.
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