Hundreds of employees at nonprofits make six-figure salaries
Source:
The Palm Beach Post
Date:
Saturday, December 31, 2011 Nonprofits aren't known for minting millionaires, but a few nonprofit executives have pulled down seven-figure pay packages at least once in the past few years, an analysis has found.
While seven-figure pay packages are rare, hundreds of employees of nonprofits in the region make six-figure salaries, according to tax returns examined . The Post looked at hundreds of tax returns filed by dozens of organizations and focused on the 55 nonprofits with more than $9 million a year in revenue.
Nonprofits' economic clout is reflected in hefty paychecks for top executives, said James Abruzzo, a compensation expert at executive search firm DHR International in Newark, N.J. Skilled executives are in short supply, he said. And because nonprofits make their tax returns public, CEOs know how much their peers make, and that has helped to push up pay.
"The trend is that compensation has been rising very quickly," Abruzzo said. "Combine scarcity with transparency, and maybe a little greed - maybe - and that's what you end up with."
