Tuesday, September 29, 2009
Chronicle of Philanthropy Annual Salary Survey: Nearly 30% of Nonprofit Leaders Took a Pay Cut This Year
The Chronicle of Philanthropy reported the results of its annual salary survey of large nonprofit organizations, finding that nearly 30 percent of CEOs at the 195 groups that responded to the relevant question saw pay cuts during the past year. This comes after a median salary increase of 7 percent in 2008 based on a Chronicle study of compensation at 325 large nonprofit organizations. Among the most highly compensated executives, those taking cuts included the director of the Museum of Modern Art in New York who made over $2 million in 2008 (including nearly $1 million in deferred compensation and bonuses earned in prior years) and the general manager of the Metropolitan Opera Association, also in New York, who made over $1 million in 2008.