The Rock and Roll Hall of Fame just announced its 2013 inductees: Public Enemy, Donna Summer, Heart, Randy Newman, Rush and Albert King.
But the hall itself has not been without criticism, especially of its selection process.
Looking at the institution’s financial statements on Guidestar.org, another quirk emerges.
The Hall is a nonprofit institution, receiving most of its revenue from contributions.
In 2010, President and CEO Terry Stewart enjoyed total takehome of $476,504. The head of the Hall’s foundation — that’s right, they possess a nonprofit within a nonprofit — earned $409,737.
As you can see here, no one among the Hall’s named executives made less than $150,000.
In total, the Hall paid its executives a total of about $1,952,366 in 2010.
That’s 8 per cent of all revenues.
Is that reasonable?
Well, in 2010, the Smithsonian Institution, which boasts the largest revenue of any nonprofit museum in the country, had revenues of $1.2 billion.
Total salary? $8.6 million, or .7 per cent of its revenues (as in not even a whole percentage point).
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