Non-Profit Leaders Raking In Millions

Glenn D. Lowry

You’d be surprised how much some in the non-profit world make.

Working in education or the arts won’t typically compete with lucrative career tracks in business or law.  But there are a small number of non-profit leaders making millions of dollars each year.

For example, Glenn Lowry, Director of the Museum of Modern Art in New York, made $2.7 million, according to a new survey by The Chronicle of Philanthropy. 

See who else made millions here>

Besides big bucks, the Chronicle’s research also notes the impact of the economic downturn. A steady, decade-long rise in non-profit CEO pay may have hit a plateau in 2008; as the recession hit, nearly three in 10 chief executives of the nation’s biggest charities and foundations took a pay cut.

Other highlights include:

  • The median change in nonprofit CEO pay from 2007 to 2008:  7% increase
  • The median CEO pay at these big organisations in 2008: about $360,000
  • Nonprofit hospitals have the highest median CEO pay: more than $830,000
  • Social service charities have the lowest median CEO pay: about $220,000
  • At 57 of the organisations surveyed, someone other than the CEO was the highest-paid employee – e.g., investment managers, doctors, and major college athletics coaches

“What’s striking about our findings is that three in 10 nonprofit leaders are taking a pay cut (or freezing their pay or declining a bonus) this year in response to the recession,” Stacy Palmer, Editor of the Chronicle tells us. “That comes after a  year when their pay was rising fast, by a seven median increase that was far bigger than the increase in business pay. While many people praise those who took cuts, other observers are wondering why more charities didn’t take cuts — especially at organisations where lower-level workers face layoffs and salary reductions.”

See which non-profit leaders made the most money in 2008 >>
Notes: The survey covered 325 of the U.S. organisations that raise the most money in private donations. There may be some government-funded nonprofits or smaller charities that pay their executives more, but are not included here. Overall pay package figures may include base salary, bonus, incentive pay earned over several years, retirement, health insurance, housing, or other payments. More on methodology here.

[slideshow]
[slide
permalink=”steven-sample-1″
title=”Steven Sample”
content=”President, University of Southern California (Los Angeles)

Total 2008 pay package: $1.2 million
image=”http://static.businessinsider.com/image/4ac0ee1a0a9a5c7f2dc8f07d/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”william-brody-2″
title=”William Brody”
content=”President, The Johns Hopkins University (Baltimore)

Total 2008 pay package: $1.2 million
image=”http://static.businessinsider.com/image/4ac0eecff431457921c5c4b7/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”richard-levin-3″
title=”Richard Levin”
content=”

President, Yale University (New Haven, Conn.)

Total 2008 pay package: $1.2 million
image=”http://static.businessinsider.com/image/4ac0ef6dde454a2f70740789/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”amy-gutmann-4″
title=”Amy Gutmann”
content=”President, University of Pennsylvania (Philadelphia)

Total 2008 pay package: $1.3 million
image=”http://static.businessinsider.com/image/4ac0efc588429405791619bb/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”lee-bollinger-5″
title=”Lee Bollinger”
content=”President, Columbia University (NYC)

Total 2008 pay package: $1.4 million
image=”http://static.businessinsider.com/image/4ac0f008ad92600c3c98c4e0/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”john-e-sexton-6″
title=”John E. Sexton”
content=”

President, New York University

Total 2008 pay package: $1.4 million
image=”http://static.businessinsider.com/image/4ac0f0cbf58934761e7e3d94/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”peter-gelb-7″
title=”Peter Gelb”
content=”General Manager, Metropolitan Opera Association (NYC)

Total 2008 pay package: $1.5 million
image=”http://static.businessinsider.com/image/4ac0ed0980a71b3c32e682d6/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”andrew-golden-8″
title=”Andrew Golden”
content=”President, Princeton University Investment Company (N.J.)

Total 2008 pay package: $2.1 million

Includes a $1,290,626 bonus and $67,200 for retirement.
image=”http://static.businessinsider.com/image/4ac0f22978591c14791a3cce/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”steven-m-altschuler-9″
title=”Steven M. Altschuler”
content=”CEO, Children’s Hospital of Philadelphia

Total 2008 pay package: $2.4 million
image=”http://static.businessinsider.com/image/4ac0f7d9482919654fca6207/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”john-powers-10″
title=”John Powers”
content=”President, Stanford Management Company, Stanford University (Calif.)

Total 2008 pay package: $2.4 million
image=”http://static.businessinsider.com/image/4ac0f85abec0047406c2689c/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”ralph-w-muller-11″
title=”Ralph W. Muller”
content=”Chief Executive Officer, University of Pennsylvania Health System

Total 2008 pay package: $2.5 million
image=”http://static.businessinsider.com/image/4ac0f8cf1b41fe6f7e6ff9cd/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”glenn-d-lowry-12″
title=”Glenn D. Lowry”
content=”Director, Museum of Modern Art (NYC)

Total 2008 pay package: $2.7 million
image=”http://static.businessinsider.com/image/4ac0f9474d5b666f2a6eaa68/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”james-madara-13″
title=”James Madara”
content=”Vice President for Medical Affairs, University of Chicago

Total 2008 pay package: $2.9 million

Includes $1,064,833 in deferred compensation.
image=”http://static.businessinsider.com/image/4ac0fa2fb98aef621596acb0/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”james-grifo-14″
title=”James Grifo”
content=”Professor, Obstetrics and Gynecology, New York University

Total 2008 pay package: $2.9 million
image=”http://static.businessinsider.com/image/4ac0fac722900d6c53fe3815/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”zev-rosenwaks-15″
title=”Zev Rosenwaks”
content=”Professor of Obstetrics and Gynecology, Cornell University (Ithaca, N.Y.)

Total 2008 pay package: $3.4 million
image=”http://static.businessinsider.com/image/4ac0fba3b9aa876055f65a1b/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”james-j-mongan-16″
title=”James J. Mongan”
content=”CEO, Partners HealthCare System (Boston)

Total 2008 pay package: $3.4 million
image=”http://static.businessinsider.com/image/4ac0eba17b0d467b41f0bf5c/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”mike-krzyzewski-17″
title=”Mike Krzyzewski”
content=”Head Coach, Men’s Basketball, Duke University (Durham, N.C.)

Total 2008 pay package: $3.7 million
image=”http://static.businessinsider.com/image/4ac0ea5b638826493caa7874/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”david-n-silvers-18″
title=”David N. Silvers”
content=”Clinical Professor of Dermatology, Columbia University (New York)

Total 2008 pay package: $3.7 million
image=”http://static.businessinsider.com/image/4ac0e9a83c61800549c31171/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”pete-carroll-19″
title=”Pete Carroll”
content=”Head Coach, Football, University of Southern California (Los Angeles)

Total 2008 pay package: $4.4 million

Includes $327,300 in deferred compensation
image=”http://static.businessinsider.com/image/4ac0e930b442fc7304b9dab7/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”david-swensen-20″
title=”David Swensen”
content=”Chief Investment Officer, Yale University

Total 2008 pay package: $4.4 million
image=”http://static.businessinsider.com/image/4ac0fc2d194a3f664cca5596/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”see-also-21″
title=”See Also”
content=”Think this group makes too much? Wait until you see our list of the top paid oil and coal CEOs.”
image=”http://static.businessinsider.com/image/4ab90668ff9b460756566732/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”rock-star-tech-executives-22″
title=”Rock Star Tech Executives”
content=”Now see the 10 awesome tech executives you’ve never heard of >>
image=”http://static.businessinsider.com/image/2e37544b1a0b314a1c610c00/image.jpg”
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]
[/slideshow]

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