Business Excellence Awards
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BOSTON – Pay for the chief executives of 25 of the largest Massachusetts nonprofits ranged from about $487,000 to approximately $8.8 million during the three-year period from 2009 to 2011, according to a report released last week by Attorney General Martha Coakley.
The “Massachusetts Public Charities CEO Compensation Review” examined executive pay at health plans, hospitals, universities and other organizations based in the state.
According to a statement from Coakley’s office, the report finds that CEO compensation is “complex and comprises a variety of components,” often including special retirement benefits in excess of those available to other segments of the workforce. It also finds that reported CEO compensation figures can vary greatly from year to year due to isolated payments or vesting events, making straightforward comparisons among different organizations and even different years at an organization difficult.
The statement said the report suggests that adding certain additional data points to the analysis of “reasonableness” might moderate increases in executive compensation, allowing more charitable dollars to directly support the organization’s mission.
The full report is available at www.mass.gov/ago/charitiesreports. •