Executive Compensation at the University of Miami
The University of Miami (UM) is a private research (primarily at the Miller School of Medicine) university with 11 schools and colleges serving more than 17,000 students in undergraduate and graduate studies in 180 majors. Tuition, room, and board cost about $75,000 annually or $300,000 for a 4-year degree.
For the year ending 5/31/2018, UM reported total revenue of $3.8 billion which came primarily from hospitals and clinics ($1.4 billion), tuition and fees ($774 million), medical professional practices ($468 million), government grants ($463 million), and contributions, gifts, and grants ($229 million).
Expenses totaled $3.5 billion (not including $153 million in depreciation) with the largest expense compensation ($1.9 billion) followed by grants – primarily to individuals for tuition – ($480 million), medical supplies ($404 million), office-related expenses ($306 million), and fees for services ($242 million).
50% of revenue was spent on compensation for the 25,772 employees, who received an average compensation of $74,000. 3,067 employees received more than $100,000 in compensation with the 17 most highly compensated employees reported to be:
- $4,039,868: Mark Richt, Head Coach, Football
- $3,573,267: Steven Altschuler, EVP and CEO of UHealth
- $2,167,688: James J Larranaga, Head Coach, Basketball
- $2,008,369: David Ertel, CFO, UHealth Systems
- $1,599,018: Julio Frenk, President
- $1,552,192: Nestor F De La Cruz-Munoz, Assoc Professor, Dept of Surgery
- $ 823,396: Steven F Falcone, Chief Executive/UHealth Clinic (former)
- $ 688,694: Aileen Ugalde, University Secretary (former)
- $ 673,343: Michael P Gittelman, CEO, ABLEH (former)
- $ 577,390: Thomas J LeBlanc, EVP and Provost
- $ 572,908: Jacqueline A Travisano, EVP and COO
- $ 542,132: Sory John Birdsall, Chief Executive UHealth Regional Alliance (former)
- $ 472,291: Jeffrey Duerk, EVP and Provost
- $ 461,080: Richard Russell Ballard, CEO, UMHC (former)
- $ 312,681: Donna E Shalala, President (former)
- $ 192,698: Mark Buoniconti, Trustee, Senior Director
- $ 166,974: Leslie Dellinger Aceituno, Secretary
13 of the 17 (76%) most highly compensated employees are male while 4 of the 17 (24%) are female.
There are 60 members of the governing party, 50 of whom are independent. The Form 990 lists 70 trustees/directors, which appears to be due to timing differences. 50 of the 70 (71%) are male while 20 of the 70 (29%) are female.
UM paid for first class travel. Specifically, first class travel was provided to Julio Frenk, Donna Shalala, and James Larranaga.
UM paid for a housing allowance or a residence for personal use, and for personal services. Specifically, Julio Frenk was provided a residence and household assistance.
UM paid for health or social club dues or initiation fees. Specifically, club dues were paid for Julio Frenk, Jeffrey Duerk, James Larranaga, Steven Altschuler, and Mark Richt. Social club dues were paid for Julio Frenk, Jacqueline Travisano, and Jeffrey Duerk.
Steven Altschuler received a severance payment of $1,128,446.
David Ertel received a severance payment of $749,102.
710 independent contractors received more than $100,000 in compensation. The five most highly compensated independent contractors were reported to be:
- $21 million: GCA Education Services, of Knoxville, TN for maintenance and repair services
- $17 million: Arellano Construction Co, of Miami, FL for construction services
- $ 9 million: Moss and Associates, of Miami, FL for construction services
- $ 7 million: Deloitte Consulting, of Miami, FL for IT services
- $ 6 million: Compass Group USA, of Coral Gables, FL for food service management
To read the IRS Form 990 (for the year ending May 31, 2018), click here.