Executive Compensation at Boston University
Boston University (BU) is a private research university with an acceptance rate at about 20% of applicants. Located in Boston, Massachusetts, BU has about 35,000 students, of which 17,500 are undergraduates. The annual tuition, room, board, and fees is about $80,000.
In 2020, BU’s total revenue was $2.6 billion (compared to $2.7 billion in 2019) with most of the income coming from 2 sources: contributions, gifts, and grants ($572 million) and tuition, fees, and services ($1.9 biillion). Expenses were $2.4 billion (not including $133 million in depreciation). At year-end, BU had $4.2 billion in net fund assets.
On the IRS Form 990 (2019 for the year beginning July 1, 2019 and ending June 30, 2020), BU reports $640 million in grants, of which $520 million was awarded to domestic individuals, $91 million to domestic organizations, and $29 million to foreign organizations, governments, and individuals. Most of the grants awarded to individuals were non-cash grants ($473 million). 18,941 individuals received $473 million in non-cash grants, or an average of $25,000, which means those paying full tuition supplemented other student’s tuition.
BU reported having 27,760 employees in 2020 who received total compensation of $1.2 billion which equates to an average compensation of $44,600 (compared to $45,000 at Boston College; $57,000 at Duke and $68,000 at Harvard). 3,419 employees received more than $100,000 in compensation with the 13 most highly compensated individuals listed below:
- $2,106,761: Robert A Brown, President
- $1,860,627: Tony Tannoury, Professor and Physician*
- $1,536,703: Pushkar Mehra, Professor and Oral Surgeon
- $1,219,565: Clarissa Hunnewell, Chief Investment Officer
- $1,127,576: Jean Morrison, University Provost
- $1,121,117: William Creevy, Professor and Physician*
- $1,107,137: Andrew Stein, Professor and Physician*
- $ 970,488: Karen H Antman, Medical Campus Provost
- $ 779,908: Todd L C Klipp, Former SVP, Senior Counsel, Secretary
- $ 649,375: Gary W Nicksa, SVP, Operations
- $ 648,025: Erika Geetter, SVP, General Counsel and Secretary
- $ 617,371: Martin J Howard, SVP, CFO, and Treasurer
- $ 351,357: Cataldo W Leone, Trustee and Professor (until 5/20)
A “*” indicates compensation was paid by a related/affiliated organization.
The 13 most highly compensated employees received $14 million. 9 of the 13 (69%) most highly compensated employees are male while 4 of the 13 (31%) are female.
BU paid for first class or charter travel and provided a housing allowance or a residence for personal use. To read more about these expenses and contributions to a non-qualified supplemental retirement plan for top executives, see the Form 990, Schedule J, Part III, Supplemental Information.