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September 22, 2022

Executive Compensation at Boston University

by Anne Paddock

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.

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