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September 24, 2022

Executive Compensation at Boston College

by Anne Paddock

Boston College is a private Jesuit research university with an acceptance rate at about 19% of applicants.  Located in Chestnut Hill, Massachusetts, Boston College has about 15,000 students, of which 6,800 are undergraduates. The annual tuition, room, board, and fees is about $80,000.

In 2020, Boston College’s total revenue was $1.2 billion (compared to $1.2 billion in 2019) with most of the income coming from 2 sources: contributions, gifts, and grants ($225 million) and tuition, fees, and services  ($883 miillion).  Expenses were $1 billion (not including $90 million in depreciation).  At year-end, Boston College had $3.6 billion in net fund assets.

On the IRS Form 990 (2019 for the year beginning June 1, 2019 and ending May 31, 2020), Boston College reports $228 million  in grants were awarded with nearly all ($227 million) given to 8,705 individuals, which equates to an average of $26,000 each.

Boston College reported having 12,354 employees in 2020 who received total compensation of $557 million  which equates to an average compensation of $45,000 (compared to $57,000 at Duke and $68,000 at Harvard).  1,155 employees received more than $100,000 in compensation with the 16 most highly compensated individuals listed below (note:  the total compensation column on the Form 990, Schedule J, Part II, Column E is partially cut off so the compensation numbers are rounded to the nearest hundred dollars:

  • $2,709,100:  Stephen R Addazio, Football Coach (until 12/19)
  • $1,476,500:  James P Christian, Basketball Coach
  • $1,334,400:  John J Zona, Chief Investment Officer and Associate Treasurer
  • $  785,800:  James J Husson, SCP, University Advancement
  • $  775,300:  Andrew C Boynton, Dean CSOM
  • $  773,300:  Martin D Jarmond, Athletic Director
  • $  718,900:  David Quigley, Provost and Dean of Faculties
  • $  706,300:  Jeremiah York, Hockey Coach
  • $  670,700:  Michael J Lochhead, EVP
  • $  542,400:  John D Burke, Financial VP and Treasurer
  • $  488,700:  Michael Bourque, VP Information Technology
  • $  453,300:  David P Trainor, VP, Human Resources
  • $  375,100:  Thomas J Keady, VP Gov’t and Community Affairs
  • $  350,200:  Daniel Bourque, VP Facilities Management
  • $  342,600:  Joy H Moore, VP, Student Affairs (from 8/19)
  • $  322,800:  Kevin J Shea, VP and Executive Asst to President

The 16 most highly compensated employees received $13 million in compensation.  15 of the 16 most highly compensated employees are male while 1 of the 16 is female.

Suffolk Construction, owned by a unnamed trustee of Boston College, received nearly $35 million in fees for construction services.

Boston College paid for first class and charter travel, travel for companions, a residence for personal use or a housing allowance, health or social club dues or initiation fees, and provided tax indemnification or gross up payments.  For details on these expenses, see the Form 990, Schedule J, Part III, Supplemental Information.

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