Executive Compensation at the American Federation of Teachers (AFT)
The American Federation of Teachers (AFT) is the second largest teacher’s union (although membership is not limited to teachers) with 1.7 million members (after the National Education Association) in 3,000 local affiliates in the USA. A non-profit, tax-exempt 501 (c) (5), the AFT is based in Washington, DC and is an affiliate of the AFL-CIO.
For the year ending June 30, 2018, AFT reported total revenue of $229 million (mostly from membership dues) and expenses of $190 million (with the unspent funds added to the general fund). The largest expense for the organization was compensation for the 398 employees who received $61 million, which equates to an average compensation of $153,300. However, only 178 employees (45%) received more than $100,000 in compensation. The eight most highly compensated employees were reported to be: Read more
Executive Compensation at the United Negro College Fund (UNCF)
The United Negro College Fund (UNCF) is a non-profit, tax-exempt 501 (c) (3) based in Washington, DC. Established in 1944, UNCF funds scholarships for students and also scholarship funds at 37 private historically black colleges and universities (member institutions).
In 2018-2019 UNCF reported having 255 employees who received $21 million in compensation, which equates to an average compensation of $79,000. 48 employees received more than $100,000 in compensation with the most highly compensated employee being the President and CEO, Michael L Lomax who received $838,291 in compensation. Read more
Executive Compensation at Oberlin
Oberlin College (Oberlin) is a liberal arts college (College of Arts and Sciences) and music conservatory (Conservatory of Music) with approximately 3,000 students in Oberlin, Ohio (about 40 miles southwest of Cleveland). Established in 1833, Oberlin has graduated Rhodes Scholars (16), Pulitzer Prize Winners (7), MacArthur Fellows (12), Truman Scholars (20), and Nobel Laureates (3).
Tuition, room, and board is nearly $80,000 (with health insurance) annually making a 4-year degree a total cost of $320,000. Oberlin awards about $60 million annually in the form of financial aid. According to the most recent available Form 990 (2016 for the year ending June 30, 2017), 2,710 students received $62 million, which equates to an average financial aid of $23,000. Read more
Why Educators For Justice Need to Rethink Their Argument
Recently, a group called “Educators for Justice” (@educatorsforjustice) posted a chart (shown below) entitled “NYPD VS DEPARTMENT OF EDUCATION” on Instagram that calls for supporters to defund the NYPD. Whether or not the public believes it is in the best interest of New York to defund the NYPD, it is in the best interest of the public to know the facts and understand that the message below does not support their argument: Read more
Executive Compensation and Perks at Liberty University
Liberty University was originally established as Lynchburg Baptist College in 1971 but changed its name to Liberty University (Liberty) in 1985, the same year the school was accredited. Described as an evangelical institution of higher education, Liberty has about 15,000 students on campus but more than 90,000 enrolled in on-line classes, making the school one of the largest Christian universities in the country.
Liberty has 17 colleges including a school of medicine (osteopath) and law, along with 20 Division 1 sports. The annual cost of tuition, room, and board for undergraduates is about $35,000, or about $140,000 for a 4-year degree – a relative bargain compared to many private universities whose cost is often $75,000 annually or $300,000 for a 4-year degree. Read more
It’s been said that we don’t change when we see the light, but when we feel the heat.
Those are the words of Dr. Garth Davis, MD – a board-certified surgeon – who specializes in bariatric surgery in Asheville, NC. Prior to moving to Asheville in 2018, Dr. Davis was the medical director of the Davis Clinic at the Methodist Hospital in Houston, Texas. A graduate of University of Texas in Austin, and the Baylor School of Medicine, Dr. Davis completed his surgical residency at the University of Michigan. Read more
Executive Compensation at Stanford
Most people probably don’t know that Stanford’s legal name is “The Board of Trustees of the Leland Stanford Junior University” doing business as Stanford University. And most people probably don’t realize that Stanford’s revenue exceeds expenses by more than a billion dollars a year (for the last several years) which has allowed the university to grow their endowment. With $31.7 billion in net fund assets, Stanford is one of the wealthiest universities in the US along with being what some would refer to as a money-making machine. Read more
Executive Compensation at Columbia (2017)
2017 was a great year for Columbia University (Columbia) and many of its employees. Total revenue reached $5.7 billion while expenses totaled $4.5 billion (not including depreciation) which contributed to the endowment increasing from $13.2 billion to $14.7 billion at year-end, of which only $3.4 billion is permanently restricted.
In terms of compensation, 34,811 employees were compensated $2.8 billion, which equates to an average compensation of $81,000. The 17 most highly compensated individuals (listed below) received $40 million which equates to an average compensation package of $2.4 million each: Read more
Executive Compensation at Columbia (2016)
People often joke about the low compensation in academia but many individuals working for non-profit educational institutions (i.e. colleges and universities) receive very high compensation packages. Although the most highly compensated tend to be investment managers for the endowment, presidents, provosts, department chairs, professors, and fundraisers, the overall average compensation package is often nothing to make light of.
At Columbia University (Columbia) – a private, Ivy-League educational and research university on the Upper West Side in New York City (although there are six campuses, five in New York and one in Paris), 34,437 employees were compensated $2.6 billion (or an average of $76,000 each) in the school year beginning July 1, 2015 and ending June 30, 2016. 4,928 individuals received more than $100,000 in total compensation. Read more
Executive Compensation at University of Pennsylvania
The University of Pennsylvania (Penn) is a private research university in Philadelphia that is also a member of the Ivy League. With more than $12 billion in the school’s endowment, Penn also includes a hospital, five outpatient facilities, an in-patient rehabilitation center, and 10 research facilities.
The IRS Form 990 (2015) covering the year beginning July 1, 2015 and ending June 30, 2016 reports the following key information about Penn: Read more