It All Depends on Where You Get Your News

A smart person suggested I read several news sources each day. Preferably, this person said, the sources should come from different places on the spectrum of initial opinion. I think the below article is a case in point - especially when compared to the article from my last post. "It all depends on where you stand." And there are lots of places to start standing from. - M

8) Nearly 30 Percent of Nonprofit Leaders Took Pay Cut in Past
Year (9/29/09) - Philanthropy News Digest (PND)

Nearly three in ten of the leaders of the nation's biggest chari-
ties and foundations have taken pay cuts in the past year, the
Chronicle of Philanthropy reports.

Based on the Chronicle's annual survey of compensation at 325
large nonprofit organizations, fifty-seven charities and foun-
dations -- 29 percent of the 195 groups that responded to the
question -- said their top executive took a pay cut, declined
a raise or bonus, or had his or her pay frozen in the past year.
The median pay cut among those executives was 10 percent. At the
same time, the overall median salary for nonprofit leaders rose
7 percent, almost double the rate of inflation. In contrast, total
compensation for executives at the 200 largest for-profit compan-
ies dropped by 9 percent in 2008, according to a survey conducted
for the New York Times.

Most of the increases that showed up in the Chronicle's survey
were approved in 2007, when the economy was stronger and the
stock market was near its peak. And one of the factors responsi-
ble for the long-term climb in nonprofit executive compensation
-- the increasing reliance by boards on salary surveys produced
by compensation experts -- may serve to curb raises in 2009 and
beyond.

Ken Berger, president of New Jersey-based Charity Navigator, said
there are several possible explanations for the relative paucity
of pay cuts in nonprofit executive suites, including fear on the
part of boards that a cut in pay will cause an executive to leave
for a better-paying job. Charities may also be slow in coming to
grips with changed economic circumstances. "A lot of people still
haven't faced the fact that we're going over a cliff," said
Berger. "This economic situation we're in is not over yet. People
are hoping that things are going to turn around, and it won't be
necessary to be draconian in that way."

"Nearly 30% of Nonprofit Leaders Took a Pay Cut This Year; Pay
in 2008 Grew Quickly." Chronicle of Philanthropy 9/28/09.
http://philanthropy.com/free/articles/v21/i22/22000107.htm

http://pndapps.fdncenter.org/link/20012976/story