$1 million charity CEO
Here’s some more fantastic public record reporting from Atlanta Unfiltered:
Dr. John Seffrin, CEO of the American Cancer Society since 1992, earned $1 million-plus last year thanks to a hefty deferred pay package, tax records show.
The Atlanta-based non-profit, which eliminated 140 positions this year, paid Seffrin a base salary of $685,884 for the year ending Aug. 31, 2008. It also kicked in about $360,000 more toward his benefits and deferred compensation.
A supplemental retirement plan sets aside deferred compensation, paid in addition to employees’ standard pension, for Seffrin and other Cancer Society executives. The non-profit reports that income each year to the IRS, even though the recipients won’t collect it until retirement. That amount includes employer contributions as well as growth in the retirement plan’s value.
Seffrin earned $947,687 in salary and benefits in fiscal year 2007 and $810,796 the year before, tax records show. His 2008 earnings reflected a 29 percent increase over 2006.
I know the arguments — these charities have got to pay heftily to compete with the private sector. But, you know, I just don’t think I could accept a million dollar per year salary at a charity for cancer research.
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