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Rhode Island’s Highest Paid College Presidents

Thursday, December 13, 2012

 

How much do Rhode Island's private college presidents make? You might be surprised to learn. The Chronicle of Higher Education has released a far-reaching analysis of the total compensation for college leaders nationwide, combining base pay, bonus pay, deferred compensation, nontaxable benefits and other pay. Note: CHE uses data from 2010, so the list includes 2 presidents--Roy Nirschel from Roger Williams and Ruth Simmons from Brown--who are no longer at these schools but nonetheless provide an interesting vista into compensation packages at their respective universities.

Who tops the list nationally? Former US Senator Bob Kerrey, The New School's president through 2010 (the year for which the rankings are generated), is ranked #1 with a total compensation package worth $3,047,703. See below for how Rhode Island's educational elite stack up.

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#6: Sister Jane Gerety

Salve Regina University, Newport

$59,606*

Base Pay: $0

Bonus Pay: $0

Defered compensation: $0

Nontaxable benefits: $0

Other pay: $59,606

*CHE notes that "some religious-affiliated colleges offer little or no compensation to their executives as reported on their 990 forms," which are the basis for much of the data collection.

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#5 Rev. Brian J. Shanley

Providence College, Providence

$69,689*

Base Pay: $0

Bonus Pay: $0

Defered compensation: $0

Nontaxable benefits: $0

Other pay: $69,689

*CHE notes that "some religious-affiliated colleges offer little or no compensation to their executives as reported on their 990 forms," which are the basis for much of the data collection.

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#4 Roy J. Nirschel

Roger Williams University, Bristol

$304,456*

Base Pay: $243,470

Bonus Pay: $0

Defered compensation: $19,542

Nontaxable benefits: $41,444

Other pay: $0

*reflects partial year compensation. Nirschel left RWU in July of 2010. In 2009, he earned $519,812.

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#3 Ronald K. Machtley

Bryant University, Smithfield

$549,587

Base Pay: $399,897

Bonus Pay: $0

Defered compensation: $27,840

Nontaxable benefits: $82,483

Other pay: $39,367

Note: Machtley's overall compensation in 2010 actually decreased from his 2009 package of $570,118 total.

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#2 Ruth J. Simmons

Brown University, Providence

$863,684*

Base Pay: $606,306

Bonus Pay: $0

Defered compensation: $204,402

Nontaxable benefits: $48,045

Other pay: $4,931

*Simmons left her post at Brown in June, 2012. As of 2010, her salary was the 49th highest in CHE's list of 493 college presidents.

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#1 John J. Bowen

Johnson & Wales University, Providence

$914,857

Base Pay: $572,630

Bonus Pay: $10,000

Defered compensation: $251,862

Nontaxable benefits: $46,500

Other pay: $33,865

Bowen's salary is the 44th highest in CHE's list of 493 college presidents.

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How it adds up

CHE's data show the compensation received in 2010 by 493 chief executives at 480 private, nonprofit colleges in the United States. Data for 2009 reflect 519 chief executives at 482 colleges.

The Chronicle compiled compensation data from the Internal Revenue Service’s Form 990, which is filed by most major nonprofit entities. CHE obtained each institution’s form from the college or from GuideStar, an organization that posts the documents online.

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Elements of compensation

The following four elements, plus "other pay" (see next slide) combine to form the total compensation in CHE's analysis:

Base Pay: Base salary, plus sick pay paid by the employer and employee contributions to a 401(k) or 403(b) plan.
Bonus pay: Incentive pay and signing bonuses.
Deferred compensation: Deferred compensation or retirement allocated by the employer to be paid in later years.
Nontaxable benefits: Miscellaneous benefits including health and medical benefits, life insurance, housing provided by the employer, personal legal and financial services, dependent care, adoption assistance, tuition assistance, and cafeteria plans.

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"Other Pay"

The Chronicle defines "other pay" as miscellaneous pay, including severance payments, vested deferred-compensation plans, tax gross-ups (money an employer provides an employee for taxes paid on benefits), vacation leave cashed out, debt forgiveness, and fellowships; it also includes other taxable items such as health benefits, life insurance, housing pay, personal services, dependent-care assistance, adoption assistance, tuition assistance, liability insurance, employer-provided vehicles and parking, travel, meals, moving expenses, entertainment, spending accounts, and club dues.

 
 

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Comments:

Mateo C

and who says working in education does not pay?..




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