Pay Raises for Nonprofit Execs Outpace Inflation
From Times Wire Reports
Compensation increases in 2003 for the executives who run the largest nonprofit organizations were nearly double the rate of inflation, according to the Chronicle of Philanthropy’s annual survey.
The study being released today showed that the median salary of 215 chief executives was $291,356.
The publication determined that the middle range of the increases from 2002 to 2003 was 3.7%, almost twice the inflation rate of 1.9% last year. Still, the rate of compensation increase was the smallest since 1996.
Salaries of leaders of 309 of the largest nonprofit organizations were reviewed in 2003.