In a very tiny article in today’s Daily News it was reported that Chris Ward the Executive has resigned from his $100,000 part time job with New York Independent System Operator (a not for profit corp).
Having heard that the salary portion of this benefits package was only $30,000 we did a little research and found that although board members salaries appear to be small the total compensation packages are quite large.
In the 2005 tax filing nearly $5.5 Million was paid as compensation of Officers and Directors while another nearly $9 Million was paid in other Management and non program related salaries.
What is more interesting is the distribution of funds to former Officers, Directors, Trustees and Key Employees.
The four listed in 2005 received over $200,000 in compensation.
They also received contributions to employee benefit plans and deferred compensation plans to the tune of over $2.25 Million.
These are the figures directly from the 2005 IRS 990 form.
Why is a not for profit’s Board members being paid in compensation rather than salaries and being paid $2,000 to attend monthly meetings, $1,500 a day for committee meetings and $750 apiece for phone conferences?
How many of the other current and former Board Members are current state city and Authority employees?
Someone should be looking into this.
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