CEOs of some of New York City's biggest nonprofit medical centers are earning $1 million-plus bonuses, according to the latest numbers from recently filed 2010 tax forms, reports the New York Post. With nationwide scrutiny of the tax-exempt status of hospitals, the public is carefully examining the number of zeros on the paychecks of those leaders.
The retiring head of New York-Presbyterian Hospital, Dr. Herbert Pardes, received a $1.9 million bonus, after a $1.7 million salary and $648,686 in "other" compensation, according to the New York Post.
Dr. Linda Brady, president and CEO of Kingsbrook Jewish Medical Center, in 2010 received a $241,090 bonus on top of a $736,481 salary and $3.2 million in retirement funds, according to the article. Mount Sinai's President and CEO Dr. Kenneth Davis received a $1.2 million bonus in 2010, reports the Post. North Shore-LIJ Health System's CEO Michael Dowling earned $1 million. Hospital for Special Surgery's President Louis Shapiro received a $1.5 million bonus. Montefiore Medical Center's CEO Steven Safyer received a $359,845 bonus with a $2.2 million retirement fund.
"It's troubling enough when they're getting large salaries and compensation packages. This just adds to serious concern," said Judy Wessler, head of the Commission on the Public's Health System, calling the bonuses inappropriate.
Gov. Andrew Cuomo's (D-N.Y.) recently launched task force scrutinizes the top compensation packages of the state's nonprofit heads, including hospitals. The task force, which began investigations in August, reviews whether the executive and board pay is appropriate and if not, whether it warrants returns in funds back to the state.
To learn more:
- read the New York Post article
- check out FierceHealthFinance's special report, "Are nonprofit hospital execs paid too much? Seven 7-figure paychecks"
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