Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

NowISeetheLight

(3,997 posts)
17. Yes
Tue Nov 16, 2021, 04:36 PM
Nov 2021

The CEO makes around $1.5m per the 2020 non-profit filing. They are unique in that the “company” is actually a hybrid merger of two large systems. Both of the companies file their own tax return while the parent company has their own too. The parent company only lists 15 employees and “revenue” of around $54m and expenses of $90m. Executive compensation for the 15 is about $9.5m for the year (10% of the budget). The CEO makes around $1.5m and there are three others over $1m a year (CFO, Chief Clinical Officer MD, etc). The others make $400k-$700k each. The parent company holds the assets so there are a couple billion in assets and liabilities. Given the education, experience, and responsibility for running a multi-billion dollar healthcare company that is the states largest employer, the pay isn’t excessive. If the CEO made $10m a year I’d have a different opinion.

Even so there have been some scandalous events in recent years. About six years ago (before the merger) the system paid $2.5m in bonuses to top executives. A couple months later they announced a $15m deficit for the year and laid off 400 employees. They were justifiably crucified in the media.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»General Discussion»She was billed $809 for a...»Reply #17