It's Not, "Not So Bad," It Sucks

It appears that lawmakers on both the state and federal level are starting to look at the salaries of senior executives for tax-exempt organizations.

What I love is the quote from M. Cass Wheeler departing CEO of the American Heart Association:

“If you peeled all that [outrageous supplemental pension and other provisions] back, you’d get to a base salary less than $600,000,” he said.

OK, so your base is almost 1½ times that of the President of the United States of America, and you are doing charity work, and we are supposed to be OK with that.

No, we aren't.

Neither should we be OK with hedge fund managers making over a billion dollars a year, but for non-profits, we are subsidizing the donations that pay their salary.

Enough.

I would note that the most egregious examples are in "not for profit" hospitals, which would imply to me that these institutions are "not for profit" as a fig leaf.