Salaries of area college presidents are about average
Bennington College President Elizabeth Coleman made $325,824 in total compensation for the 2005-06 academic year, placing her in about the 65th percentile for private college presidents, according to the report. Coleman's salary was $270,232 with $54,622 in additional benefits. In this same academic year, the college had $33 million in expenditures and raised $40 million in revenue.
In nearby Williamstown, Mass., Morton Owen Schapiro, president of Williams College, made $474,518 in total compensation, according to the report, and $385,000 of this total came from his salary. Williams brought in $309 million in revenue, spending only $178 million.
Rival Amherst College brought in $311 million, spending $137 million with its president, Anthony Marx, earning $421,397 in total compensation.
The report collected total compensation, salary and benefits data for 653 private colleges and 114 specialized institutions using the tax form 990, which all nonprofit organizations, including colleges, must file. The form requires these organizations, "to list among other financial data the pay and benefits of their officers, directors, trustees and key employees."
The top earning presidents of private universities include Northeastern University President Richard M. Freeland (about $2.9 million in total compensation in the academic year 2005-06), Philadelphia University President James P. Gallagher (about $2.5 million) and Johns Hopkins University President William R. Brody (about $1.9 million).
Freeland, who stepped down in August 2006, received $514,500 in salary and an additional $2.4 million in benefits from a long-term annuity retirement payment, according to the report. Gallagher, who stepped down in August 2007, made $2.2 million of his total in deferred compensation that accrued over five years, and Brody also received about $920,000 from his $1.5 million salary in deferred compensation.
As for public universities, University of Delaware President David P. Roselle led the way in both total compensation and salary rankings, earning $874,687 and $629,006, respectively. University of Virginia President John T. Casteen III was the second highest earning public university president receiving $753,627, and University of Washington President Mark A. Emmert was third, collecting $752,700. The report used data from the current academic year, 2006-07, for pubic universities.
In Vermont, Daniel M. Fogel, president of University of Vermont, gets $301,144 for an annual salary and about an additional $100,000 in car, house, deferred compensation, retirement pay and a performance bonus for a total compensation of $409,918, according to the report. Robert G. Clarke, president of Vermont State College system, received $205,307 in total compensation.
Fogel, in about the 56th percentile nationally for public university presidents, earned the second most in total compensation of public university presidents in New England behind University of Connecticut President Philip E. Austin, who will make $510,000 this year. University of Massachusetts at Amherst President John V. Lombardi ($382,825) placed third, followed by University of Rhode Island President Robert L. Carothers ($239,326), University of New Hampshire Interim President J. Bonnie Newman ($238,650) and University of Maine President Robert A. Kennedy ($222,313).
The highest earning president in Vermont was Middlebury College President Ronald D. Liebowitz receiving $477,764, about $425,000 of this amount in salary, according to the report. Middlebury College also brings in the most revenue, $288 million, of any Vermont college or university, spending $207 million.
According to the report, Harvard University took in the most revenue, $6.3 billion, and had the greatest expenditures, $3 billion. It's president, Lawrence H. Summers, earned $611,226 in total compensation. As for nearby Boston College, the Rev. William P. Leahy received $0 for salary, benefits and total compensation.
The following is a list of the other Vermont institutions of higher education listed in the report in order of total compensation earned: Dean of Vermont Law School Geoffrey B. Shields ($290,125), Saint Michael's College President Marc A. vanderHeyden ($281,723, which includes some deferred compensation), Norwich University President Richard W. Schneider ($269,016), Green Mountain College President John F. Brennan ($220,347), Marlboro College President Ellen McCulloch-Lovell ($158,067) and Burlington College President Jane O'Meara Sanders ($123,697).
TALK TO US
If you'd like to leave a comment (or a tip or a question) about this story with the editors, please email us. We also welcome letters to the editor for publication; you can do that by filling out our letters form and submitting it to the newsroom.