Thanks to a poster in the Forums, we’ve just been alerted to this article from the July 2017 issue of the Chronicle of Philanthropy. Click through to read the original report, the results of a study conducted by the journal about the performance of the endowments of nonprofit organizations.
You’ll notice that in the fifth paragraph, Albuquerque Academy’s endowment is cited as the lowest performer out of a field of 1600 institutions. And yet, our administration continues to claim that the endowment is well-managed. This is blatantly untrue.
One more item of interest: the New England School of Law, in Boston, Massachusetts, is the top performer among charitable institutions in the study. The Dean of NESL, according to his school’s IRS Form 990, earned a salary of $625,444 in 2014. Using the Cost of Living Comparison Calculator for Mr. Watson’s reported salary of $384,818 for the same year, Mr. Watson’s pay in Albuquerque translates to $671,948 in Boston – meaning in terms of purchasing power, the head of the lowest-performing school in the Chronicle’s study surpasses the head of the highest-ranking school by $46,504.