President Christina Paxson made a base salary of $350,000 in 2012, the most recent year for which data are available, according to the most recent Form 990 tax document reported by the University.
But this number reflects the fact that Paxson did not assume office until July of that year, and therefore does not represent her true compensation, said Beppie Huidekoper, executive vice president for finance and administration.
In 2012, then-President Ruth Simmons made $648,021, a slight increase from the $643,072 she made in 2011. This included Simmons’ retirement compensation, Huidekoper said.
As a nonprofit organization, the University is required to file the 990 tax form with the Internal Revenue Service every year to maintain its tax-exempt status. The filing reports base salaries and total compensation for the University’s officers, directors, trustees and key employees as well as the University’s endowment values.
Substantial changes in administrative salary from 2011 to 2012 are “just transition,” Huidekoper said. Base compensation includes earnings, other compensations and non-taxable benefits, whereas total compensation includes other benefits such as health insurance and deferred compensation, Huidekoper said.
Changes in compensation can be attributed to faculty transitions, Marisa Quinn, vice president for public affairs and University relations, wrote in an email to The Herald. Quinn wrote that individuals “either left the faculty and joined the administration, or returned to the faculty from the administration.”
This year’s report does not represent any significant changes in compensation trends, Huidekoper said.
David Kertzer ’69 P’95 P’98 served as provost until 2011, and then “went back to a faculty salary,” Huidekoper said. His base compensation decreased from $484,823 to $294,064 between 2011 and 2012.
Dean of the Faculty Kevin McLaughlin P’12 began his duties on July 1, 2011, and his base compensation increase of $256,587 to $324,200 in 2012 reflects this change.
Then-Provost Mark Schlissel’s P’15 compensation rose from $248,587 to $473,530 between 2011 to 2012.
Cynthia Frost, former chief investment officer, was the University’s highest-paid employee in 2012, according to the document, which listed her total compensation as $2,100,895. Frost’s salary also increased from $492,057 to $541,431 because “when she resigned, she had accumulated vacation time,” Huidekoper said, adding that Frost received the payout after resigning.
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