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 Post subject: Is $579,000 Too Much To Pay?
PostPosted: Thu Jul 15, 2004 4:54 am 

Joined: Fri Jul 18, 2003 11:01 pm
Posts: 219
There is a website where the IRS tax form 990s are available for most not-for-profit organizations--such as ballet companies. Disclosure of the 990's is required by law if requested.

These IRS Form 990's include the 5 highest paid salaried employees and the 5 highest paid independent contractors (usually around page 7 of the form) as well as most other financial information such as loans, mortgages, etc.

I was reviewing the 990's of several ballet companies and was startled to see that a ballet master in chief earned $579,000 for his independent contracting services as ballet master. I was further startled to see that his ballet company had made a $200,000 mortgage loan to him at 5% to "induce" him "to continue employment" as the company's ballet master in chief.

Now, I fully realize that not-for-profit DOES NOT MEAN no one profits. And I do realize that business people in the arts may command salaries comparable to business people in for profit companies. But, $579,000 for the ballet master in chief? Does this startle anyone else? How does this compare to the compensation for European artistic directors?

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