LRC note. We try to have one thread per topic so we merged two threads into one and kept this thread title as it was started 10 hrs before the 2nd thread. The other thread was titled, "USATF CEO Max Siegel pay went down from $3.8M to $1.26M last year."
And the answer is...$1.3 million. That's about what he made in 2020 and 2019 as well.
USATF brought in revenue of $37.94 million but had expenses of $44.66 million so they lost $6.7 million on the year. There's a note at the very front that the loss "reflects planned expenses related to the 2022 World Athletics Championships."
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It's the fifth straight year that Siegel made more than $1.2 million. USATF's says the large loss came from "planned expenses related to the 2022 World Athletics Championships." *MB: USATF posts its 2022 tax return -- guess h...
Hes probably the highest paid "non profit" in history. This is disgusting. Who pays him? The board. Who appoints the board? Nike. Who appointed Nike? "Hope you guess my name...but whats puzzling you, is the nature of my game."
This post was edited 5 minutes after it was posted.
Nike signed one of the longest and most valuable sponsorship contracts in sports history on Wednesday, agreeing to extend its sponsorship of the USA Track & Field team for an additional 23 years.
spending 3.4% of a non-profit's revenue on a CEO seems high. Esp one as incompetent as USATF.
and esp when the non-profit is supposed to support athletes but only a few of whom make a comfortable living.
I've never understood how these people who take so much from non-profits live with themselves. How do they wake up and go to work knowing they are working counter to the purpose of their organization? And of course the board is guilty too.
It's an old story - a few old people getting rich off track and field while the actual athletes are poverty stricken. Been happening for generations.
It’s the AAU all over again. Top execs at USATF fly first class, stay in five-star hotels, and make six to seven-figure salaries while the athletes themselves get jack. USATF exists for the sole purpose of benefitting those who run it, and they do it off the backs of the athletes who do all the work. It’s time for Congress to get involved (again).
Hes probably the highest paid "non profit" in history. This is disgusting. Who pays him? The board. Who appoints the board? Nike. Who appointed Nike? "Hope you guess my name...but whats puzzling you, is the nature of my game."
Not even close. Many nonprofit hospital CEOs make many multiples of Max's salary. No doubt he's overpaid, but there are definitely others who are paid more.
Not even close. The Kaiser CEO is probably north of $10MM
Non profit?
Ya. Non profit just means that the company isn't publicly traded, ie doesn't have stocks, not that it isn't being used to make a select few people filthy rich.
Ya. Non profit just means that the company isn't publicly traded, ie doesn't have stocks, not that it isn't being used to make a select few people filthy rich.
Sort of like the Higher Education Industrial Complex. Its no coincidence that the two highest inflated economic sectors are 1) Higher Education and 2) Healthcare.
Hes probably the highest paid "non profit" in history. This is disgusting. Who pays him? The board. Who appoints the board? Nike. Who appointed Nike? "Hope you guess my name...but whats puzzling you, is the nature of my game."
Not even close. Many nonprofit hospital CEOs make many multiples of Max's salary. No doubt he's overpaid, but there are definitely others who are paid more.
Like the Red Cross? Revenue three billion dollars? Nope.
Ya. Non profit just means that the company isn't publicly traded, ie doesn't have stocks, not that it isn't being used to make a select few people filthy rich.
Sort of like the Higher Education Industrial Complex. Its no coincidence that the two highest inflated economic sectors are 1) Higher Education and 2) Healthcare.
Nonprofit CEO pay has been climbing in an effort to attract for profit CEO talent. CEOs of health systems and credit unions rake in the biggest salaries, but they are effectively running huge enterprises that have billions in revenues.
In the "charity" nonprofit world, $1.3 million probably puts you in the top 50. But USATF is really just a division of Nike these days. So, Seigel is all but on Nike's payroll in reality. If you cut his salary to $700k, you would not see an extra $500k dedicated to athletics. It would just be $500k in savings for Nike.
Hes probably the highest paid "non profit" in history. This is disgusting. Who pays him? The board. Who appoints the board? Nike. Who appointed Nike? "Hope you guess my name...but whats puzzling you, is the nature of my game."
Not even close. Many nonprofit hospital CEOs make many multiples of Max's salary. No doubt he's overpaid, but there are definitely others who are paid more.
What is their (hospital CEO’s) take as a percentage of revenue?
Max’s 11% last year was maybe the biggest raping ever. The average CEO of major corps (for profit) is between .25-.50% of total revenue. Even at the current 3.5% or close to that, Max is in heavy taking as a percentage of revenue.
