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St. Jude Executive Salaries: Understanding the Facts
St. Jude Children's Research Hospital is a world-renowned institution that has been providing care for children with cancer and other life-threatening diseases for over 50 years. The hospital has a reputation for providing top-notch care and research, but it has also come under scrutiny for its executive salaries. In this blog post, we will explore the facts about St. Jude executive salaries and try to understand why they are so high.
First, it's important to understand that St. Jude is a non-profit organization. As such, it is required to file a Form 990 with the IRS each year, which discloses the salaries of its top executives. According to the most recent Form 990 available (for fiscal year 2019), the top five executives at St. Jude earned the following salaries:
1. James R. Downing, President and CEO: $2,444,436
2. Richard C. Shadyac Jr., President and CEO of ALSAC (the fundraising and awareness organization for St. Jude): $1,345,667
3. Michael D. Wall, Executive Vice President and Chief Operating Officer: $1,233,802
4. Stephen E. White, Senior Vice President and Chief Financial Officer: $1,080,306
5. Ellis J. Neufeld, Physician-in-Chief and Executive Vice President: $1,011,508
These are undeniably high salaries, but it's important to note that they are in line with what executives at other major non-profits earn. According to a study by Charity Navigator, the median CEO salary at a non-profit with a budget of $500 million or more was $674,679 in 2018. St. Jude's budget for fiscal year 2019 was $1.08 billion, which puts it well above that threshold.
Another factor to consider is the level of responsibility that these executives have. Running a hospital and research institution of this size and complexity is no small feat, and it requires a great deal of expertise and experience. Additionally, St. Jude is in a highly competitive field, and it needs to attract top talent in order to continue to provide top-notch care and research.
That said, it's understandable that some people might be uncomfortable with these high salaries, especially given that St. Jude relies heavily on donations from the public. However, it's worth noting that St. Jude is very transparent about its finances, and it continually receives high ratings from organizations like Charity Navigator and GuideStar. Additionally, the hospital provides care to all patients regardless of their ability to pay, and it never bills families for treatment, travel, housing, or food.
In conclusion, the executive salaries at St. Jude are undeniably high, but they are in line with what executives at other major non-profits earn, and they reflect the level of responsibility that these individuals have. Additionally, St. Jude is highly transparent about its finances, and it provides top-notch care and research to children with life-threatening illnesses. While people may have differing opinions on executive salaries, it's clear that St. Jude is doing important work that benefits children and families around the world.