While the derivation of the proverb is uncertain, it is believed that the phrase "charity begins at home" dates back to a Roman playwright named " Terence ," (190-159 BC).
After two millenia, you would think we would have a better grasp of that expression's meaning and import. But no, particularly not those who are heading some of our nation's public companies. Their exorbitant compensation packages -- many in the tens of millions of dollars -- have no correlation to any objective or practical reality we can embrace. And, in many instances, their salaries can not be reconciled, particularly when quarterly losses or sub-par performance is the norm.
While those kind of salary packages have come under increased scrutiny, what has fallen off the radar is the trend that has developed in the "not-for-profit" sector.
Leaders of a number of "charitable" organizations are unashamed to extract huge dollar amounts (some, in the millions of dollars).
Pardon us, but isn't that money which would be better spent feeding the hungry, housing the homeless, or otherwise realizing an organization's objectives?
It's no wonder that after Harris Interactive surveyed 3,040 Americans, 59% reported that they felt the funds allocated by charities to "administrative" costs were excessive. And that concern continues to be justified.
According to an article published in the November/December 2007 issue of Contribute magazine, the monies paid to the heads of "nonprofits" have reached stratospheric heights and, in our opinion, border on the unconscionable.
Here are the compensation packages paid to the heads of just a few high-profile nonprofits:
Ralph Nunez (2005) earned $405,979 [$352,381 in salary, plus $53,598 in benefits]
Phillipe de Montebello (2006) earned $4.75 million [$550,000 in salary, $4 million in deferred pay and $200,000 in benefits]
Stephen H. McCormick (2002) earned $1.975 million [$275,000 in salary, $75,000 in living expenses, $75,000 sign-on bonus, and $1.55 million house loan]
Paul LeClerc (2006) earned $723,383 [$484,432 in salary and nearly $250,000 in benefits]
John Sexton (2004) earned $888,120 [$765,559 in salary, $33,430 in benefits, and a $89,131 expense account]
Lawrence Small (2006) earned $905,464 [$587,742 in salary, and about $300,000 in benefits]
Can anyone spell h-y-p-o-c-r-i-s-y?
