August 7, 2008
Charities Should Heed New Rulings on CEO Pay
Richard A. Grasso, former head of the New York Stock Exchange, won a major victory when two New York courts ruled this summer in his favor — allowing him to keep the $139.5-million he was paid during his tenure.
Because Mr. Grasso and the stock exchange were sued for violating laws governing nonprofit groups, the case represented the most consequential legal challenge that has been pursued over executive-compensation practices at nonprofit organizations.
The case
This content is only for subscribers. You can gain access by purchasing a:
Print Subscription
Digital Subscription
Already have an account? Log In Now.
Get more great stories about the nonprofit world delivered to your inbox every weekday. 
