May 27, 2012

N.Y. Will Soon Require Many Charities to Justify High CEO Pay

By Ben Gose

New state regulations in New York would force some charities that pay executives more than $199,000 to seek permission from the state to continue offering those salaries.

The state’s effort to rein in excessive compensation stopped short of a firm cap on salaries that charity executives had feared nine months ago when Gov. Andrew Cuomo appointed a committee to look into concerns that some charities had used state dollars to pay their executives high