Foundation leaders received a median salary increase last year of 6.4 percent, outpacing the 4.4-percent increase for their employees, according to a new study of compensation at grant-making institutions by the Council on Foundations.
The increase in pay for chief executive officers, chief giving officers, and foundation presidents is more than one and a half times the rate of inflation for 2008. The leaders' median salary was $134,680, meaning that half earned more and half made less.
Salary information was collected in June, July, and August 2008, before last September's sharp drop in the stock market.
"We're sure to see some big changes in 2009," said Judith Kroll, director of philanthropic research at the council, which represents grant makers nationwide.
She cited another recent survey by the organization that detailed the ways in which foundations were grappling with the economy, including hiring freezes, an end to salary increases, and employee layoffs.
The new survey of grant makers' pay was based on responses from 850 foundations and giving programs that reported salaries and other benefits for 7,686 full-time employees.
In addition, the report examined how many women and minorities were employed at foundations.
Diversity and Perks
Other highlights include:
The median salaries for chief executives at all private foundations was $178,600; top leaders at community funds made a median of $103,000.
Program officers at private foundations were paid a median salary of $92,780, while their counterparts at community funds earned a median of $54,851.
Median salaries differed depending on where foundations were located. Median compensation was lowest in the Midwest (8.1 percent lower than the national median) and highest in the Northeast (where it was 13.3 percent higher than the national median).
Slightly more than half of the foundations offered their chief executives various perquisites. (The survey did not include foundations in which the top leader is the only staff member, or corporate foundations, which typically follow the policies of their sponsoring companies.) Cell phones, club memberships, and automobiles or automobile allowances were the most popular perks.
Women represent 76.6 percent of all full-time, paid staff members. The survey found that female employees make up 71.2 percent of professional workers and 91.9 percent of support-staff members at foundations. Slightly more than half of all chief executives or chief giving officers are women. Corporate grant-making programs had the highest share of female leaders: They made up 72.3 percent of top executives at those organizations.
One out of every four full-time, paid staff members of a foundation is a minority, according to the survey. Nearly 7 percent of paid chief executives at grant-making institutions are minorities, and 36.2 percent of all program officers.
The overall annual turnover rate among staff members was 12.4 percent. Independent foundations had the lowest turnover rate, while public foundations had the highest.
Nearly two-thirds of the grant makers surveyed cover all of the costs of health benefits for individual employees.
Eighty-two percent of foundations had a written conflict-of-interest policy for their staff members.
To order a copy of "2008 Grantmakers Salary and Benefits Report," call the Council on Foundations at (888) 239-5221 or go to the organization's Web site. The cost is $45 for council members and $105 for nonmembers.