Putting the 'profit' in non-profit?
As CEO of the Audubon Nature Institute, Ron Forman continues to be paid far more than any comparable colleagues by a relentlessly wide margin. Consequently, we continue to be as surprised about this situation in 2018 as we were in 2002, when we first discovered it.

It should be noted that the ANI participates in a discretionary 457(f) Executive Retirement Plan for its three top-level officers—Ron Forman, Dale Stastny (until his retirement at the end of 2011), and William Kurtz—which is a deferred compensation plan expressly designed to provide additional, and limitless, pre-tax compensation to highly-paid key employees. There are no contribution rules for 457(f) plans, and an employer can contribute any amount—essentially deferring as much compensation as the executive likes, and the employer is willing to pay. The ANI claims on its IRS Form 990 to be in compliance with rules determining compensation of these employees; however, since these rules include "compensation being set by an independent Board of Directors" (which the ANI Board is NOT), and "salary decisions based on competitive market data" (which we have repeatedly shown is NOT the case), such compliance remains questionable.

In 2012, ANI revenues soared over the previous year, with net positive revenue of $4,923,521… despite the total operating LOSSES of the public facilities they manage for the Audubon Commission reaching a whopping $14 million in 2012—$1.5 mill higher than 2011's already substantial operating loss of $12.6 million! While Ron's base compensation stayed the course at $513,899, his deferred compensation dipped by $67,000, resulting in his total compensation being only $693,065 in 2012.

In 2011, ANI revenues finally exceeded expenses after three years of substantial deficits, with positive revenue of $1,201,383. Ron Forman's total compensation continued its increase in 2011, to $758,692.

In 2010, Forman's total compensation was $689,989.00, despite the fact that the ANI 's net deficit doubled to -$1,870,002.00 as compared to 2009's already substantial deficit of -$989,317, for the third year in a row of deficit spending.

In 2009, Forman's compensation rose yet again from the previous year, to $831,356... despite the ANI finishing the year with a net deficit of -$989,317.

In 2008, Forman's compensation slipped to $552,694.00 as the ANI finished the year with a net deficit of -$1,431,716.

In 2007, Forman's compensation was a whopping $799,398.00 on net revenue of a mere $1,499,565.
 Read More  


 
Home     Login
©  2010 Save Audubon Park
saveaudubonpark@yahoo.com

a 501(c)(3) non-profit corporation