Compensation includes regular salaries as well as deferred compensation from prior years; it does not include contributions to employee benefit plans, which we have included in this chart in prior years.
This data is for July 1, 2007 through June 30, 2008 (MIT’s fiscal year 2008, IRS tax year 2007). IRS Form 990 includes compensation to current and former “officers, directors, and trustees” as well as the “five highest paid employees” (§). Therefore, the list beneath Martin Kelly is not comprehensive.
The percent change (%) and difference (�) are calculated from prior year’s forms.
Appears in list of top five [non-officer] salaries.
* Seth Alexander’s compensation includes $267,500 of incentive compensation reported as deferred compensation in prior years’ 990 forms. Steve Marsh’s compensation includes $216,145 of such, Philip Rotner’s includes $214,240, Daniel Steele’s includes $212,381, and Martin Kelly’s includes $188,874.
** Professor Lessard has a children’s educational loan with a balance as of June 30, 2008 of $47,843. His $597,154 includes income from “executive education,” he said.
† R. Gregory Morgan has a $200,000 mortgage loan with a balance as of June 30, 2008 of $200,000.
‡ Chancellor Clay has a children’s educational loan with a balance as of June 30, 2008 of $5,000.