Executive Compensation Packages

Ron Forman and Bill Kurtz’s compensation packages are determined by the governance process set forth by Internal Revenue Code Section 4958 called Intermediate Sanctions for Nonprofit Organizations. This process calls for a Committee of Independent Board members to evaluate the total compensation package of executives by obtaining valid comparable market data for comparable positions in for-profit and tax-exempt organizations and then reviewing individuals and market data and then documenting a decision on a presumption of reasonable compensation.

Audubon Nature Institute Board’s Compensation Committee meets every two to three years to adhere to this process. They review the following information:

  1. Comparison of leading zoos and aquariums executive compensations from comparable positions in peer market groups
  2. Independent consultant studies that concentrate on comparable Zoo and Zoological Societies with an emphasis on wildlife preservation and protection
  3. Independent consultant studies on non-zoological organizations that have a significant impact on their city’s culture and economy
  4. Independent consultant studies on peer group comparable metrics such as number of employees, revenue, budget and assets
  5. Association of Zoos and Aquariums Compensation Studies
  6. Review of Charity Navigator’s nonprofit Executive Compensation Comparison

After a thorough review of comparable market data, the Compensation Committee then recommends an executive compensation package to the Audubon Nature Institute Board’s Executive Committee who then approve a personal services agreement that is signed by the Board Chairman and the President/CEO and one for the Chief of Staff.

Below is a sample list of compensation packages the Compensation Committee reviews while making their recommendations:

  • Shedd Aquarium
  • Wildlife Conservation Center
  • Museum of Fine Arts, Boston
  • The Saint Louis Zoo Association
  • Indianapolis Children’s Museum
  • Isadore Newman School
  • Museum of Fine Arts, Houston
  • Sugar Bowl
  • Chicago Zoological Society
  • New Orleans Country Club
  • Lincoln Park Zoo
  • WWII Museum
  • Zoo Atlanta
  • Georgia Aquarium
  • Museum of Contemporary Arts, Chicago
  • National Aquarium, Baltimore
  • Cincinnati Museum Center

The 10 highest-paid nonprofit executives in New Orleans: How much they make and why.
Read more at NOLA.com