10 Philly Nonprofit Leaders Who Would Lose Big Under GOP Tax Plan
Under the Tax Cuts and Jobs Act, employees of nonprofits whose annual pay exceeds $1 million would have their earnings subject to a 20 percent tax.
L: Stephen Klasko | R: Amy Gutmann via UPenn.edu
Republican lawmakers unveiled their anticipated tax-reform plan last Thursday.
Among the winners in the bill: the mega-wealthy and big corporations.
Among the losers? Nonprofits – or, more specifically, highly paid employees of nonprofits. The legislation includes a 20 percent tax on annual pay above $1 million for a nonprofit’s five highest-paid employees.
To give you an idea of how that would affect some big names in the Philly nonprofit world, we looked at some of the top-paid leaders of the area’s largest nonprofits, their paychecks in 2015, and what a 20 percent cut would look like according to that figure.
- Thomas Spray, chief of cardiothoracic surgery at the Children’s Hospital of Philadelphia
Pay: $8.3 million
Potential cut: $1.46 million - Amy Gutmann, president of the University of Pennsylvania
Pay: $3.5 million
Potential cut: $500,000 - Barry Freedman, president and CEO of Albert Einstein Healthcare Network
Pay: $2 million
Potential cut: $200,000 - Larry Kaiser, president and CEO of Temple University Health System
Pay: $1.8 million
Potential cut: $160,000 - Stephen Klasko, president and CEO of Thomas Jefferson University Hospital
Pay: $1.7 million (as a trustee in 2015)
Potential cut: $140,000 - Madeline Bell, CEO of the Children’s Hospital of Philadelphia
Pay: $1.4 million (as the organization’s chief operating officer in 2015)
Potential cut: $80,000 - Francis Dunphy, head coach for men’s basketball at Temple University
Pay: $1.3 million
Potential cut: $60,000 - John A. Fry, president of Drexel University
Pay: $1.3 million
Potential cut: $60,000 - Philip Martelli, head basketball coach at St. Joseph’s University
Pay: $1.2 million
Potential cut: $40,000 - Rebecca W. Rimel, president and CEO of Pew Charitable Trust
Pay: $1.1 million
Potential cut: $20,000
The figures in this article have been updated to reflect a 20 percent tax on the sum of an employee’s income in excess of $1 million as opposed to the total sum of an employee’s income.
