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990 FORM MAKES FOR INTERESTING READING

 
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DMCKEON
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Joined: Mar 17, 2005
Posts: 22572
Location: Staten Island

PostPosted: Thu Jun 19, 2008 7:27 am    Post subject: 990 FORM MAKES FOR INTERESTING READING
From Thu Jun 19, 2008 3:00 am to Sun Jun 22, 2008 2:59 am (included)
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As reported yesterday the new chief of the Port Authority is set to receive an additional $100,000 in salary and benefits for being a board member of New York Independent System Operator (a not for profit corp). Having heard that the salary portion of this benefits package was only $30,000 we did a little research and found that although board members salaries appear to be small the total compensation packages are quite large.

In the 2005 tax filing nearly $5.5 Million was paid as compensation of Officers and Directors while another nearly $9 Million was paid in other Management and non program related salaries.


What is more interesting is the distribution of funds to former Officers, Directors, Trustees and Key Employees.

The four listed in 2005 received over $200,000 in compensation.

They also received contributions to employee benefit plans and deferred compensation plans to the tune of over $2.25 Million.

These are the figures directly from the 2005 IRS 990 form.

Check it out as it makes for very interesting reading.
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