Dartmouth Releases Tax and Salary Info
Hanover — Dartmouth’s fiscal year 2012 revenue and expenses increased since last year, according to the college’s 990 tax forms, with expenses jumping by $43.6 million and revenue by $8.5 million.
“Revenue went up because tuition went up and the contributions went up,” Dartmouth spokesman Justin Anderson said. “A number of expenses increased,” Anderson said. The three most prominent were salaries, depreciation and professional services.
The reported revenue and expenses for the fiscal year ending June 30, 2012, along with Dartmouth salary information from the 2011 calendar year, are found in the college’s 990 tax forms, which were filed May 15.
Former President Jim Yong Kim, whose salary dropped by $167,260 from 2010 to 2011, pocketed a total compensation of $917,625 for the 2011 calendar year. The dip, Anderson explained, can be attributed to Kim’s decision to decline a $100,000 bonus in 2011 amidst a difficult financial period at Dartmouth.
“Given budget considerations and the efforts that were being made around campus to close the budget gap, he declined to accept the bonus,” Anderson said.
Kim left Dartmouth in June 2012 to claim an Obama-nominated position as head of the World Bank.
“It’s worth mentioning that the compensation levels for senior administrators are very much at or near the median for the Ivy League,” Anderson said. “In fact, when Jim Kim was hired, the board made it a point to raise his compensation so that it was at the median of Ivy League presidents.”
Five individuals, listed on one page of the 990 under “officers, directors, trustees, key employees and highest compensated employees,” are recorded as earning more than $750,000 in total compensation, which includes base pay and any bonuses, retirement, deferred compensation and nontaxable benefits. Those who earned more than $750,000 are as follows: Former President Kim, $917,625; Chief Investment Officer Pamela Peedin, $872,010; Vice President for Health Affairs and Geisel School of Medicine Dean Wiley Souba, $839,547; The Dartmouth Institute Chief of Strategy Adam Keller, $776,756; and Dartmouth Medical School Department of Surgery Chairman Richard Freeman, Jr., M.D., $763,767.
Katie Mettler can be reached at email@example.com or 603-727-3234.