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Nearly three in ten of the leaders of the nation's biggest charities and foundations have taken pay cuts in the past year, the Chronicle of Philanthropy reports.
Based on the Chronicle's annual survey of compensation at 325 large nonprofit organizations, fifty-seven charities and foundations — 29 percent of the 195 groups that responded to the question — said their top executive took a pay cut, declined a raise or bonus, or had his or her pay frozen in the past year. The median pay cut among those executives was 10 percent. At the same time, the overall median salary for nonprofit leaders rose 7 percent, almost double the rate of inflation. In contrast, total compensation for executives at the 200 largest for-profit companies dropped by 9 percent in 2008, according to a survey conducted for the New York Times.
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