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Non-Profit Leaders Raking In Millions

• The Business Insider

For example, Glenn Lowry, Director of the Museum of Modern Art in New York, made $2.7 million, according to a new survey by The Chronicle of Philanthropy. 

See who else made millions here>

Besides big bucks, the Chronicle's research also notes the impact of the economic downturn. A steady, decade-long rise in non-profit CEO pay may have hit a plateau in 2008; as the recession hit, nearly three in ten chief executives of the nation's biggest charities and foundations took a pay cut.

Other highlights include:

The median change in nonprofit CEO pay from 2007 to 2008:  7% increase The median CEO pay at these big organizations in 2008: about $360,000 Nonprofit hospitals have the highest median CEO pay: more than $830,000 Social service charities have the lowest median CEO pay: about $220,000 At 57 of the organizations surveyed, someone other than the CEO was the highest-paid employee – e.g., investment managers, doctors, and major college athletics coaches

"What's striking about our findings is that three in 10 nonprofit leaders are taking a pay cut (or freezing their pay or declining a bonus) this year in response to the recession," Stacy Palmer, Editor of the Chronicle tells us. "That comes after a  year when their pay was rising fast, by a seven median increase that was far bigger than the increase in business pay. While many people praise those who took cuts, other observers are wondering why more charities didn't take cuts -- especially at organizations where lower-level workers face layoffs and salary reductions."

See which non-profit leaders made the most money in 2008 >>

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