Football head coach Steve Addazio and men’s basketball head coach Jim Christian were Boston College’s two highest-paid employees in the fiscal year that ended May 31, 2017, according to the annual disclosure of BC’s 990 tax filings released this week. Addazio received $2,514,859 in total compensation and Christian received $1,480,826. Both have contracts that run through 2020.
As with fiscal 2016, John Zona was the University’s highest-compensated administrator. Zona is BC’s chief investment officer and is responsible for managing the endowment. He received $906,746 in total compensation, after receiving $1,131,195 in fiscal 2016. BC’s investment gains over the same period totaled over $281 million, according to the annual report released last year. BC’s endowment totals $2.4 billion, growing $205 million from the prior year and displaying investment returns of $279 million, or about 11.5 percent.
According to the 990, in 2015 BC established a “performance compensation plan” relating to the recruitment and retention of its investment office professionals. Participants are eligible for “certain awards” based on BC’s investments, which are delivered in the forms of bonuses or other deferred payments.
The University paid 914 individuals and 338 independent contractors over $100,000 in fiscal 2016. Following Zona, CSOM Dean Andrew Boynton was paid $667,544, head hockey coach Jerry York $660,141, former Director of Athletics Brad Bates $622,055, Provost and Dean of Faculties David Quigley $599,000, and Senior Vice President of University Advancement James Husson $581,226. York did not appear on last year’s 990 after receiving $1,249,617 in 2015, which likely included a signing bonus. Former Provost Cutberto Garza, who stepped down in 2013, had a base compensation of $149,055. Garza was reported to begin a professorship in 2014.
As was apparent in previously available reports, BC gave about $5.4 million to the Jesuit community for “instructional, administrative and institutional services, which include the services rendered by the university’s jesuit officers.” The compensation for University President Rev. William P. Leahy, S.J., and that of other Jesuits are deferred to this payment.
The form also states that BC compensates three highly paid employees and a former officer for “health or social club dues or initiation fees… [and] receive an annual membership to a local country club. The full value was included in their taxable compensation.”
The 990 also showed an increase in permanently restricted assets from about $971 million to just over $1 billion. The total amount of gifts decreased by $38,847,468 from last year, with gifts in fiscal 2017 totaling $171,722,628.
In the category of “auxiliary services,” BC’s expenses exceeded its revenue by $8,567,806. This comprises expenditures for dining and residence halls, the BC Bookstores, Health Services, and BC’s 31 NCAA Division I athletic teams. In 2016, this value was $5,876,475, and $2,757,940 in 2014.
As with last year, BC paid $75,000 to Cassidy and Associates, a lobbying agency, to “assist management in the identification, development, and presentation of institutional initiatives for consideration by committees of congress, federal regulatory agencies, and others.”
Featured Image by Sam Zhai / Heights Staff
