Unfair Competition From the Public Sector in the Tourism Industry And Tourism Re

Cover Unfair Competition From the Public Sector in the Tourism Industry And Tourism Re
Unfair Competition From the Public Sector in the Tourism Industry And Tourism Re
Taxation United States Congress House Committee On Small
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000 executives and employees listed on the IRS returns were paid at least SIOO. OOO a year • More than 200 were paid S450. 000 or more.
• Nine executives received salary, bonuses and benefits exceeding SI million, placing them ID the top I percent of all taxpayers.
• Many large nonprofits commonly reward- ed executives with cash bonuses and incen- tives based on the financial performance of their organizations, just as for-profit compa- nies do. One large New York hospital paid its new presiden
...t a 51 million "signing bonus. " • Retirement and severance pay for execu- tives have soared When University of Pitts- burgh President Wesley W. Posvar retired in 1991. He received a compensation package worth S3. 3 million, plus a pension of $201, 600 a year Following a public outcry, the pen- sion was reduced to S141. 600 a year.
• Chanties and other nonprofits have given millions of dollars in low-mierest or no- interest loans to executives to buy houses, redecorate residences, join country clubs or pay for children's schooling.


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