YU President, Senior Executive Salaries Released
Yeshiva University’s 2017 Form 990 was submitted to the IRS and obtained by The Commentator. The form disclosed the compensation of Dr. Ari Berman for his first calendar year as president of the university, marking the first available disclosure of his salary since he entered office on July 1, 2017.
Dr. Berman’s total compensation was listed as more than $582,000. A precise salary figure could not be obtained because the Form 990 only reports salaries from 2017. The reported amount of $582,000 was therefore for the 10-month period from March 2017, when Dr. Berman began receiving compensation, until December 2017. The form further states that “Berman is provided with the use of a home as a parsonage and to properly discharge his required duties.” The house is located in Teaneck, New Jersey and was purchased in June 2018 for $1.8 million.
Dr. Berman’s approximate compensation ranks him among the top 100 highest paid university executives, according to a 2018 report from The Chronicle of Higher Education. This is in contrast to former President Richard Joel’s salary, which averaged $1.16 million between 2009 and 2016. In 2013, Mr. Joel was paid $2.5 million, which rendered him the fourth-highest-paid executive among private colleges that year.
This year’s form also includes former President Richard Joel's base salary for 2017 of $660,000, $1 million of deferred compensation, and other reportable compensation including health and housing related benefits. In total, Mr. Joel earned slightly more than $2.1 million.
A university spokesperson explained that “deferred compensation is a common part of compensation packages for university presidents. Each year the annual deferred compensation amounts were reported in our previous Form 990 filings. IRS Form 990 reporting requires that deferred compensation be reported twice – double counted – once in the year it was earned and then again when it vests.”
Other officers listed on the form include Senior Vice President Joshua Joseph, who earned a total of $474,949, including a “parsonage allowance” of $61,022.
Jacob Harman, Chief Financial Officer and Vice President of Business Affairs, received compensation totaling $588,065. Provost Selma Botman was paid $360,016. Alyssa Herman, the former VP of Institutional Advancement, was paid $195,771, and Andrew Lauer, Vice President for Legal Affairs, Secretary and General Counsel, took home $751,971 in compensation. Notably, Albert Einstein College of Medicine executives were only partially included in this year’s filing as they are now primarily paid from a different entity as part of YU’s Joint Collaboration Agreement with Montefiore Health System.
YU’s annual Form 990 for the fiscal year beginning July 1, 2017 and running until June 30, 2018 was submitted to the IRS on May 15. The Form 990 is an IRS document that is required to be filed by all 501(c)(3) organizations to publicly disclose their finances. All Form 990s are available publicly and are posted online after processing by the IRS. Form 990s are also available for public inspection pursuant to IRS regulations.
Editor's note: The article has been updated with a clarification of former President Richard Joel's compensation.