On Tuesday, The DCNF reported that 18 of the 23 operating non-profit co-ops paid their top executives salaries ranging from $263,000 to $587,000, according to 2013 IRS tax filings. Those figures appear to violate federal laws and regulations barring “excessive compensation” for tax-funded enterprises.
...Aaron Albright, a CMS spokesman, told TheDCNF that “the use of federal CO-OP loan funds is prohibited from, among other restrictions, providing excessive executive compensation.”Many of the co-op executives are better paid than the President of the United States, Members of Congress, Supreme Court Justices, U.S. cabinet secretaries and all 50 state governors.
...At the Louisiana Health Cooperative, CEO George Greg Cromer, was reported to have been paid $105,000.
Buried in the footnotes, however was the fact that the co-op paid $1.3 million to Terry Shilling, to serve as the Louisiana co-op’s “interim CEO” in 2013.
...But entire Compass co-op management team comes from a for-profit partnership called Eastwick Strategy Group, which paid Oestreich $420,000, Tkachyk $296,000 and LeBarron $282,000.
Separately, the co-op also paid Eastwick an additional “management fee” of $2 million and another $5.4 million for “consulting.”
No comments:
Post a Comment