Jim Boeheim remains SU’s highest paid employee in 2011 fiscal year

first_imgUPDATED: May 22, 2013 at 3:05 p.m.Once again, Syracuse men’s head basketball coach Jim Boeheim made themost of any Syracuse University employee in 2011, with $1,143,801 in base salaryand more than $1.8 million in total compensation.The salaries and compensation of SU’s top-paid employees can be found in its Internal Revenue Service Form 990. Nonprofit organizations file the form with the IRS each year. The 2011 fiscal year ran from July 1, 2011 to June 30, 2012.Like in 2010, SU didn’t pay for Boeheim’s entire salary.Out of the $1,143,801 in base compensation, the university only paid $296,259. IMG Worldwide Inc., a global sports, fashion and media business, paid $600,000 and he earned $247,542 from holding the Big Orange Basketball Camp.AdvertisementThis is placeholder textIMG Worldwide Inc. partnered with SU to help provide financial support for the athletic department outside of the university, said SU’s Chief Financial Officer Lou Marcoccia. Part of the agreement was that the media company would be responsible for determining and paying for a certain portion of the coaches’ salaries.Kevin Quinn, senior vice president of public affairs, added that this was a common practice among Division I sports teams.With $60,000 in bonuses and incentives; $490,905 in other reportable compensation; $106,485 in retirement and deferred compensation; and $17,470 in nontaxable benefits, Boeheim’s total compensation adds up to $1,818,661.These bonuses are usually determined by the coach’s contracts, Marcoccia said.“The success of their team is an important component,” he said. “Often times the success of the team’s graduation rates is in there too.”In some coaches’ contracts, more graduating athletes could lead to an increase in bonuses, Marcoccia saidThough Boeheim’s total compensation in 2011 was about 4.6 percent less than 2010, he still earned about $800,000 more in total compensation than SU’s second highest-paid employee, former head football coach Doug Marrone.Marrone had a total compensation of $1,031,653 — about 18.1 percent less than 2010 — with a base salary of $917,272.SU paid $298,332 of Marrone’s base salary, and IMG Worldwide Inc. paid $618,940. He lost $92 for holding a summer football camp, according to the form, but that wasn’t included in this salary estimate.He also received $50,000 in bonus and incentives; $15,913 in other reportable compensation; $24,500 in retirement and other deferred compensation; and $23,968 in nontaxable benefits.After Marrone, Chancellor Nancy Cantor was paid $648,146 in base salary — about 5 percent more than the $615,327 she was paid in 2010.Cantor’s salary saw an increase after her voluntary pay cut expired, Quinn said. The chancellor took the pay cut when the recession hit, but her pay is now at its original level, he added.Besides compensation, the form also shows the university’s endowment increased by about 3 percent. It went from $890,579,165 in 2010 to $916,521,664 in 2011, according to the form.Marcoccia, SU’s CFO, credited the endowment’s increase to the global market’s success during the 2011-2012 fiscal year. He predicts another endowment increase during the 2012-2013 fiscal year.—Asst. News Editor Alfred Ng contributed reporting to this story. Comments Published on May 21, 2013 at 7:55 pm Contact Dylan: dmsegelb@syr.edu | @dylan_segelbaum Facebook Twitter Google+last_img read more