George McDonald, founder and president of the Doe Fund, announced that he's running for mayor of New York. He said that creating jobs is his top priority.
He's already done that at the Doe Fund, particularly for himself and his family. According to a community newspaper report, McDonald earns more than $500,000 a year as president of the Doe Fund, and two members of his family make more than $200,000 annually.
How does he justify these salaries for a non-profit and tax-exempt organization. McDonald gets $100,000 a year more than President Obama. Does he have more responsibilities and pressures than Obama?
Non-profit organizations like the Doe Fund justify excessive compensation by arguing they must compete for top talent. Compete with who? Fortune 500 companies? People who work for non-profit
organizations should have a different set of values than employees of profit-making entities. If they lack those values, they shouldn't work for non-profits.
Governor Andrew Cuomo says he'll cut state funding for non-profit groups that pay staffers over $200,000 a year. That means the Doe Fund could lose a substantial amount of dough. If George
McDonald becomes mayor, rest assured he won't settle for the $1 a year salary Mike Bloomberg gets.