Nonprofits rated for level of CEO pay

Here are the week’s top nonprofit stories reported elsewhere:

* Charity Navigator, a charitable rating agency, examined IRS 990 forms filed by 4,300 charities and found the average CEO pay was $148,477 and represented about 3.39 percent of the average charity’s total expenses, but that 23 charities spend less than 60 percent of their budgets on programs and services, and paid their CEOs more than $250,000 a year, The Wall Street Journal reported Aug. 10.

* With the number of nonprofits surging, and a tight supply of nonprofit executives qualified to fill top leadership and development jobs, a growing number of for-profit executives are being recruited, especially those who have volunteered or served on nonprofit boards, The Wall Street Journal reported Aug. 9.

* Nearly eight months after the manager of $23 billion-asset endowment at Harvard University announced he was quitting to start his own money-management firm, the nonprofit Harvard Management Co. has not been able to hire a successor, The New York Times reported Aug. 5.

* The Presbyterian Church U.S.A. has threatened to take a vote to divest its stock in four U.S. firms unless they stop providing military equipment and technology used in the occupation of Palestinian territories, The New York Times reported Aug. 6.

* Habitat for Humanity International named Jonathan T.M. Reckford, a former executive for Goldman, Sachs & Co., the Walt Disney Co. and Best Buy, and most recently executive pastor of Christ Presbyterian Church in Edina, Minn., as its new chief executive, The New York Times reported Aug. 5.

* A committee staffer says the Senate Finance Committee plans to act soon on a package of charitable-giving tax incentives, Tax Analysts reported Aug. 8.

* New York City investigators are looking at more than $800,000 in loans and transfers from the Gloria Wise Boys & Girls Club to the liberal Air America Radio network and one of its founders, Cybercast News Service reported Aug. 5.

* Managers of U.S. businesses increasingly see social responsibility as a strategic imperative, recognizing that companies have a commitment not just to stockholdlers, but also to suppliers, customers, employees, communities and social activists, BusinessWeek reported in its Aug. 15 edition.

* North Carolina Treasurer Richard Moore, widely believed to be considering a run for the Democratic nomination for governor in 2008, solicited donations from private money managers who do business with his agency for a nonprofit foundation he created to help North Carolinians do a better job managing their money, The News & Observer in Raleigh reported Aug. 8.

* A Wake County judge granted a request from N.C. Attorney General Roy Cooper to halt operations of Grant Quest, a Raleigh firm that he charged had fooled consumers into paying an up-front fee and then had not helped them land the cash grants he had promised, The News & Observer in Raleigh reported Aug. 4.

* The Mozilla Foundation, a nonprofit that distributes the Firefox web browswer, has launched a for-profit busienss to market the browser and other programs, The Globe and Mail in Toronto reported Aug. 4.

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