Ha ha ha. If you're tired of stories about Gloria Pace King's compensation, you'd better not pick up a paper or turn on the local news for the next few days. The United Way of Central Carolinas posted its long-awaited report today.
Here's a few snippets from the summary report, and Lord, does she come across as greedy and controlling.
"In recent years, there also developed an undercurrent of concern about the size of
King's compensation and about her controlling leadership style." This is the first public acknowledgment of tension within the organization, though it was fairly common knowledge among the local nonprofit world. "In response, the Board sought and obtained written guidance concerning an appropriate executive compensation philosophy and process. However, the suggested guidelines and programs were neither formally adopted nor fully implemented." This is firm acknowledgment that the board knew what was going on and didn't take action.
"September 2005, the benefits attorney prepared a lengthy memo for the team, warning that King's total compensation was already at the high end and that "(t)here are concerns about satisfying intermediate sanctions rules if additional nonqualified compensation is added to her total compensation package.,,4 The attorney was not invited to participate in the process after that date, reportedly at King's direction." Ha. Ha.
"As the IRS Form 990 report for the 2006-07 fiscal year was being prepared in early 2008, senior staff on its own initiative began putting together a communication plan to explain the new SERP and attempt to show why it was appropriate and defensible. Concerned about the large number that would appear as a contribution to benefits in a single year, staff discussed a strategy of 'getting ahead of it' instead of 'waiting' to explain it after the Form 990 had been filed and posted to the UWCC website. They posed hypothetical questions that the public might be expected to ask and provided possible answers. King rejected the communications plan except that she furnished the "talking points" to the Board Chair in case he received questions like those predicted by the staff. King also delayed UWCC's website posting of the Form 990 until June 2008."
King, I'm sure you'll be shocked to learn, didn't deign to be interviewed by the panel. Perhaps she can run for governor of Illinois. It sounds like she has a fitting management philosophy.