By Gary Snyder
The state of Pennsylvania is investigating the Hershey Trust’s finances and now Leroy S. Zimmerman may get another set of eyes looking over his shoulder. Mr. Zimmerman has gone from a $35,000 board member of the charity for disadvantaged youth to $500,000 - for the second consecutive year. His total compensation on Hershey-related boards is $1.9 million. Zimmerman's overall influence in Hershey matters expanded with his board directorships and his compensation. He is chairman of the board of the Hershey Trust Co. and the only person seated on all four Hershey boards, one of which, the one overseeing the Hershey School, is unpaid
Imperative gathers its information principally from public documents...some of which are directly quoted. Virtually all cited are in some phase of criminal proceedings; some have not been charged, however. Cites in various media: Featured in print, broadcast, and online media outlets, including: Vermont Public Radio, Miami Herald, National Public Radio, Huffington Post, The Sun News, Atlanta Journal Constitution, Wall Street Journal (Profile, News and Photos), FOX2, ABC Spotlight on the News, WWJ Radio, Ethics World, Aspen Philanthropy Newsletter, Harvard Business Review, Current Affairs, The Chronicle of Philanthropy, St. Petersburg Times, B, USA Today Topics, , Newsweek.com, Responsive Philanthropy Magazine, New York Times...and many more • Nonprofits: On the Brink (iUniverse, 2006)
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2 comments:
The Hershey Trust is unique in this country (and probably in the world) ~ a charity (or cluster of charities) funded from a single corporation and responsible for a variety of normally public institutions in that city.
The recent compensation increases are staggering. How does one assess what would be reasonable given the unique nature of the size, structure, and responsibilities of the Trust?
The compensation is only part of the problem. Was there a compensation survey done to compare Zimmerman's with others in like situations? If they did that there may be no problem. However, is there a potential conflict with paid trustees passing judgement on the pay of their leader. Frequently the board members pay is linked to the leaders. (see Blue Cross in MA, in CA., just recently) There is typically a quaint relationship among board members. Many are selected by their leader.
Just some thoughts.
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