The 990 PF form for 2020 (signed May 11, page 13) was made available on the FSFW's website (scroll down): pdf format. The Foundation's annual budget was reduced by PMI from $80 million to $45 million in 2020 but no explanation of this fact presented in an 'amended pledge agreement' is offered. PMI will further reduce its annual contribution to $40 million in 2021 and $35 million for the years after (until the end of 2029, supposedly), as stated in article 1.2 , page 2. It is still a lot of money. Is it wisely managed?
Comparing 2019 and 2020 (which means having both pdf documents open) we can see the total compensation of officers and directors diminished by $303,206 (at $2,097,811) while the "other employees salaries and wages' raised by $672,112 to $7,422,970. Because of the severance pay for the employees that were laid off ?
Don't think the members of the board were compensated less. In fact most were compensated at the same level as in 2019 for 'working' much less. That means examining Attachment 11 (starting on page 56 in the pdf file).
Derek Yach got $922,651. ($35,075 less than in 2019), Zoe Feldman (who left July 27) got $44,827 for 4 hours per week (hpw) but she used to devote 19 hpw in 2019, for $56,181. It seems the main trend for most directors is they got paid the same as in 2019 for devoting much less time in 2020 (scroll pdf to page 56). Let us recall that 2 board members left in 2020 and have not been replaced yet (Zoe in July and Darshita in November).
Dyborn Chibonga: $50,000 for 1 hpw (used to be 8 hpw) (-7) that's $961 per hour
Darshita Gillies (left November 2), $41,984 for 4 hpw (used to be 6) (-2)
Paul Gardner : $50,000 for 5 hpw (used to be 7) (-2)
Corinna Lathan: $50,000 for 7 hpw (used to be 11) (-4)
Noriko Tojo: $ 50,000 for 2 hpw (used to be 6) (-4) that's $480 per hour
Vandana Abramson: $45,245 for 1 hpw (used to be 2) (-1). that's $870 per hour
Angela Marshall Hofmann: $45,245 for 1 hpw (stable). that's $870 per hour
Pamela Parizek (Chair): $125,000 for 14 hpw but in 2019 she got $93,681 for the same 14 hpw.
Is this level of compensation 'right'? You decide (but of course you don't have any say in this matter). As a friend commented: 'Another world'. Foundation for a Smoke-Free World.
I noticed that David Janazzo (now CFO Treasurer) got a $17,966 raise at $314,567 while Nittin Mittal, the short lived "CSO/COO' (for how long and until when exactly? September 2020?) got $405,188. What was the recruiting fee for his hiring?
Golden parachute for Tom Harding? as former COO (he left on July 31, 2019) he is awarded in 2020, $307,692 (attachment 12, page 59 pdf) and credited of 40 hpw (?) while his linkedin account tells he is since August 2019, Assistant Coach, part time, cross country, track and field, at Staples High School in Westport, Connecticut. Searching a bit more, it looks like Tom Harding is now the COO of the Staples High School but I could not double check this info.
Ehsan Latif (VP grants management) gets $253,130, a raise of $35,589. Steadily climbing the salary ladder. In 2018, his salary was not listed in the 990PF, under $170,000 that was awarded to the 5th highest paid employee that year (see page 43 of the 990PF for 2018)