News

Former Coaches Remain BC’s Highest-Paid Employees, University Scholarship Amounts Decrease, FY20 Tax Returns Show

Former football head coach Steve Addazio and former men’s basketball head coach Jim Christian remained the University’s highest-paid employees during the 2020 fiscal year (FY20), according to Boston College’s annual 990 tax filings, a spot they’ve held in recent years. Addazio—who was fired after seven years at BC—earned $2,650,351, and Christian—who was fired mid-season after six-and-a-half years at BC—earned $1,419,516.

Following Addazio and Christian, the highest-paid employees at the University were John Zona, BC’s chief investment officer and associate treasurer; Martin Jarmond, former athletic director; and Andrew Boynton, dean of the Carroll School of Management.

The IRS requires all tax-exempt organizations to submit a Form 990 explaining expenditures made over the course of the previous fiscal year. The University’s net assets increased by $113,642,408 and BC’s total assets were worth $3,418,671,367 at the end of FY20.

Zona, who is responsible for managing the University’s endowment, earned $954,233 in FY20. In total, $325,565 of Zona’s salary was paid as a bonus, according to the 990. Jarmond, who was hired away to UCLA last year to serve in the same position, earned $718,950, including $35,000 in bonuses. Boynton earned $712,944.

By May 31, 2020—the end of the fiscal year—BC’s endowment was $2,579,462,000, up $105,333,000 from the previous year. The University’s endowment has grown by $383,795,000 over the last five fiscal years.

BC paid the Jesuit community on campus $4,678,630 for “instructional, administrative and institutional services, which include the services rendered by the university’s Jesuit officers,” according to the 990. The compensation for major Jesuit administration figures, including University President Rev. William P. Leahy, S.J. and Vice President and University Secretary Rev. Casey Beaumier, S.J., is included in that amount.

According to publicly disclosed lobbying reports, BC paid $200,000 to Cassidy and Associates—a lobbying agency. The University paid the agency to “assist management in the identification, development, and presentation of institutional initiatives for consideration by committees of Congress, federal regulatory agencies, and others,” the 990 said.

During FY20, BC received $225,038,278 in donations, according to the 990. This is an increase from the $159,699,817 it received in FY19. Over the past five years, the University has received a total of $898,671,969 in grants, gifts, and contributions.

BC also received noncash contributions worth $1,847,227 in works of art and $78,929 in books and publications. Both amounts were determined by the opinion of experts, according to the 990. 

The University donated $100,271 to the Glorious Orphanage Corporation and $75,000 to the Allston Brighton Community Fund in FY20. BC also donated $60,000 to Allston Village Main Streets, $42,846 to Artists for Humanity, Inc., $24,999 to the Boston Educational Development Foundation, Inc., $100,000 to Brighton Marine Health Center, Inc., and $30,200 to Rural Water Ventures, Inc.

BC’s scholarship numbers slightly decreased after a rise in previous years. In FY20, the University gave out $34,437,000 in scholarships—a $575,000 decrease from the $35,048,000 BC gave out the previous year.

Featured Graphic by Eamon Laughlin / Heights Editor

June 15, 2021
RECENT COMMENTS
FlICKR GALLERY
THEMEVAN

We are addicted to WordPress development and provide Easy to using & Shine Looking themes selling on ThemeForest.

Tel : (000) 456-7890
Email : [email protected]
Address : NO 86 XX ROAD, XCITY, XCOUNTRY.