Pepperdine’s 990’s show a decrease in revenue and assets and an increase in expenses.
By Sarah Carillo
Assistant News Editor
Pepperdine’s highest paid administrator is Chancellor Charles B. Runnels, according to the recently released 990 tax forms. Runnels makes $304,946, with an additional $28,300 toward his benefit plan and is the only administrator to earn more than $300,000.
“Charlie Runnels has been Pepperdine’s pre-eminent friend- and fund-raiser for more than 30 years,” President Andrew K. Benton said in an e-mail interview. “I do not believe we would have the resources, the scholarships, the buildings or the endowment that we enjoy today if he had not dedicated his career to our university.
“He is still the most productive member of our advancement team and, amidst everything else he does, he is mentor, conscience and example for those of us who serve with him.”
Benton’s annual salary for the 2001-2002 fiscal year was $284,433, with an additional $28,881 in contributions to his benefit plan. The average salary for the president of a private doctoral-research university in 2001 was $356,092, according to the Chronicle of Higher Education’s annual review. Richardson Lynn, dean of the School of Law, makes $204,110, which is close to the national average of $209,153. However, Lynn also received $36,782 for his benefit plan, which makes his total compensation $240,000.
Charles J. Pippin, vice president of finance and administration, makes $203,239 with $27,275 for his benefit plan. Pippin’s job title is unique to Pepperdine and is not listed in the national averages.
The national average salary for general counsel is $141,251. Gary Hanson, Pepperdine’s Vice President and General Counsel, makes $200,195.
Until two years ago, Pepperdine claimed an exemption from filing 990 forms, but has since filed and made them available to the public. Pepperdine was one of only six schools to claim this exemption on the grounds of the school being a religious institution and had not filed since the mid-1980s.
GuideStar, a nonprofit Web site that makes 990 forms of various nonprofit organizations available, said on its site that the forms are most useful when looked at over a number of years. This enables people to see how the organization has grown and changed through the years.
This is the first year Pepperdine has had forms to compare, but there have been some changes for the school.
Pepperdine’s finances are one example of change. The Graphic reported in September 2002 that Pepperdine’s revenue was $288,441,920. The last fiscal year’s revenue was only $236,865,748. Last year’s net assets were $711,884,648 and this year’s were $673,620,159. Despite smaller revenues and assets, Pepperdine’s expenses have increased from $216,441,920 last year to $230,148,829. However, this data is only from the past two years and may not reflect a trend for Pepperdine.
The forms also show housing loans Pepperdine has made to faculty.
The 990 forms do not list employees in the athletic department. However the national average for the director of athletics is $138,125.
September 18, 2003