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Exorbitant Salaries

Published on May 25th, 2020

The NY Post recently ran an investigative report into the salaries of executives running “Nonprofit” nursing homes. It is well known these nursing homes were not equipped to handle an increase of residents, especially ones recovering from coronavirus. The salaries and benefits are outrageous.

Approximately two-thirds of nursing homes in the United States are operated by private, for-profit firms, while another 25 percent are owned by not-for-profits and 10 percent are operated by the government, according to the AGS foundation. These groups may lend their name to the nursing home, while actual day-to-day management is done by a for-profit related company.

The NY Post reported: The heads of five homes had pay packages that neared $1 million or topped it, according to a review of 2018 tax filings for the facilities, the latest available. The publication zeroed on Daniel Reingold, the CEO of the Hebrew Home in Riverdale. He is the highest paid CEO of a nonprofit nursing home in the city Reingold took in: $1.5 million including a salary of $833,930, a bonus of $197,910 and “other compensation” of $412,947, making him the highest-paid administrator of the city’s nonprofit facilities.

25 virus deaths have been tied to Hebrew Home.

The Post also pointed out: Scott LaRue, who heads ArchCare, the Archdiocese of New York’s nursing home network, had a compensation package worth $1.47 million including a salary of $829,452, a $222,834 bonus and retirement payout of $109,591. His salary was 13% higher than the previous year.

They also reported: Alexander Balko, who heads the Metropolitan Jewish Health System, got a $1 million salary and a bonus of $200,000, plus $66,877 in other compensation and $124,000 in deferred compensation and other unspecified benefits.

The salary and benefits for Michael Rosenblut, president of the Parker Jewish Institute in Queens, came to $1.2 million in 2018.

The state said 53 residents of the 527-bed home had died of COVID-19.

 

 

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