"Elsey, a former longtime footwear executive, is also chairman of the organization's board, a set-up that some non-profit experts contend can be problematic because it could undermine the board's independence."
And here I was, thinking that someone had a big ol heart and actually cared about those experiencing homelessness. Money makes the world go round...
Soles4Souls leader highly compensated
Published: Dec. 20, 2009 at 2:31 PMNASHVILLE, Dec. 20 (UPI) -- The leader of a Nashville shoe charity is paid as much as executives of many national non-profits with larger revenues, public records and interviews indicate.
Wayne Elsey, who has quickly built Soles4Souls into a national brand, has been paid approximately $1.2 million in just over three years since the charity was officially given non-profit tax-exempt status by the Internal Revenue Service, The (Nashville) Tennessean reported Sunday.
It said its probe revealed that Elsey, a former longtime footwear executive, is also chairman of the organization's board, a set-up that some non-profit experts contend can be problematic because it could undermine the board's independence. The newspaper also said an analysis it performed showed Elsey's compensation was far higher than leaders of 12 charities with similar missions and budgets.
Connie Elder, a non-staff Soles4Souls board member, defended Elsey's pay, saying, "The skill set it would take to do what is being done here is pretty phenomenal. The skill set it would take to do what is being done here would have to come from the for-profit."
Elsey told the Tennessean there's no problem with his compensation, saying, "My board has rewarded me for performance, and I think they will continue to do that."
Wayne Elsey, who has quickly built Soles4Souls into a national brand, has been paid approximately $1.2 million in just over three years since the charity was officially given non-profit tax-exempt status by the Internal Revenue Service, The (Nashville) Tennessean reported Sunday.
It said its probe revealed that Elsey, a former longtime footwear executive, is also chairman of the organization's board, a set-up that some non-profit experts contend can be problematic because it could undermine the board's independence. The newspaper also said an analysis it performed showed Elsey's compensation was far higher than leaders of 12 charities with similar missions and budgets.
Connie Elder, a non-staff Soles4Souls board member, defended Elsey's pay, saying, "The skill set it would take to do what is being done here is pretty phenomenal. The skill set it would take to do what is being done here would have to come from the for-profit."
Elsey told the Tennessean there's no problem with his compensation, saying, "My board has rewarded me for performance, and I think they will continue to do that."
