Wednesday, February 5, 2014

Meritus Presidents, VPs, Directors Compensation Total of Over $4.2 Million in 2011

Part of Meritus' 2011 Form 990
Source: Foundation Center
Hagerstown, MD - It was recently reported that Meritus Health is laying off 60 workers and cutting the hours of an additional 43 workers. According to WHAG, Meritus will be terminating the employment of workers through February 15. These cuts are estimated to save Meritus approximately $6 Million.

Noticeably absent from the article is any mention if the President, Vice Presidents, Officers, or other key staff have voluntarily reduced their pay, so it is unknown if any senior level paycuts were implemented.

By looking at the most recent IRS Form 990 available for Meritus at the Foundation Center, it is revealed that the Presidents', Vice Presidents', and Directors' compensation combined equal a sum greater than $4.2 million dollars in 2011.

When combining the compensation of James Hamill, the former President/CEO, with the compensation of Joseph Ross, the current President/CEO, Meritus and related organizations paid to its President a total compensation of $981,711.

The total compensation of Vice Presidents, including former Vice President Michael Zampelli, in 2011 was $2,345,731.

The directors* of Meritus who are paid (not all of the directors are compensated) totals to $958,041.
Breakdown of Compensation in Meritus' 2011 Form 990
Source: Foundation Center

The grand total for Meritus' senior staff who are a President, Vice President, or Director* for 2011 was $4,285,483.

Also of interest is that the IRS Form 990 states that in 2011 Meritus employed 152 individuals who were compensated $100,000 or more per year.

For anyone who would like to verify these calculations, a spreadsheet outlining the pay of each senior staff member is available here.

Original IRS form 990's for Meritus can be accessed below.
2009 Form 990
2011 Form 990

*Note: Per the Form 990, the salary & benefits that Dr Gilbert received are for his services as a physician & not as a director. Dr Gilbert was compensated a total of $852,870 in 2011.