Sunday, December 10, 2017

Savannah College of Art and Design "gives [its president] a salary and a lifestyle unheard of in higher education"

Between 2011 and 2015, the school paid her $19.9 million in salary and other compensation. During the same five years, Harvard University paid its president less than one-third as much. Wallace’s pay spiked to $9.6 million in 2014 - more than any other president of a nonprofit or public university in the United States. She made $2.1 million in the 2016 fiscal year.

In its tax returns, SCAD says performance reviews and a consultant’s recommendations justify Wallace’s compensation. But the benefits don’t stop with her paycheck. SCAD provides her with a restored 19th-century house in Savannah, pays her an allowance for a home in Atlanta and maintains a residence that she uses in the Provence region of southern France. Wallace travels on SCAD’s private jet or, when she takes commercial flights, in business class. To help Wallace focus on work, SCAD’s board decided in 2011 to pay for an assistant to manage her personal affairs.

For Wallace, the personal and the professional are barely distinguishable.

Wallace and 13 members of her family have worked at SCAD during the past 20 years, with combined earnings of $60 million. Wallace made millions more through a real-estate transaction involving SCAD.