Emory University paid University President and incoming Chancellor Gregory Fenves over $2.4 million in tax year 2023, which spanned from Sept. 1, 2023 to Aug. 31, 2024. Fenves earned a $1,412,520 base salary and $309,096 in bonus pay, with a total compensation of $2,425,941, according to the University’s financial disclosure report.
501(c)(3) nonprofit organizations are required to file Internal Revenue Service Form 990 every year, disclosing information about their financial details and the annual salary of their key officers, which for Emory includes Fenves. Emory filed Forms 990 and 990-T, using the latter to report unrelated business income.
Fenves’ salary is 14.6% higher than the average of presidents at peer institutions. The average peer institution president's salary is $2,116,841. Fenves’ pay rose 8.02% from the previous fiscal year’s total compensation of $2,245,851.
On the lower end of peer compensation, the president of Duke University (N.C.) made over $1.81 million in total compensation and the president of Georgetown University (D.C.) made around $1.6 million, both in fiscal year 2023. The two highest earning peer presidents made $3.6 million at Johns Hopkins University (Md.) and $2.8 million at Vanderbilt University (Tenn.).
Ravi Thandani, former executive vice president for health affairs and vice chair of the Emory Healthcare Board of Directors, was the University’s highest-paid employee, with a total compensation of $5,120,802.
Notably, Emory also paid over $2.6 million in retention bonuses to certain executives in tax year 2023. The University has faced consistent turnover in its top ranks, with numerous executives announcing their departure over the past year.
The University’s main source of income was from healthcare-related activities, topping over $4 billion in revenue. Emory netted over $280 million from its endowment revenues, a 14.29% increase from last year’s total of $245 million.
Jack Rutherford (he/him) (27C) is a managing editor at The Emory Wheel. He is from Louisville, Ky., majoring in economics on the pre-law track. When not working for the Wheel, he can normally be found rowing with Emory Crew, where he serves as president, or at an Atlanta Opera performance. In his free time, Rutherford enjoys listening to music and walking in Lullwater.
