2010 was a good year to be a member of the Cleveland Clinic Millionaires’ Club – although what year isn’t?
The 13 Clinic employees who received more than $1 million in compensation the prior year did it again in 2010. But the club added two new members: John Petre, the Clinic’s director of clinical space and equipment integration, and Dr. Teresa Ruch, a neurosurgeon. Along with former COO David Strand, Petre becomes just the second member of the $1 million-plus club who doesn’t hold a medical degree.
CEO Dr. Toby Cosgrove was again the Clinic’s highest-paid employee, at more than $2.3 million. Cosgrove’s 8 percent raise in 2010 trailed the 11 percent compensation increase he received the prior year.
Most of the other top earners are department heads or chairs of the Clinic’s various institutes. Five of the 15 millionaires appear to be no longer employed by the Clinic.
Cleveland Clinic spokeswoman Eileen Sheil declined to answer specific questions about Clinic employees’ compensation and related documents. “Our executives are compensated fairly given the size and scope of our organization,” she said.
The compensation information comes from the Clinic’s most recent 990, a document most tax-exempt nonprofits are required to file each year with the Internal Revenue Service. (Go to page 98 for compensation information.) The Clinic deserves credit for posting the document on its website, something most of its top-hospital peers choose not to do.
The Clinic’s system-wide revenues for 2010 grew a healthy 9 percent to $6.2 billion. However, revenues less expenses – which would be considered profits if the Clinic were a for-profit organization – declined by less than a percentage point to $361 million.
Below are the 15 employees listed in the Clinic’s 990 whose total compensation exceeded $1 million in 2010. Note that total compensation includes base salary, bonuses, retirement and other deferred compensation and nontaxable benefits, according to the document. For biographical information on members of the Millionaires’ Club, view last year’s edition.
1. Dr. Delos “Toby” Cosgrove, president and CEO, $2.3 million. Last year’s rank: 1.
2. Dr. Bruce Lytle, chair of Heart & Vascular Institute, $1.6 million. Last year’s rank: 2.
3. John Petre, director of clinical space and equipment integration, $1.4 million.
4. Dr. Constantine Mavroudis, former chair of Department of Pediatric and Congenital Heart Surgery, $1.4 million. Last year’s rank: 3.
5. David Strand, former chief operating officer, $1.3 million. Last year’s rank: 6.
6. Dr. Andrew Fishleder, former CEO of Cleveland Clinic Abu Dhabi and former chairman of the Clinic’s Education Institute, $1.2 million. Last year’s rank: 9.
7. Dr. John Costin, chair of Cleveland Clinic Lorain,$1.2 million. Last year’s rank: 8.
8. Dr. Victor Fazio, former chair of Department of Colorectal Surgery, $1.2 million. Last year’s rank: 4.
9. Dr. Joseph Hahn, chief of staff, $1.2 million. Last year’s rank: 7.
10. Dr. Abdul Itani, Department of Neurological Surgery, $1.2 million. Last year”s rank: 11.
11. Dr. Philip Schauer, director of Bariatric and Metabolic Institute, $1.2 million. Last year’s rank: 5.
12. Dr. Daniel Martin, chair of Eye Institute, $1.2 million. Last year’s rank: 10.
13. Dr. Teresa Ruch, Department of Neurological Surgery, $1.1 million.
14. Dr. David Perse, former president of Lutheran Hospital, $1 million. Last year’s rank: 12.
15. Dr. Richard Wyszynski, Department of Ophthalmology, $1 million. Last year’s rank: 13.