News Summary
Crain’s latest report unveils significant salary increases among top nonprofit executives in New York City. Leading the pack is Karen Ignani from EmblemHealth, with earnings surpassing $5.5 million. Overall, the report highlights a trend in rising compensation in the nonprofit sector, with notable figures like Patricia J. Wang and Eric Doppstadt following closely behind. This growth reflects a broader movement towards higher salaries among sector leaders, emphasizing the evolving financial landscape within nonprofits.
New York City has revealed the financial landscape of the nonprofit sector with Crain’s latest report detailing the highest-paid nonprofit executives in the area. The report indicates that top earners in the nonprofit world are seeing significant increases in compensation, suggesting a trend towards higher salaries in this sector.
Leading the list for 2023 is Karen Ignani, the executive board chair and former CEO of EmblemHealth, who has earned an impressive $5,595,912. This amount reflects a nearly 11% increase from her earnings of $5,045,764 in the previous year. Although she has transitioned from her CEO role, Ignani continues to play a crucial role at EmblemHealth, an organization that provides coverage to more than 3 million New Yorkers, including a significant number of Medicaid beneficiaries.
Before her tenure at EmblemHealth, Ignani served as an insurance lobbyist and was influential in the development of the Affordable Care Act. She has been consistently recognized as one of the most powerful women in New York due to her impact on health policy and the nonprofit sector.
Following Ignani on the compensation list is Patricia J. Wang, the CEO and president of Healthfirst, who earned $4,821,959 in 2024. This was closely followed by Eric Doppstadt, Chief Investment Officer at The Ford Foundation, whose total earnings were $4,664,482. The fourth position is held by Michael Palmateer, the new CEO of EmblemHealth, who joined in January 2023 and earned $3,612,372, an increase of about $700,000 from his previous compensation. Rounding out the top five is Thomas McGee, president and CEO of the International Council of Shopping Centers, with total pay of $3,605,439.
This year’s findings show a notable escalation in compensation structures for nonprofit executives, reflecting a growing earning potential at the top of the nonprofit sector. Notably, while these figures are substantial, they still trail those of leaders in the for-profit sector.
The methodology behind Crain’s analysis centers on the most current data accessible from the nonprofits’ 990 forms, largely concerning the 2023 fiscal year. It is worth noting that comprehensive tracking of executive pay in real time remains elusive. The total compensation amounts reported include base pay, bonuses, incentives, and any other reported income.
In a broader context, the analysis highlights that the median pay among top nonprofit leaders has surged 40%, increasing from $1.6 million in 2021 to $2.2 million in 2022. It is noteworthy that Crain’s analysis explicitly excludes leaders of hospitals and schools to provide a clearer view of compensation trends in the nonprofit sector.
The dominance of EmblemHealth in this year’s list is underscored by the fact that three of its executives made the cut, averaging a compensation package of $3.4 million. Moreover, themes discussed at New York Nonprofit Media’s 2025 BoardCon panel included collaboration and engagement between nonprofit boards and executive leadership, alongside the significance of clear division of responsibilities and awareness of potential conflicts of interest as fundamental components of effective governance.
Panelists also elaborated on the necessity for financial oversight and specialized training for senior leadership, emphasizing that these measures are essential for enhancing employee engagement and ensuring operational transparency within the organization.
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Additional Resources
- Crain’s New York: Highest Paid Nonprofit CEOs and Executives
- City & State NY: How NY Nonprofits Are Regrouping
- Crain’s New York: New York’s Highest Paid Nonprofit Leaders List
- Politico: EmblemHealth Union Donation Health Insurance
- Wikipedia: Nonprofit Organization
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