We’ve been reporting on The Red & Black Publisher Harry Montevideo’s salary as part of our coverage of the walk-out by student editors earlier this week. His salary offers context into how the paper is doing financially, as well as giving insight into how the paper is being operated by its independently incorporated board of directors. (Montevideo’s an ex officio member of the board, meaning he doesn’t vote on this matter or others.)

We’ve reported the salary the board reported to the IRS on its Form 990 for the fiscal year that ended May 31, 2011. That’s the most recent report available, and says that Montevideo was paid $189,545 in both salary and other compensation.

Saturday morning in a post on an alumni Facebook group, Montevideo announced that at the board’s last meeting in early August, he offered to take a pay cut that brings his base salary to $90,000.

“In light of declining revenues over the past five years, I felt this was prudent and fair to both parties,” Montevideo said in the post. “It is aligned with what others in similar college media operations, with similar length of service are being paid.”

Montevideo also wrote that the salaries reported to the IRS for the 2008, 2009 and 2010 fiscal years don’t reflect what he was actually paid in those years due to delays in compensation.

His new $90,000 base salary is comparable with those paid to general managers or publishers who run some of the nation’s other independent student newspapers.

For context, here’s what a few other papers paid their top executives in salary and additional compensation, current as of their most recent IRS Form 990 filings:

Editor’s note, Aug. 19: We’ve removed the names of the general managers at each paper that were listed in the original report. That information is available on the Form 990s we linked to, for those who are interested in more details.

  1. eligible for a 25 percent annual bonus? That’s a Wall Street hedgefund/banker bonus. But a nonprofit?

  2. Nicholas Eckert says:

    Judging by the paycut, he looked up the same numbers you did. He and the Diamondback were the only two papers in that set with a required Schedule J filing.

    While a more in-depth review of compensation in this category may be warranted for a more realistic determination, I would be asking for comments from whatever Maryland’s paper calls their advisory board. Looking at their filing, he’s making just shy of $200k in base compensation alone, whereas the previous year he was making 91k+; the latter number is more in line, and a reason for the jump in pay has to be out there.

  3. Barry Hollander says:

    If you follow the rough rule of thumb that the CEO should make about 10 percent of the revenue on a smallish non-profit, then Montevideo’s reported budget is a bit high. There’s a margin of error, of course, depending on the nature of the non-profit, but $189K was too much. And I don’t want to even get started about someone making $261,256. Please tell me that’s a typo.