Bill > S986

This bill aims to regulate the compensation of executives and board members of public charities in Massachusetts. It sets an annual compensation cap of $500,000 for officers, executive directors, and senior managers of public charities with annual gross revenues exceeding $1 million. The bill also prohibits public charities from compensating members of their board of directors or trustees, although reimbursement for expenses related to their duties is allowed. The bill provides a waiver process, overseen by a commission comprising the Secretary of the Commonwealth, Inspector General, and Attorney General, for public charities seeking to exceed the compensation caps. The waiver process requires an independent audit and public hearing. Public charities found in violation of the compensation limits and without a valid waiver would lose their status as a public charity.

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https://malegislature.gov/Bills/191/S986