Why do you read EphBlog? Perhaps because only EphBlog brings you the juicy news contained in Williams’ filings with the IRS. Here is the latest Form 990. Comments:

1) Previous discussion here. Note also this handy summary in Willipedia. (I can no longer edit Willipedia. Perhaps someone could upload this latest form and then update the Willipedia entry accordingly. Future historians will thank you!)

2) I half-heartedly tried to get pre-1998 copies of Form 990 from the College a few years ago. I was told that they were not available. True? I have my doubts. Bureaucracies keep things. The College had to file this form with the IRS in 1997, 1996 and so on. Were all copies destroyed? Finding out and poking around through old data would make for an interesting Record article.

3) Too lazy to open up the 25 page pdf and look for the good stuff? I am here to help. The best paid professors are listed on page 7:

George Goethals $208,000
Jay Pasachoff $207,000
Jean-Bernard Bucky $206,000
Charles Dew ’58 $179,000
Richard Stamelman $173,000

Professor Goethals is no longer at Williams, but has often been one of the highest paid profs. In the 1999 form (pdf), his total pay is $177,000. Does the increase over the last 6 years provides a good estimate of the standard raises that Williams has given to all its faculty, i.e., that Goethals did not get any special salary increases in this time? Perhaps. That would suggest that the annual salary increase has been about 2.8% per year, which seems too low.

4) The two biggest investment firms listed among the highest paid outside contractors are John W. Bristol and Hintz, Holman & Heckscher. Does anyone know much about these firms? What do they do for the College? I am perplexed. The College appears to pay them $2 million in total. That seems like an absurdly small amount. One guess is that they don’t do much for Williams (run index-like funds?) and, therefore, get the market wage. Another is that they are actually paid much more but since the money comes directly from the endowment, the College does not report it. That seems sleazy and, therefore, unlikely.

5) Morty’s salary and benefits are $479,000, up from $354,000 his first year. Was Morty 35% more productive/efficient in 2005 compared to 2001? Perhaps! At this rate of growth, the Williams President will be earning $1,000,000 in 2019. What would President Jack Sawyer ’39 say? Classic rant here — one of my all-time favorite posts.

6) What interesting items do you see in the rest of the form?

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