Phi Theta Kappa Scam & Scandal and then she spoke up!
This page is meant to provide not only transparency, but also give more insight into the financial resources Dr. Rod Risley is paid and has at his command.
Questions about the use of funds must be answered, because according to the Form 990 Return for 2012 (on the right), Michael H. Watson was paid $156,960. Mr. Watson did not have any affiliation with Phi Theta Kappa after 2006.
Why was Mr. Watson paid such a large amount of money, 6 years after he dissociated himself from Phi Theta Kappa?
Has Phi Theta Kappa paid other victims and former employees large sums of money, in return for a signed non-disclosure agreement or their silence, and if so, why?
Membership dues, registration fees, PTK Store sales, and donations to the Phi Theta Kappa Foundation are the major source of revenue for the organization. This money is meant for one purpose only: "to recognize and encourage scholarship among two-year college students."
In the event that settlements were paid, every single dollar that has been paid to keep someone quiet was either from a student or for a student, and this is appalling.
The figure above compares four honor societies and their Form 990 financial information with Phi Theta Kappa's. Specifically, the figure illustrates the difference between executive compensation among the comparable organizations.
The Miami Dade Foundation is included because their revenue and expenses are similar to that of Phi Theta Kappa's, yet their executive compensation is 7 times lower.
Non-Profit Executive Director Salary Information
In 2012, Bloomberg Business reported that the normal CEO compensation is a "low six-figure compensation, a median of $130,000 to $140,000 for midsize to large nonprofits."
Early last year, the NonProfit Times, reported that nonprofit CEO figures for 2014 were:
Median Nonprofit Executive salary: $100,000
Maximum Nonprofit Executive salary: $666,266
Average tenure for a nonprofit CEO: 12 years
To put Dr. Risley's compensation in perspective, Michael McCall, president of the Kentucky Community and Technical College System, received $669,463 in total compensation in fiscal 2013. This made McCall the highest paid community college president in the U.S., and placed McCall at the No. 35 spot on the pay list for all college presidents (2 year and 4 year) across the nation.
Financial Information Source: