Israel Caps Executive Pay at Nonprofits
According to Haaretz, “The Finance Ministry’s new criteria for allocating funding to public institutions limit the salaries their CEOs and VPs may receive. This affects nonprofit organizations such as think tanks, social service groups, charities and religious institutions…
Another aim is keeping groups with lots of cash from dipping further into public coffers. Now, institutions with cash reserves equaling at least 100% of their annual revenues cannot receive additional state assistance.”