Windfall for Joint Commission
Net income up 170%; consulting arm’s income dives
Amid a struggling economy, net income at the Joint Commission was up considerably in 2009, while income at the affiliated Joint Commission Resources plummeted.
The Joint Commission, an Oakbrook Terrace, Ill.-based accreditation organization, saw its net income spike more than 170%, to $9.8 million last year from $3.6 million in 2008, according to its Internal Revenue Service Form 990 for 2009, filed late last month.
That growth in net income was fueled by more than $2 million in grants and contributions in 2009, as compared with zero reported in 2008, according to the tax document. Also, the Joint Commission’s reported fundraising expenses dropped more than $4 million, to $33.7 million from $37.8 million in 2008.
Overall revenue rose about 3% to $123.4 million from $120.1 million.
Joint Commission officials were unavail- able for comment at deadline.
Total compensation for Joint Commission President and CEO Mark Chassin fell 15%, to $978,746 in 2009 from $1,153,356 in 2008.
Compensation for other top employees in 2009 included $990,831 paid to Lynn Dragisic, vice president; $762,174 paid to Paul Schyve, senior vice president; $658,885 paid to Ann Scott Blouin, executive vice president; $651,118 paid to George Morris, vice president; and $501,258 paid to Paige Rodgers, chief financial officer. In addition, the accreditation organization reported $353,496 in compensation for its retired president and CEO, Dennis O’Leary.
Joint Commission Resources, the education and consulting arm of the Joint Commission, reported a 70% decrease in net income, to $692,540 in 2009 from $2.3 million in 2008, a change that came about as a result of lower contributions and grants, program service revenue and investment income, according to the tax form. JCR’s yearly revenue fell to $43,662,042 in 2009, down more than 15% from $51,601,446 the previous year.
Total compensation for Karen Timmons, former president and CEO of JCR and Joint Commission International, rose to $3,290,646 in 2009 from $1,005,547 in 2008. Timmons left the organization in July, after holding the top spot for more than a decade.
Compensation for other top employees at JCR included $608,676 paid to David Jaimovich, chief medical officer; $318,582 paid to Jean Courtney, chief financial officer and chief of staff; and $291,446 paid to Anne Rooney, vice president of consulting services.
Chassin, left, saw his compensation fall 15% in 2009, while Timmons’ total compensation rose to $3,290,646 from $1,005,547.