Northwestern University paid former men's basketball coach Bill Carmody $1.65 million and current men's basketball coach Chris Collins $948,439 in the tax year beginning September 1, 2013 and ending August 31, 2014, the university's 2013-14 Form 990 reveals.
Carmody, who was fired on March 16, 2013, was paid $189,120 in base compensation and $1.41 million in "other compensation." The payments are likely related to the termination of Carmody's contract, which had one year remaining on it.
Collins, who was hired on March 27, 2013, was paid $888,588 in base compensation. His initial contract was reported as a 7-year, $10 million deal, but year-by-year details were not known, meaning Northwestern and Collins could have structured the contract to include yearly salary increases over the length of it. Collins and Northwestern have since agreed to a new contract.
The Form 990 also reveals that Pat Fitzgerald was paid $2.49 million by the university over the same year-long period. Fitzgerald's pay includes $1.97 million in base compensation and a $200,000 bonus. In 2012-13, Northwestern paid Fitzgerald $2.48 million in total.
The university's loan to Fitzgerald, which we explored last summer, remains listed on the 2013-14 form, meaning it had not been paid off at the time the form was filed. Of the two loans to athletic director Jim Phillips listed on the 2012-13 form, one remains on the 2013-14 document. The original principal amount of the loan, which is listed as a "compensation package," is $1.1 million, and the balance due is $966,667.
Fitzgerald was the university's second-highest paid employee in 2013-14, after Vice President and Chief Investment Officer William McLean. McLean was paid $3.60 million, including $1.1 million in deferred compensation.
Phillips was paid $1.36 million in total, but only $559,330 in base compensation. School president Morton "Morty" Schapiro was paid $1.45 million, including $883,747 in base compensation and $233,833 in deferred compensation.