Brooklyn Academy of Music Helped Buy Its Boss a New Home. She Left in Under 6 Years with the home.
BAM Helped Buy Its Boss a New Home. She Left in Under 6 Years.
Some cultural institutions own apartments for their leaders to use. The Brooklyn Academy of Music decided to help its last leader buy one with a bonus of $968,000.
-----------------------------
One of the perks of leading premier cultural institutions, besides the substantial salaries, is the use of elegant apartments, which are often owned by arts organizations and passed from one top executive to the next.
But the Brooklyn Academy of Music took it a step further in 2015 when Katy Clark became its president. The organization gave its new leader nearly half the purchase price of a $1.9 million, three-bedroom prewar home overlooking Prospect Park that she could call her own.
The unusual one-time housing bonus of $968,000 came on top of her new starting salary of $355,000, which was a considerable boost from the roughly $200,000 she had been making in her prior job.
Now, after just five years in the post, Clark left BAM in January for a lower-profile job at a foundation — and the apartment has gone with her, leading to questions about the fiscal prudence of such an outlay to lure a leader whose tenure wound up being much shorter than her predecessor’s.
-------------
“While there are instances where a board will loan an executive funds to purchase a home when they must move to a new city, it is highly unusual for these funds to be a signing bonus that the executive is allowed to keep,” he said. “It is a lovely gesture to welcome a new leader so generously but it may send signals to donors that the organization has resources to spare.”
https://www.nytimes.com/2021/03/04/arts/design/brooklyn-academy-of-music-apartment.html?action=click&module=News&pgtype=Homepage
= new reply since forum marked as read
The apartment went with her? It moved? 
