New York Times on Museum Directors' Apartments
futureofcapitalism.com

The New York Times has a front-page article focusing on three New York museums who provide their directors with housing whose value is not taxable as income under the theory that the apartments are the site of business-related entertaining.

In addition to her $877,000 compensation package, Ellen V. Futter, president of the American Museum of Natural History, lives rent free in a $5 million East Side apartment that the museum bought when she came aboard.

The Metropolitan Museum of Art houses its director, Thomas P. Campbell, in a $4 million co-op that it owns across Fifth Avenue from the museum.

The director of the Museum of Modern Art, Glenn D. Lowry, may have the best deal of all. In addition to the $2 million in salary and benefits he earned last year, he lives in a $6 million condo in the tower atop the museum.

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New York Times on Museum Directors' Apartments
futureofcapitalism.com

The New York Times has a front-page article focusing on three New York museums who provide their directors with housing whose value is not taxable as income under the theory that the apartments are the site of business-related entertaining.

In addition to her $877,000 compensation package, Ellen V. Futter, president of the American Museum of Natural History, lives rent free in a $5 million East Side apartment that the museum bought when she came aboard.

The Metropolitan Museum of Art houses its director, Thomas P. Campbell, in a $4 million co-op that it owns across Fifth Avenue from the museum.

The director of the Museum of Modern Art, Glenn D. Lowry, may have the best deal of all. In addition to the $2 million in salary and benefits he earned last year, he lives in a $6 million condo in the tower atop the museum.

Read More...