While it would be wonderful if everyone doing work for Mission: VALOR could donate their time and efforts, the reality is that some paid staff will be required. That said, we hope to keep that number low, as our goal is to not just meet but beat best practices and have our overhead lower than 15 percent of budget.
To that end, the Executive Leadership Committee — and then the Board — agreed that compensation should be based off other comparable charities with the caveat that no matter how large Mission: VALOR comes that no salary will exceed $125,000 a year per the Bylaws. In addition to other research, the following guides were used in setting planned salaries for startup:
· Guidestar salary sample report: http://www.guidestar.org/downloadable-files/2013CompReport-sample.pdf
· List of salary sources, but require $ subscriptions: http://www.bridgespan.org/Publications-and-Tools/Career-Professional-Development/NonprofitCareers/Selected-Compensation-Resources.aspx?gclid=CO3Stdn14LwCFajm7Aod5zoApg#.Uwk3AE2YZu0
· Article about non profit salaries and quality of the candidate:http://www.charitywatch.org/articles/salaries.html
In addition, it was set in the Bylaws that any person holding a position could — as allowed by law — decline that salary completely or accept the sum of $100 for any pay period or combination of pay periods up to one year. The short version is that if the law says they must receive a salary, they can opt to receive $100 for any given pay period or simply accept $100 for the year.
While not yet being paid, the Board has authorized an initial salary of $85,000 for the CEO, $50,000 for the bookkeeper/financial lead, and $75,000 for a COO. These figures are all subject to negotiation so as to obtain the best qualified candidates, and it is hoped that instead of hiring for these and other positions, that Operation Seasoning will secure qualified individuals and help veterans gain experience to further careers with the partner companies.
Mission: VALOR will always be guided in its compensation decisions by the best practices as outlined by services such as Charity Navigator and Guidestar, by comparison to comparable charities, and by law.
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