MA S1195

Public charities with annual gross revenues exceeding $1,000,000 would be prohibited from paying officers, executive directors, or senior managers more than $500,000 annually in total compensation (including salary, bonuses, incentives, deferred compensation, severance, below-market loans, and vehicle benefits)

Board members of public charities would be prohibited from receiving compensation, though expense reimbursements for board duties would still be permitted

Charities seeking to exceed the $500,000 cap or pay board members must request a waiver hearing before a commission consisting of the Secretary of the Commonwealth, Inspector General, and Attorney General

Waivers require the charity to hire an independent auditor at its own expense, demonstrate good cause, and receive commission approval within 30 days of the hearing; granted waivers are valid for 5 years

Violations without an approved waiver result in loss of public charity status under Massachusetts law