Not for profit- but highly profitable for faculty and administrators

Universities Pile on Faculty Perks as Student Costs Grow - Bloomberg: "Exit bonuses are becoming more common among senior executives at large colleges in major cities, said Stephen Joel Trachtenberg, a former president of George Washington University who does executive-pay consulting.
Typically, such “super severance” amounts to one to three times an administrator’s annual salary and bonus, according to Charles Skorina, founder and president of an executive-search firm in San Francisco who specializes in placing finance executives at universities.
Especially at universities on the East and West coasts, where real estate expenses and other costs are high, trustees including Wall Street executives are eager to pay their presidents top dollar, Skorina said. They look for ways to pay additional compensation that doesn’t show up in annual surveys that can anger donors and employees, he said.
“You look for sweeteners, the car and driver, the house and then a back-end exit bonus,” said Skorina. “An exit bonus is palatable because until the guy leaves you don’t have to deal with it.”"

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