Soles4Souls helps millions while enriching its leader (CEO sits on board that sets pay)

[Ghost in the Machine]

By Brad Schrade and Andy Humbles • THE TENNESSEAN • December 20, 2009

In just five years, Soles4Souls CEO Wayne Elsey has built the Nashville-based shoe charity into a national brand that courts movie stars, entertainers and pro athletes to help spread its altruistic message: Changing the world one pair at a time.


Soles4Souls says it has helped give away more than 6 million pairs of shoes in 125 countries or, as Elsey likes to boast, one pair every nine seconds.


The charity's marketing machine is in high gear this holiday season, with more than 500 shoe collection sites in the Nashville area, billboards asking for $5 donations with images of needy children, and a radio ad campaign.


But there's an aspect to Elsey and his charity that doesn't make it into the marketing materials. Giving away shoes is a lucrative business venture for him and other top people in the organization. And it provides the shoe industry a potentially valuable way to get rid of excess stock through tax write-offs.


Elsey, who spent nearly three decades in the footwear industry, has been paid approximately $1.2 million in just over three years since the charity was officially given nonprofit tax-exempt status by the IRS, according to public records and interviews. It makes him one of the highest-paid social-service charity executives in Middle Tennessee, and his compensation rivals those of executives at many national charities with larger revenues.

http://www.tennessean.com/article/20091220/NEWS01/912200372/Soles4Souls-helps-millions-while-enriching-its-leader

[BrklynLiberal]

1. Day-amm!!!

[rd_kent]

2. Sounds like a win-win.

[msongs]

3. non-profit = spend all the money on itself/management so no $$ left over nt