In the Feb. 15 issue of the Voice, several monetary figures were misrepresented in the article “President Cornwell among highest paid in Ohio.” The article states that Cornwell’s take home pay in the 2009-10 financial year was $469,523 and the 2010-11 financial year was $633,430. These two figures actually represented his total compensation, which is reported before taxes and includes benefits and other allocations. The president does not and has never received bonuses. The article goes on to state a $10 million net profit for the College in 2009-10, and a reported $4.6 million deficit in 2010-11. These numbers include the College’s endowment and reflect the status of the stock market. The College is a non-profit institution. The article states that “only one private school in Ohio has a lower average salary for faculty members.” This figure is inaccurate and will be addressed in a follow-up article, to be published next week. The numbers printed regarding the breakdown of Cornwell’s salary amenities were misattributed. In 2010-11, his benefits included $4,122 in country club expenses, $6,505 in housekeeping and $432 for cable. The Voice will be publishing a corrections article in next week’s issue to address these numbers in greater detail, along with further finanical questions our staff will discuss with the administrators. The Voice regrets these errors.
