Elon University’s financial forms reveal that President Leo Lambert annually earns significantly less than nearby schools’ presidents. Other records show a large amount of investments in construction projects.

Every year, Elon and other tax-excluded organizations must release a tax form to the IRS by May in order to maintain that status. These forms, called 990s, have to be published every year and must remain available to the public for the following three years. Elon’s 2014 forms — the most recent available — revealed that Elon spent almost $19.4 million that year. It also showed that Lambert earned less than half than his Duke University counterpart, according to Duke’s 2013 forms.

Lambert earned almost $534,000 and close to an additional $40,000 in compensation. According to the Worker’s Compensation Act, compensation means, “the money allowance payable to an employee or to his dependents,” such as bonuses and benefits. By comparison, Duke’s president made close to $1.1 million, plus an additional $194,000. High Point University’s president made $2.9 million and additional compensation close to $285,000 in 2013, even though High Point is two-thirds the size of Elon’s with 4,000 undergraduate students. 

Senior Josh Langel, president of Sigma Iota Epsilon, a business fraternity on campus, looked at the 990 forms and said the disparity between the university presidents’ salaries was interesting to him.

“Compared to High Point, which was over $2 million, I was a little bit — I would almost say — pissed off,” Langel said. “I feel like Leo should definitely be paid more.”

Rich Skrosky, Elon’s head football coach, made just under $300,000 before additional income, which totaled around $26,000. Duke’s basketball coach made upward of $6 million with additional compensation nearing $1.3 million. In total, Elon generated almost $282 million in revenue. Its costs exceeded $247 million. The surplus after these expenses totaled close to $35 million.

Elon paid Aramark, the school’s food service, more than $14.3 million. Elon also paid almost $5.2 million in fundraising expenses, $26.2 million in management and general expenses and more than $216.1 million in program services expenses. 

After seeing an outline of the school’s expenses, Langel said he has a better understanding of where his tuition money is going.

“You’re paying $40,000 a year for four years,” Langel said. “It adds up fast. I think people should know where it’s going in the long run.”