The National September 11 Memorial and Museum in New York City reported a significant operating loss of $19 million for the fiscal year 2024. Despite this financial shortfall, the nonprofit organization allocated over $850,000 in compensation to its top executive, raising concerns about the management of public funds.
Established in 2011 at the site of the former Twin Towers, the memorial received $4 million from the National Park Service to support its ongoing operations, maintenance, and security. Critics suggest that these public funds could have been utilized more effectively if the organization did not have such high salary expenditures.
Elizabeth Hillman, President and CEO of the memorial, earned a total compensation of $856,216, which includes salary, deferred compensation, and other benefits. This figure notably surpasses the $502,999 compensation of her predecessor, Alice Greenwald. Other high-ranking officials, including Joshua Cherwin, the Advancement and Communications Officer, received $486,298, while General Counsel Noelle Lilien earned $451,880. The CFO, David Sheehan, was compensated $432,958, and several other executives made over $400,000.
The financial details were first reported by the New York Post and later verified by auditors from OpenTheBooks using the nonprofit’s IRS Form 990. In addition to federal funding, the memorial accepted $500,000 from New York state and a small amount from New York City. Despite this assistance, the nonprofit generated $69 million in revenue from visitor admissions last year, with adult tickets to the museum costing $36 and tours priced at $85.
Financial obligations also include a $7 million rent payment to the Port Authority of New York and New Jersey. Notably, the memorial does not pay for security services from the Port Authority or the New York Police Department, opting instead for a private security company.
The nonprofit previously faced criticism for awarding $1,000 bonuses to its twelve highest-paid executives in 2020, despite incurring a loss of $47 million that year and laying off or furloughing 60% of its staff.
Former New York City Mayor Michael Bloomberg serves as the chairman of the nonprofit’s board, which also includes notable trustees like actors Robert De Niro, Billy Crystal, and Jon Stewart.
The financial practices of the 9/11 Memorial have drawn sharp criticism from individuals affected by the events of September 11, 2001. Jim McCaffrey, a retired firefighter who lost his brother-in-law during the attacks, expressed his discontent, stating, “How can you justify these salaries? It’s just another slap in the face of the families, more pain and grief to add to the heartache.” He emphasized that there are many ways to honor the victims that would better utilize taxpayer funds.
As the National September 11 Memorial and Museum navigates its financial challenges, the conversation around executive compensation and the use of public money continues to evolve.