register for email updates
Michael Lomax, United Negro College Fund CEO: $1.27 million
Michael Lomax, former Fulton County Commission chairman, has done quite well for himself since leaving town.
The two-time Atlanta mayoral candidate moved to New Orleans in 1997 to become president of Dillard University and then to Washington in 2004 to serve as president and CEO of the United Negro College Fund.
UNCF paid Lomax $1,271,938 last year, according to the non-profit’s most recent filing with the Internal Revenue Service. That sum included base pay of about $354,000, a partial retirement package of $686,000 and another $96,000 toward his next retirement package, which vests in 2012.
“The terms and conditions of Dr. Lomax’ retirement benefits are in keeping with those offered by comparable institutions and are designed to assure his long tenure as an effective leader,” the organization said in a note on its 2010 tax filing.
Tax records show UNCF paid 13 other executives more than $150,000 last year. Of those, three made more than $300,000. The UNCF also paid former CEO William H. Gray III a $150,000 retirement installment last year.
Lomax, 63, received $710,000 in FY2009 and $673,000 the year before that, tax filings show.
He served as chairman of the Fulton County Commission from 1981 through 1993. He ran for mayor of Atlanta in 1993, losing to Bill Campbell, and announced his candidacy in 1989 but dropped out before the election, won by Maynard Jackson.