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Finance

OCLC executive compensation

Compensation for OCLC executives and corporate officers is disclosed in the organization's annual Federal Tax Form 990 filing. The 990 is the Internal Revenue Service (IRS) form filed annually by organizations which are exempt from income tax. The IRS uses this form to assess compliance with the Internal Revenue Code. Along with such items as organizational assets, receipts and expenditures, the compensation of officers, directors, trustees and key employees is disclosed.

As in most organizations, executive compensation is determined by using market data, external compensation consultants, merit and historical benchmarks. Compensation for the CEO is set by the Board of Trustees. The CEO recommends appropriate executive compensation for other officers which is then reviewed and approved annually by the Board. OCLC's Board is comprised of librarian trustees elected through the organization's Global Council and non-librarian trustees, elected by the Board itself, from fields outside librarianship. Support for the Board's role in executive compensation oversight is documented and provided by its Personnel and Compensation Committee and qualified external consultants.