According to a study by the Chronicle of Higher Education released February 23, colleges’ chief executives are not making as much as others at private institutions, such as football coaches and medical school professors. Congress and other watchdogs recently have criticized colleges for excessive pay to chief executives. However, according to the study, chief executives accounted for only 11 of the 88 private college employees who made $1 million or more in the 2006-2007 fiscal year. The information was gathered from the financial reports filed by more than 600 private colleges and included employees’ total compensation of pay plus benefits. Among almost 300 employees who earned $500,000 or more each year, fewer than half were college presidents. Sen. Charles Grassley in November raised the issue of requiring an annual payout for the wealthiest colleges and universities and has applauded the increased reporting requirements on charitable spending on the new Form 990.