The reported earnings of USA Track and Field chief executive Max Siegel have pushed beyond $4 million ©Getty Images

The latest USA Track and Field (USATF) tax return has revealed that chief executive Max Siegel’s reported compensation jumped sharply in 2018.

The 78-page Form 990 filing reveals that Siegel earned $1.26 million (£1 million/€1.15 million) in “reportable compensation” from USATF, but also an estimated $3.04 million (£2.4 million/€2.8 million) in “other compensation”, for a grand total of some $4.3 million (£3.4 million/€3.9 million).

This compares with a total of just under $1.19 million (£950,000/€1.08 million) in 2017.

A further breakdown in the body of the 2018 document discloses that almost $3.03 million (£2.4 million/€2.76 million) of the total comprised "retirement and other deferred compensation."

The chief executive’s base compensation was just $611,014 (£488,811/€556,023).

There was also a $500,000 (£400,000/€455,000) bonus, just over $146,000 (£116,800/€132,860) in “other reportable compensation” and a bit more than $10,000 (£8,000/€9,100) in non-taxable benefits.

USATF explained that the compensation included "contractual deferred bonuses payable over a period of seven years through 2024."

The latest USA Track and Field tax return has reported a large jump in compensation paid to its chief executive Max Siegel ©Getty Images
The latest USA Track and Field tax return has reported a large jump in compensation paid to its chief executive Max Siegel ©Getty Images

The organisation added: “For accounting purposes, these bonuses were deemed earned in the current and prior years, but they will not be paid until the future years stated in the employment contract.

“This resulted in higher expense on the financial statements and deferred compensation being reflected on the Form 990, however the chief executive has not yet received these future bonuses.”

The new information comes less than a week after a report that Siegel would take a pay cut during the coronavirus pandemic and that seven people had been laid off.

Siegel’s pay cut was said to amount to 20 per cent.

USATF is one of a number of US sports bodies to make cuts in response to COVID-19.

Numerous athletics competitions have been either postponed or cancelled.

These include the US Olympic Trials in Eugene in Oregon, which are moving to 2021 in the wake of the postponement of the Tokyo 2020 Olympics and Paralympics.

The next World Athletics Championships, also set to be held in Eugene, have been pushed back to 2022.

The new filing put USATF’s 2018 revenue at $33.5 million (£26.8 million/€30.5 million), up from $32.4 million (£25.9 million/€29.5 million) the previous year, and expenses at $35.4 million (£28.3 million/€32.2 million), up from $31.3 million (£25 million/€28.5 million).