Have you met, do you know any of the board? Do any of them wander in from time-to-time or do you have public functions/parties when they show up to glad-hand givers? I would try to make friends with one of them, if you don't already feel comfortable with one and approach them, tell them you "couldn't help but hear" and what you heard and what's going on. They may not be able to "do" anything but they can certainly speak up for you if the pay, etc. situations come up and be used for a reference instead of the lying-to-save-his-own-behind Executive Director?