I've never heard of university teachers being paid per hour, rather than per-class (adjunct) or salaried. How do they account for time spent in course preparation, grading, and communicating with students out of classes?
I am also not familiar with for-profit universities though, which it sounds like maybe yours was?
I am still sort of thinking that something got misunderstood on the way from the family member sneaking peaks at salaries in the office, to you, to us.