Executive Compensation at the North American Meat Institute
The North American Meat Institute (NAMI) is a national trade association based in Washington, DC. A tax-exempt 501 (c) (6), NAMI represents companies that process most of the red meat and turkey in the US. To do this, they try to shape public policy so that these companies can “produce wholesome products safely, efficiently, and profitably.” Although many people would disagree that these products are “wholesome,” the association nevertheless represent the interests of the companies that produce beef, pork, lamb, and poultry products for consumers.
NAMI has 104 directors, 98 of whom are male while 6 are female.
NAMI raises about $10 million annually (primarily through membership dues and trade shows) and typically spends about 90% of revenue on expenses (primarily staff compensation, office-related costs, travel and conferences, and litigation). The remaining 10% has contributed to the company’s assets, which had a net fund balance of $4.4 million at the end of the year.
NAMI reported having 39 employees (2016) who were compensated $6.5 million, which equates to an average compensation of $167,000 although only 21 employees received more than $100,000 in compensation. The 10 most highly compensated employees are listed below:
- $655,588: Barry Carpenter, President and CEO
- $438,075: Patrick Boyle, (Former Officer) – salary and benefits for 2016 following departure in 2014
- $334,731: Janet Mazariegos, SVP
- $323,773: Mark Dopp, SVP
- $298,433: William Westman, SVP
- $292,982: Richard Thomson, SVP
- $250,303: Ronald Nunnery, SVP
- $243,894: Anne Halal, SVP
- $241,406: Scott Goltry, VP
- $134,773: James Hodges (Former Officer) – salary and benefits for 2016 following departure in 2014
As illustrated above, 8 of the 10 most highly compensated individuals are male while 2 are female. Two of the individuals (Patrick Boyle and James Hodges) left employment in 2016 but were paid full salary and benefits for 24 months (2015 and 2016) in accordance with their respective employment agreements. The total cost of these benefits were $551,648.
For a $10 million trade organization, there were 9 individuals who were compensated between $241,406 and $655,588. 10 individuals accounted for $3.2 million in compensation, which is about 33% of the total revenue received by NAMI in 2016. If their compensation of $3.2 million was deducted from the total compensation ($6.5 million), then $3.3 million was paid to 31 employees (39 employees minus 8 employed above), which equates to an average compensation of $106,000.
In addition, all staff have health club reimbursements.
It is also important to note that two related organizations – The Foundation for Meat and Poultry Research and Education, a 501 (c) (3) and North American Meat Institute Political Action Committee, a 527 – both operate out of the same office as NAMI.
To read the IRS Form 990 (2016), click here.