Executive Compensation at the National Pork Producers Council
The National Pork Producers Council (NPPC) is a non-profit, tax-exempt 501 (c) (5) – an agricultural organization that can make unlimited corporate, individual, or union contributions – that also owns a for-profit corporation called the American Pork Export and Trading Company, whose focus is on the export of pork.
Based in Des Moines, Iowa (with an office in Washington, DC), NPPC represents 42 affiliated state associations that promote pork (there are 60,000 pork producers with Smithfield being the largest, that raise and slaughter about 120 million hogs annually – about 1 hog for every 3 people in the US).
The NPPC raises about $16 million annually (mostly through contributions; only $2 million comes from membership dues and $3 million from trade shows) and spends about $16 million annually with their 5 largest expenses reported to be: compensation ($5 million), payments to affiliates ($3 million), travel and conferences ($3 million), office-related expenses ($2 million), and lobbying and PAC ($2 million).
Compensation is the largest expense for NPPC with 44 employees receiving $5 million in 2018, which equates to an average compensation of $107,000. However, only 11 employees received more than $100,000 in compensation with the 6 most highly compensated employees reported to be:
- $523,650: Nicholas Giordano, VP/Counsel, Gov’t/Int Affairs
- $434,534: Neil Dierks, CEO
- $342,292: Dallas Hockman, VP/Industry Relations
- $249,309: Michael Formica, AVP, Domestic Affairs
- $207,913: James Monroe, AVP, Communications
- $195,633: Elizabeth Wagstrom, Chief Veterinarian
5 of the 6 (83%) most highly compensated employees are male, while 1 of the 6 (17%) is a female. In addition, it is important to note NPPC is governed by a 15 member Board of Directors, 11 of whom are independent. The Form 990 (2018) reports 11 directors, 10 of whom are male while 1 is a female.
To read the IRS Form 990 (2018), click here.
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Love your little pig in the picture. Clever. Did you make it yourself?