Executive Compensation at the National Multifamily Housing Council
The National Multifamily Housing Council (NMHC) is a tax-exempt, non-profit 501 (c) 6 – a trade association – that advocates for multifamily rental organizations – that pays its President, Doug Bibby very well ($1.3 million in 2018 and $150,000 into a retirement account) along with its other top executives (7 other executives received $300,00 – $450,000 in 2018).
By most standards, NMHC is a small non-profit: they raise about $18 million annually, most of which comes from two sources: membership dues ($10 million) and meeting revenue ($7 million). Expenses total about $18 million with the largest being compensation ($10 million) and conferences/conventions/meetings ($3 million). At year-end 2018, NMHC had $13 million in assets.
Based in Washington, DC, the NMHC is overseen by 5 voting members of the governing party, 4 of whom are independent. Doug Bobby, the President of NMHC is one of the 5 trustees.
NMHC had 47 employees in 2018 who received $10 million in compensation, which equates to an average compensation of $213,000. However, 24 employees received more than $100,000 with the 8 most highly compensated employees listed below:
- $1,326,601: Doug Bibby, President
- $ 450,825: Cindy Chetti, SVP
- $ 404,821: Kenny Emson, SVP and Asst Treasurer
- $ 375,302: Kim Duty, SVP
- $ 326,396: Mark Obrinsky, SVP
- $ 318,093: Eileen Lee, VP
- $ 316,285: David Borsos, VP
- $ 298,716: Matthew Berger, VP
The 8 most highly compensated employees received nearly $4 million, leaving $6 million to the other 41 employees.$6 million divided by 41 employees equals $146,000. However, only 16 other employees received more than $100,000 in compensation. Those 16 employees would have to receive approximately $225,000 each for a total of $3.6 million for the remaining 25 employees to receive less than $100,000 each.
5 of the 8 most highly compensated employees are male while 3 of the 8 are female. Of the 5 trustees, 4 are male and 1, the Chairwoman is female.
6 independent contractors received more than $100,000 in compensation with the 5 highest reported to be:
- $774,870: Home Front Communications LLC, of Washington, DC for Vision 2030 Creative Campaign
- $393,422: Washington Speakers Bureau, of Alexandria, VA for speaker fees and expenses
- $373,208: Leading Authorities, Inc., of Washington, DC for speaker fees and expenses
- $180,714: Brightfind, of Silver Spring, MD for CMS Implementation website
- $176,048: Capitol Tax Partnerships, of Washington, DC for government relations consulting
To read the IRS Form 990 for the year ending June 30, 2018, click here.