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April 9, 2021

Executive Compensation at the National Multifamily Housing Council

by Anne Paddock

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.

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