Executive Compensation at the Institute of Electrical and Electronics Engineers (IEEE) 2021

The Institute of Electrical and Electronics Engineers (IEEE – pronounced “I Triple E”) is a non-profit tax-exempt 501 (c) (3) – a professional association for electrical and electronic engineers that serves the public good through its scientific and education (making their work available on a non-discriminatory basis (note:  a 501 (c) (6) serves an industry – not the public – and does not need to make their work available to the public in a non-discriminatory basis).

There are 31 voting members of the governing body, 30 of whom are independent;  22 of the 31 (70%) are male while 9 of the 31 (30%) are female.

Headquartered in Piscataway, New Jersey, IEEE reported having 1,150 employees who were compensated $178 million in 2021, which equates to an average compensation of $155,000.  568 employees received more than $100,000 in compensation with the 13 most highly compensated employees listed below:

• $1,282,071:  Stephen Welby, Assistant Secretary and Executive Director
• $  665,733:  Mary Ward-Callan, Managing Director – Technical Activities
• $  641,128:  Thomas R Siegert, Assistant Treasurer, Staff Executive, and CEO
• $  618,205:  Konstantinos Karachalios, Managing Director – IEEE Standards
• $  583,081:  Sophia Muirhead, General Counsel and CCO
• $  498,754:  Donna Hourican, Staff Executive Corporate Activities
• $  486,705:  Cherif Amirat, Chief Information Officer
• $  478,914:  Karen L Hawkins, Chief Marketing Officer
• $  459,209:  Francis Staples, Sr Director – Global Sales and Customer Ops
• $  450,196:  Jean Jennings, Director – International Sales
• $  430,906:  Emily Csernica, Director – North America Sales
• $  390,705:  Steven Heffner, Managing Director, Publications
• $  335,919:  James Moesch, Managing Director, Education

The 13 most highly compensated employees received $7.3 million which equates to an average compensation of $562,000 although the compensation ranged from a low of $335,919 to a high of $1,282,071.

The most highly compensated employee, Stephen Welby received more than $4 million in compensation from 2018-2021:

• 2021:  $1,282,071
• 2020:  $1,148,304
• 2019:  $1,047,149
• 2018:  $  844,918

5 of the 13 (38%) most highly compensated employees are male while 8 of the 13 (62%) are female.

Stephen Welby, Executive Director and COO beginning Jan 2, 2018 was the only participant in a non-qualified, unfunded, deferred compensation plan that accrued $153,806 in 2021 for Stephen Welby.

Conference Catalysts, owned by a family member of Ruth Dyer, a director, received $1,386,614 in a business transaction (no details provided).

It is important to note, IEEE did not pay for first class or charter travel, travel for companions, discretionary spending accounts, or provide gross up payments or tax indemnification, health or social club dues or initiation fees, etc, unlike previous years when IEEE reported these expenses (but no the amounts) on the Form 990, Schedule J, Part III, Supplemental Information.

226 independent contractors received more than $100,000 in compensation. The five most highly compensated were reported to be:

• $4.5 million:  Oracle America of San Mateo, CA for license and maintenance of core financial system
• $3.2 million:  iEnergizer Aptara Limited of Chicago, IL for XML image conversion, page comp, editing
• $3.0 million:  Data Conversion Laboratory, Inc. of Fresh Meadows, NY for XML tagging, graphics, editing
• $2.7 million:  Finn Partners, Inc. of NY, NY for management of crisis comm, monitoring press, etc
• $2.7 million:  IMEX Global Solutions of Chicago, IL for international mailings

To read the IRS Form 990 (2021), click here.