Executive Compensation at the National Association of Realtors (2020)

The National Association of Realtors (NAR) is the largest professional trade association in the US. A non-profit tax-exempt 501 (c) (6) based in Chicago, Illinois, NAR represents 1.5 million members who belong to one or more of the 1,200 associations/boards and 54 state or territory associations.  Members can be residential or commercial brokers, sales people, property managers, real estate appraisers, counselors and others who work in the real estate industry.

NAR functions as a self regulatory agency, a lobbying organization, and as a provider of accreditation and certification of designations.

In 2020, NAR reported total revenue of $301 million (compared to $338 million  in 2019, $245 million in 2018 and $242 million in 2017), of which $269 million (89% of revenue) came from membership dues.

Expenses totaled $277 million in 2020 with the largest expense reported to be compensation ($64 million or 21% of total revenue) for the 363 employees who received an average compensation of $176,000. However, only 192 employees (53% of staff) received more than $100,000 with the 13 most highly compensated employees reported to be:

• $2,531,903:  Bob Goldberg, CEO
• $  912,174:  Shannon McGhan, SVP, Government Affairs
• $  891,977:  Katherine Johnson, SVP General Counsel
• $  884,126:  Mark Birschbach, SVP, Strategic Business Innovation and Tech
• $  736,724:  Lawrence Yun, SVP Chief Economist
• $  705,983:  John Pierpoint, CFO
• $  653,662:  Bill Malkasian, Chief Advocacy Officer
• $  606,144:  Marc Gould, SVP, Membership Development
• $  634,974:  Victoria Gillespie, Chief Marketing and Communications Officer
• $  550,587:  Donna Gland, SVP Talent Development Resources
• $  273,810:  Vince Malta, NAR President
• $  250,000:  Dale Stinton, CEO (former officer)
• $  235,308:  Charles Oppler, President – Elect

The 13 most highly compensated employees received $10 million in compensation or an average compensation of about $770,000 each.  If the most highly compensated employees were excluded from the total amount of compensation paid, then 350 employees were compensated about $54 million, which equates to an average compensation of $154,000.

9 of the 13 (69%) most highly compensated employees are male while 4 of the 13 (31%) are female.

The most highly compensated employee was Bob Goldberg, the CEO who received more than $2.5 million in 2020.  From 2017-2020, Mr Goldberg received $8 million in compensation:

Bob Goldberg:  Total Compensation: 2017-2020:  $8 million

• 2020:  $2,531,903
• 2019:  $2,281,240
• 2018:  $1,968,232
• 2017:  $1,205,373

Dale Stinton is the former CEO, who retired in 2017 but has a consulting agreement with NAR. According to the Form 990, Mr. Stinton works 30 minutes a week for $250,000 annually, or about $5,000 a week.  At $10,000 an hour, Mr. Stinton must be making quite a contribution to NAR although the Form 990 does not disclose what that contribution is or how long this consulting contract will continue.

Dale Stinton:  Total Compensation:  2017-2020:  $6.5 million

• 2020:  $  250,000
• 2019:  $  250,000
• 2018:  $4,006,384
• 2017:  $1,900,680

NAR paid for first class travel, travel for companions, health or social club dues or initiation fees, and personal services (i.e. tax or legal services for certain SVP’s of the organization, and reimbursing the President for housing related costs while traveling for company business). In addition, NAR provided tax indemnification and gross up payments. For more information on these expenses, see Schedule J, Part III, Supplemental Information of the IRS Form 990.

68 independent contractors received more than $100,000 in compensation with the five most highly compensated reported to be:

• $10.7 million:  Havas Media Group, of Chicago, IL for marketing and communications
• $ 4.2 million:  Ziplogix, of Fraser, MI for software provider
• $ 3.9 million:  Lone Wolf Technologies, of Dallas, TX for technology services
• $ 2.8 million:  Colbalt Media Group, of Pompano Beach, FL for marketing consultants
• $ 1.6 million:  Projection Presentation Technology, of Springfield, VA for video production services

To read the IRS Form 990 (2020), click here.