Executive Compensation at the National Geographic Society (2021)

When we think of the National Geographic Society (NGS), we often think of the magazine, which according to my childhood friends, was the first magazine they could look through to see naked people. But, the National Geographic Society is so much more than just the magazine. In their own words, they “identify and invest in an international community of explorers:  leading scientists, educators, storytellers, conservationists, technologists, and many other change makers who help us define some of the critical challenges of our time….”

The NGS is a tax-exempt non-profit 501 (c) 3 organization based in Washington, DC that primarily relies on investment income (gains on the sale of investments, dividends, interest, etc), royalties, and contributions for revenue.  With $1.7 billion in net assets, NGS has the ability to rely on these resources to keep their programs going when contributions, gifts, and grants (roughly $20-$50 million annually) are not enough, and when revenue greatly decreases due to unforeseen circumstances, like the pandemic in 2020.

In 2021, revenue totaled $204 million  (compared to $70 million in 2020, $105 million in 2019 and $130 million in 2018), most of which came from investment income and gains ($124 million), contributions, gifts, and grants ($52 million), royalties ($22 million), net rental income ($4 million) and education programs ($1 million). It is important to note the net assets were nearly $1.6 billion at the beginning of the year.  After accounting for unspent revenue ($64 million), unrealized gains on investments ($134 million), and changes in net assets ($2 million), NGS closed the year with $1.7 billion in net assets.

Expenses totaled $141 million (including $3 million in depreciation) with the largest expenses reported to be compensation ($55 million), fees for professional services ($44 million), grants ($18 million), and program and marketing costs ($10 million).

In 2021, 539 employees received $55 million in compensation for an average compensation of $102,000. However, only 201 employees received more than $100,000 with the 16 most highly compensated employees reported to be:

• $1,126,373:  Vicki Phillips,  Former EVP and Chief Education Officer
• $1,093,035:  Jill Tiefenthaler, CEO
• $  847,955:  Tara Bunch, Former Chief Admin Officer
• $  810,618:  Michael Ulica, President/COO/Treasurer
• $  619,869:  Kara Ramirez Mullins, Chief Advancement Officer
• $  531,260:  Sumeet Seam, Chief Legal Officer
• $  515,968:  Valerie Craig, Former VP, Operating Programs
• $  512,872:  Mara Dell, Chief Human Resources Officer
• $  461,386:  Crystal Brown, Chief Communications Officer
• $  444,393:  Alex Moen, VP Explorers Program
• $  436,562: Kaitlin Yarnall, SVP, Chief Storytelling Officer
• $  432,956:  Robert Young, CFO
• $  405,834:  Jason Southern, Chief Technology Officer
• $  328,338:  Emma Carrasco, Former Chief Marketing and Engagement/SVP Global Strategy
• $  287,390:  Angelo M Grima, Former EVP and General Counsel/Corp Sec’y
• $  175,292:  Michael J Cole, Former SVP, Controller, Asst Treasurer

The 16 most highly compensated employees received $9 million in 2021, which equates to an average compensation of $560,000. 6 of the 16 employees listed above are former employees which indicates there are changes coming.

7 of the 16 (44%) most highly compensated employees are male while 9 of the 16 (56%) are female.

The 5 most highly compensated employees received more than $8 million in compensation from 2019-2021:

Vicki Phillips:  Total Compensation 2019-2021:  $2 million

• 2021:  $1,126,373
• 2020:  $  505,581
• 2019:  $  382,354

Jill Tiefenthaler:  Total Compensation 2020-2021:  $1.6 million

• 2021:  $1,093,035
• 2020:  $  524,859

Tara Bunch:  Total Compensation 2019-2021:  $1.7 million

• 2021:  $847,955
• 2020:  $488,164
• 2019:  $406,235

Michael Ulica:  Total Compensation 2019-2021:  $2.3 million

• 2021:  $810,168
• 2020:  $788,290
• 2019:  $694,735

Kara Rameriz Mullins:  Total Compensation 2020-2021:  $0.8 million

• 2021:  $619,869
• 2020:  $186,368

 134 independent contractors received more than $100,000 in compensation with the five highest reported to be:

• $3.8 million:  Digital Velocity Partners, of London, UK for IT services and consulting
• $2.9 million:  BBC Studios Production, of London, England for film production and editing
• $2.8 million:  Avalon Consulting Group, of Washington, DC for fundraising consulting
• $2.5 million:  Production Management Group, of Columbia, MD for fundraising
• $1.8 million:  Hickok Cole Architects, of Washington, DC for architecture

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