Executive Compensation at the National Geographic Society (2022)

The National Geographic Society (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 $1.5 billion in net assets (down $250 million since last year due to unrealized losses on investments), 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 2022, revenue totaled $158 million  (compared to $204 million in 2021, $70 million in 2020, $105 million in 2019 and $130 million in 2018), most of which came from contributions, gifts, and grants ($75 million), investment income and gains ($64 million), royalties ($19 million), and education programs ($5 million).

It is important to note the net assets were $1.7 billion at the beginning of the year.  After accounting for unrealized gains on investments (-$211 million), and changes in net assets (-$12 million) for post retirement benefits, and that NGS spent $31 million more than they collected in 2022, NGS closed the year with just under $1.5 billion in net assets.

Expenses totaled $189 million (including $3 million in depreciation) with the largest expenses reported to be compensation ($71 million), fees for professional services ($51 million), grants ($30 million), and program and marketing costs ($16 million).

In 2022, 662 employees received $71 million (compared to 539 employees receiving $55 million in 2021) in compensation for an average compensation of $107,000. However, only 220 employees received more than $100,000 with the 18 most highly compensated employees reported to be:

• $1,361,625:  Jill Tiefenthaler, CEO
• $  864,987:  Michael Ulica, President/COO/Treasurer
• $  603,671:  Kristi Craig, Chief Investment Officer
• $  594,149:  Kara Ramirez Mullins, Chief Advancement Officer
• $  584,119:  Sumeet Seam, Chief Legal Officer 
• $  555,990:  Ian Miller, Chief Science Innovation Officer
• $  536,504:  Crystal Brown, Chief Communications Officer
• $  498,774:  Vicki Phillips,  Former EVP and Chief Education Officer
• $  436,446:  Mara Dell, Chief Human Resources Officer
• $  416,895:  Enric Sala, Explorer in Residence
• $  415,057:  Robert Young, CFO
• $  389,233:  Jason Southern, Chief Technology Officer
• $  386,493:  Kim Waldron Chief of Staff Program Alignment
• $  380,263:  Alex Moen, VP Explorers Program
• $  375,130:   Kaitlin Yarnall, SVP, Chief Storytelling Officer
• $  336,182:  Shannon Bartlett, Chief Diversity, Equity, Inclusion Officer
• $  302,421:  Anthony Luckett, VP, Business Development
• $  295,394:  Tara Bunch, Former Chief Admin Officer

The 18 most highly compensated employees received $9 million in 2022, which equates to an average compensation of $560,000.

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

The 8 most highly compensated employees received $13 million in compensation from 2019-2022:

Jill Tiefenthaler:  Total Compensation 2020-2022:  $3 million

• 2022:  $1,361,625
• 2021:  $1,093,035
• 2020:  $  524,859

Michael Ulica:  Total Compensation 2019-2022:  $3 million

• 2022:  $864,987
• 2021:  $810,168
• 2020:  $788,290
• 2019:  $694,735

Vicki Phillips:  Total Compensation. 2019-2022:  $2.5 million

• 2022:  $  498,774
• 2021:  $1,126,373
• 2020:  $  505,581
• 2019:  $  382,354

Kristi Craig:  Total Compensation. 2022: $0.6 million 

• 2022:  $603,671

Kara Rameriz Mullins:  Total Compensation 2020-202.:  $1,4 million

• 2022:  $594,149
• 2021:  $619,869
• 2020:  $186,368

Sumeet Seam:  Total Compensation 2021-2022:  $1.1 million

• 2022:  $584,119
• 2021:  $531,260

Ian Miller:  Total Compensation 2022:  $0.6 million

• 2022:  $555,990

Crystal Brown:  Total Compensation. 2021-2022:  $1 million

• 2022:  $536,504
• 2021:  $461,,386

See the Form 990, Schedule J, Part III, Supplemental Information for details on severance payments made in 2022.

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

• $4.3 million:  Digital Velocity Partners, of London, UK for IT services and consulting
• $3.3 million:  Hickok Cole Architects, of Washington, DC for architecture
• $2.6 million:  HBP, Inc, of Hagerstown,MD for fundraising
• $2.4 million:  Production Management Group, of Columbia, MD for fundraising
• $2.1 million:  EPAM Systems, of Newtown, PA for IT services and consulting

To read the IRS Form 990 (2022), click here.