Executive Compensation at the National Geographic Society (2023)

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 from 2021 due to unrealized losses on investments in 2021 that were partially offset by gains in 2023), NGS has the ability to rely on these resources to keep their programs going when contributions, gifts, and grants (roughly $20-$90 million annually) are not enough, and when revenue greatly decreases due to unforeseen circumstances, like the pandemic in 2020.

Key financial information is summarized as follows:

• In 2023, revenue totaled $232 million  (compared to $158 million in 2022, $204 million in 2021, $70 million in 2020, $105 million in 2019 and $130 million in 2018), which came from contributions, gifts, and grants ($91 million), investment income and gains ($114 million), royalties ($24 million), and education programs ($3 million).
• Expenses totaled $213 million (including $5 million in depreciation) with the largest expenses reported to be compensation ($80 million), fees for professional services ($53 million), grants ($35 million), and program and marketing costs ($15 million).
• It is important to note the net assets were $1.7 billion in 2021.  After accounting for unrealized losses 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 2022 with just under $1.5 billion in net assets.  
• In 2023, NGS spent $19 million less than the organization raised.  After recognizing $62 million in unrecognized gains and a $3 million change in net assets, NGS closed 2023 with $1.55 billion in net assets. So, although the organization is spending less and recognizing gains on investments, they still have not made up the unrecognized losses incurred in 2021.

In 2023, 671 employees received $80 million (compared to 662 employees receiving $71 million in 2022 and 539 employees receiving $55 million in 2021) in compensation for an average compensation of $119,000. However, only 213 employees received more than $100,000 with 17 of the most highly compensated employees reported to be:

• $1,496,456:  Michael Ulica, President/COO/Treasurer
• $1,378,001:  Jill Tiefenthaler, CEO
• $  981,301:  Kristi Craig, Chief Investment Officer
• $  626,812:  Kara Ramirez Mullins, Chief Advancement Officer
• $  592,904:  Sumeet Seam, Chief Legal Officer
• $  544,933:  Ian Miller, Chief Science Innovation Officer
• $  577,143:  Crystal Brown, Chief Communications Officer
• $  521,800:  Robert Young, CFO
• $  473,055:  Mara Dell, Chief Human Resources Officer
• $  439,231:  Enric Sala, Explorer in Residence
• $  420,144:  Kim Waldron Chief of Staff Program Alignment
• $  406,142:   Kaitlin Yarnall, SVP, Chief Storytelling Officer
• $  405,900:  Deborah Grayson, Chief Education Officer
• $  399,727:  Alex Moen, Chief Explorer and Engagement Officer
• $  354,903:  John Coombe, Director, Investments
• $  347,599:  Shannon Bartlett, Chief Diversity, Equity, Inclusion Officer
• $  329,711:  Jason Southern, Chief Technology Officer

The 17 highly compensated employees listed above 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 $18 million in compensation from 2019-2023:

Michael Ulica:  Total Compensation 2019-2023:  $5 million

• 2023:  $1,496,456
• 2022:  $  864,987
• 2021:  $  810,168
• 2020:  $  788,290
• 2019:  $  694,735

Jill Tiefenthaler:  Total Compensation 2020-2023:  $4 million

• 2023:  $1,378,001
• 2022:  $1,361,625
• 2021:  $1,093,035
• 2020:  $  524,859

Kristi Craig:  Total Compensation. 2022-2023: $2 million 

• 2023:  $981,031
• 2022:  $603,671

Kara Rameriz Mullins:  Total Compensation 2020-2023:  $2 million

• 2023:  $626,812
• 2022:  $594,149
• 2021:  $619,869
• 2020:  $186,368

Sumeet Seam:  Total Compensation 2021-2023:  $2 million

• 2023:  $592,904
• 2022:  $584,119
• 2021:  $531,260

Ian Miller:  Total Compensation 2022-2023:  $1 million

• 2023:  $544,933
• 2022:  $555,990

Crystal Brown:  Total Compensation:  2021-2023:  $2 million

• 2023:  $577,143
• 2022:  $536,504
• 2021:  $461,,386

Robert Young:  Total Compensation. 2021-2023:  $1 million

• 2023:  $521,800
• 2022:  $415,057
• 2021:  $432,956

NGS paid for first class travel and travel for companions in 2023.  For details, see the Form 990, Schedule J, Part III, Supplemental Information.

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

• $27 million:  HITT Contracting, of Falls Church, VA for construction
• $ 6 million:  HBP, Inc, of Hagerstown,MD for fundraising
• $ 4 million:  Digital Velocity Partners, of London, UK for IT services and consulting
• $ 3 million:  Hickok Cole Architects, of Washington, DC for architecture
• $ 3 million:  The Wild Bird Trust, of Parktown, South Africa for wildlife conservation management

To read the IRS Form 990 (2023), click here.