Executive Compensation at the Nature Conservancy (2024)

The Nature Conservancy – a 501 (c) (3) based in Arlington, Virginia – whose mission is “to conserve land and waters on which all life depends” has been around since 1951 and is one of the most popular and wealthy non-profits in the country.

There are 23 voting members (directors) of the governing body, 21 of whom are independent, although the Form 990 lists 25 directors (due to timing differences) – 13 (52%) of whom are male and 12 (48%) of whom are female.

The most recent financial information (the 2023 IRS Form 990 for the year ending June 30, 2024) reports the organization raised $1.5 billion and spent $1.4 billion. The difference between revenue raised and revenue spent was $130 million which along with nearly $220 million in net unrealized gains on investments and other changes in assets helped increase  net fund assets from $7.8 billion at the beginning of the year to $8.1 billion at the end of the year. Many people see the Nature Conservancy as an organization that raises more than a billion dollars a year and therefore has high staff costs and they do (compensation is the organization’s largest expense). 4,829  persons were employed in 2024 (about 400 more than the previous year) with total staff compensation reported to be $584 million which equates to an average compensation package of $121,000 per employee.

1,525 employees received more than $100,000 in compensation (about 200 more than the previous year).  The 16 staff listed below received $9 million in compensation in 2024:

• $927,416:  Jennifer Morris, Director, CEO
• $905,802:  Bola Olusanya, Chief Investment Officer
• $682,377:  Leonard Williams, Former CFO
• $530,975:  David Banks, Interim Chief Conservation Officer
• $520,970:  Jan Mittan, Global Market Development Director
• $513,412:  Michael Sweeney, State Director
• $504,011:  William Ulfelder, NY Executive Director
• $482,343:  Thomas Neises, VP and Associate Chief Development Officer
• $480,751:  Nathalie Augustin, General Counsel
• $480,074:  Matthew Arnold, Global Head, Impact
• $473,506:  Scott Morrison, CONS Program and Science Director
• $471,806:  Michael Keith Doane, Global Managing Director, PFW
• $452,621:  Matthew Brown, Managing Director
• $452,515:  Jan Glendening, Regional Managing Director, NA
• $304,107:  Asha Shaw, Interim CFO (until 5/24)
• $283,292:  Hans Birle, Interim General Counsel

As listed above, 10 of the 16 (62%) of the most highly compensated employees are male while 6 – or 38% – are female.  Of the ten most highly compensated employees, 7 – or 60% – are men – and 4 are women.  The 10 most highly compensated employees in 2024 received $27 million in compensation between 2017-2024 (note:  highly compensated employees in any of the years 2017-2023 but not in 2024 are not listed, including Brian McPeek who received more than $4 million from 2017-2022 of which $2 million was after his departure in 2019):

Bola Olusanya:  Total Compensation 2022-2024:  $2 million

• 2024;  $905,802
• 2023:  $903,171
• 2022:  $444,985

Jennifer Morris:  Total Compensation 2021-2024:  $3 million

• 2024:  $927,416
• 2023:  $884,417
• 2022:  $758,013
• 2021:  $549,812

Jan Mittan:  Total Compensation 2017-2024:  $3 million

• 2024:  $520,970
• 2023:  $535,529
• 2022:  $443,932
• 2021:  Not Listed
• 2020:  $404,687
• 2019:  $384,433
• 2018:  $358,308
• 2017:  $344,744

William Ulfelder:  Total Compensation 2022-2024:  $2 million

• 2024:  $504,011
• 2023:  $512,040
• 2022:  $474,700

David Banks:  Total Compensation 2017-2024:  $4 million

• 2024:  $530,975
• 2023:  $502,349
• 2022:  $505,724
• 2021:  $470,138
• 2020:  $469,036
• 2019:  $389,439
• 2018:  $322,903
• 2017:  $325,826

Michael Sweeney:  Total Compensation 2017-2024:  $4 million

• 2024:  $513,512
• 2023:  $495,315
• 2022:  $473,975
• 2021:  $446,198
• 2020:  $437,465
• 2019:  $409,202
• 2018:  $339,415
• 2017:  $361,877

Thomas Neises:  Total Compensation 2017-2024:  $4 million

• 2024:  $482,343
• 2023:  $486,749
• 2022:  $458,219
• 2021:  $412,973
• 2020:  $407,301
• 2019:  $391,987
• 2018:  $393,683
• 2017:  $408,566

Leonard Williams:  Total Compensation 2019-2024:  $3 million

• 2024:  $682,377
• 2023:  $478,753
• 2022:  $463,231
• 2021:  $402,889
• 2020:  $401,835
• 2019:  $334,779

Nathalie Augustin:  Total Compensation 2022-2024:  $1 million

• 2024:  $480,751
• 2023:  $472,765
• 2022:  $224,327

Matthew Arnold:  Tota Compensation 2023-2024:  $1 million

• 2024:  $480,074
• 2023:  $429,992

The most highly compensated employee was Jennifer Morris, the CEO who received $927,416 in 2024.

The IRS Form 990 also reports the organization paid for first class or charter travel. With regards to first class travel, “persons listed on the 990 may receive first class travel in limited circumstances, which include (1) when no economy fare was available, or (2) when there was no price difference.”  Charter travel was used to remote areas that are not commercially accessible.

The Nature Conservancy made a $10 million loan at 0% interest to Shirley Harry Hagey Community Property Trust, a trust related to Mr. Hagey, also a Board member to fund conservation loan in Idaho. The outstanding balance due is $8 million.

466 independent contractors received more than $100,000 in compensation. The 5 most highly compensated were reported to be:

• $11 million:  Personal  Fundraising Services, of Chicago, IL for fundraising services
• $ 7 million:  DM Group, of Prince Frederick, MD for direct mail services
• $ 7 million:  RR Donnelly and Sons Company, of Warrenville, IL for marketing services
• $ 5 million:  3Sixty Fundraising, of Brooklyn,, NY for professional fundraising
• $ 5 million:  New Canvassing Experience, of Cedar Creek, TX for professional fundraising

To read the IRS Form 990 (2023 for the year ending June 30, 2024), click here.