Executive Compensation at the US Chamber of Commerce (2023)

The US Chamber of Commerce (also known as the Chamber of Commerce of the United States of America) is the largest business organization in the United States representing businesses. A tax-exempt, non-profit 501 (c) 6 organization, the US Chamber of Commerce (USCOC) is based in Washington, DC.

The USCOC raised $197 million in 2022 (compared to $210 million in 2022, $204 million in 2021, $230 million in 2020 and $173 million in 2019), primarily from contributions, gifts and grants with only $4 million coming from membership dues).

Expenses totaled $207 million, with the largest expense reported to be compensation ($106 million), followed by fees for services ($42 million), office-related expenses ($20 million). A $5 million adjustment to net assets allowed the organization to close the year with $86 million in net assets (compared to $81 million at the beginning of the year).  

In 2023, 500 employees received $106 million in compensation which equates to an average compensation of $212,000. However, only 266 employees received more than $100,000 in compensation with the 13 most highly compensated reported to be:

• $6,658,776:  Suzanne P Clark, President and CEO
• $2,585,373:  Elizabeth Keffer, EVP and Chief Relations Officer
• $2,125,650:  Myron Brilliant, EVP and Head International
• $2,077,214:  David T Hirschmann, President and CEO, CCMC, GIPC,C-Tec
• $2,006,282:  Justin Waller, EVP and COO
• $1,898,126:  Neil Bradley, EVP and Chief Policy Officer
• $1,521,780:  Harold Kim, President, ILR
• $1,204,122:  Martin Durbin, President GEI and SVP Policy
• $1,201,840:  Michelle Russo, Chief Communications Officer
• $1,098,293:  Agnes Warfield-Blanc, EVP, Strategic Initiatives
• $  811,878:  David Detweiler, General Counsel and Secretary
• $  619,870:   Stefan Freiberg, CFO
• $  332,672:  Kevin Garvey, Asst General Counsel and Secretary

The 13 most highly compensated employees received $24 million in compensation.  9 of the 13 (69%) most highly compensated employees are male while 4 of the 13 (31%) are female.  Suzanne Clark, the President and CEO was the most highly compensated employee and she received $6.7 million in 2023.

USCOC paid for first class and charter travel, companion travel, health or social club dues or initiation fees, and for personal services.  For details on these expenses, see Schedule J, Part III, Supplemental Information on the Form 990.

It is interesting to note:

• 500 employees received $106 million in compensation.
• 266 employees received more than $100,000 in compensation so 234 received less than $100,000 in compensation.
• 13 employees received $24 million so the remaining 487 employees received $82 million in compensation in 2023, or an average of $168,000.
• Of the 487 employees who received $82 million, 253 received more than $100,000 in compensation while 234 received less than $100,000 in compensation, or a maximum of $23 million (234 x $99,999), so the 253 employees who received more than $100,000 in compensation received $49 million or an average off $194,000, and yet none of these employees are not listed on the Form 990 schedule as highly compensated or key employees.

For information on “Transactions with Interested Persons” where 35 substantial contributors were compensated for services (consulting, legal services, public relations, and accounting), see Schedule L, Part IV, Business Transactions Involving Interested Persons on the Form 990.

It is important to note that in 2023, there were 35 substantial contributors who received compensation for services.  The increase from 15 in 2020 to 32 in 2021 to 34 in 2022 to 35 in 2023 may cause readers to wonder if “pay for play” (where contributors make donations to obtain work from an organization) exists.

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

• $1,916,819:  Hunton Andrews Kurth, of Washington DC for public policy consulting
• $1,003,840:  Gibson Dunn and Crurcher, of LA, CA for public policy consulting
• $  955,000:  King and Spaulding, of Atlanta, GA for public policy consulting
• $  937,751:  Akin Gump Strauss Hauer and Feld, of Washington, DC for public policy consulting
• $  802,,703:  Mayer Brown LLP, of Washington, DC for public policy consulting

In summary, the USCOC is a large business chamber headquartered in Washington, DC that pays its top executives handsomely. The 13 most highly compensated employees received $24 million in compensation in 2023, which equates to an average compensation of $1.8 million. In addition, the organization paid for first class or charter travel, companion travel, health or social club dues or initiation fees, and for personal services.

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