Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $148,519

• 1f · All other contributions, gifts and grants

  $91,055,577

• 1g · Noncash contributions included above

  $5,493,656

• 2a · Program service revenue: Storytelling & Outreach

  total $2,447,582 · related or exempt $2,447,582

• 2b · Program service revenue: Education

  total $346,479 · related or exempt $346,479

• 2c · Program service revenue: Science & Innovation

  total $331,910 · related or exempt $331,910

• 2d · Program service revenue: Other misc. programs

  total $97,334 · related or exempt $97,334

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $39,504,672 · unrelated business $150,000 · excluded $39,354,672

• 5 · Royalties

  total $24,295,686 · excluded $24,295,686

• 6a · Gross rents

  real property $19,874,976

• 6b · Less rental expenses

  real property $26,319,996

• 6c · Rental income or loss

  real property -$6,445,020 · personal property $0

• 6d · Net rental income or loss

  total -$6,445,020 · excluded -$6,445,020

• 7a · Gross sales of assets other than inventory

  securities $771,867,013

• 7b · Less cost or other basis and sales expenses

  securities $691,668,584

• 7c · Gain or loss

  securities $80,198,429 · other assets $0

• 7d · Net gain or loss

  total $80,198,429 · excluded $80,198,429

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,218,299 · program services $8,218,299

• 2 · Grants to domestic individuals

  total $6,249,013 · program services $6,249,013

• 3 · Grants to foreign organizations and individuals

  total $20,403,234 · program services $20,403,234

• 5 · Compensation of officers, directors and key employees

  total $7,160,010 · program services $5,351,742 · management and general $1,678,227 · fundraising $130,041

• 7 · Other salaries and wages

  total $56,862,729 · program services $42,501,983 · management and general $13,327,995 · fundraising $1,032,751

• 8 · Pension plan contributions

  total $2,161,783 · program services $1,615,822 · management and general $506,698 · fundraising $39,263

• 9 · Other employee benefits

  total $8,474,684 · program services $6,334,393 · management and general $1,986,372 · fundraising $153,919

• 10 · Payroll taxes

  total $5,011,794 · program services $3,746,060 · management and general $1,174,709 · fundraising $91,025

• 11b · Fees: legal

  total $795,675 · program services $615,609 · management and general $125,508 · fundraising $54,558

• 11c · Fees: accounting

  total $474,554 · management and general $474,554

• 11d · Fees: lobbying

  total $4,467 · program services $4,467

• 11e · Fees: professional fundraising services

  total $5,453,356 · fundraising $5,453,356

• 11f · Fees: investment management

  total $6,238,338 · program services $4,739,889 · management and general $1,236,439 · fundraising $262,010

• 11g · Fees: other

  total $0 · program services $0 · management and general $0 · fundraising $0

• 13 · Office expenses

  total $1,665,197 · program services $1,288,354 · management and general $262,664 · fundraising $114,179

• 14 · Information technology

  total $2,199,195 · program services $1,927,811 · management and general $189,158 · fundraising $82,226

• 16 · Occupancy

  total $5,333,060 · program services $904,000 · management and general $4,328,060 · fundraising $101,000

• 17 · Travel

  total $8,202,128 · program services $6,718,100 · management and general $494,676 · fundraising $989,352

• 19 · Conferences, conventions and meetings

  total $262,088 · program services $202,776 · management and general $41,341 · fundraising $17,971

• 20 · Interest

  total $5,069,459 · program services $3,922,213 · management and general $799,644 · fundraising $347,602

• 22 · Depreciation, depletion and amortization

  total $5,254,000 · program services $776,000 · management and general $4,411,000 · fundraising $67,000

• 23 · Insurance

  total $1,591,302 · program services $1,231,182 · management and general $251,008 · fundraising $109,112

• 24a · Other expenses: Programming and Marketing Costs

  total $15,465,000 · program services $10,458,000 · management and general $5,007,000 · fundraising $0

• 24b · Other expenses: Professional Fees

  total $40,120,000 · program services $34,212,000 · management and general $5,908,000 · fundraising $0

• 24c · Other expenses: Other

  total $67,872 · fundraising $67,872

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

• 26 · Joint costs (an allocation of the lines above)

  total $14,940,114 · program services $6,884,142 · management and general $5,799,760 · fundraising $2,256,212

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $74,546,829 · end of year $74,435,917

• 3 · Pledges and grants receivable

  beginning of year $32,384,454 · end of year $60,222,514

• 4 · Accounts receivable

  beginning of year $10,244,615 · end of year $9,200,692

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $17,795,000 · end of year $14,870,000

• 8 · Inventories for sale or use

  beginning of year $162,929 · end of year $36,985

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,501,225 · end of year $7,234,931

• 10a · Land, buildings and equipment: cost or other basis

  $215,454,529

• 10b · Land, buildings and equipment: accumulated depreciation

  $94,895,354

• 10c · Land, buildings and equipment, net

  beginning of year $89,074,632 · end of year $120,559,175

• 11 · Investments: publicly traded securities

  beginning of year $518,927,000 · end of year $470,438,000

• 12 · Investments: other securities

  beginning of year $1,030,479,540 · end of year $1,105,656,215

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $9,557,492 · end of year $10,076,367

• 17 · Accounts payable and accrued expenses

  beginning of year $25,248,074 · end of year $26,759,198

• 18 · Grants payable

  beginning of year $3,923,580 · end of year $4,325,331

• 19 · Deferred revenue

  beginning of year $2,473,511 · end of year $2,033,848

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $250,000,000 · end of year $250,000,000

• 25 · Other liabilities

  beginning of year $41,212,123 · end of year $37,072,732

• 27 · Net assets without donor restrictions

  beginning of year $1,258,742,419 · end of year $1,310,796,869

• 28 · Net assets with donor restrictions

  beginning of year $209,074,009 · end of year $241,742,818

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

The Society only reimburses for first class travel under rare circumstances. In 2023, the Society reimbursed one key employee and her spouse for first class travel on one trip which was deemed to be in support of the Society's mission.

Schedule J, Part I, Line 1a Travel for companions

The Society pays for companion travel for certain executives, only when there is a business purpose to support the charitable mission of the organization and adheres to the Society's travel policies. The Society paid for eight such companion trips in 2023. Companion travel not meeting this criteria are deemed taxable under Internal Revenue guidelines. The Society paid for and taxed two such companion trips in 2023.

Schedule J, Part I, Line 4a Severance or change-of-control payment

THE FOLLOWING FORMER OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES RECEIVED SEVERANCE PAYMENTS IN 2023: Robert Young--$264,773 (the above payments were not accrued in 2022) In addition, the following severance amounts to former officers were accrued at year end: Robert Young--$109,669 Michael Ulica--$644,175

Schedule J, Part II NONTAXABLE BENEFITS

Components of benefits and deferred compensation provided to certain executives: life insurance, parking, 401(k), 457(b), dental & medical insurance, long-term disability, and travel/accident insurance. Below is a summary of all officers or key employees who had a severance clause in their respective employment contracts in 2023. These severance amounts are solely contingent upon an employee's involuntary termination without cause from the Society. As such, these amounts were not accrued or funded in any way and were considered unlikely to occur and did not occur in 2023. None of these amounts have been included in Column D. Jill Tiefenthaler - 1 times base salary

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• NG URL HOLDING LLC

  HOLDING COMPANY · DC · income $0 · assets $0

  Directly controlled by NATIONAL GEOGRAPHIC SOCIETY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• NGSP INC

  C Corporation · HOLDING CO. · DC · 100% owned · share of income $56,943,720 · share of assets $1,076,300,615 · controlled entity

  Directly controlled by NATIONAL GEOGRAPHIC SOCIETY