Annual Report and Governance Documents

2010 Operating Expense Chart

2010 Operating Revenue Chart

2010 Annual Report

A summary (PDF, 6 MB) of the National Trust's work during 2010, including success stories and a list of contributors.

National Trust Tax ID Number

The National Trust Tax ID number is 53-021-0807.

Note From Our Chairman

A recent news report on the salaries of top executives at non-profits across the country included distorted information about then-National Trust president Richard Moe’s 2008 salary. The article, first published by MainStreet.com and later picked up by Newsweek and other outlets, reported that Mr. Moe earned a salary of $861,625 that year. While that number reflects Mr. Moe’s total compensation for the 2008 tax year, his actual salary for the period was $381,760. The balance reflected a one-time distribution from a deferred compensation retirement account that had accrued over 16 years, including investment returns. This unanticipated addition to Mr. Moe’s regular compensation resulted from changes in federal tax law requiring the National Trust to make the distribution. This information is clearly stated on the National Trust’s tax return but was ignored in the articles (at least as originally published), leaving readers with a misleading impression.

The report that inspired the news articles — put together by Charity Navigator — also contained useful comparison information about compensation levels at over 3,000 non-profit organizations across the country. In 2008, the median CEO salary at non-profits similar in size to the National Trust was $336,104 (lower than Richard Moe’s by about $40,000, but he had at that point been with the organization for 16 years). The same report also found that executive salaries at non-profits located on the East Coast were generally set at higher levels than those in other parts of the country.

The National Trust’s Board of Trustees is acutely aware of the need for nonprofit organizations to be responsible in ensuring that salaries paid to their executive officers are not inflated, but are reasonable given the responsibilities of the position, and in line with salaries paid by other organizations of similar size, scope, and scale. We believe that Mr. Moe’s compensation — for this period and at all other times — was reasonable and appropriate.

Cliff Hudson
Chairman, Board of Trustees