USTelecom’s McCormick’s $1.87 Million Tops Assn. Executives
USTelecom Pres. Walter McCormick apparently is the highest paid communications association executive in Washington, according to the latest available Form 990 filings at the IRS. McCormick received a large increase in total compensation for calendar year 2004 - the year of all information in this article - to $1.87 million from $1.3 million in 2003 (CD Oct 17 p5). USTelecom reported revenue of $36.73 million in 2004, expenses of $33.67 million, with salaries totaling $4.89 million.
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At MPAA, Jack Valenti, who retired as pres. in 2004, was paid $1.16 million salary for the 7 months he served, plus $1.17 million “retirement benefits.” At retirement he was due an additional $8.71 million in deferred compensation and severance benefits “earned, but not paid,” according to Form 990. Valenti’s successor Daniel Glickman was paid $423,490 for his 5 months as MPAA chairman in 2004.
MPAA reported $56.74 million revenue for the year, short of its expenses of $56.97 million. Of the latter, $10.1 million went to the worldwide fight against movie piracy -- up from $8.4 million in 2003 - and $7.26 million to lobbying expenses of $7.26 million, up from $5.8 million.
CEA compensation of executives in 2004 totaled $8.95 million, with Pres. Gary Shapiro receiving $753,191. CEA reported revenue of $55.12 million, expenses of $53.46 million.
RTNDA reported a deficit of $50,183 for 2004, with revenue of $2.75 million, expenses of $2.8 million. Pres. Barbara Cochran received $244,255 in salary and other benefits.
The Newspaper Assn. of America paid Pres. John Sturm, a former FCC and NBC official, $957,536 in salary and other benefits during calendar 2004. The Assn. reported $29.44 million revenue -- $20.48 million of that in dues from newspaper members - and expenses of $28.3 million.