Jeffrey Morgan, president and CEO of the National Investor Relations Institute, Alexandria, Va., since 2007, is moving to the Club Managers Asociation of America, Alexandria, on Oct. 12 as CEO.
Chair John Chevalier heads the CEO search committee for NIRI, the largest group of IR professionals with more than 3,300 members representing 1,600 publicly held companies with $9 trillion in stock market capitalization.
Morgan is a Certified Assn. Executive of the American Society of Assn. Executives and also is a Fellow of the ASAE.
"I am excited by the opportunity to lead CMAA an build upon the success that the organization has enjoyed," said Morgan. "I am confident that we will continue to develop and promote the high standards of professionalism, leadership and education our members expect."
NIRI finished 2012 with $6,452,130 in net assets, a gain of $106,945 from the previous year. Assets include $4,943,496 in investments.
Morgan's 2012 package included $329,257 in salary and $57,949 in “other compensation.” The association’s IRS Form 990 for 2012 was filed on Sept. 25, 2013. EIN is 54-1758790. Spencer Stuart assisted in the search for Morgan, which included interviewing nearly 200 candidates.
He will succeed retired CMAA CEO James Singerling who had pay of $457,375 plus $27,890 in other compensation for the year ended Oct. 31, 2012. The 990 tax form was filed June 21, 2013 and is the latest available on Guidestar. CMAA EIN is 53-0235732.
CMAA had revenues of $7,922,730 in the 2012 tax year, down from $8,338,207. It lists total assets as $3,416,635 and liabilities as $4,815,550, giving it negative net assets of minus $1,398,915. CMAA owns its building which is kept on the books at $2.1 million although the last appraisal was $6 million. There is at least a $4 million increase in current net assets which turns the negative equity into positive equity, CMAA said.
The group lists as a liability $3,376,082 in deferred revenue. It had $1,302,550 in savings and cash at the end of the year and $479,246 in investments.
CMAA has 6,500 members including managers of 2,500 country clubs, athletic facilities, city, military, town and yacht clubs. It has 45 chapters and 45 student chapters and estimates the club industry has $19 billion in revenues.
PR Society, IABC also Change Top Staffers
NIRI joins the PR Society in seeking a new CEO. Bill Murray, CEO of the Society since 2007, resigned March 7, 2014, effective June 1.
The sudden resignation caught the Society by surprise since it was nearly two months before a search committee was named.
Reports are that the Society will delay picking a new CEO until after the conference in Washington, D.C., Oct. 11-14.
Murray’s last known pay package (2012) totaled $423,000.
The search committee is again seeking a CAE. Murray also held that designation.
The Society has released its audit for 2013 but is withholding IRS Form 990 which would show the pay packages of the top seven staffers receiving more than $100,000. It has withheld this document from the Assembly for the past three years and indications are it will do that again this year.
The Society, unlike CMAA, books $5.1 million in dues as cash with the exception of $307,305 earmarked for its two publications.
Carlos Fulcher, CAE, joined the International Assn. of Business Communicators in June as executive director. He succeeded Christopher Sorek who resigned the previous June after one year in the post. Sorek had announced the firing of 16 of the 32 IABC staffers shortly after he arrived in June 2012.
IABC, which reports its finances to members each June, six months after the close of the fiscal year, has yet to file its Form 990 to the IRS for 2013. It filed its last return after Nov. 15, 2013, the legally required date.