Writers Guild of America, West, Inc.
Download the 2011 Annual Report
June 11, 2011
Dear Fellow Members,
We are pleased to present the Guild’s annual financial report. The information in this booklet reflects that, despite the challenges posed by a recovering economy, the Guild remains financially stable and strong. In April, WGA East and West members overwhelmingly ratified the 2014 MBA, providing for significant increases in contributions to our pension plan, increased minimums, and an improved pay TV residuals formula.
In this annual report, you will find the WGAW’s financial statements and other relevant industry and employment data for the fiscal year ending March 31, 2011. Please note these highlights:
- The Guild ended the fiscal year with total net assets of $31.6 million. The Guild owns its headquarters free of mortgage debt and our investments stand at $17.5 million, including a total of $11.9 million in our Strike and Good & Welfare Funds.
- The Guild had an operating surplus for the fiscal year of $0.7 million based on total revenues of $25.3 million, up from $23.7 million last year. The increased revenues were the product of a modest 1.5 percent increase in total dues revenue and investment gains generated by a recovering equities market.
- Annual expenditures of $24.6 million were also higher than FY 2010’s total of $22.5 million. The biggest contributor to this increase was a one-time charge for legal expenses in connection with the foreign levies settlement, which became final in September 2010.
We present this annual report to keep you informed of the Guild’s financial condition. Your Membership and Finance Committee is made up of five members appointed by the Board of Directors. The Committee oversees the annual audit conducted by the independent accounting firm of Miller, Kaplan, Arase & Co., LLP, whose report is contained in this booklet.
The Membership and Finance Committee
David N. Weiss (chair), Tony DeSena, Christopher Keyser, Adam Rodman, and Alison Taylor
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