June 11, 2010
Dear Fellow Members,
Despite formidable challenges from an uncertain economy, we are pleased to report that your Guild remains financially strong and capable of pursuing our core objectives of effective contract enforcement, protecting WGA work jurisdiction and the improvement of writers' working conditions through collective bargaining.
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, 2010. Please note these highlights:
- The Guild ended the fiscal year with total net assets of $31million. The Guild owns its headquarters free of mortgage debt and our investments stand at $16.6 million, including a total of $10.5 million in our Strike and Good & Welfare Funds.
- The Guild had an operating surplus for the fiscal year of $4.5 million, which partially offset the deficits incurred in the last two fiscal years as a result of the 2007-08 strike and the world financial crisis.
- The operating surplus was primarily the result of three factors: a 12% aggregate increase in earnings for WGAW members; investment gains generated by a recovering equities market; and cost-containment measures undertaken by Guild management. Annual expenditures of $22.5 million were significantly lower than FY 2009's total of $26.0 million. The biggest contributor to these savings was a reduction in payroll expenses resulting from improved staff productivity and a significant departmental reorganization in the Spring of 2009.
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, as mandated by the WGAW Constitution. Among its duties, the committee oversees the annual audit process performed by the independent accounting firm of Miller, Kaplan, Arase & Co.
We look forward to reporting our financial performance to you throughout the year.
The Membership and Finance Committee
David N. Weiss (chair), Tony DeSena, Christopher Keyser, Adam Rodman and Alison Taylor
2009 Annual Report to Writers
2008 Annual Report to Writers
2007 Annual Report to Writers
2006 Annual Report to Writers
2005 Annual Report to Writers
2004 Annual Report to Writers
2003 Annual Report to Writers
2002 Annual Report to Writers
2001 Annual Report to Writers
2000 Annual Report to Writers
1999 Annual Report to Writers
1998 Annual Report to Writers