June 8, 2012
Dear Fellow Members,
We are pleased to present the Guild's annual financial report. This year's report reflects that, as the economy continues its slow recovery from a deep recession, the Guild remains financially sound and strong.
In this booklet, you will find the WGAW's financial statements and a summary of industry and employment data for the fiscal year ending March 31, 2012. These are the headlines:
- The Guild ended the fiscal year with total net assets of $34.4 million. The Guild owns its headquarters free of mortgage debt and our investments stand at $19.6 million, including a total of $12.2 million in our Strike and Good & Welfare Funds.
- The Guild had an operating surplus for the fiscal year of $2.8 million based on total revenues of $26.1 million, up from $25.3 million last year. The increased revenues were the product of a 3.1% increase in total revenue and investment gains generated by a recovering equities market.
- Annual expenditures of $23.3 million were lower than FY 2011's total of $24.6 million. The biggest contributor to this decrease was lower legal expenses in FY 2012.
- This year's financial statement contains a new feature: a supplemental schedule, prepared by the Guild's auditors, summarizing the financial activities of the Guild's Foreign Levies Program during the fiscal year just ended. This annual review is also posted on the Foreign Levies page of the Guild's website, www.wga.org/foreignlevies, along with other information about the program, which has distributed more than $121 million to writers and heirs since 1993.
We publish this financial information each year in the interest of transparency and to ensure an informed membership. The Membership and Finance Committee is a constitutional body, 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 LLP, whose report is contained in this booklet.
The Membership and Finance Committee
Carl Gottlieb (chair), Marjorie David, Tony DeSena, Adam Rodman and Ari B. Rubin
2011 Annual Report to Writers
2010 Annual Report to Writers
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