Download the 2022 Annual Report

June 29, 2022

Dear Fellow Members:

This year’s financial report comes as the Guild and the industry begin to emerge from the COVID-19 pandemic. While the pandemic is not over, and its full effect will take years to assess, there are signs of a return to normal. The Guild Theater reopened in March. In May, Guild staff returned to in-person work on a hybrid schedule. And while managing a union during the pandemic certainly posed challenges, the Guild’s overall financial condition remains strong as we head into the 2023 MBA negotiations.

In this booklet, you will find the WGAW’s financial statements and a summary of industry and employment data for the fiscal year that ended March 31, 2022. Here are some highlights:

  • The Guild ended the fiscal year with total net assets of over $92.2 million. The Guild owns its headquarters located at the corner of Third Street and Fairfax Avenue.
  • The Guild had an operating surplus for the fiscal year of $4.5 million based on total revenues of $38.9 million, down from $46.1 million in the last fiscal year. The decline in total revenue is attributable to weak equity markets that resulted in an unrealized investment loss of $0.2 million, compared to last year’s gain of $8.8 million. Member dues revenue (which includes dues on earnings and residuals as well as initiation fees) of $33.4 million was higher than FY 2021’s total of $31.4 million.
  • Annual expenditures of $34.4 million were lower than FY 2021’s total of $36.2 million. The decrease in total expenditures was the result of a number of factors: the successful end of the agency campaign, reduced expenses for in-person events limited by COVID restrictions, and a higher than usual number of vacancies in budgeted staff positions.
  • The supplemental schedule on page 17 reflects that the Guild’s Foreign Levies Program distributed $15.1 million to writers and heirs during the last fiscal year, bringing the total amount disbursed to $290.6M since the program began in 1992. The program currently collects royalties in 21 countries in Europe and South America. This annual review is also posted on the Foreign Levies page of the Guild’s website, where you will also find other information about the program.

We publish this financial information each year in the interest of transparency and a fully 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.

Sincerely,

The Membership and Finance Committee

Betsy Thomas (chair), Patti Carr, Tony DeSena, Carleton Eastlake, and Peter Murietta


2021 Annual Report to Writers
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2019 Annual Report to Writers
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