June 6, 2014
Dear Fellow Members:
We are pleased to present the Guild's annual financial report. It is a positive picture. The Guild remains financially strong, with growing revenues and a significant operating surplus.
In this booklet, you will find the WGAW's financial statement for the fiscal year ending March 31, 2014, along with a summary of employment data and a description of the Guild's contract enforcement efforts over the last year. These are the highlights:
- The Guild ended the fiscal year with total net assets of $45 million. Our investments stand at $24.6 million, including a total of $15.7 million in our Strike and Good & Welfare Funds.
- The Guild had an operating surplus for the fiscal year of $5.9 million based on total revenues of $29.8 million, up from $28.8 million last year. The surplus was the product of a 3.4% growth in total revenue, attributable to an overall increase in writer compensation, led by the television sector, and investment gains generated from a strong equities market. Total expenditures declined slightly. growth in total revenue, attributable to an overall increase in writer compensation, led by the television sector, and investment gains generated from a strong equities market.
- The supplemental schedule on page 25 reflects that the Guild's Foreign Levies Program distributed over $13 million to writers and their heirs during the last fiscal year. 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.
- The Guild's contract enforcement efforts yielded record collections during the fiscal year, including a comprehensive settlement of claims for unpaid Nickelodeon residuals totaling over $10.5 million.
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), Tony DeSena, Carleton Eastlake, Cynthia Riddle and Adam Rodman
2013 Annual Report to Writers
2012 Annual Report to Writers
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