June 7, 2013
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 statements and a summary of industry and employment data for the fiscal year ending March 31, 2013. These are the headlines:
- The Guild ended the fiscal year with total net assets of $39 million. The Guild owns its headquarters free of mortgage debt and has unused lines of credit totaling $15 million. Our investments stand at $22.4 million, including a total of $13.8 million in our Strike and Good & Welfare Funds.
- The Guild had an operating surplus for the fiscal year of $4.5 million based on total revenues of $28.8 million, up from $26.1 million last year. The surplus was the product of a 10.1% 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.
- Annual expenditures of $24.3 million were slightly higher than FY 2012's total of $23.3 million. This modest increase resulted from higher staffing levels within an overall context of fiscal discipline.
- The supplemental schedule on page 24 reflects that the Guild's Foreign Levies Program distributed $17 million to writers and 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.
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, Adam Rodman and Ari B. Rubin
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