Mike Antonucci has been doing rundowns of each state union's finances. Calling NYSUT "Too big to fail" one wonders who will bail them out? Maybe their old pal Cuomo.
You'll notice Richard Iannuzzi is still listed as president because this is last year's report.
Posted: 19 Jan 2015 08:52 AM PSTNew York State United Teachers appears to be too big to fail. Though it raised an additional $1.6 million in revenue, it spent an additional $14 million in staff compensation. The union spent more than 125 percent of its income, contributing to a negative worth of more than $233 million. NYSUT holds more than $305 million in pension and post-retirement health care liabilities for its staff and former employees.
Total membership – 385,566, down 3,781
Total revenue – $133.7 million (88% came from member dues), up $1.6 million
Budget deficit – $34.3 million
Net assets – negative $233.6 million
Total staff – 575
Staff salaries and benefits – $118.6 million
Highest paid employee – Richard Iannuzzi, president, $253,353 base salary
Highest paid contractor – Buchbinder, Tunick & Company, $244,536