There is a NYSUT election in a few weeks. Has Stronger Together even touched on these issues in their election campaign? Has MORE raised these financials?
These EIA reports are not new. Here are the ones going back 2 years.
Monday, January 19, 2015
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
April 5, 2016
Written By: Mike Antonucci - Apr• 05•16New York State United Teachers is the teacher union equivalent of “too big to fail.” In 2014 NYSUT increased revenues by $3.7 million and cut staff costs by $17 million and still ran a deficit of almost $14 million. Its gargantuan negative net worth is due to holding staff pension and post-retirement health care liabilities of an astronomical $400 million.
Total membership – 388,875, up 3,309 members
Total revenue – $137.4 million (88.4% came from member dues), up $3.7 million
Deficit – $13.8 million
Net assets – negative $313 million
Total staff – 562
Staff salaries and benefits – $101.6 million
Highest paid employee – Richard Iannuzzi, former president – $254,353 base salary
Highest paid contractor – Herbert L. Jamison & Co. – $635,825