Screen Actors Guild Shows $12M Surplus
By Roger Armbrust
Friday, January 30 2004
Friday, January 30 2004
Published on AllBusiness.com
The Screen Actors Guild's latest financial report to the federal Labor Department shows SAG sporting a $12.2 million operating surplus during the last fiscal year.
The Labor Department posted the required report—a public record called an LM-2—on Jan. 15. The 118-page document lists SAG, for the fiscal year from May 1, 2002 to April 30, 2003, with receipts of $100.64 million and expenditures of $88.4 million.
That compares favorably to SAG's LM-2 report for the previous fiscal year, which revealed a deficit of nearly $9 million on receipts of $72.5 million and disbursements of $81.2 million.
Receipts for FY2003 included $33.98 million in dues, $6.8 million in fees, and $59.7 million in "other receipts." Those "other receipts" included $23.5 million for transfers from investments, $12.5 million in producer deposits, and $9.4 million in residuals received on behalf of members. The guild also received $3.8 million from New York producers and $248,000 from Florida producers. The SAG Awards show brought in $3.9 million.
Cash disbursements included $14.1 million for staff salaries and expenses; $14.6 million for office and administrative expenses; $5.8 million for the purchase of investments and fixed assets; $5.1 million in withholding taxes; $4.07 million in benefits; and $3.07 million in professional fees.
"Other disbursements," totaling $38.9 million, included $20.4 million for the transfer of investments; $9 million for producer disbursements; $4.2 million for residuals paid to members; and $2.7 million for the SAG Awards show.
Of the $14.6 million in office and administrative expenses, $5.8 million went for rent, $2.8 million for branch contract payments, and $1.1 million for postage and delivery.
Back Stage sent questions to SAG's communications department via email last Monday regarding the LM-2, including why the guild received $9.4 million in member residuals but paid out only $4.2 million. Ilyanne Kichaven, SAG's communications director, said she would try to get Peter Frank, SAG's chief financial officer, to answer the questions, but he hadn't responded by press time Tuesday evening.
SAG Salaries and Expenses
The guild's LM-2 was audited by PricewaterhouseCoopers, and signed by SAG National President Melissa Gilbert, who didn't date her signature, and by Treasurer James Cromwell, who dated his signing Oct. 18, 2003.
SAG's officers and board members don't receive pay for serving, but do receive expenses. The LM-2 listed total expense payments to officers and board members, also including some SAG members not on the board, at $276,389, an extensive drop from the previous
The Labor Department posted the required report—a public record called an LM-2—on Jan. 15. The 118-page document lists SAG, for the fiscal year from May 1, 2002 to April 30, 2003, with receipts of $100.64 million and expenditures of $88.4 million.
That compares favorably to SAG's LM-2 report for the previous fiscal year, which revealed a deficit of nearly $9 million on receipts of $72.5 million and disbursements of $81.2 million.
Receipts for FY2003 included $33.98 million in dues, $6.8 million in fees, and $59.7 million in "other receipts." Those "other receipts" included $23.5 million for transfers from investments, $12.5 million in producer deposits, and $9.4 million in residuals received on behalf of members. The guild also received $3.8 million from New York producers and $248,000 from Florida producers. The SAG Awards show brought in $3.9 million.
Cash disbursements included $14.1 million for staff salaries and expenses; $14.6 million for office and administrative expenses; $5.8 million for the purchase of investments and fixed assets; $5.1 million in withholding taxes; $4.07 million in benefits; and $3.07 million in professional fees.
"Other disbursements," totaling $38.9 million, included $20.4 million for the transfer of investments; $9 million for producer disbursements; $4.2 million for residuals paid to members; and $2.7 million for the SAG Awards show.
Of the $14.6 million in office and administrative expenses, $5.8 million went for rent, $2.8 million for branch contract payments, and $1.1 million for postage and delivery.
Back Stage sent questions to SAG's communications department via email last Monday regarding the LM-2, including why the guild received $9.4 million in member residuals but paid out only $4.2 million. Ilyanne Kichaven, SAG's communications director, said she would try to get Peter Frank, SAG's chief financial officer, to answer the questions, but he hadn't responded by press time Tuesday evening.
SAG Salaries and Expenses
The guild's LM-2 was audited by PricewaterhouseCoopers, and signed by SAG National President Melissa Gilbert, who didn't date her signature, and by Treasurer James Cromwell, who dated his signing Oct. 18, 2003.
SAG's officers and board members don't receive pay for serving, but do receive expenses. The LM-2 listed total expense payments to officers and board members, also including some SAG members not on the board, at $276,389, an extensive drop from the previous
