New York State United Teachers’ Finances

New 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