Virginia Education Association’s Finances

The Virginia Education Association has lost more than 18 percent of its membership since 2007-08, but was able to reduce staff costs by $1.2 million, resulting in a surplus. VEA does, however, hold $7.3 million in pension liabilities.

Total membership – 50,501, down 2,243 members

Total revenue – $12.8 million (84.1% came from member dues), down $320,000

Surplus – $1.4 million

Net assets – $2.3 million

Total staff – 118

Staff salaries and benefits – $7.8 million

Highest paid employee – Philip Forgit, executive director  – $117,600 base salary

Highest paid contractor – None received more than $100,000

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