Washington Education Association’s Finances

The Washington Education Association has the most members it has ever had, cut its labor costs by more than $2.1 million to generate a budget surplus, and spent $1 million to pass a class size reduction initiative. So how can it be more than $21 million in the red? Simple. Its pension liabilities for its present and former staff total almost $48 million.

Total membership – 86,510, up 2,066 members

Total revenue – $35 million (86.3% came from member dues), up $739,000

Surplus – $2 million

Net assets – negative $21.5 million

Total staff – 194

Staff salaries and benefits – $15 million

Highest paid employee – John Okamoto, former executive director  – $227,740 base salary

Highest paid contractorFoster Pepper, attorneys – $581,553