According to its 2010 report to the labor department, national AFGE has $47,246,000 in assets and $67,172,00 in liabilities, meaning it is $20 million in the hole.
In contrast, the federation’s locals and councils collectively have over $65 million in net assets (total assets minus total liabilities).
The following chart shows the actual reported assets and liabilities for each local and council with more than $200,000 in the bank, and then estimates of total assets for the groups of locals with between $100,000 and $200,000, with between $50,000 and $100,000, and with between $0 and $50,000. In each of those groups the actual liabilities for its components are added up. For each group and for the total, the net assets are the assets minus liabilities. To see the chart, click on the following:
I plan to discuss the significance of this in later blogs.
