A picture of Big Bird looking sad alongside an article title “Why Does Big Bird look so Sad?” With the subheading “Sesame Workshop, the nonprofit behind “Sesame Street” is confronting what executives have described as a “perfect storm” of problems.”
Text against an orange backdrop that reads: “Sesame Workshop cut about 20 percent of its staff, or nearly 100 people, a few weeks ago. Without the cost cuts, the organization would face a deficit of nearly $40 million next year, according to internal documents reviewed by The New York Times. Even with the cuts, it has had to draw $6 million from its investment fund for the first time in more than a decade to help cover some of the budget shortfalls.”
Article text with a financial document below it. The article text reads: “Sherrie Westin, a 27-year veteran of Sesame Workshop who became chief executive last year, acknowledged in an interview that the nonprofit faced a new economic reality but said she was “confident we will be able to sustain this work.”
“This is not a rejection of ‘Sesame Street’, and ‘Sesame Street’ is not going away,” she said. “But we absolutely have a responsibility to change as the world-“
The financial document below the text is from a 2023 990 form that states CEO Steve Youngwood’s compensation as $1,022,143 and then President Sherrie Westin’s as $864,748
An article text with a financial document below it. The article text reads:
“But it paid off financially. Even as recently as 2022, Sesame Workshop generated $271 million in revenue and more than $20 million in profit, according to financial forms”
The financial document (2023 990 Form) below the article text states reconciliation of net assets. The total net assets is “$439,021,078” and appears large and encircled
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Why does Big Bird look so sad?
We can’t be sure but it could have to do with #sesameworkshop management denying workers severance with $439,021,780 in assets
(The financial data included is pulled from our most recent 990 tax form, published on sesameworkshop.org)
#sesameworkersunion