A freedom of information request has made public the 2024 financial report of Israel's Teachers' Union, offering a rare look at the finances of an organization representing about 170,000 teachers and kindergarten teachers. The report, first disclosed by the Movement for Freedom of Information to the Justice Ministry and published by Globes, shows net assets of roughly 470 million shekels.
Most of that value comes from the union's holdings in Bank Massad through Massad Holdings and from Ashmoret, its wholly owned consumer company. Ashmoret is valued at about 435 million shekels, largely because of its own stake in Bank Massad. The union also holds tradable securities, mainly government bonds, worth about 53.8 million shekels.
The report says the union recorded net income of 126.3 million shekels in 2024, up from 57.6 million in 2023. Membership dues from teachers and retirees brought in 111.3 million shekels. It also notes that some historic real estate assets are carried at symbolic accounting values, with land and buildings listed at only 15.4 million shekels, which may not reflect market value.
Operating and general expenses for the union and bodies it controls rose to about 21.7 million shekels in 2024, compared with 18.2 million a year earlier. The report also details executive pay, including two executive committee members who each earned about 650,000 shekels a year, roughly 54,000 shekels a month, another who earned 298,000 shekels, and six senior employees who made between 449,000 and 659,000 shekels annually. The state transferred about 200 million shekels to the union and related bodies during 2024, for uses including the teachers' welfare fund, the
