Real estate, book helped Rossi top $250k
Republican Dino Rossi is a richer man than he was when he last ran for governor four years ago. But he won't say how much richer, and it's impossible to glean from the public records that are available.
Seattle Times Olympia bureau
OLYMPIA — Republican Dino Rossi is a richer man than he was when he last ran for governor four years ago.
But he won't say how much richer, and it's impossible to glean from the public records that are available.
Democratic Gov. Christine Gregoire recently released her federal tax returns for the past three years. But, as in 2004, Rossi declined to release his returns.
"We've disclosed everything we need to disclose and by law are required to disclose, and that's what we're going to do," Rossi said. "Nothing more, nothing less."
Rossi is required under state law to file a "personal financial affairs statement" with the state Public Disclosure Commission. But those forms only require candidates and elected officials to report income ranges, not exact amounts. And the highest range is "$75,000 or more."
According to Rossi's latest filing, he had three separate sources of income last year in that top range and a fourth that brought in between $30,000 and $75,000. So, based on that, Rossi's total income was at least $255,000.
One of Rossi's more interesting sources of income last year was through Forward Books, a company he formed in late 2005 to publish his book, "Dino Rossi: Lessons in Leadership, Business, Politics and Life."
Rossi says he printed 15,000 copies of the book and has sold more than 13,000. The cover price is $23.95 and he sells signed copies for $33.95. Rossi sold some of the books online and at his frequent speaking engagements to business groups and Republican gatherings.
He sold about $9,100 worth of the books last year to his own Forward Washington Foundation. Forward Washington then gave them away to anyone who donated at least $100 to the foundation, which until last fall was paying Rossi an annual salary of $75,000.
Rossi also sold 1,000 copies — at the wholesale rate — to David Humphrey of Mercer Island, who resells them through his business consulting firm, ILD Global.
Still, Rossi says the bulk of his livelihood is through real-estate investments. The biggest addition to his portfolio since 2004 was a medical building in Mill Creek. Rossi says his 28 percent share in the $4.9 million building will bring in more than $75,000 in rental income this year.
Since 2004, he also became part owner of the Everett AquaSox minor-league baseball team and invested in a Spokane-based software-development company called NextIT.
Ralph Thomas: 360-943-9882 or firstname.lastname@example.org
Copyright © 2008 The Seattle Times Company
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