Franken, a Democrat who hopes to challenge Minnesota Sen. Norm Coleman next year, listed a salary of just over $1 million last year from his corporation, Alan Franken Inc.
That corporation is the business entity that provides Franken's services — such as speaking engagements and his prior service on Air America Radio — and then pays Franken a salary at the end of the year after commissions, taxes and other fees are paid, said his campaign spokesman, Andy Barr.
The disclosure reports require figures to be reported only in broad ranges. Barr said that Franken's net worth is closer to $4.3 million than $9.9 million.
Even on the low end, that would easily eclipse Coleman, a Republican who listed only an IRA rollover valued at $564,000 in his assets. Coleman's report voluntarily provided the exact market value.
Franken, a former "Saturday Night Live" writer and performer, lists assets including mutual funds, municipal bonds in New York and Minnesota, bank accounts and Alan Franken Inc. Most are owned jointly with his wife, Franni. Alan Franken Inc. is valued at between $500,000 and $1 million.
The report also lists a few dozen sources of compensation of at least $5,000, including "Saturday Night Live" residuals; film residuals for the movie "When a Man Loves a Woman," which Franken co-wrote with Ron Bass; and speaking engagements. Those fees were all paid to Al Franken Inc., Barr said.