by Steven Ertelt
June 9, 2006
Washington, DC (LifeNews.com) — More information is coming forward from examinations of the annual reports for the Planned Parenthood Federation of America. The reports show Planned Parenthood continues to be the leading abortion business in the country — doing more abortions than any other company.
As LifeNews.com previously reported, Planned Parenthood, a supposedly nonprofit organization, brought in $882 million in FY 2004-2005 a whopping increase of 8.9 percent over the previous reporting period. The abortion business made $63 million in profit last year.
New information shows Planned Parenthood, as of June 2005, had net assets valued at $784.1 million, of which $302.1 million is unrestricted. PPFA has another $107.6 million that is temporarily restricted.
“This is essentially a savings account,” Douglas Scott of Life Decisions International, a watchdog group for corporations that contribute to Planned Parenthood, explained. “It is money that Planned Parenthood could choose to spend at any time. But for now it is sitting drawing interest.”
Despite sitting on a huge nest egg of hundreds of millions, the abortion business is still working overtime to get state and federal tax dollars. Nearly one-third of its income ($272.7 million) comes from American taxpayers.
“Despite these huge sums that Planned Parenthood cannot seem to find a use for, the corporation’s hierarchy incessantly claims to need more tax dollars,” Scott said.
The annual report shows Planned Parenthood did 255,015 abortions in 2004 alone (up 4.3% from 2003), generating an estimated $95 million. A scant 1,414 customers were referred to adoption agencies; down more than 20% from 2003.
The figures show Planned Parenthood continues to be the largest abortion business in the United States. In 1984, it did about 5.5 percent of all abortions nationwide, but the figure has increased to nearly 20 percent as of 2004.
Meanwhile, Planned Parenthood says it has sold 983,537 “emergency” birth control kits in 2004 (nearly 21.3% more than in 2003). The kits contain the morning after pill drug, also known as Plan B, which can sometimes cause an abortion.
Scott pointed out that the release of the latest annual report was delayed for six months, compared to the normal release date.
“This is probably because it took a long time for Planned Parenthood to count so much money,” Scott said.
Related web sites:
Life Decisions International – https://www.fightpp.org