by Steven Ertelt
June 8, 2007
Washington, DC (LifeNews.com) — In their public relations campaigns and efforts to appear more moderate, Planned parenthood claims that they are much more than an abortion business. However, Planned Parenthood’s latest annual report reveals it made $902.8 million dollars from 2005-2006 and did 264,943 abortions.
The pro-abortion group released its latest annual report on Wednesday and the money it made in the last fiscal year is a new record and a 2.4 percent increase from the year before.
Planned Parenthood reported total revenue increases of 10.7 percent, 5.7 percent and 8.9 percent in its previous three years and the non-profit group’s moneymaking efforts don’t appear to be stopping anytime soon.
Jim Sedlak, who heads a Planned Parenthood watchdog group, says Planned Parenthood again took in more money than it needed to operate. It reported "excess of revenue of expenses" of $55.8 million for the fiscal year.
"This marks the 34th year in a row that Planned Parenthood has reported "excess revenue" — otherwise known as profit," Sedlak said. "Over the years, Planned Parenthood has reported total profits of over $700 million. It has amassed a treasure chest of assets worth $839.8 million."
Sedlak estimates that about $112.6 million, or 32.5 percent of the income its facilities generate, comes from doing abortions.
Planned Parenthood generates income from fees charged by its businesses, donations from corporations, foundations and individuals, and taxpayer funds obtained from the state and federal government.
This was the first year in decades that the income generated from its facilities declined, as it was $1.5 million less than last year.
"We have checked our files of Planned Parenthood annual reports back to the 1950s, and cannot find another year in which clinic income went down," Sedlak said.
"We understand that a fall of $1.5 million out of $345 million is not earthshaking. We also understand that a one-year dip may be an anomaly and not a trend. But it was a decline — the first clinic income decline in the last 50 years. It couldn’t have made Planned Parenthood very happy," he explained.
The report also showed donations were down $3.6 million compared with figures from the previous fiscal year.
The annual report showed that Planned Parenthood reported receiving taxpayer funds totaling $305.3 million — a whopping $32.6 million (12 percent) more than last year. As a result, taxpayer money now accounts for 34 percent of Planned Parenthood’s income.
‘The bottom line is that Planned Parenthood is losing donations, its clinic income is down and you and I are being forced to pay more so the organization can kill our children through abortion and spread its perverted ideology throughout the land" Sedlak said.
"It is really incredible when you realize that Planned Parenthood put every penny of the increased taxpayer money into the bank. It got $32 million extra and then reported a $55 million profit. Something is wrong here," he added.
Incredibly, Planned Parenthood is looking for more money.
Planned Parenthood in California is fighting for increased Medi-Cal reimbursement rates even though its nine affiliates have received over $270 million in taxpayer money since 1998 and have total profits of over $83 million during that time.
"It is time to put a stop to this. It is clear that the politicians, left alone, are not going to cut off the money. It will take action from average American citizens — you and me — who are fed up with funding this outrageous organization," Sedlak concluded.