Thursday, December 16, 2010

Planned Parenthood finally releases annual report

Planned Parenthood's web site finally has their 2008-2009 annual report. The financial information is on pages 28-29. The report doesn't include a listing of services and how many were performed in the last year like previous reports. Instead, on page 6 there is a small pie chart which lists 10.943,609 total services and then breaks the services up into slices.

The most notable information I found is that Planned Parenthood lost $78.1 million in one year on investments. The national office lost $10 million and the affiliates $68.1 million. If not for these bad investments, Planned Parenthood would have made a profit of $63.4 million.

In January of 2009, Crain's New York reported that Planned Parenthood laid off a large number of staffers because one of their funder's assets were managed by Bernie Madoff.
Part of Planned Parenthood’s funding declines stem from the closing of the Florida-based Picower Foundation, which shut down in December because its assets were managed by Bernard Madoff. The $1 billion foundation was one of the few major funders of reproductive rights issues.
I wonder if Planned Parenthood also invested money with Madoff.

The report also notes were PP's money comes from: Government grants and contracts totaled $363.2 million, clinic income was $404.9 million and private donations came to $209.2 million. Planned Parenthood's total revenue topped $1.1 billion.

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