Wednesday, February 07, 2007

Planned Parenthood's Riches

AIW has been analyzing the finances of Planned Parenthood of Western Washington (PPWW) and has discovered many fascinating things. The bottom line is that the bottom line of this "non-profit" organization might make oil executives blush.

Let's start with a picture:

This graph represents the revenues of PPWW from 1998 to 2005. This kind of revenue growth does not happen by accident. The number of clients has essentially followed this curve, correlated in large measure to the DSHS "Take Charge" program, which provides free birth control for a year to income-eligible clients, for which PPWW is a provider. This program has essentially enabled PPWW to use the government, and taxpayers' dollars, to serve as a massive marketing boondoggle.

More interesting numbers which paint the picture of PPWW's extraordinary financial health:
  • Net assets stand at nearly $36m.
  • Profits (not revenue) from the sale of "inventory" (i.e., birth control, perhaps morning-after pills) have skyrocketed from $0 just three years ago to an extraordinary $7m. This is on $2m of merchandise. In other words, they bought $2m of merchandise, and turned around and sold it for $9m, pocketing $7m in pure cash.
  • In 2004, PPWW took in almost $30 million for a net profit of $5m, boosting total net worth of $33m.
  • In 2005, they took in almost $34m for a net profit of almost $4m, accumulating a total net worth of $36m.
  • Not included in the 2004 profit numbers was $4m in unrealized stock market gains alone.
  • In their 2005 annual report, the number of pregnancy-related client visits dropped slightly, but the number of abortions performed jumped from 6,200 in 2004, to just over 7,000 in 2005. In other words, they improved their (abortion) sales conversion rate from 17% to 20%.
  • PPWW gets about $3m from various levels of government each year.
  • They get $5m-$6m in donations annually.
  • In 2004, PPWW spent over $1 million on payroll taxes alone.
-- FormerFoetus

1 comment:

Anonymous said...

This makes me weep...along with the other figures - how my money, my tax money is going to destroy can I keep from shouting???