The mainstream media often obsess about the profit margins of "Big Oil" companies. We at NewsBusters and our friends at the MRC's Business & Media Institute have frequently documented how the media view the petroleum industry in a particularly fiendish manner at the very worst and a highly skeptical light at best.
So surely the MSM will have just as much outrage when there's a corporation that receives from the taxpayer what literally amounts to blood money, and, to top it off, has a very healthy profit margin, right?
Unlikely if the name of that corporation is Planned Parenthood:
(CNSNews.com)* - Despite a drop in donations and the first fall in income from clinics in its history, the nation's biggest abortion provider made a high profit last year, thanks to the American taxpayer. Pro-lifers want this to stop.
During its 2005-2006 fiscal year, the Planned Parenthood Federation of America performed a record 264,943 abortions, attained a high profit of $55.8 million and received record taxpayer funding of $305.3 million.
According to its annual report, income is divided roughly into three major categories: clinic income (fees charged to customers at clinics); donations (gifts from corporations, foundations and individuals); and taxpayer money (grants and contracts from federal, state and local government).
For the year July 1, 2005, through June 30, 2006, Planned Parenthood received $345.1 million in clinic income, $305.3 million in taxpayer funding and $212.2 million in donations. Total income reached $902.8 million while total expenses came to $847.0 million, leaving a profit of $55.8 million.
Numerous calls to Planned Parenthood offices in both New York City and Washington, D.C., seeking comment for this article,were not returned, but a statement on the organization's website says that the report "illustrates the achievements of an organization founded to prevent unintended pregnancy and protect women's health and safety."
*CNSNews.com is a owned by the parent organization of NewsBusters, the Media Research Center.
