Hand over fist
While crying poverty, most California Planned Parenthood affiliates show dramatic increases in assets over last five years
(Editor's note: This is the second in an ongoing series about the finances of the nine Planned Parenthood affiliates in California. Unless otherwise noted, the information comes from IRS Form 990, an annual report required by the IRS for tax-exempt non-profits. Check back periodically for a new installment in the series.)
Since the fiscal year ending June 30, 2003, most Planned Parenthood affiliates in California have shown substantial growth in net assets, according to federal tax statements. The considerable increase in assets came despite repeated appeals to the state legislature for financial relief, as the abortion providers claimed they were turning away thousands of patients for lack of funds. The growth in Planned Parenthood net assets came despite massive spending on their part to defeat three parental notification initiatives during the same time period. Planned Parenthood spent $5.5 million toward the defeat of Proposition 73 in 2005, $6.4 million toward the defeat of Proposition 85 in 2006, and nearly $9.3 million to defeat Proposition 4 in 2008.
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