NEW YORK (BP)–Planned Parenthood Federation of America, the country’s leading abortion provider, has cut the staff of its national headquarters by about 20 percent, partly as a result of a loss of funds related to the Bernard Madoff scandal, Crain’s New York Business reported. Madoff was charged in December with fraud that cost investors $50 billion.
Part of PPFA’s money woes resulted from the closing of the Picower Foundation, which had investments with Madoff, according to a Jan. 9 report by Crain’s. Florida-based Picower provided major support for abortion rights advocacy.
The staff loss involved about 30 people, Crain’s reported. PPFA officials confirmed the staff cuts but refused to provide details, according to the report.
PPFA-affiliated clinics performed nearly 290,000 abortions in 2006, the latest year for which there are statistics. PPFA surpassed $1 billion in annual revenue for the first time in 2007, with more than $336 million of that total coming in grants and contracts from the government.
–30–
Compiled by Baptist Press Washington bureau chief Tom Strode.
