October 06, 2012
Taxpayers Foot The Bill; Big Bird Cleans Up The Profits
Shows like Sesame Street are multi-million dollar enterprises capable of thriving in the private market. According to the 990 tax form all nonprofits are required to file, Sesame Workshop President and CEO Gary Knell received $956,513 -- nearly a million dollars -- in compensation in 2008. And, from 2003 to 2006, "Sesame Street" made more than $211 million from toy and consumer product sales.
That works out to around $50 million a year in profits. In the end, it's the U.S. taxpayer that loses. It's time Big Bird is weened from the public teat.