October 06, 2012

Taxpayers Foot The Bill; Big Bird Cleans Up The Profits

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Big Bird may be on welfare, but he's cleaning up big with merchandising 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.

By DMartyr at 06:56 AM | Comments |