Supporters are turning away from Black Lives Matter Foundation after tax records reveal controversial spending; $12 million spent on luxury homes
The Black Lives Matter Foundation has come under renewed scrutiny as the latest tax records reveal contentious spending patterns of donations.
Despite experiencing a significant 88% decrease in donations in 2022, substantial funds continue to be channeled towards acquaintances and family members of its former executive director, often in the form of high-value contracts.
Documents initially obtained by the Free Beacon reveal that the Black Lives Matter Foundation amassed $9.3 million in fiscal year 2022, a significant drop from the $75 million raised in the previous year, which represents a substantial 88% decrease in contributions. In the aftermath of George Floyd’s demise in 2020, the foundation saw its peak fundraising, amassing $90 million.
The foundation asserts on its website that the donations contribute to the movement’s objective of liberating Black people. However, revelations about how these funds were allocated have incensed many supporters, given the questionable expenditures by the foundation’s leadership.
Patrisse Cullors, the erstwhile executive director, found herself obliged to resign amid concerns over her handling of BLM donations. She had previously described charity financial disclosures as “triggering” and “deeply unsafe.” However, a look at the organization’s disclosures exposed questionable expenses, such as $12 million spent on high-end real estate in Los Angeles and Toronto.
Additionally, substantial six-figure and occasionally seven-figure salaries were allocated to associates and family members of Cullors for seemingly miscellaneous tasks.
Public exposure of these dubious spending patterns could have contributed to the marked downturn in contributions that the foundation has received recently.
Despite facing intense criticism for its prior fiscal conduct, the latest tax documents suggest that the foundation continued to allocate millions of dollars to the associates and family members of the removed director, even amidst the financial challenges it faced in 2022. The foundation ended the year with an $8.5 million deficit, and the worth of its investment accounts shrunk by nearly $10 million.
