Black Lives Matter may have more cash than it has disclosed, new records show.
According to documents acquired by the Washington Examiner shows that the Black Lives Matter Global Network Foundation said in February 2021 that it spend one-third of its $90 million that it had raised in 2020. That would mean that the group still had $60 million in its pockets at the year’s end.
Unreported documents to the IRS show that BLM Global Network ” raised nearly $79 million from the small-dollar Democratic fundraising platform ActBlue in 2020 and another $13 million through ActBlue in 2021, figures that likely don’t represent the flood of corporate donations that poured into BLM’s coffers during the nationwide unrest that followed George Floyd’s killing,” the Examiner states.
“It appears that millions of dollars in donations to BLMGNF are unaccounted for,” said legal counsel for National Legal and Policy Center Paul Kamenar.
Corporations and Foundations usually make their charitable contributions directly to the charity rather than through an intermediary such as ActBlue, which takes a percentage of the gift as a processing fee and is used for small-dollar donations from individuals.
“The questions surrounding BLMGNF’s finances call for a full independent audit that must be released to the public.”
BLM Global Network has not made public what it fundraised from corporations, many of whom donated to the tune of seven figures.
In the first half of 2020, BLM Global Network worked via California charity Thousand Currents. It would then shift to the Tides Foundation, an American public charity and fiscal sponsor that has worked for far-left causes since its inception in the 70s.
“ActBlue charges a flat 3.95% processing fee on all contributions made through the platform, which implies the Tides Foundation raised $78.8 million in small-dollar donations through the platform for BLM in 2020. It’s not clear whether Tides then distributed those funds to BLM or if Tides remains in control of the funds,” the Examiner’s report states.
BLM co-founder Patrisse Cullors said that the switch was due to the scope of the movement, which exploded following the death of Floyd.