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Tax return shows Black Lives Matter on the fast track to insolvency

The last time we checked in with Black Lives Matter co-founder and “trained Marxist” Patrice Cullors was last May when the Daily Mail reported that Black Lives Matter had paid a company owned by Damon Turner, the father of Cullors’ child, nearly $970,000 to help “produce live events” and provide other “creative services.” Her brother, Paul Cullors, received more than $840,000 for providing security services to the foundation.

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Of course, Cullors first showed up on everyone’s radar when she dropped $1.4 million on a mansion in an almost exclusively white neighborhood; she claimed the “right-wing offensive” against her continued “a tradition of terror by white supremacists.”

Last spring, after Black Lives Matter purchased a $6 million mansion in Southern California with donated money, even HuffPost reported that BLM was actually a blatant cash grab.

The thing is, there’s no way BLM made tens of millions selling lawn signs to white liberals. Those were corporate donations by companies that went all-in on supporting Black Lives Matter. Those companies got fleeced.

Now, the Washington Free Beacon is reporting that Black Lives Matter is on the fast track to financial insolvency:

Andrew Kerr reports:

Black Lives Matter Global Network Foundation ran an $8.5 million deficit and saw the value of its investment accounts plummet by nearly $10 million in the most recent tax year, financial disclosures show. The group logged a $961,000 loss on a securities sale of $172,000, suggesting the charity weathered a staggering 85 percent loss on the transaction. These troubles didn’t stop BLM from doling out seven-figure contracts to friends and family of its former executive director Patrisse Cullors, who once said charity financial disclosures were “triggering” and “deeply unsafe.”

It’s no surprise that Cullors was so fearful of disclosing Black Lives Matter’s finances to the public. The revelations in Black Lives Matter’s latest Form 990 show that the group is on the fast track to financial insolvency, and that the excesses of Cullors’s tenure have not abated under her chosen successor, Shalomyah Bowers.

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“The group has blown through two-thirds of the $90 million it raised in the wake of George Floyd’s death in the summer of 2020,” Kerr adds.

Last April, Cullors said that charity transparency laws were “deeply unsafe” and “literally being weaponized against us.”

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