Black Lives Matter Global Network Foundation (BLM) faces bankruptcy after its recent tax filing shows a $9 million deficit last year. This news comes after BLM co-founder Patrisse Cullors made headlines for the past couple of years for her extensive real estate portfolio worth close to $8 million. She also took extravagant trips with staff to far-away destinations for “business” that looked a lot more like pleasure.
BLM and similar organizations raised a combined $82 billion since the death of George Floyd in 2020. Of that $82 billion, BLMGNF raised somewhere around $100 million. Tax filings show that BLM had $42 million in assets in 2022. Financial analysts suggest that BLMGNF simply has a spending problem. The organization came into a windfall of cash after the death of George Floyd and, apparently, they continued to spend like that money was coming in the same way it was. Of course, the windfall died down and reality set in. BLMGNF ignored this reality, and now they are facing bankruptcy due to their extravagant spending.
SOURCES:
BLM recorded $9M deficit last year: tax docs
BLM is nearly insolvent after plunging $8.5M into the red last year
Black Lives Matter Hemorrhaged Cash in 2022, Tax Documents Show
Black Lives Matter is headed for INSOLVENCY after plunging $8.5M into the red | Daily Mail Online
Black Lives Matter Risks Going Bankrupt
After Raising $90 Million in 2020, Black Lives Matter Has $42 Million in Assets – The New York Times
New Analysis: Corporate America Has Donated $82 Billion To BLM-Related Causes So Far | The Daily Wire
Inside BLM co-founder Patrisse Khan-Cullors’ real-estate buying binge
BLM’s Patrisse Cullors admits using $6M mansion for parties
