BLM Has Nearly $42 Million in Assets

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The Black Lives Matter organization is valued in the tens of millions of dollars, according to its latest tax filing with the Internal Revenue Service.

According to 63-pages of tax documents acquired by the Associated Press, executives of the Black Lives Matter Global Network Foundation Inc. have nearly $42 million in assets, despite spending more than $37 million from July 2020 to June 2021.

The $37 million was spent on grants, real estate, consultants and other expenses.

BLM received $90 million in donations amid the 2020 protests and riots that were carried out in major cities across the U.S. following the death of George Floyd. The foundation reports it invested $32 million in stocks from the $90 million in donations, according to the tax documents.

Organizers tell the Associated Press that the investment is expected to become an endowment to ensure the foundation’s work continues in the future.

The foundation has an operating budget of $4 million, a board member told the Associated Press, but the tax filing showed the BLM Foundation spent nearly $6 million on a mansion in Los Angeles, according to the report.

The BLM Foundation has operated as a nonprofit sponsored by a charity before it became an independent, 501(c)(3) nonprofit in December 2020, requiring it to publicly disclose its finances.

“This 990 reveals that (the BLM foundation) is the largest Black abolitionist nonprofit organization that has ever existed in the nation’s history. What we’re doing has never been done before,” said Shalomyah Bowers, the foundation’s board secretary.

Brian Mittendorf, Ph.D., an accounting professor at Ohio State University, said the disclosure will likely set up the foundation for criticism as its “huge windfall” has a “mismatch” and “gaps” in its data.

“It comes across as an early startup nonprofit, without substantial governance structure in place, that got a huge windfall,” Mittendorf told the outlet.

“People are going to be quick to assume that mismatch reflects intent. Whether there’s anything improper here, that is another question,” the professor continued. “But whether they set themselves up for being criticized, I think that certainly is the case because they didn’t plug a bunch of those gaps.”

Last month, Black Lives Matter was forced to defend its purchase of a multimillion-dollar mansion using donor funds after it sparked criticism on social media.

The foundation said it was “embracing this moment as an opportunity for accountability, healing, truth-telling, and transparency” and it was “working intentionally to rebuild trust” after it purchased the Creator’s House in California, which cost nearly $6 million.

“We apologize for the distress this has caused to our supporters and those who work in service of Black liberation daily,” the organization said, responding to the purchase and subsequent backlash.

The BLM Foundation started in 2013 after the death of Trayvon Martin, 17, and grew following the death of Michael Brown, 18, the following year. 

Shalomyah Bowers, who serves as the BLM foundation’s board secretary, said the foundation plans to launch a “transparency and accountability center” on its website to make its financial documents available for public inspection.

Original Article: Black Lives Matter has nearly $42 million in assets: IRS documents | Fox News

4 Comments
  1. Leslie says

    Clinton, Soros, BLM fund activists, ANTIFA, peaceful protester’s to loot and burn America.
    They would be better off actually helping black community’s better their lives. Making affordable housing real, cleaning up streets instead of trashing, destroying, looting. Help children learn respect for each other, how to be helpful in their community, how to be constructive and support projects that help teach them to be decent citizens, STOP TEACHING HATE AND RACISM this starts with the young.
    Stop making heroes and martyrs out of drugged out people that commit crimes and get shot for stupid acts. Some criminals get shot, all colors . SAY NO TO DRUGS. SAY NO TO CRIMINAL BEHAVIOR.
    Make your community proud to call you theirs.
    The mansion they bought, that money could have gone to start actually helping black communities heal….

  2. John J Romer says

    BLM is nothing but modern-day Black Panther organizations They should be trying to stop blacks from committing crimes instead of putting them on a pedestal when they get shot And that goes for George Floyd to Nothing but a damn criminal

  3. Cynthia says

    I believe that BLM should use the funds for their own reparations. We are diverse in the USA, are we going to be like Baltimore where everything is Asian, Black, Hispanic, on and on – each has its own group. How many cultural centers do we need? This just seems like segregation. Sick of it! Can we all play nice.

  4. Jake Macz says

    “Shalomyah Bowers, who serves as the BLM foundation’s board secretary, said the foundation plans to launch a “transparency and accountability center” on its website to make its financial documents available for public inspection.”
    Whenever an organization launches a ‘transparency and accountability center’, you just know that its purpose is the opposite.

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