{"id":1936661,"date":"2023-05-24T03:16:32","date_gmt":"2023-05-24T07:16:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/black-lives-matter-hemorrhaged-cash-in-2022-tax-documents-show\/"},"modified":"2023-05-24T03:20:07","modified_gmt":"2023-05-24T07:20:07","slug":"black-lives-matter-hemorrhaged-cash-in-2022-tax-documents-show","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/black-lives-matter-hemorrhaged-cash-in-2022-tax-documents-show\/","title":{"rendered":"Black Lives Matter lost a lot of money in 2022, according to tax documents."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fblack-lives-matter-hemorrhaged-cash-in-2022-tax-documents-show%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1936661&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Black Lives Matter Bleeds Cash and Suffers Investment Losses<\/h2>\n<blockquote>\n<p>According to a copy of its tax return obtained by the <em>Washington Free Beacon<\/em>, Black Lives Matter suffered blistering investment losses and bled cash in 2022.<\/p>\n<\/blockquote>\n<h3>Financial Woes<\/h3>\n<blockquote>\n<p>Black Lives Matter Global Network Foundation ran an $8.5 million deficit and saw the value of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/black-lives-matter-hemorrhaged-cash-in-2022-tax-documents-show\/\" title=\"Black Lives Matter lost a lot of money in 2022, according to tax documents.\">investment accounts plummet<\/a> by nearly $10 million in the most recent tax year, <a href=\"https:\/\/freebeacon.com\/wp-content\/uploads\/2023\/05\/BLMGNF-2021-Form-990.pdf\" target=\"_blank\" rel=\"noopener\">financial disclosures<\/a> 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.<\/p>\n<\/blockquote>\n<h3>Excesses and Missteps<\/h3>\n<blockquote>\n<p>Despite these troubles, Black Lives Matter continued to dole out seven-figure contracts to friends and family of its former executive director Patrisse Cullors, who once <a href=\"https:\/\/freebeacon.com\/politics\/its-like-triggering-watch-blm-leader-break-down-over-laws-requiring-disclosure-of-how-she-spent-donor-money\/\" target=\"_blank\" rel=\"noopener\">said<\/a> charity financial disclosures were &#8220;triggering&#8221; and &#8220;deeply unsafe.&#8221;<\/p>\n<p>The financial losses come after a year of missteps and setbacks for the embattled charity. BLM raised just $9.3 million in its 2022 fiscal year, down 88 percent from its haul the year prior. Black Lives Matter was forced to <a href=\"https:\/\/freebeacon.com\/democrats\/black-lives-matters-revenue-plummeted-88-percent-this-year\/\" target=\"_blank\" rel=\"noopener\">shut off<\/a> its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/black-lives-matter-suspends-fundraising-after-california-ag-warns-of-missing-reports\/\" title=\"Black Lives Matter Suspends Fundraising After California AG Warns of Missing Reports\">online fundraising streams<\/a> in February 2022 due to compliance and transparency issues in several liberal states. The group has blown through two-thirds of the $90 million it <a href=\"https:\/\/www.cnn.com\/2021\/02\/25\/us\/black-lives-matter-2020-donation-report-trnd\/index.html\" target=\"_blank\" rel=\"noopener\">raised<\/a> in the wake of George Floyd\u2019s death in the summer of 2020.<\/p>\n<\/blockquote>\n<h3>Profligacy and Nepotism<\/h3>\n<blockquote>\n<p>BLM spent about $12 million of those funds on luxury homes in Los Angeles and Toronto. That profligacy did not abate in the 2022 fiscal year, when the charity dropped more than $10.5 million on contractors, much of which went to companies linked to Cullors\u2019s friends and family.<\/p>\n<p>Cullors\u2019s brother, Paul Cullors, made out especially well. A graffiti artist with no prior experience as a bodyguard, Paul Cullors and his two companies raked in $1.6 million providing &#8220;professional security services&#8221; for Black Lives Matter in 2022. Paul Cullors was also one of BLM\u2019s only two paid employees during the year, collecting a $126,000 salary as &#8220;head of security&#8221; on top of his consulting fees.<\/p>\n<p>Bowers, the Black Lives Matter board member and close friend of Cullors, hauled in a hefty bounty during the charity\u2019s 2022 tax year. Black Lives Matter paid his company, Bowers Consulting, $1.7 million for management and consulting services.<\/p>\n<p>The sister of former Black Lives Matter board member Raymond Howard brought in a seven-figure consulting fee as well. BLM paid Danielle Edwards\u2019s firm, New Impact Partners, $1.1 million for consulting services in 2022.<\/p>\n<\/blockquote>\n<h3>Legal Troubles<\/h3>\n<blockquote>\n<p>Bowers\u2019s management of Black Lives Matter earned him few friends in the movement. Black Lives Matter Grassroots, a former sister organization of Black Lives Matter, <a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/black-lives-matter-leader-accused-siphoning-10-million\" target=\"_blank\" rel=\"noopener\">accused<\/a> Bowers of &#8220;blazing a path of irreparable harm to BLM&#8221; by treating the charity as his personal piggy bank.<\/p>\n<p>Black Lives Matter also agreed to pay an additional $600,000 to an unidentified former <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/virginia-democrats-say-parents-who-want-schools-to-reopen-might-be-kkk-members\/\" title=\"Virginia Democrats Say Parents Who Want Schools To Reopen Might Be KKK Members\">board member\u2019<\/a>s consulting firm &#8220;in connection with a contract dispute,&#8221; the charity disclosed in its audited <a href=\"https:\/\/freebeacon.com\/wp-content\/uploads\/2023\/05\/BLMGNF-2021-Audited-Financial-Statements.pdf\" target=\"_blank\" rel=\"noopener\">financial statements<\/a>.<\/p>\n<\/blockquote>\n<h3>Uncertain Future<\/h3>\n<blockquote>\n<p>It\u2019s unclear if Black Lives Matter paid out lucrative contracting fees to Cullors\u2019s friends and family past June 2022. The charity brought on a new board of directors last summer led by nonprofit adviser Cicley Gay, who has <a href=\"https:\/\/nypost.com\/2022\/06\/01\/new-blm-head-has-filed-for-personal-bankruptcy-three-times\/\" target=\"_blank\" rel=\"noopener\">filed<\/a> for Chapter 7 bankruptcy three times since 2005.<\/p>\n<p>Black Lives Matter is on the fast track to financial insolvency, and the excesses of Cullors\u2019s tenure have not abated under her chosen successor, Shalomyah Bowers.<\/p>\n<p>&#8220;While Patrisse Cullors was forced to resign due to charges of using BLM&#8217;s funds for her personal use, it looks like she&#8217;s still keeping it all in the family,&#8221; said Paul Kamenar, an attorney for the National Legal and Policy Center watchdog group.<\/p>\n<p>Black Lives Matter did not return a request for comment.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Black Lives Matter Global Network Foundation faced financial struggles in 2022, with an $8.5 million deficit and investment losses of almost $10 million, as per its tax return obtained by the Washington Free Beacon.<\/p>\n","protected":false},"author":108,"featured_media":1936662,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[3990,4212,5407,4216,5987,8417,4219,4755,8360],"class_list":["post-1936661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-3990","tag-black","tag-documents","tag-lives","tag-lost","tag-lot","tag-matter","tag-money","tag-tax"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1936661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/108"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1936661"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1936661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1936662"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1936661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1936661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1936661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}