{"id":1938143,"date":"2023-05-25T17:53:26","date_gmt":"2023-05-25T21:53:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/leaked-documents-show-black-lives-matter-is-on-the-verge-of-financial-collapse-after-a-brutal-year\/"},"modified":"2023-05-25T17:55:04","modified_gmt":"2023-05-25T21:55:04","slug":"leaked-documents-show-black-lives-matter-is-on-the-verge-of-financial-collapse-after-a-brutal-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/leaked-documents-show-black-lives-matter-is-on-the-verge-of-financial-collapse-after-a-brutal-year\/","title":{"rendered":"&#8216;Black Lives Matter&#8217; faces financial collapse after a tough year, leaked documents reveal."},"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\">26<\/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%2Fleaked-documents-show-black-lives-matter-is-on-the-verge-of-financial-collapse-after-a-brutal-year%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=1938143&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 on the Verge of Financial Collapse After a Brutal Year<\/h2>\n<p>Black Lives Matter (BLM) has been hit hard by a rising tide of red ink, with new documents revealing that the organization has increased spending on management. The Washington Free Beacon recently published the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/green-activist-tied-to-top-dems-cant-account-for-millions-given-to-her-bail-fund\/\" title=\"Green Activist Tied To Top Dems Can\u2019t Account For Millions Given To Her Bail Fund\">federal tax return<\/a> of the Black Lives Matter Global Network Foundation, which showed that BLM raked in $76,872,002 in contributions and grants in the 2020-2021 reporting year, but this nosedived to $9,268,283 in the 2021-2022 year covered by the document.<\/p>\n<p>For the 2021-2022 year, BLM spent $17,048,810, resulting in a net loss of $8,559,748. The document also revealed that BLM lost $11.7 million in assets in the course of the year, despite having roughly $30 million in assets at the end of the reporting year.<\/p>\n<h3>Issues with Compliance and Contractors<\/h3>\n<p>After multiple issues with compliance in several states, BLM had to shut down its online presence. More than $10.5 million went to contractors, many of which were linked to friends and family of former executive director Patrisse Cullors. Cullors&#8217; brother, Paul Cullors, collected a $126,000 salary and $1.6 million through his businesses, which provided security services. Shalomyah Bowers, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mcauliffe-campaign-denounces-lincoln-projects-disgusting-and-distasteful-tiki-torch-stunt\/\" title=\"McAuliffe Campaign Denounces Lincoln Project\u2019s \u2018Disgusting And Distasteful\u2019 Tiki Torch Stunt\">current executive director<\/a> and close friend of Cullors, received $1.7 million for services through his consulting firm.<\/p>\n<p>Danielle Edwards, sister of former Black Lives Matter board member Raymond Howard, received roughly $1.1 million as a consultant. A sister organization, Black Lives Matter Grassroots, accused Bowers of &#8220;blazing a path of irreparable harm to BLM&#8221; and &#8220;siphoning&#8221; millions to his firm, according to the New York Post. The group claimed in a lawsuit that &#8220;instead of using the donations for its intended purposes, Mr. Bowers diverted these donations to his own coffers.&#8221;<\/p>\n<h3>Management Spending Rises as Cash Flow Dwindles<\/h3>\n<p>Despite losing revenue, funds spent on management rose as the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/leaked-documents-show-black-lives-matter-is-on-the-verge-of-financial-collapse-after-a-brutal-year\/\" title=\"'Black Lives Matter' faces financial collapse after a tough year, leaked documents reveal.\">cash flow dwindled<\/a>. In the 2020-2021 reporting year, BLM spent $3,760,600 on management, which was 4.72 percent of its revenue. In the 2021-2022 reporting year, management spending rose to $5,099,244, which was 60.07 percent of revenue.<\/p>\n<p>Brian Mittendorf, a professor of accounting at Ohio State University, said the red flag the document shows, to him, is the &#8220;continued and substantial transactions with insiders.&#8221; He added that while this is not improper per se, it does raise concerns about potential conflicts of interest in governing the organization.<\/p>\n<p>Despite the challenges, BLM remains committed to its mission. However, it will need to address its financial issues to continue its work effectively.<\/p>\n<blockquote>\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 with the National Legal and Policy Center.<\/p>\n<\/blockquote>\n<p>The leaked documents show that BLM is on the verge of financial collapse after a brutal year. It remains to be seen how the organization will address its financial issues and continue its work effectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Black Lives Matter has boosted management spending as it faces mounting debt. The Black Lives Matter Global Network Foundation&#8217;s federal tax return reveals increased spending on management, according to the Washington Free Beacon. The non-profit&#8217;s 2020-2021 reporting year 990 form shows the extent of the financial challenges facing the organization.<\/p>\n","protected":false},"author":661,"featured_media":1938144,"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":[548],"tags":[4212,7385,5407,4263,10740,4216,4219,5937,6119,5734],"class_list":["post-1938143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily","tag-black","tag-collapse","tag-documents","tag-financial","tag-leaked","tag-lives","tag-matter","tag-reveal","tag-tough","tag-year"],"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\/1938143","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\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1938143"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1938143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1938144"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1938143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1938143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1938143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}