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Tipsheet

BLM Organization Is Headed for Bankruptcy

AP Photo/Markus Schreiber

Black Lives Matter has soaked every penny they can from naive Americans who bought into their lie because they reportedly ran out of money. 

According to tax documents, BLM’s Global Network Foundation ended the financial year in the red, seeing an $8,559,748 deficit. The value of their investments dropped by roughly $10 million as well. 

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Despite filings indicating that the fraudulent organization spent nearly two-thirds of the $90 million it raised, BLM continued to give large contracts to close associates and relatives of its former executive director, Patrisse Cullors— who quit after being accused of using the organization’s funds to buy high price tag items including a multi-million dollar mansion.

BLM’s profits began to decline after the organization raised only $9.3 million in its 2022 fiscal year, a decrease of 88 percent from the previous year.

That same year, the woke organization had to halt its fundraising due to compliance and transparency concerns. 

BLM paid Shalomyah Bowers, who replaced Cullors, $1.69 million “for management and consulting services.”

Additionally, board member Danielle Edwards owned a firm that paid $1,063,500 for consulting services. In addition, Cullor’s brother, the only current salaried employee, was paid $125,000 with $15,000 in “other compensation” for unspecified security. Black Ties LLC, his security firm, was making $756,330. 

“While Patrisse Cullors was forced to resign due to charges of using BLM’s funds for her personal use, it looks like she’s still keeping it all in the family,” Paul Kamenar, an attorney for a watchdog group, said. 

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Cicely Gay, the activist group’s financial consultant, was hired to work through the organization’s money woes despite having her own financial problems, which she filed for bankruptcy in 2005, 2013, and 2016.

According to tax filings, the group spent nearly $12 million on luxury properties in Los Angeles and Toronto— contributing to their need to file for bankruptcy. 

In its filings, BLM said it was “working inside and outside of the system to heal the past, re-imagine the present, and invest in the future of black lives through policy change, investing in our communities, and a commitment to arts.”

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