Babagounj
Strength through joy
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BLM spent $12.7M of its $60M in donations on professional fees in 2020
The Black Lives Matter Global Network Foundation blew $12.7million in donations it received following the outcry over George Floyd's death on 'professional fees', documents show.
- The Black Lives Matter Global Network Foundation blew $12.7M of its 2020 donations on 'professional fees'
- According to IRS filings nearly a quarter of the $60M BLMGNF raised by August 2020 was spent on accountants, legal services, contractors, and consultants
- The foundation also reported it expected to spend the same amount on such costs in 2021
- The figures were included in its IRS Form 1023 filing, which is required to apply for nonprofit status. BLMGNF was recognized as a nonprofit in December 2020
- However, earlier this month it was revealed BLMGNF has not provided its latest tax return, and the 2019 filing has a non-existent address
- BLMGNF released a snapshot of its finances last February revealing it raked in $90M in 2020 and ended the year with a balance of more than $60M
- The charity, which is now in delinquent status, hasn't had anyone in charge of its finances since co-founder Patrisse Cullors resigned last May