Black Lives Matter revenue dropped 88 percent in 2022, report
Cullors said in a speech that she gets "triggered" after hearing the term "IRS Form 990," which is a standard financial disclosure document that charities have to file.
The Black Lives Matter Global Network Foundation raised roughly $70 million less in 2022 than it did in 2020, the year of the nationwide George Floyd protests and riots.
Records obtained by the Washington Free Beacon show that the foundation raised only $9.3 million in the fiscal year ending in June 2022, compared to the $80 million raised in 2020.
Black Lives Matter has received considerable backlash over how the foundation has spent much of the money it raised.
The founder, Patrisse Cullors, who in a 2015 video described herself and the other BLM organizers as "trained Marxists," bought four properties in California and Georgia for $3.2 million and the charity secretly purchased a $6 million compound in Los Angeles in October 2020 with donor money, according to the New York Post.
The misuse of funds didn't stop there, according to the Washington Free Beacon. Cullors paid her brother, Paul Cullors, $840,993 for "professional security services," according to financial disclosures released in May 2022, though he had no background or experience as a bodyguard.
In addition, Black Lives Matter paid nearly $1 million to an art firm headed up by the father of Cullors’ only child, and more than $2 million to a consulting firm owned by Black Lives Matter board member Shalomyah Bowers. Bowers was later named in a lawsuit by a sister organization for allegedly receiving an additional $10 million in fees through his consulting firm, according to the outlet. It all began to unravel when Cullors' real estate purchases became public in 2021.
During a 2022 event, Cullors said in a speech that she gets "triggered" after hearing the term "IRS Form 990," which is a standard financial disclosure document that charities have to file.
"This doesn't seem safe for us, this 990 structure—this nonprofit system structure," she reportedly said. "This is, like, deeply unsafe. This is being literally weaponized against us, against the people we work with."