According to newly released data, Black Lives Matter (BLM) has boosted spending on management just as it faces an increasing flood of red ink.
BLM’s federal tax return was recently disclosed online.
According to their 990 forms, Black Lives Matter received $76,872,002 in donations and grants in the 2020-2021 reporting year but just $9,268,283 the following year.
Black Lives Matter lost $8,559,748 in the fiscal year of 2122, despite spending $17,048,810. According to the filing, Black Lives Matter lost around $11.7 million in assets during the 2122 reporting year, despite having over $30 million in assets after that period.
The study and accompanying paper revealed expenditures of over $10.5 million on contractors, many of whom were connected to Patrisse Cullors, the organization’s previous executive director.
Paul Cullors, the brother of Patrisse Cullors, made $1.6 million from his enterprises, which, per the tax return, offered security services and a $126,000 pay.
Patrisse Cullors was forced into resignation for using BLM funds for personal use.
But meet the new boss, same as the old boss-
The current executive director, Shalomyah Bowers, is a friend of Cullors’s and was paid $1.7 million through his consultancy business.
Black Lives Matter Grassroots, a related group, has reportedly accused Bowers of “siphoning off millions.” According to a lawsuit, Bowers “stole” the money from the organization rather than putting it to good use.
Former Black Lives Matter board member Raymond Howard’s sister Danielle Edwards’ consulting business made almost $1.1 million.
Accounting professor at Ohio State University Brian Mittendorf cited continuing substantial dealings with insiders.
While not illegal in and of itself, this does raise questions about impartiality in the boardroom.
Many before BLM, like Al Sharpton and Jesse Jackson, both reverends, have done pretty well for themselves while the people they champion seem to wallow in the same economic situation year after year.
There’s big money in advocacy.