BLM recorded $9M deficit in 2022 — but still paid millions to execs: tax docs
By Lee Brown
May 24, 2023 10:29am
Black Lives Matter ended last year with a nearly $9 million deficit — while still paying out millions to organizers as well as relatives of controversial co-founder Patrisse Cullors.
Tax documents posted online show that BLM’s Global Network Foundation ended the financial year in the red to the tune of $8,559,748.
The filings show that the nonprofit recorded revenue of $8.5 million — roughly half of the more than $17 million it spent.
That deficit is made even more extreme given that the previous year, it actually increased its piggybank, earning nearly $42 million after expenses.
The financial hit also left the group with $30 million in assets, down nearly $11.75 million from where it started the financial year.
That means it has spent two-thirds of the $90 million it raised, which Cullors — who quit over earlier financial scandals highlighted by The Post — previously dismissed as “white guilt money.”
Despite the crunch, millions of dollars were paid to companies with close ties to the group — including one owned by Shalomyah Bowers, who replaced Cullors when she quit.
An independent auditors’ review of the previous two years, also posted online, showed that Bowers’ company was paid a staggering $1.69 million “for management and consulting services.”
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https://nypost.com/2023/05/24/blm-recorded-9m-deficit-last-year-tax-docs/
