Black Lives Matter risks going bankrupt after running an $8.5 million deficit last year, financial disclosures indicate.
The Black Lives Matter Global Network Foundation (BLMGNF) saw the value of investment accounts fall by almost $10 million in the most recent tax year, according to a copy of its tax return, first reported by The Washington Free Beacon, a conservative website.
The nonprofit's latest Form 990 shows that a loss of just over $961,000 was logged on a securities sale of $172,000. The disclosures suggest a year of missteps for the foundation, as well as a dramatic drop in donations.
The foundation was started by organizers of the Black Lives Matter movement, which first emerged in 2013 following the acquittal of George Zimmerman in the killing of 17-year-old Trayvon Martin. It is not the sole organization within the broader movement but is the largest and most well-funded.