How BLM’s leadership concealed millions in diverted funds.
The Black Lives Matter Global Network Foundation (BLMGNF) just released its 2021 990 tax return, the first public financial disclosure since its founding in 2014. The Daily Mail’s deep dive into the return documented related party transactions (friends and family plans) and waste, fraud, and abuse orchestrated by Marxist trained leader Patrisse Cullors.
This article provides a supplemental analysis that traces the BLMGNF’s organizational life cycle. It includes two other crucial unpublished IRS tax returns, revealing huge reporting gaps and substantial unaccounted funds.
BLMGNF Organizational Lifecycle
BLMGNF began as a pseudo nonprofit in late 2014. In 2016, Thousand Currents nonprofit became a donor advisory sponsor for BLMGNF. Fiscal sponsorships funnel money through a “conduit arrangement” from a nonprofit sponsor to a pseudo organization or a group of individuals to legally skirt the IRS tax code. Donors receive a tax deduction receipt from the fiscal sponsor. Often, the arrangements lack oversight leaving them highly susceptible to misuse and fraud, and they conceal the beneficiaries. The IRS does not require fiscal sponsors to disclose their conduit arrangements, donations, donors, or expenses in their 990 tax returns.