People have started to notice that Black Lives Matter, the organization, is sitting on a massive pile of cash and doesn’t seem to be following standard procedures for a non-profit.
As a result of this increased scrutiny, they have temporarily suspended their fundraising operations.
Andrew Kerr reports at the Washington Examiner:
Black Lives Matter shuts down fundraising days after liberal states threatened legal actionBlack Lives Matter shut down all of its online fundraising streams late Wednesday afternoon, just days after California threatened to hold the charity’s leaders personally liable over its lack of financial transparency.The move comes less than a week after a Washington Examiner investigation found that BLM has had no known leader in charge of its $60 million bankroll since its co-founder resigned in May. California and Washington recently ordered BLM to cease all fundraising activities in their blue states due to the failure of the Black Lives Matter Global Network Foundation, the legal entity that represents the national BLM movement, to report information about its finances in 2020, the year it raised tens of millions amid the racial protests and riots that followed George Floyd’s killing.”We take these matters seriously and have taken immediate action,” an unidentified spokesperson for the BLMGNF told the Washington Examiner. “We have immediately engaged compliance counsel to address any issues related to state fundraising compliance. In the interim, we have shut down online fundraising as we work quickly to ensure we are meeting all compliance requirements.”
Lee Brown of the New York Post has more:
Black Lives Matter labeled ‘delinquent’ by California AG over murky financesBLM was given 60 days to file tax and charity documents for 2020 — the year it previously confirmed collecting a staggering $90 million, with at least $60 million left over after expenses and grants.That fortune sparked a firestorm from affiliates that say they have never received much-needed financial help, while co-founder Patrisse Kahn-Cullors went on a real estate buying binge.If it misses the 60-day deadline, BLM could lose its tax-exempt status and be hit with late fees “for each month or partial month for which the report(s) are delinquent,” the Justice Department’s letter warned.“Charitable assets cannot be used to pay these avoidable costs,” the letter said.“Accordingly, directors, trustees, officers and return preparers responsible for failure to timely file the above-described report(s) are personally liable for payment of all penalties, interest and other costs incurred to restore exempt status,” it continued.The words “personally liable” appeared in bold twice in the letter.
My guess is that the leaders of BLM thought they were above reproach because, for the most part, they have been for years. Unfortunately for them, non-profits in the United States have to follow strict rules and protocols for reporting all monies going in and out.
They should also be made aware that accusations of racism mean nothing when you’re being audited.
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