This Democrat Group Has $42 MILLION – But That’s Not All
(FeaturedNews.com) – After starting out as a grassroots movement following the death of Trayvon Martin in 2013, Black Lived Matter (BLM) blossomed into a juggernaut of not only members and momentum, but also massive amounts of cash. The Associated Press revealed in an exclusive story that the Black Lives Matter Global Network Foundation (BLMGNF] is worth a whopping $42 million.
Meager Beginnings and Infrastructure Issues
The BLMGNF’s founders, Patrisse Cullors, Alicia Garza, and Ayọ Tometi, were unprepared for the organization they started to become much more than a voice in the crowd. When Michael Brown was killed in 2014, the organization became a nationwide buzz, with local BLMGNF chapters popping up across the country. By 2020, BLM was a full-fledged movement, and the murder of George Floyd by a police officer in Minneapolis brought a windfall of donations they simply weren’t ready to receive and administer.
Two of the three founders had long since moved on, leaving Cullors in charge, but seemingly out of her league. She found herself running the organization with no board of directors or infrastructure in place, leaving the movement’s practices open to extreme scrutiny. When all was said and done, the BLMGNF was staring down the barrel of $90 million.
Where Did the Money Go?
While the infrastructure issues and lack of a board of directors may seem disastrous, the organization’s filings show that funds were distributed accordingly, with approximately 70% going directly to families and foundations related to people like George Floyd and local BLMGNF chapters across the country.
BLMGNF also invested in property as well as the stock market. A $6 million compound in Studio City, California, acts as a campus for Black artists. The 6-bedroom, 6-bath home has a swimming pool and studio space, and is currently used for its intended purposes.
Possible Scandals and Inconvenient Choices
Cullors, who stepped down in 2021, was transparent with tax filings and reimbursed the movement’s coffers for travel expenses and the private use of the Studio City property. Still, her actions as the movement’s leader make it difficult not to ask some tough questions. For example, while it’s common to spend the money BLMGNF used on consultants and security, it may not have been a great idea to use the firms she chose, one being her own and another belonging to the father of her child.
A New Start
BLMGNF now has an established board of directors, as well as an impressive portfolio of investments. Moving forward, the organization plans to continue its goals of injecting positive influences and much-needed fiscal relief to neighborhoods and local chapters, as the movement’s founders once intended.
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