Several reports have confirmed that Black Lives Matter’s investment accounts lost over $10 million in value, forcing them to report a very significant loss. BLM, a non-profit organization, had a 88% drop in public donations and experienced an $11.75 million drop in net assets.
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
In 2021, Patrisse Cullors resigned from her position as executive director due to allegations that her and her team were pocketing donations. Now, the organization’s executive board is being head by Cicley Gay, a philanthropic strategist who has filed for bankruptcy seven times since 2005.
The Black Lives Matter Global Network Foundation (BLMGNF) 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.