Posted on 05/26/2023 8:52:12 AM PDT by yesthatjallen
Black Lives Matter bled cash and suffered blistering investment losses in 2022, according to a copy of its tax return obtained by the Washington Free Beacon.
Black Lives Matter Global Network Foundation ran an $8.5 million deficit and saw the value of its investment accounts plummet by nearly $10 million in the most recent tax year, financial disclosures show. The group logged a $961,000 loss on a securities sale of $172,000, suggesting the charity weathered a staggering 85 percent loss on the transaction. These troubles didn’t stop BLM from doling out seven-figure contracts to friends and family of its former executive director Patrisse Cullors, who once said charity financial disclosures were "triggering" and "deeply unsafe."
It’s no surprise that Cullors was so fearful of disclosing Black Lives Matter’s finances to the public. The revelations in Black Lives Matter’s latest Form 990 show that the group is on the fast track to financial insolvency, and that the excesses of Cullors’s tenure have not abated under her chosen successor, Shalomyah Bowers.
SNIP
(Excerpt) Read more at freebeacon.com ...
No problem, they’ll just hit up the taxpayers to bail them out.
I did not know that ‘hemorrhage’ was synonymous with ‘embezzle’.
Hemorrhaged Cash = Spent like drunken sailors................
Accounting is racist!
Investing in ESG (Environmental, Social and Governance) ?
More here:
https://freerepublic.com/focus/f-news/4155569/posts
https://freerepublic.com/focus/news/4155623/posts
😁👍
uh oh
blm is out of cash
have to fire up the rage machine
Blood sucking race hucksters enriching their families and friends, isn’t hemorrhaging. It’s embezzlement, which is a crime.
I’m sure a special request to raise their debt ceiling with taxpayer backed loans is forthcoming from the Beltway syndicate. (For 10%)
Losing 85% on a securities transaction is racist.
I think.
Or is it Globull Worming?
Trump’s Fault??
It’s something.
Black LOOT matters....
What a business plan: Hope for some stoned junkie to die anywhere near white police officers, foment racial division and rioting, demand money from others to prove they’re down with the struggle….
Meanwhile do NOTHING to bring races together or actually help those they ostensibly serve - but enrich leadership with buckets of 501(c)(3) tax free money.
It’s a criminal enterprise.
Who would have thought that BLM is an investment vehicle?
Spray paint for block letters for “artistic murals” defacing roads costs a lot of money
blm was designed to hemorrhage cash.
Once all the money is gone (and after all government subsides have subsided), its head honchos retire to a life of luxury.
It’s what they do.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.