*Attorney Antonio Moore discusses whether Black Lives Matter is facing bankruptcy. Plus, BLM leader Patrisse Cullors is being cut from her October 2022 Warner Brothers production deal.
Here’s some background to the situation: The national Black Lives Matter organization is at risk of going bankrupt after tax records reveal the organization has been paying out millions to executives while being millions in the red. According to the records, the leading Black Lives Matter foundation is operating at an $8.5 million deficit despite paying out millions in salary.
The Black Lives Matter Global Network Foundation’s (BLMGNF’s) financial woes stemmed from the 2022 tax year in a report first published by The Washington Free Beacon, according to a report from Newsweek. The organization showed a loss of $961,000 in connection to a $172,000 securities sale. The foundation is not the only organization that operates within the nonprofit sector in support of Black Lives Matter but it is the largest of its sort.
Apparently, a large decrease in public donations to the organization is the main problem. Reportedly, only $9.3 million came in between July 1, 2021, and June 30, 2022, with assets totaling $30 million. We’re not privy to the actual numbers, the $9.3 million is a substantial drop from the foundation’s July 1, 2020, and June 30, 2021 filings of the previous year.
BLMGNF co-founder Patrisse Cullors was the center of controversy after the foundation came under scrutiny for its donation haul and spending practices. Cullors has since stepped down after admitting last year that the foundation could not sustain the number of donations received although millions were spent in what some viewed as frivolous in certain areas.
Wait, there’s more! Adding to the shady impression the org is throwing off is the fact that Paul Cullors, the brother of Patrisse, continues to be paid for “professional security services” by the foundation. His fee is a hefty $1.6 million despite his sister no longer serving in her previous role.
MORE NEWS ON EURWEB: Daphne Bradford Responds to LA BLMer Joseph Williams Who She Claims is Trying to Knock Her off the Shoulders of Rosa Parks
The post Is Black Lives Matter Facing Bankruptcy? + BLM’s Patrisse Cullors Cut from Warner Brothers Deal #BlackLivesMatter | WATCH appeared first on EURweb.
