A national Black Lives Matter organization is at risk of going bankrupt after tax records reveal that the national 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.
As reported by Newsweek, the Black Lives Matter Global Network Foundation’s (BLMGNF) financial woes stemmed from the 2022 tax year in a report first published by The Washington Free Beacon. 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.
At the root of the foundation’s problems is lowered donations from the public, reporting $9.3 million between July 1, 2021, and June 30, 2022, with assets totaling $30 million. This …