OAN’s Noah Herring
10:42 AM – Thursday, May 25, 2023
The tax documents of the Black Lives Matter (BLM) group have shown that millions of dollars were paid out to executives of the organization while having a near $9 million dollar deficit last year.
The documents, which were posted online, reveal that BLM’s Global Network Foundation recorded a revenue of $8.5 million, around half of the $17 million that was spent. This is a massive decline from the $42 million that the organization raked in the previous year after expenses.
Majority of the money was spent funding companies owned by individuals with close ties to the group. For example, $1.69 million was paid to a company owned by Shalomyah Bowers, who replaced Patrisse Cullors, “for management and consulting services.” It has been reported that Cullors quit over additional financial scandals before being replaced by Bowers.
Black Lives Matter Grassroots, which is a sister organization to BLM, accused Bowers of “blazing a path of irreparable harm to BLM” and “siphoning” millions to his firm.
“Instead of using the donations for its intended purposes, Mr. Bowers diverted these donations to his own coffers,” the group claimed in a lawsuit.
Danielle Edwards, a board member, also owned a firm “which was paid $1,063,500 for consulting services,” auditors said.
The only current salaried employee last year for the organization was Cullors’ graffiti-artist brother, Paul Cullors, who received around $125,000 with an additional $15,000 defined as “other compensation.” Along with his salary, his security firm, Black Ties LLC, was paid $756,330, which is about the same wage amount from the year prior.
The auditors’ review stated: “A sibling of the former Executive Director owned a security and protection company, which was paid $1,602,185 for security services.”
BLM has also agreed to pay $600,000 to a previous unidentified member of the board’s consulting firm “in connection with a contract dispute,” which was disclosed in its audited financial statements.
Black Lives Matter has spent around $60 million of the $90 million it raised, with only $30 million in assets remaining.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts