BLM deeply in the red, but still has cash to pay its execs millions
Race-hustling activist group Black Lives Matter has managed to blow through more than half its amassed fortune from corporate and other donors, and is now millions of dollars in debt.
But no big deal to its greedy executives. They're still taking home millions.
According to the New York Post:
Black Lives Matter ended last year with a nearly $9 million deficit — while still paying out millions to organizers as well as relatives of controversial co-founder Patrisse Cullors.
Tax documents shared by the Washington Free Beacon show that BLM’s Global Network Foundation ended the financial year in the red to the tune of $8,559,748.
The filings show that the nonprofit recorded revenue of $8.5 million — roughly half of the more than $17 million it spent.
That deficit is made even more extreme given that the previous year, it actually increased its piggybank, earning nearly $42 million after expenses.
The financial hit also left the group with $30 million in assets, down nearly $11.75 million from where it started the financial year.
That means it has spent two-thirds of the $90 million it raised, which Cullors — who quit over earlier financial scandals highlighted by The Post — previously dismissed as “white guilt money.”
That suggests a lot of mismanagement in an organization that has already been noted for its mismanagement of funds -- with words such as 'mansions,' 'overpayments to unqualified web designers,' 'spas,' 'vacations' and 'luxury conferences' among the many news items.
Any corporate CEO who paid himself millions with such a record would be ousted by shareholders. But not these radicals.
Where are the investigators, given that this wouldn't be tolerated in any other charity group?
And where are the donors, the big corporates who handed this money out to them? Were they interested in helping black people? Or were they hoping to throw money at BLM in a bid to keep them from protesting against them? Somehow, we hear very little.
Worst of all, we hear very little about whether this group has ever done anything to help the black community.
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