NEW YORK (AP) — A national Black Lives Matter nonprofit, whose philanthropic fortunes grew almost overnight during historic racial justice protests three years ago, raised just over $9 million in its last fiscal year, new IRS tax filings show. That’s significantly less than the $79 million in revenue reported in a previous tax filing of Black Lives Matter Global Network Foundation Inc, which the nonprofit says it expected, given the unique factors surrounding the public response to the murder of George Floyd. The BLM nonprofit had raised more than $90 million in the first year that it was a tax-exempt organization, coinciding with the wave of protests over police brutality in the summer of 2020.
New Black Lives Matter tax documents show foundation is tightening its belt, has $30M in assets
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Brynn Anderson/AP
FILE - D'Zhane Parker, left, Cicley Gay, center, and Shalomyah Bowers pose for a portrait on May 13, 2022, in Atlanta. Black Lives Matter Global Network Foundation Inc., a national Black Lives Matter nonprofit, whose philanthropic fortunes grew almost overnight during historic racial justice protests three years ago, raised just over $9 million in its last fiscal year, new IRS tax filings show. Cicley Gay, board chair for the foundation, said the belt tightening was part of an effort to demonstrate that its stewards “have been responsible, proactive decision-makers of the people’s donations.” (AP Photo/Brynn Anderson, File)
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