Political | Process

Black Lives Matter Global Network Foundation, the charity that serves as the face of the national BLM movement, quietly changed its 12-month accounting cycle to July through June

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• By going from a calendar to a fiscal year, BLM has until mid-May to report what it did with the millions that flooded into its coffers beginning in the second half of 2020.

• The move enabled BLM to report a sparse, short-year Form 990 to the IRS that covered its activities during only the first half of 2020, when the entity was entirely dormant as a fiscally sponsored project of the California charity Thousand Currents.

• It was also the period just before BLM exploded as a cause celeb following George Floyd’s racially charged death.

• “Given the money involved here, this is really unbelievable,” CharityWatch Executive Director Laurie Styron told the Washington Examiner.

“To not know who is in charge of $60+ million collected by the national charity arm of arguably the most prominent social justice movement in the country is the worst transparency issue I have seen in my 18 years as a charity watchdog.”

• In July 2020, BLM broke away from Thousand Currents, and by the end of the year, it had received authorization from the IRS to operate as a charity effective August 2020.

• Thousand Currents dumped $66.5 million directly into BLM’s coffers in October 2020, according to an asset transfer agreement previously reported by the Washington Examiner, and BLM disclosed to California on Friday that it began accepting direct contributions in late August 2020.

• But that transaction won’t appear until BLM files its next 990 form, due by May 15, 2022.

SOURCE: WASHINGTONEXAMINER