The Black Lives Matter Global Network took in just over $90 million dollars last year. Driven by protests internationally, the network shared a snapshot of their finances with the Associated Press. The report comes after the organization was accused in December of not supporting local chapters. Local BLM chapters went public and said that “most chapters have received little to no financial support from BLMGN since the launch in 2013.
It marks the first time in the movement’s nearly eight-year history that BLM leaders have revealed a detailed look at their finances according to the Seattle Times. The Foundation says they are now building infrastructure to catch up to the speed of its funding and plans to use its endowment to become known for more than protests after Black Americans die at the hands of police or vigilantes.
The foundation said it committed $21.7 million in grant funding to official and unofficial BLM chapters, as well as 30 Black-led local organizations. It ended 2020 with a balance of more than $60 million dollars, after spending nearly a quarter of its assets on the grant funds and other charitable giving.
The foundation did not state who gave the money in 2020, and leaders declined to name prominent donors. Founded in Delaware in 2016, the Black Lives Matter Global Network is not a recognized not for profit organization by the IRS and they are not required to offer tax returns in a public fashion.
