Black Lives Matters is arguably one of the largest organizations right now. They’re getting donations left and right. They’re responsible for a huge movement. At the very least, they should make sure that their financials add up…and they don’t.
Right now, the money trail is showing that only 6% of their funds are going to local chapters. So, where’s the other 94% going?
Well, they’re not sure if they’re able to answer that to the fullest.
From July 2017 to June 2019, millions of dollars have been spent on staff compensation, travel, and consultants according to the audited financial statements from their fiscal sponsor, Thousand Currents.
This is where one of their issues is sparked – they don’t handle any of their financials. Instead, they have a fiscal sponsor, Thousand Currents, that does it for them.
Kailee Scales, the Global Network Managing Director for BLM, has identified that the financial records don’t reflect the in-kind support that is provided to their affiliated chapters. Additionally, Scales says they’re not responsible for the preparation of their financial statements, which is a convenient way of passing the blame. She should, at the very least, know where the money is being spent, though…right?
When Daily Caller asked Scales the pointed question of how the money is being spent, there weren’t many clear answers. There are various program areas that the BLM advertises they participate in – but the money being given out doesn’t match what they’re bringing in.
So, the question becomes: Show us the money. According to Scales, over $770,000 was given to outside organizations between June 2019 and April 2020. However, financial statements are not yet available for the current fiscal year for Black Lives Matter. That’s also for this fiscal year – what about the previous years? Apparently, we’re not supposed to ask about that.
BLM has been getting a significant amount of donations following the death of George Floyd. They announced on June 11 that they will be launching a fund that will support affiliated local chapters of BLM using $6.5 million. They have also announced another $6 million grant fund to support other black-led grassroots organizations.
That’s a lot of money – and it’s not even clear as to how that money is being used. It’s simply for “support.” What, exactly, is being supported?
Here’s where things get even more interesting. Thousand Currents, the financial sponsor, was approached by BLM to create a fiscal sponsorship in 2016, allowing BLM to use the charitable status bestowed upon Thousand Currents. They provide administrative support to include accounting, grants management, legal and compliance, and more.
Thousand Currents, typically, supports grassroots groups and movements throughout Southeast Asia, Africa, and South America. According to Rajasvini Bhansali, the former executive director for Thousand Currents, Black Lives Matter agreed to make donations to some of the different partners in South Africa and Zimbabwe in lieu of the administrative fee for fiscal sponsorship services.
How much did BLM donate? Thousand Currents has yet to respond to the numerous inquiries that the press has made into this. So, we don’t know how much they donated and to what grassroots partners.
When BLM is pressed about what the local chapters are doing with the money, former BLM Global Network communications strategist says, “Because we are decentralized, chapters are autonomous.” Well, that’s certainly convenient.
It’s not the first time people have asked questions about what Black Lives Matter is doing with all of the money. Ashley Yates, a former BLM activist, has called BLM out on several occasions in public forums for their lack of transparency. She says that they squander money on “excessive travel and compensation” for their top staffers.
There are also local chapters changing their names to avoid being associated with the Black Lives Matter brand.
BLM is raking in hundreds of thousands of dollars in donations and speaking engagements. But, when it comes to being asked about where the money is going, they’re vague. It seems as though they’re making money on the notion of supporting the Black struggle.