The left-wing dark money giant Tides Foundation raised more than $33 million on behalf of the national Black Lives Matter group during the George Floyd riots in 2020. Now, Black Lives Matter is suing Tides over its refusal to hand the funds back. There’s just one problem—nearly $9 million of those funds have seemingly disappeared.
From 2020 through 2022, Tides transferred $8.7 million from the fund to Black Lives Matter Grassroots, an offshoot of the national Black Lives Matter group led by Melina Abdullah, a longtime activist and professor. But Black Lives Matter Grassroots reported to the IRS that it never received that money, and no one involved in the transactions will say what became of the funds. These discrepancies have left charity watchdogs mystified, while legal experts say they could lead to massive fines and penalties.
This story is based on interviews with Black Lives Matter activists and internal documents obtained by the Washington Free Beacon. Together, they expose how the movement’s mismanagement of its 2020 windfall was aided and abetted by a left-wing dark money machine, and went far beyond the purchase of swanky mansions and massive distributions to associates of its co-founder, Patrisse Cullors.
As the remnants of Black Lives Matter’s windfall rapidly diminish, two factions have emerged seeking to establish control over the movement’s remaining finances. On one side of the power struggle is Black Lives Matter Global Network Foundation, the charity commonly referred to as the national Black Lives Matter group, which was responsible for purchasing a $6 million Los Angeles mansion in 2020 and granting $8 million to purchase a Canadian mansion in 2021. The Global Network Foundation received the bulk of the Black Lives Matter windfall in 2020—nearly $80 million. By June 2023, that endowment had been reduced to $29 million, according to tax documents released last week.
At the other end of the conflict is Black Lives Matter Grassroots, an offshoot of the Global Network Foundation that tried and failed to sue its progenitor for $10 million and allegedly abused its own charitable resources to finance overseas vacations for Abdullah, its director. Black Lives Matter Grassroots’ finances are a complete mystery. There is no indication the charity has filed a public financial disclosure with the IRS, though it was due to file one by November 2023 at the latest.
In the middle of the struggle is the Tides Foundation, the left-wing dark money giant that raised more than $33 million on behalf of the Black Lives Matter movement in 2020, and now refuses to give what remains to either group.