California’s Department of Justice has sent a warning to the Black Lives Matter Inc., according to which they have 60 days to abide by the requirements of financial reporting; otherwise, BLM’s leaders will be held personally liable.
Washington State has also ordered BLM to submit its 2020 financial report. If they miss their deadline, they will be fined $2000 for each new donation they recieve.
Glenn Beck is a renowned host of the talk show Glenn Beck and is well known for his conservative political views. The US is struggling with inflation and the Biden administration and his RINO allies seem determined to drag us into a nuclear war; so, why is Glenn Beck talking about the Black Lives Matter movement?
A couple of years ago, Beck discovered that all BLM donations came through ActBlue, which was the payment gateway for vital Democratic party organizations. ActBlue charges a 3.95% processing fee from each donation and in 2020 they reported earnings of a little over $3 million to the IRS. This indicates that BLM received donations worth more than $78 million in 2020.
According to Beck, in 2021, ActBlue reported earnings of around $517,000 through BLM donations. So, this means BLM would have raised $13 million in donations. But where is all that money really going? After charging its processing fee, ActBlue forwards the rest of the donations to BLM’s fiscal sponsor, Thousand Currents, who further charges a 15% handling fee.
At this stage in the process, 20% of your liberal aunt’s donation is already gone, just like that. That is outrageous when compared to a standard non-profit industry rate of between 5%-10%.
In July 2020, BLM was looking for a new fiscal sponsor as Thousand Currents decided to leave the fiscal sponsorship business. As its new fiscal sponsor, BLM chose Tides Foundation, which is funded by George Soros.
In December 2020, BLM got approved for tax exempt status, which means BLM could operate as a charity without any fiscal sponsors.
After asking for a 6 month extension from the IRS to file its taxes for the year 2020, BLM filed for a change of their yearly accounting cycle to a fiscal year. This allowed them to file taxes for a short year which only covers the first six months of 2020.
During the next six months of 2020, the period after George Floyd, BLM received donations worth more than $60 million and more later on. Thanks to the yearly accounting calendar change they are not liable to report that until May 2022.
Seems like the future is not so bright for BLM as multiple states are demanding answers from the group regarding their finances.
Currently, BLM is out of compliance in at least 10 states. Things look bad as even the woke states, like California and Washington, are taking BLM’s finances lightly.