Authorities have threatened to cut off Black Lives Matter’s funding, and are now threatening to punish the group’s leaders for hiding financial records.
The California Department of Justice is threatening to hold BLM leaders in the state personally liable if the group does not produce financial reports within the next two months.
According to a letter obtained by the Washington Examiner, BLM has a bankroll of about $60 million, and has yet to submit several financial documents, including required yearly financial reports, and its 2020 Form 990, which is required for charities that are exempt from income tax.
“The organization BLACK LIVES MATTER GLOBAL NETWORK FOUNDATION, INC. is delinquent with The Registry of Charitable Trusts for failing to submit required annual report(s),” the January 31 letter said.
The letter states that BLM will be barred from “soliciting or disbursing charitable funds” until it produces the forms.
In addition, failure to produce the financial reports within 60 days will result in the California Registry of Charitable Trusts revoking BLM’s tax-exempt status and imposing fines for “each month or partial month for which the report(s) are delinquent,” the letter said.
“Directors, trustees, officers and return preparers responsible for failure to timely file the above-described report(s) are personally liable for payment of all penalties, interest and other costs incurred to restore exempt status,” the letter adds.
California is the second left-leaning state to highlight concerns with Black Lives Matter this year, following Washington state’s decision to order the group to “immediately cease” fundraising in a letter released on January 5th. Of course, the group ignored that order.
As of January 31st, BLM has been ignoring the order in California as well, despite the fact that the state’s letter informed the organization that it would face fines of up to $2,000 for each donation it solicited or received.
BLM was described as being “like a giant ghost ship full of treasure drifting in the night with no captain, no discernible crew, and no clear direction,” by CharityWatch Executive Director Laurie Styron, according to the Examiner.
Lavern Spicer, a Florida Republican running for a seat in the United States House of Representatives, suggested that Black Lives Matter’s questionable finances were intentional to hide where the donations were going.
“Black lives DON’T matter to Black Lives Matter, that’s why none of the $30 million they raised ever went to help any part of the black community,” Spicer wrote in a tweet.
Black lives DON’T matter to Black Lives Matter, that’s why none of the $30 million they raised ever went to help any part of the black community.
— Lavern Spicer (@lavern_spicer) February 2, 2022