The collapse of Black Lives Matter (BLM) is inevitable as reports suggest that the organization is on the verge of financial insolvency. The left-wing group’s tax return, which was obtained by the Washington Free Beacon, shows that it suffered staggering losses in 2022, an $8.5 million deficit, and a $10 million decline in investment accounts, plunging the organization into debt. The organization continues to pay generous contracts to close associates and former executive director Patrisse Cullors’ family members, who have no experience or track record in social justice causes.
The BLM, which gained notoriety after the Trayvon Martin case, pledged to work for social justice and equality, but it is clear that Black Lives Matter’s radical agenda was always more focused on personal enrichment than revolutionary change. It seems that the organization’s lofty ambitions led to a severe lack of financial prudence, which ultimately led to its downfall.
Despite BLM’s declining finances, its leaders continued to indulge in a lavish lifestyle, buying luxury homes in Los Angeles and Toronto while their supporters faced a financial crisis. The organization’s financial crisis led to multiple investigations by the Internal Revenue Service and various state attorneys general.
BLM’s current leadership is also struggling with financial mismanagement and misuse of funds, and there is now evidence of the organization’s nepotism. Critics argue that the issues under former leader Cullors persist under her handpicked successor, Shalomyah Bowers. The current board of director’s President, Cicley Gay, has a financial history marked by three Chapter 7 bankruptcy filings since 2005, indicating that the organization’s troubles will continue.
It is undeniable that BLM’s demise is a victory for Americans who had grown tired of their radical left-wing agenda and destructive actions. The organization, once seen as a beacon of hope by some, is now a warning of how easily privately funded groups can be corrupted by those seeking personal gain.
BLM raised $90 million just in 2020 and tens of millions since then
Now the organization is on the verge of declaring bankruptcy
Where did all the money go?
— End Wokeness (@EndWokeness) May 24, 2023
Source: Trending Politics