BLM Sues Tides Foundation Over Mismanaged $33 Million in Donations

The Black Lives Matter Global Network Foundation has filed a lawsuit against the Tides Foundation, a progressive leftist group, alleging that it mismanaged and withheld $33 million in donations. BLMGNF claims that the Tides Foundation “refused to honor its promises and continues to commandeer BLMGNF’s donations.” The Tides Center, an affiliate of the Tides Foundation, previously acted as a fiscal sponsor of BLMGNF and is funded by influential Democratic donors, including George Soros and Bill Gates.

The lawsuit accuses the Tides Foundation of engaging in deceptive business practices and operating in a quasi-banking capacity without appropriate regulatory oversight or licenses. BLMGNF’s lawyers alleged that the Tides Foundation manages assets totaling over $1.4 billion without adequate safeguards, highlighting a regulatory discrepancy that allows the organization to operate without stringent financial safeguards.

BLMGNF gained prominence in the left-wing social justice and defund-the-police movements following the murder of George Floyd, attracting tens of millions of dollars in donations. The charity’s lack of financial transparency and ethical issues have been extensively reported, leading to state and federal investigations. The lawsuit also comes after allegations of fraudulently siphoning off $10 million from supporters, though the lawsuit was dismissed last year.

Furthermore, the former co-founder of BLMGNF, Patrisse Cullors, resigned amid legal scrutiny over her real estate purchases, including a $6 million Los Angeles mansion where she hosted parties. The newly filed lawsuit alleges that the Tides Foundation has refused to transfer millions of dollars that were pledged to BLMGNF, accusing the organization of fraud and funneling BLMGNF’s funds elsewhere.

In response, the Tides Foundation stated that the allegations in the complaint are “completely false” and clarified that resources in the Black Lives Matter collective action fund were never intended to be granted to large, well-funded national organizations like BLMGNF. The group emphasized that the funds were always intended to support local Black Lives Matter chapters and accused BLMGNF of seeking to circumvent the intent of the fund’s donors for its own benefit.

The lawsuit comes amid increasing criticism of the Tides Foundation and its affiliates for funding protests in the United States that are hostile to Israel. BLMGNF emphasized the importance of challenging systems, breaking barriers, and upholding the truth as it called out the Tides Foundation and other so-called “fiscal sponsors” for exploiting their role in nonprofit operations.

Written by Staff Reports

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