Staff Reports
A liberal group with lots of money is being accused of not managing their funds properly by the biggest Black Lives Matter organization in the country.
The Black Lives Matter Global Network Foundation (BLM GNF) is saying that the Tides Foundation didn’t handle the money well that was given to a “Black Lives Matter Support Fund” managed by Tides. BLM GNF believes that the money properly belongs to them, but Tides thinks that the donations were meant for smaller BLM groups instead.
Black Lives Matter group sues massive liberal foundation claiming ‘egregious mismanagement’ of $33 million in funds https://t.co/mv0IP80X0c via @BIZPACReview
— BETRAYED (@informedready99) May 10, 2024
The Tides Center used to work with the Tides Foundation and helped BLM GNF get donations without needing to register with the IRS. But they stopped working together in 2020.
BLM GNF is suing Tides and wants $33.4 million in damages. They claim Tides charged them a lot of money in service fees, which they believe is like charging high interest fees from a bank. BLM GNF thinks Tides is making money from their donations and hurting the communities they support.
It’s important for organizations to use the money people donate to them in the right way, especially when they promise to help their communities. BLM GNF should be held accountable if they didn’t manage their funds properly, just like they are holding Tides accountable now.
In the past, BLM GNF came under fire for buying an expensive mansion with charitable funds. It’s essential for all groups, especially those involved in important social movements like racial justice, to be transparent with how they use their money.
The riots after George Floyd’s death led to a lot of damage and loss. It’s crucial for organizations to make sure donations are used wisely to help those affected by such events.
