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NEW YORK (AP) — A new, 63-page IRS tax filing shared exclusively with The Associated Press shows the Black Lives Matter Global Network Foundation Inc. ended its last fiscal year with nearly $42 million in net assets.
The foundation spent more than $37 million on grants, real estate, consultants, and other expenses. And it has invested $32 million in stocks from the $90 million it received as donations amid racial justice protests in 2020.
Release of this tax filing, the first public accounting of the BLM foundation’s finances since incorporating in 2017, comes on the heels of controversy over its purchase of a $6 million property in Los Angeles.
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