As the Black Lives Matter movement grapples with financial discrepancies and internal power struggles, a lawsuit against the Tides Foundation reveals the mysterious disappearance of millions in donations—raising questions about transparency and accountability within the organization.
The Tides Foundation, a major left-wing dark money organization, raised over $33 million for the national Black Lives Matter (BLM) group during the George Floyd protests in 2020. Now, BLM is suing Tides for refusing to return the funds, with nearly $9 million seemingly missing.
From 2020 to 2022, Tides transferred $8.7 million to Black Lives Matter Grassroots, an offshoot led by activist Melina Abdullah. However, Black Lives Matter Grassroots reported to the IRS that it never received the money, leaving charity watchdogs and legal experts baffled by the discrepancies.
This financial turmoil highlights broader issues of mismanagement within the BLM movement, beyond just lavish expenditures. The Global Network Foundation, the national BLM group, saw its $80 million endowment from 2020 dwindle to $29 million by mid-2023. Meanwhile, Black Lives Matter Grassroots, now a standalone charity, has opaque finances and missed tax filing deadlines.
The missing funds have led to a legal and public relations battle, with BLM Grassroots failing to account for millions reportedly transferred by Tides through One Love Global, a Michigan-based charity. Internal documents reveal that Tides' grants to One Love Global were intended for BLM Grassroots, but One Love Global’s IRS filings do not reflect these transfers.
Legal experts warn that One Love Global and Black Lives Matter Grassroots could face severe penalties for financial misreporting. The IRS mandates transparency in charitable finances, yet Black Lives Matter Grassroots has failed to file the required Form 990 tax returns, risking fines and further legal scrutiny.
As the financial controversies unfold, the integrity and accountability of the BLM movement's leadership remain under intense scrutiny, threatening the movement's future and public trust.
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