Black Lives Matter denies bankruptcy rumors after examining paperwork that reveals significant assets
It appears that the Black Lives Matter movement is not in financial trouble as has been claimed in certain articles.
According to recently submitted tax filings, the nonprofit lost money in 2022, though it maintains $30 million in assets, according to USA Today.
According to records, the BLM generated just over $9 million in its most recent fiscal year, which ran from July 1, 2021, to June 30, 2022. The company spent more money than it brought in, leaving behind nearly $12 million fewer than the $42 million in resources it recorded for the previous fiscal year, according to the 60-page report.
Co-founder Patrisse Cullors resigned from the group, and Shalomyah Bowers took her position. Shalomyah Bowers claims the company is not in danger of going out of business and that its finances are “powerful and secure.”