BLM Sues Massive Liberal Foundation: ‘Egregious Mismanagement’ Of $33 Million In Funds

(Republican Insider) – One of the greatest strengths of the radical left is their ability to maintain a united front. They have, mostly through the use of shaming techniques, kept a hive mind mentality that has forced both individuals and groups to walk in lockstep with each other, supporting one mission: the utter destruction of our republic in order to rebuild it into a socialistic nightmare produced by the twisted mind of Karl Marx.

However, it appears that due to the imperfect, fallen nature of mankind, this unity is beginning to crumble.

Robert Schmad of the Daily Caller is reporting that a liberal foundation in control of over a billion dollars in assets is being accused by the largest Black Lives Matter organization here in the United States of “egregious mismanagement” of funds. Does anyone else find this hilariously ironic?

“Black Lives Matter Global Network Foundation (BLM GNF) filed a lawsuit on Monday accusing the Tides Foundation of mishandling funds donated to a ‘Black Lives Matter Support Fund’ administered by Tides, arguing the funds belong to them. Tides, however, contests this by claiming that donations to the fund were actually intended for smaller BLM organizations,” Schmad wrote.

“Resources in the Black Lives Matter Support Fund were never intended to be granted to large, well-funded national organizations like Black Lives Matter Global Network Foundation, and were always intended to be granted to local Black Lives Matter chapters,” Tides commented during a conversation with the Daily Caller News Foundation.

“The Tides Center, which is affiliated with the Tides Foundation, previously served as the fiscal sponsor of BLM GNF, allowing the BLM group to accept tax-exempt donations without registering with the Internal Revenue Service. The two groups ended their relationship in December 2020,” the report added.

“While the Black Lives Matter Foundation seeks to recover its funds unjustly held by the Tides Foundation, our legal challenge extends beyond this specific issue,” BLM GNF said in comments made to the DCNF. “We aim to establish new rules for Tides and all fiscal sponsors, who operate like unlicensed banks, handling huge donations in ways that blur the lines of legal and fiscal sponsorship without proper oversight,” they continued.

BLM GNF is accusing Tides of having a verbal contract with them that declared money given to the fund would, at some point, be handed over to BLM GNF. They are also saying that Tide has been skimming some money off the top of donations and lining their pockets with it through service fees.

“Tides assesses fees under its agreements with these organizations, including charging a significant percentage for each contribution dedicated to BLM GNF,” the lawsuit states.

It goes on to say that Tides charges “exorbitant fees to Black and Brown” nonprofits according to the suit, which BLM GNF states is illegal due to the fees equating “to high interest rate fees similar to commercial bank fees.”

BLM GNF is now seeking $3.4 million in damages from Tides in the lawsuit.

“We are deeply disappointed that it has reached this stage, and that the actions of BLMGNF leaders continue to prevent us from granting funds to Black-led and Black-serving organizations that need it,” Tides stated in a response sent to the DCNF.

“BLM GNF has its own history of alleged financial mismanagement. The organization fell under scrutiny in 2022 when it used charitable funds to purchase a 6,500-square-foot $6 million mansion in Southern California,” Schmad penned.

For the record, it’s important to note that BLM GNF was heavily involved in the racial justice movement that came as a result of George Floyd’s death during May 2020 in Minnesota. They received a massive number of donations after Floyd’s death, then spent millions in aid and grants in order to help fund local BLM chapters.

Copyright 2024.

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