Reports have surfaced that the Black Lives Matter foundation is facing financial difficulties and may be headed for bankruptcy. According to financial disclosures, the foundation ran an $8.5 million deficit last year.
The organization has been criticized for its murky finances, with several liberal states barring it from raising funds in their jurisdictions. The foundation's revenue dropped 88% between 2021 and 2022, according to The Washington Free Beacon.
Additionally, Black Lives Matter fell so far behind in disclosing its finances to the public that it was unable to raise funds in certain states.
The organization also faced criticism for paying out millions of dollars to organizers as well as relatives of victims of police brutality. In particular, the brother of one of the founders was paid $16 million for security services while a sister earned $11 million for consulting services.
Despite raising over $90 million in 2020, Black Lives Matter has found itself in a precarious financial situation due to its large deficit and lack of transparency regarding its spending practices. It remains unclear whether or not the organization will be able to avoid bankruptcy and continue its mission of advocating for racial justice and equality.