Black Lives Matter Global Network Foundation (BLMGNF) has filed a lawsuit against the Tides Foundation, a major progressive non-profit organization funded by George Soros and others, alleging fraud and mismanagement of over $33 million in donations intended for BLMGNF.[1][2]
Key Points
- BLMGNF claims Tides Foundation refused to transfer millions of dollars in donations that were pledged to BLMGNF after it obtained tax-exempt status in 2022.[1][2]
- The lawsuit accuses Tides of deceptive practices, operating as an unregulated bank managing over $1.4 billion in assets, and diverting BLMGNF’s funds elsewhere without consent.[1][2]
- Tides denies the allegations, stating the funds were intended for local grassroots BLM chapters, not large national organizations like BLMGNF.[1][2]
- The Open Society Foundations of George Soros has contributed nearly $14 million to Tides over the years to support progressive causes.[2][3]
- BLMGNF emerged as a major social justice group after George Floyd’s murder in 2020, raising tens of millions in donations which Tides helped manage initially.[1][2]
The lawsuit highlights tensions between the national BLMGNF organization and local BLM activist groups over control of the substantial funding raised in the racial justice movement’s name.[1][2] BLMGNF accuses Tides of exploiting its role as a fiscal sponsor and calls for transparency in non-profit operations related to social justice philanthropy.[2]
Citations:
[1] https://www.washingtonexaminer.com/news/2997712/black-lives-matter-dark-money-group-lawsuit/
[2] https://nypost.com/2024/05/09/us-news/blm-global-network-sues-group-helping-fund-college-protests/
[3] https://www.opensocietyfoundations.org/newsroom/open-society-foundations-announce-220-million-for-building-power-in-black-communities
[4] https://apnews.com/article/entertainment-religion-race-and-ethnicity-george-soros-black-lives-matter-3a8b5ed85cb845960e7388e2ea4ec4e5
[5] https://www.adl.org/disinformation-conspiracies-connecting-george-soros-protests-and-antifa