As many its supporters rioted, looted and destroyed businesses and burnt cities to the ground, Black Lives Matter raked in tens of millions of dollars in 2020, according to a detailed examination of the organization’s finances.
A financial statement, reviewed by the Associated Press, revealed that the Black Lives Matter Global Network Foundation raked in a whopping $90 million last year.
And with funds continuing to grow exponentially, the global network wants to build its infrastructure to become more widely known, BizPacReview reports.
“We want to uplift black joy and liberation, not just black death. We want to see black communities thriving, not just surviving,” said an impact report.
While Black Lives Matter gained explosive media attention this summer, the organization is not new. Their notoriety first came about in 2014 surrounding the death of Eric Garner, then they became the center of media attention again in 2020 following the death of Gorge Floyd.
The global foundation told the Associated Press that $21.7 million was committed to grants for both official and unofficial chapters around the country, as well as 30 black-led groups.
So, after spending nearly a quarter of its assets on the grants, the foundation ended the 2020 year with more than $60 million.
The organization said individual donations through its main fundraising platform averaged $30.76. Several major businesses and corporations have given money to the organization, including DoorDash, Deckers, Amazon, Gatorade, Microsoft, 23andMe, AirBNB, Glossier, Nabisco, Dropbox, Fitbit, Tinder and Cisco.
However, foundation officials refused to identify the group’s most prominent donors. Additionally, the report does not state specifically where the money went, though around $8.4 million was put towards expenses.
“One of our biggest goals this year is taking the dollars we were able to raise in 2020 and building out the institution we’ve been trying to build for the last seven and a half years,” co-founder Patrisse Cullors told the Associated Press.
Organization leaders admitted that in recent years, the organization hasn’t been transparent when it comes to its finances, but that an effort is now being made to be more open.
But, it remains unclear how the organization was able to rake in $90 million in just one year.
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