The national organization Black Lives Matter is taking legal action against a left-wing dark money group, accusing them of mishandling and withholding $33 million in funds. The lawsuit, filed in California Superior Court by the Black Lives Matter Global Network Foundation, alleges that the Tides Foundation failed to honor their promises and continues to control donations meant for BLMGNF.
According to the complaint, the Tides Foundation, supported by Democratic donors like George Soros and Bill Gates, engaged in deceptive practices and operated without proper oversight or licensing. The lawsuit highlights a regulatory loophole allowing Tides to manage over $1.4 billion without adequate safeguards, surpassing regulated community banks.
BLMGNF gained prominence in social justice movements following the murder of George Floyd, receiving significant donations. However, concerns about financial transparency and ethical issues prompted investigations. Co-founder Patrisse Cullors resigned amid scrutiny over real estate purchases.
In response to the lawsuit, the Tides Foundation denied the allegations, stating that funds were intended for local Black Lives Matter chapters, not national organizations. The legal action comes as Tides Foundation faces criticism for funding protests against Israel, following attacks by Hamas terrorists.
BLMGNF expressed a commitment to challenging systems and seeking accountability in nonprofit operations, calling out organizations like Tides Foundation for exploitation.
