- The Black Lives Matter Global Network Foundation blew $12.7M of its 2020 donations on 'professional fees', documents obtained by DailyMail.com reveal
- According to IRS filings nearly a quarter of the $60M BLMGNF raised by August 2020 was spent on accountants, legal services, contractors, and consultants
- The foundation also reported it expected to spend the same amount on such costs in 2021
- The figures were included in its IRS Form 1023 filing, which is required to apply for nonprofit status. BLMGNF was recognized as a nonprofit in December 2020
- However, earlier this month it was revealed BLMGNF has not provided its latest tax return, and the 2019 filing has a non-existent address
- BLMGNF released a snapshot of its finances last February revealing it raked in $90M in 2020 and ended the year with a balance of more than $60M
- The charity, which is now in delinquent status, hasn't had anyone in charge of its finances since co-founder Patrisse Cullors resigned last May
The most high-profile Black Lives Matter group in the nation spent almost a quarter of its donations in 2020 on consultants and lawyers, DailyMail.com can reveal.
The Black Lives Matter Global Network Foundation (BLMGNF) submitted a statement of its revenue and expenses for the year while applying for tax-exempt, nonprofit status in August 2020.
IRS documents obtained by DailyMail.com show the group blew $12.7million out of the $60million in donations it received following the outcry over George Floyd's death on 'professional fees.'
The costs refer to accountants, lawyers, consultants, and contractors utilized by the organization, which includes the high-powered law firm Hillary Clinton retained for her 2016 presidential campaign - where attorneys bill $750 an hour.
The foundation also planned to spend the same amount on professional fees in 2021, the documents, exclusively obtained by DailyMail.com, show.
The figures come amid heightened scrutiny of the foundation, which famously grew into one of the largest international movements against racial injustice in mid-2020 and is now facing calls for financial transparency.
Earlier this month, the California Department of Justice threatened to hold BLMGNF's leaders personally accountable if they did not hand over information about its finances for the 2020 tax year.
The foundation was officially registered as a charity in December 2020, but it has not provided its latest tax return, and the 2019 filing includes a non-existent address.
In a financial report released in February 2021, BLMGNF confirmed it took in $90million throughout 2020, distributed grants to its partner organizations, and had $60million remaining in its accounts.
But charity auditors have since raised the alarm on BLMGNF's management of funds after it emerged that it hasn't had anyone in charge of its finances since co-founder Patrisse Cullors resigned last year.
It is not clear who is currently in charge of the activist group after all three of its founding members - Cullors, Alicia Garza and Opal Tometi - left the organization.