BLM Organization Files Lawsuit Against Foundation Supporting College Protests

Black Lives Matter Global Network Foundation Inc. (BLMGNF) is taking legal action against its former partner, the Tides Foundation, claiming that the fund has failed to fulfill over $33 million in promised donations to the social activist group, as reported by the New York Post reported.

The lawsuit, which spans 285 pages and was filed in Los Angeles County Superior Court on Monday, alleges that Tides “has engaged in deceptive business practices and has operated in a quasi-banking capacity without appropriate regulatory oversight or licenses.”

Established in 1976, the left-wing nonprofit Tides Foundation states its mission is to transfer “power and resources to communities that have historically been denied both to unlock transformative change.” The complaint points out that Tides manages over $1.4 billion in assets, more than many regulated community banks, yet operates without proper safeguards.

In a statement to the Post, BLMGNF expressed surprise at falling victim to “unscrupulous business practices” within its social justice movement.

“There is an expectation for Black Lives Matter to challenge systems, break barriers, and uphold the truth, no matter how uncomfortable,” the statement said. “Today, that extends into nonprofit operations as we call out Tides Foundation and other so-called ‘fiscal sponsors’ who exploit their role.”

Following George Floyd’s death in 2020, BLMGNF received tens of millions in donations and reached out to Tides for assistance in managing the influx of funds until they could secure tax-exempt status from the IRS.

The lawsuit claims that Tides has withheld the $33 million collected and redirected some of the funds to other BLM chapters without BLMGNF’s authorization.

Tides refuted the claims in a statement, stating, “Resources in the Black Lives Matter Support Fund were never intended to be granted to large, well-funded national organizations like Black Lives Matter Global Network Foundation and were always intended to be granted to local Black Lives Matter chapters.”

“We are deeply disappointed that it has reached this stage, and that the actions of BLMGNF leaders continue to prevent us from granting funds to Black-led and Black-serving organizations that need it.

“We are confident we have done everything in our power to uphold our fiduciary commitment and responsibility to act in accordance with the intent of the fund.”

Politico recently reported that Tides, largely funded by George Soros’ Open Society Foundation, has been supporting the pro-Palestinian protests that have rocked college campuses in the past two weeks.

In response to funding the recent Columbia University protests, Tides stated that it is “committed to advancing social justice” and that its “community of fiscally sponsored projects, donors, and grantees represent a wide range of perspectives on what social justice looks like.”