DETROIT (ChurchMilitant.com) - Black Lives Matter (BLM) is cashing in on the death of George Floyd, the black man murdered by a rogue white cop in Minneapolis on May 25, attracting hundreds of millions of dollars from foundations, corporations and individual donors.
In the wake of the recent George Floyd protests, the Black Lives Matter Global Network Foundation has established a fund worth more than $12 million to aid organizations fighting "institutional racism," according to an AP report.
Kailee Scales, managing director of the foundation, says the influx of cash represents "a watershed moment for black-power building."
"It is critical that we democratize giving to ensure all of us have access to the resources we need to reverse centuries of disinvestment in black communities," she said.
According to the BLM website, $6.5 million of the $12 million will be set aside for local chapters, and as of July 1, they can apply for grant funds of up to $500,000 to support grassroots organizing work in their respective communities.
BLM has already set up local chapters in various cities throughout the United States and Canada including Detroit, Lansing, Chicago, New York, Los Angeles, Boston, Washington, D.C., Toronto and Waterloo, Ontario.
The $12 million figure, however impressive, pales in comparison to the pledges, counted in the hundreds of millions of dollars, being made to BLM by various corporations as cited by Black Enterprise and reported on by Church Militant.
Corporate donors making multi-million dollar pledges to BLM and allied groups include:
George Soros, the atheistic billionaire famous for manipulating markets and upending national economies, and his financial organizations are also supporting BLM.
According to Church Militant senior producer Christine Niles in the recent Special Report: The Truth Behind BLM, Soros has given a total of $33 million to the cause.
The Ford Foundation and Borealis Philanthropy are significant donors as well, Niles points out, both having established the Black-Led Movement Fund "with the aim of raising $100 million for BLM and other black activist groups."
BLM also gets help from ActBlue, a major funding arm for the Democratic Party. When you click on Black Lives Matter's donate page, it takes you to an ActBlue donations page. While ActBlue processes payments for Black Lives Matter, it also acts as a fundraising arm for the Democratic Party, demonstrating the shared connections.
Contributions from individual donors (from all over the world) have skyrocketed, with BLM receiving more than $1.1 million, averaging $33 per donation, since Floyd's death.
These donations add up to "roughly $3.4 million in net assets" — all but matching the amount that BLM Global Network had on hand last year, according to a 2019 financial statement of Thousand Currents (a fiscal sponsor that works closely with BLM, according to the AP report).
Celebrities have publicized their donations to BLM and related groups (such as the well-known National Association for the Advancement of Colored People (NAACP) and Minnesota Freedom Fund, an organization dedicated to getting people out of county jails and ICE detention).
Former NBA star, Michael Jordan, and his Jordan brand have pledged $100 million over 10 years to organizations that are "dedicated to ensuring racial equality, social justice and greater access to education."
Jordan's company stated, "Black lives matter. This isn't a controversial statement. Until the ingrained racism that allows our country's institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of black people."
The Thousand Currents website describes BLM, its partner in radically transforming the social order, as "a home to black folks and our global allies, as we demand a world where black people are liberated."
BLM's purpose is "to eradicate white supremacy and build power to intervene in violence inflicted on black communities by the state and vigilantes through its educational and charitable activities," it says. "By combating and countering acts of violence, creating space for black imagination and innovation, and centering black joy, we are winning immediate improvements in our lives."
But critics see BLM as "deeply anti-Catholic" and as a radical, neo-Marxist political movement that, chapter by chapter, is spreading its influence around the world, seeking not just to fundamentally transform America (as Obama said), but the whole world.