The Washington Examiner reported that Black Lives Matter halted online fundraising Wednesday.
"We take these matters seriously and have taken immediate action," a Black Lives Matter Global Network Foundation (BLMGNF) spokesperson told FOX Business Thursday. "We have immediately engaged compliance counsel to address any issues related to state fundraising compliance. In the interim, we have shut down online fundraising as we work quickly to ensure we are meeting all compliance requirements.
The Examiner on Tuesday published a letter – dated Jan. 31, 2022 – from California Attorney General Rob Bonta informing BLMGNF that it was prohibited from soliciting or disbursing funds due to its failure to submit an annual report for the 2020 tax year as required of charitable trusts. Bonta threatened to hold individual leaders personally liable for late fees.
According to the outlet, Washington had already ordered BLM "immediately cease" all fundraising activities there on Jan. 5.
FOX Business reached out to BLM for comment Thursday but did not immediately hear back.
An investigation conducted by the Washington Examiner found that BLM has not publicly named anyone in charge of its estimated $60 million bankroll since its co-founder, Patrisse Cullors, resigned in May 2021.
Cullors stepped down as executive director of the BLMGNF after six years at the helm, but none of the individuals she appointed to replace her ever came to an agreement with the internal leadership council. It’s not known who’s officially in charge.
At the end of 2020 – the same year George Floyd died at the hands of a White police officer in Minneapolis, prompting protests and rioting across the nation -- Black Lives Matter said in an impact report that it raised $90 million, spent $8.4 million in operating expenses, distributed $21.7 million in grants to 33 other organizations and closed the year with a $60 million balance.
The group's 2019 IRS 990 report, which was filed in October 2020, showed no revenue, expenses or assets whatsoever before 2020 began. This is likely because, as the Washington Examiner reported, Black Lives Matter was not officially registered as a charity with the IRS until late 2020, and before that it funneled donations through other liberal charities.
Fox News’ Tyler Olson contributed to this report.