The woman who sits atop 60 million dollars worth of donated funds, after the unexplained departure of her ostensibly charitable organization's co-founders, failing to file legally required financial disclosures, and buying a multi-million-dollar real estate portfolio, surprised everyone yesterday by announcing her resignation. Claiming that it has nothing to do with criticism of her multi-million-dollar real estate–buying spree and complaints of financially stiff-arming other BLM groups, Patrisse Cullors

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announced Thursday that she is stepping down as executive director of the movement's foundation. She decried what she called a smear campaign from a far-right group, but said neither that nor recent criticism from other Black organizers influenced her departure.

Patrisse Cullors, who has been at the helm of the Black Lives Matter Global Network Foundation for nearly six years, said she is leaving to focus on other projects, including the upcoming release of her second book and a multiyear TV development deal with Warner Bros Her last day with the foundation is Friday. (snip)

The 37-year-old activist said her resignation has been in the works for more than a year and has nothing to do with the personal attacks she has faced from far-right groups or any dissension within the movement. (Al Jazeera)

That must be why her announcement came out of the blue.

Here is a five-minute video she released announcing her move:

While Cullors co-founded BLM with Alicia Garza and Opal Tometi in the wake of George Zimmerman's not guilty verdict in the Trayvon Martin death, she was the only one who remained with the foundation that took in $90 million last year, in the wake of George Floyd's death while in police custody.

The AP spoke with Cullors about her move:

'I've created the infrastructure and the support, and the necessary bones and foundation, so that I can leave,' Cullors told The Associated Press. 'It feels like the time is right.' (snip)

'Those were right-wing attacks that tried to discredit my character, and I don't operate off of what the right thinks about me,' Cullors said.

As she departs, the foundation is bringing aboard two new interim senior executives to help steer it in the immediate future: Monifa Bandele, a longtime BLM organizer and founder of the Malcolm X Grassroots Movement in New York City, and Makani Themba, an early backer of the BLM movement and chief strategist at Higher Ground Change Strategies in Jackson, Mississippi.

'I think both of them come with not only a wealth of movement experience, but also a wealth of executive experience,' Cullors said.

The BLM foundation revealed to the AP in February that it took in just over $90 million last year, following the May 2020 murder of George Floyd, a Black man whose last breaths under the knee of a white Minneapolis police officer inspired protests globally. The foundation said it ended 2020 with a balance of more than $60 million, after spending nearly a quarter of its assets on operating expenses, grants to Black-led organizations and other charitable giving. (snip)

In 2020, the BLM foundation spun off its network of chapters as a sister collective called BLM Grassroots, so that it could build out its capacity as a philanthropic organization. Although many groups use 'Black Lives Matter' or 'BLM' in their names, less than a dozen are considered affiliates of the chapter network.

There is considerable dissatisfaction over the disposition of the millions of dollars raised. The U.K. Daily Mail reports:

The head of New York City's BLM chapter called for an independent investigation into the organization's finances after revelations about the property portfolio surfaced.

'If you go around calling yourself a socialist, you have to ask how much of her own personal money is going to charitable causes,' BLM organizer Hawk Newsome told The New York Post.

'It's really sad because it makes people doubt the validity of the movement and overlook the fact that it's the people that carry this movement.' (snip)

Cullors' co-founders have left, and last summer Cullors assumed leadership of the Black Lives Matter Global Network - the national group that oversees the local chapters of the loosely-arranged movement. (snip)

BLM's Global Network filters its donations through a group called Thousand Currents, Insider reported in June - which made it even more complicated to trace the cash. Earn money online without investment daily payment.

Solome Lemma, executive director of Thousand Currents, told the site: 'Donations to BLM are restricted donations to support the activities of BLM.'

The New York Post reports:

Critics of the foundation contend more of that money should have gone to the families of Black victims of police brutality who have been unable to access the resources needed to deal with their trauma and loss.

'That is the most tragic aspect,' said the Rev. T. Sheri Dickerson, president of an Oklahoma City BLM chapter and a representative of the #BLM10, a national group of organizers that has publicly criticized the foundation over funding and transparency.

'I know some of (the families) are feeling exploited, their pain exploited, and that's not something that I ever want to be affiliated with,' Dickerson said.

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Cullors and the foundation have said they do support families without making public announcements or disclosing dollar amounts.

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Adding to the difficulty in tracing the financial flows of the millions of dollars donated to BLM is the organization's non-compliance with financial disclosure laws and its fleeing the jurisdiction of California, as Fox News reported a month ago:

A social justice nonprofit chaired by Black Lives Matter co-founder Patrisse Cullors is moving to operate in other states as it avoids filing required financial documents in California, filings show.

Cullors' nonprofit, Dignity and Power Now, was warned by California's attorney general's office in March over its failure to file all the required financial documents for 2019. According to state records, Dignity and Power Now is currently delinquent in California, where it is incorporated.

'A delinquent organization may not engage in any activity for which registration is required, including solicitation or disbursing of charitable assets,' reads an earlier warning sent to Cullors' nonprofit from California's Registry of Charitable Trusts, which was first reported by the Daily Signal.

But as the nonprofit remains in a delinquent state, records show that the organization has been active as it continues sidestepping its required financial forms. Just weeks after receiving its latest warning, Dignity and Power Now submitted an Application for Certificate of Authority on April 1 with North Carolina's secretary of state's office to conduct business in the state. Cullors is listed as an officer in the documents. (snip)

Dignity and Power Now, which formed in 2012, has failed to file an audited financial statement to accompany the group's 2019 tax forms, which did not include the required signature of an officer.

Then there is the question of her co-founders and the other groups sporting the BLM name. In December 2020, Politico headlined, 'Black Lives Matter power grab sets off internal revolt.'

The Black Lives Matter movement is buckling under