Great work from Seeker of Truth following the Black Lives Matter money trails
Tuesday, 30 June 2020
There is much controversy about donations being made to the Black Lives Matter movement.
Black Lives Matter Network is not a registered charity under IRS laws and therefore has to pay tax on the donations it receives. To overcome this, it uses Act Blue to take the donations on its behalf. It then has Act Blue pass those funds onto Thousand Currents to take advantage of its fiscal sponsor arrangement approved by the IRS whereby no tax is then payable by BLM on the donations it has received.
Thousand Currents then doles out the money to the causes that BLM chooses. Thousand Currents originates in California.
href="https://www.businessinsider.com.au/what-is-thousand-currents-black-lives-matter-charity-2020-6
"In 2016, BLM Global Network approached Thousand Currents to create a fiscal sponsorship agreement. Thousand Currents, a 501(c)(3) tax-exempt nonprofit organization, provides the legal and administrative framework to enable BLM to fulfill its mission. Fiscal sponsorship is a common structure utilized by nonprofit organizations. Oftentimes, nonprofit initiatives seek fiscal sponsorship to be able to have the fiscal sponsor handle administrative operations while the organization focuses on its programs and builds up its own organizational infrastructure. In this capacity, we provide administrative and back office support, including finance, accounting, grants management, insurance, human resources, legal and compliance. Donations to BLM are received as restricted donations to support the activities of BLM."
https://thousandcurrents.org/black-lives-matter/
A registered charity operating throughout the USA has to register in the States and the District of Columbia. It has to lodge a Unified Registration Statement. In that Statement, it is required to notify the criminal history of any board member.
https://www.nonprofitissues.com/to-the-point/should-we-ask-directors-about-criminal-record
Thousand Currents has a convicted criminal on its board of directors. She is only free courtesy of a Presidential pardon from Bill Clinton. She was a domestic terrorist during the Vietnam War. Her name is Susan Rosenberg.
https://www.influencewatch.org/person/susan-rosenberg/
Once Rosenberg's connection to this charity became known, Thousand Currents removed details of its board of directors from its website but the Wayback machine was able to resurrect the information. She is the Vice Chair of the board
Here is the 2018 Form 990 Annual Return for the Sec 501 charity Thousand Currents
https://projects.propublica.org/nonprofits/organizations/770071852/201901359349307325/full
The Schedules to that Return
https://projects.propublica.org/nonprofits/organizations/770071852/201901359349307325/full
Thousand Currents operates a investment fund called Buen Vivir Fund
https://thousandcurrents.org/buen-vivir-fund/
Here is its 2016 return when BLM first joined up -
https://projects.propublica.org/nonprofits/organizations/770071852/201811219349301736/full
Nothing is as it seems.