Black Lives Matter suing Soros-backed Foundation over missing $33M
The national chapter of Black Lives Matter says that Tides Foundation has used millions of its contributions to fund their legal defense in the suit brought against them by the civil rights group. Getty Images
The Black Lives Matter Global Network Foundation (BLMGNF) is accusing the progressive nonprofit Tides Foundation of withholding more than $33 million in donations, according to a lawsuit reviewed by The Post.
In its filing, BLMGNF charges Tides — which has received major backing from billionaire George Soros — with “deceptive business practices” and “egregious mismanagement.” The group is demanding the immediate return of its funds and has asked the California Attorney General to intervene.
The dispute escalated this week as BLMGNF alleged that Tides spent at least $6 million of its donations during ongoing litigation, despite previously agreeing to freeze all disputed funds.
“My client now has to spend money just to get their own money back — funds they raised 100% on their own,” said attorney Lawrence Segal, who represents BLMGNF. He added that over $1 million of BLM’s money may have been used by Tides to cover its own legal defense.
BLMGNF partnered with Tides in 2013, when the organization was not yet a tax-exempt charity and needed a fiscal sponsor to distribute donations. The relationship grew increasingly strained after BLM took in roughly $90 million in donations between 2020 and 2022 following the death of George Floyd.
Tides, which manages more than $1.4 billion from various nonprofits, does not separate funds for its partners, according to the lawsuit. Segal claims the system makes it nearly impossible for BLMGNF to track how its money is being used.
“Tides does not segregate monies. Everything is commingled in one massive account, with very little oversight,” Segal told The Post.
Tides has denied any wrongdoing, previously calling the allegations “completely false” and arguing that BLMGNF’s lawsuit attempts to divert funds away from grassroots chapters.
BLMGNF itself has faced criticism over how it manages donations. Out of the $90 million it raised in the wake of Floyd’s death, only about $30 million was distributed to charitable causes over the next two years. Another $22 million went to expenses such as salaries and investments.
The organization’s spending also came under scrutiny in 2021, when The Post revealed that cofounder Patrisse Cullors had purchased multiple properties. Though Cullors denied using BLM funds for personal real estate, she resigned shortly afterward. Her brother, Paul Cullors, continues to work with BLMGNF as head of security, earning more than $200,000 annually.
Tides has also been criticized by lawmakers for funneling donations to activist groups accused of organizing disruptive anti-Israel protests on college campuses following the October 7 Hamas terror attacks. House Ways and Means Committee Chair Rep. Jason Smith (R-Mo.) has called on the IRS to revoke Tides’ nonprofit status, citing its connections to groups accused of promoting antisemitic activity.
Tides has long received significant donations from Soros’s Open Society Fund, public records show.
A trial in the case between BLMGNF and Tides is scheduled for August 2026.
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