Exclusive | Black Lives Matter suing Soros-backed Tides Foundation over missing $33M

The national Black Lives Matter movement has claimed that it is owed $33.4 million in cash held by one of its progressive partner organizations, according to exclusive information obtained by The Post.

In a pointed legal battle, the Black Lives Matter Global Network Foundation (BLMGNF) has accused the Tides Foundation, which is connected to George Soros, of engaging in “deceptive business practices” and “gross mismanagement” of funds, while urgently seeking their recovery.

This lawsuit, filed last year, took a significant turn on Monday as the BLMGNF, which oversees regional affiliates, petitioned the California Attorney General to intervene and investigate Tides.

Throughout the litigation, BLMGNF has alleged that Tides improperly spent $6 million of their donations, even after suggesting that all funds related to the group would be frozen, according to statements from their legal counsel.

“My client is forced to incur expenses just to recover their own funds, which were entirely raised by them,” stated Lawrence Segal, attorney for BLMGNF.

Segal has claimed that BLM’s funds may have even been used by Tides to cover legal expenses resulting from the lawsuit.

“Over $1 million has been allocated by Tides from my client’s donations solely for legal fees—potentially to cover their own lawyers,” Segal remarked. “It seems they are allocating charitable contributions to settle legal fees arising from this case.”

BLMGNF partnered with Tides shortly after launching its movement in 2013.

Since the group was not recognized as a tax-exempt entity at the time, it required a fiscal sponsor to manage the funds received from anonymous donors, which led them to choose Tides.

Complications arose as substantial donations flooded in following George Floyd’s tragic death in Minneapolis in 2020, with BLM receiving nearly $90 million between 2020 and 2022.

However, in comparison, Tides manages over $1.4 billion in funds from various nonprofits, but reportedly intermingles all donations, complicating financial transparency for groups like BLMGNF, legal documents claim.

“Tides does not segregate funds,” Segal disclosed to The Post. “All funds belonging to my client appear to be mingled into one large account. The fiscal sponsorships by Tides are not adequately regulated.”

Tides has yet to respond to a request for comment from The Post. The organization previously dismissed the lawsuit as “entirely unfounded” and defended its actions, stating: “BLMGNF’s lawsuit seeks to undermine the intentions of the Fund’s donors while depriving grassroots Black Lives Matter chapters of essential resources, benefiting only themselves.”

BLMGNF has also faced scrutiny regarding its management of donations. Of the $90 million influx following Floyd’s murder, the organization reportedly allocated only around $30 million to charitable initiatives in the subsequent two years.

Meanwhile, another $22 million has been consumed by various expenses, including salaries and investments.

Patrisse Cullors, one of the co-founders, faced backlash for her significant real estate purchases, as The Post uncovered in April 2021.

Though Cullors maintained that she did not use funds from BLMGNF for her real estate endeavors, she resigned shortly after that report surfaced.

Moreover, Cullors’ brother, Paul Cullors, remains affiliated with BLMGNF, earning over $200,000 annually as the “head of security,” according to federal filings.

In addition to the ongoing lawsuit, Tides has come under fire from the Congressional Ways and Means Committee for facilitating contributions for nonprofits that organized anti-Israel protests on prestigious college campuses following the Hamas attacks on Israel on October 7th.

Last year, Rep. Jason Smith (R-Mo.), the committee chair, urged the IRS to revoke Tides’ nonprofit classification. He highlighted that the group acted as an intermediary for contributions to organizations such as the People’s Forum, Students for Justice in Palestine, and the Adalah Justice Project.

“The Tides Foundation has partnered with the Adalah Justice Project and the Arab Resource and Organizing Center, engaging in actions that incite unrest, produce chaos, and disrupt university environments,” Smith remarked in his letter to the IRS dated September 24, 2024.

“They stand among the largest financiers for various groups involved in antisemitic behavior across the nation—despite their claimed tax-exempt purpose and charitable mission,” he added.

Tides has also received substantial funding from progressive billionaire Soros’ Open Society Fund, according to public records.

A trial between BLMGNF and Tides is scheduled to commence in August 2026.