"The Black Lives Matter Global Network Foundation has established a fund worth more than $12 million to aid organizations fighting institutional racism, in the wake of the George Floyd protests. On Wednesday, the foundation, which has been influential in the emergence of the broader Black Lives Matter movement, said it was setting aside $6 million in donations to support black-led grassroots organizing groups. Last week, it unveiled a separate $6.5 million fund for its network of affiliate chapters. Beginning July 1, affiliated chapters can apply for unrestricted funding of up to $500,000 in multi-year grants, the foundation announced. The foundation told the AP it has received more than 1.1 million individual donations at an average of $33 per gift since the death of Floyd, a black man who died May 25 pleading for air as a white Minneapolis police officer held a knee to his neck for nearly eight minutes. The surge of financial support adds to roughly $3.4 million in net assets the BLM Global Network had on hand last year, according to a 2019 financial statement of Thousand Currents, the fiscal sponsor which receives donations on the network’s behalf and then releases money to the group."