They are disastrous. Compare the Year To Date Actual column with the Year to Date as budgeted. The YTD budgeted would show the best estimates as of the beginning of 2022, meaning the anticipated trend in revenue, grim as it was (a fall from the peak years 2017-2018, of $350 million down to the estimated 2022 revenue of $268 million. A 24% drop–a financial disaster.
That was the grim prediction. The reality is worse. January-August 31, membership dues were predicted as $110 million; they really were only $79 million, 28% below budget. Contributions for ILA, predicted at $20 million, only brought in $12 million. ILA cut back its spending (in an election year) and spent $19 million, out of a budgeted $24 million. Even so, when the budget projected a $676,000 surplus at this point, NRA actually ran an $11 million deficit.
Expenses: The standout is the legal costs, listed under “OGC_Secretary” (Office of General Counsel). That was budgeted for a eye-popping $26 million, but actually cost $40 million. Twice as much was spent on legal costs as was spent by the entire of ILA! Legal bills ate up more than ILA and General Operations put together. They are now 29% of NRA’s entire budget; no corporation can survive legal expenses like that. At what point will the board recognize that LaPierre and his cronies are too expensive a luxury for hard times?