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NRA Financials Through End of August

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?

4 thoughts on “NRA Financials Through End of August

  1. Any competent board would wrest control away from management and stop the excessive legal spending. It remains to be seen if the NRA will be solvent by the time the NY AG case gets to trial…..

    Liked by 3 people

  2. Our NRA BoD let us down before. Maybe seeing these numbers will finally persuade them to send WLP and Wife to his ice cream shop, and maybe Millie can run the cash register #NotHoldingMyBreath

    Liked by 2 people

  3. “At what point will the board recognize that LaPierre and his cronies are too expensive a luxury for hard times?”
    The NRA Board is complicit in these numbers. That’s why nothing is being done to correct the issues.

    Liked by 1 person

  4. “when the budget projected a $676,000 surplus at this point, NRA actually ran an $11 million deficit.”

    In the companies I worked for, heads would have rolled for a miss this bad.
    We would review our budget line by line and if your lines were off by more than 3%, you got excruciatingly drilled by the President directly.
    We have ceded to much power to the internal folks. The board need to act before the organization is gone.

    Liked by 2 people

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