Here it is, submitted last week. We see some interesting things.
The organization is getting hammered financially. Contributions fell from $105 million to $84 million, and total revenue from $282 million to $227 million. In its peak year, 2018, just before the scandals broke, total revenues were over $350 million. 2021 figures show a decline of 35% in three years.
This did not stop the organization from paying $11 million to one “consultant” (owned by the fellow who gave the LaPierres vacations and the use of his yacht, and which gives its address as NRA HQ), $13 million to a fundraiser, and $20 million to attorney Bill Brewer.
Another thing: NRA got into a legal battle with Chris Cox, who was head of ILA until LaPierre suspended him. Thereafter, Cox agreed to a severance payment, of something over $2 million. Then NRA sued him over that. A year ago, we reported that NRA has already paid Brewer’s law $8 million, to fight a $2 million case. The Form 990 discloses that NRA paid Cox $2.4 million in damages and paid his attorneys $3.7 million. So NRA was on the hook for at least $11.7 million in legal fees, to arbitrate a $2 million case!
The only sense we make of that is that LaPierre had a grudge against Cox, and if it cost NRA $11 million to act it out, well, it didn’t come out of LaPierre’s pocket. It came out of the members’ pockets. It looks as if NRA’s “leadership” has abandoned its goals of protecting the 2nd Amendment and promoting sport shooting, in favor of one of financing the legal industry.
Miscellaneous: By the bylaws, directors are uncompensated volunteers, but Marion Hammer got her usual $270,000, not bad for 5 hours work a week (also reported on the 990). Add to that her $110,000 from United Sportsmen of Florida, which is mostly financed by ILA. NRA’s total legal outlays were $36 million; the difference between this and the Brewer firm’s billings were probably attributable to the NRA’s failed bankruptcy filing that year. We’ve projected that NRA’s legal expenses for 2022 will be a ruinous $60.5 million. That’s TWICE what NRA spent in its all-out effort to elect Donald Trump in 2016, and nearly FOUR TIMES what it spent on his electoral run in 2020.
Looking at the broader picture: here are NRA’s annual revenues, in millions:
2015: $336 million.
2016: $366 million
2017: $311 million
2018: $352 million
2019: $291 million (scandals begin breaking)
2020: $282 million
2021: $227 million
2022: $208 million (we project that here).
It’s obvious that the organization is spiraling downward, rapidly. There is no reason to expect this to stop, let alone reverse. All. due to the greed of a handful of corrupt leaders, and a board that is afraid to deal with that. They would rather let the organization go bankrupt, which is where it is rapidly heading. We cannot understand why they would value being the last board of directors of this 151 year-old organization, and having to bear that dishonor forever.
Update: The arbitration was so hush-hush that we don’t know what the $2.4 million was for, an attorney friend said his guess would be the money Cox was owed plus a little in interest.