Friday, December 22, 2023

LaPierre Leads NRA To Financial Problem

We noticed the 'LaPierre Syndrome' about 4 years ago.  It's not much different from 'Member of Congress Syndrome,' where one's britches become waaaayyyyy too small for one's self-perception.

So we moved on.

As did a lot of others.

...On the income side, 2022 was the fourth year in a row that revenue fell, marking its weakest fundraising year since at least 2008. Membership dues are at all-time lows, according to available public data, and staffing is at the lowest point since those costs began their downward plunge in 2016, while the group’s legal costs—largely driven by civil actions alleging rampant mismanagement of funds and self-dealing—are proportionately higher than ever.

The roughly $211 million that the NRA reported in income last year is still, of course, an enormous figure—more than double that of its handful of gun-rights competitors combined. But it’s also less than 60 percent of the NRA’s 2016 revenue high of $367 million.

That decline has driven the NRA deep into the red, leading to a $22 million deficit last year. That’s the group’s largest deficit since 2016, when it spent record sums during a vital election cycle, leaning on its high revenues and fat cash reserves as ballast for the spending binge. Today, however, the well is drying up.

The NRA’s net assets have plummeted. An internal audit obtained by watchdog group Citizens for Responsibility and Ethics in Washington shows that the group shed $36 million in value during 2022, going from $77.8 million in January to $41.8 million by year’s end....

The NRA Board, an overly-large number of of LaPierre toadies, hasn't been willing to recognize their problem--so far.

Think they'll catch on before NRA disappears into bankruptcy?

1 comment:

Anonymous said...

NRA Head Wayne LaPierre Resigns
Mr. LaPierre resigns as New York state corruption charges are set to be heard in court next week.