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So, I have been looking at the NRA's 990s to try to figure out whether they are having sufficient financial trouble to justify a bankruptcy filing (or whether they'll lose on a challenge that they've filed in bad faith). #NRA #bankruptcy.
Here's what I've seen so far... https://twitter.com/Prof_Bruckner/status/1350628557832265728
Here's what I've seen so far... https://twitter.com/Prof_Bruckner/status/1350628557832265728
The NRA's revenue from programming has huge swings. $181M in 2016
$147M in 2017
$193M in 2018
$134M in 2019
$147M in 2017
$193M in 2018
$134M in 2019
The NRA has been steadily decreasing its expenses, specifically in terms of headcount/compensation but also other expenses.
Headcount has gone from 819 (2017) to 770 (2019).
Compensation has gone from:
$68M in 2016
$67M in 2017
$64M in 2018
$57M in 2019
Headcount has gone from 819 (2017) to 770 (2019).
Compensation has gone from:
$68M in 2016
$67M in 2017
$64M in 2018
$57M in 2019
Other expenses have gone down as well from a high of $413M in 2016 to $303M in 2017. That's a BIG drop.
But it's still not enough to put them in the black. The organization's expenses have exceeded revenue in each of the last four years.
the NRA had a $46M hole in 2016, which narrowed to $3M in 2018, before swelling back up to $12M in 2019.
the NRA had a $46M hole in 2016, which narrowed to $3M in 2018, before swelling back up to $12M in 2019.
In summary, the NRA has modestly reduced headcount and related compensation (~8-9%) and substantially reduced total expenses (~27%) but still runs a deficit each year.
So, maybe the NRA does have financial issues that bankruptcy can usefully address.
So, maybe the NRA does have financial issues that bankruptcy can usefully address.
Thanks to @CountingCharity, @EOTaxProf, and @mehallb for inspiring me to take a look.
FYI @ESGreco @AndrewScurria @sparkyrandles @mhrywna
FYI @ESGreco @AndrewScurria @sparkyrandles @mhrywna
