The turmoil resulting from the disasterous tenure of Wayne LaPierre has now dragged on for over four years. La Pierre’s scorched earth policy for hanging on to power is dragging the NRA down with him.
John Richardson at No lawyers – Only Guns and Money has a dive into the NRA’s finances, and it isn’t pretty.
Revenue continues downward spiral as expenses (mostly legal) will likely increase in 2023-2024. Net Income losses will likely continue 2023-2024. Cash on hand is $12M and monthly expenses are $19M. Recommended minimum cash on hand should be $57M. Additional cash required to cover -$26m projected operating loss for 2023. Additional cash required for contract liabilities of $40M to paid during 2023 Additional cash required to cover principal loan payments due in total of $28M during 2024. Line of Credit and other Notes jumped 78%. Increasing debt through loans to cover general operating expenses. Capitalizes computers in excess of $500 and other fixed assets greater than $1,500. Capitalization of purchases is artificially low and reduces expenses in order to boost net income. Assets due from the NRA foundation are $31M and inflate the NRA balance sheet. Most of the NRA foundations assets due have donor restrictions and cannot be used for general expenses.
All this adds up to a big cash crunch coming down. Hardly the sign of a well-run organization.
Richardson also links to a post that suggests La Pierre has already decided to move the NRA to Texas.
Here’s confirmation that [Wayne LaPierre’s Virginia home] is for sale, and of its ownership. Reports of a planned NRA move to Texas can be considered 100% confirmed, and in the near future. The listing has been on Realtor.com for 46 days, so the listing began in late September. The decision to move must have been finalized before then. We’re hearing rumors of offices having been leased in Irving.
We’re told that this was not discussed at the last board meeting, and that the Relocation Committee has not met in over two years. This is being done without any board input. It’s the bankruptcy lawsuit all over again. There is also no indication that the NRA’s employees have ever been told. Let’s amend that. We can assume that a handful of insiders in HQ have been told to make ready, and that everyone else is considered disposable.
The move to Texas itself is not unexpected. In August, there was a story that the NRA was closing in on a new headquarters in the Dallas-Fort Worth Metroplex. And indeed, there are sound reasons to move to the Lone Star State, though Wayne and his cronies are pulling the trigger way too late to save themselves from the legal difficulties that have ensnared them in New York. But the manner in which they’re doing it, in the dead of night without informing the board of membership, reeks of an organization ruled by a corrupt cabal for their own self-interests that are effectively divorced from the organization’s membership.
To quote myself from a previous post:
Jerry Pournelle’s Iron Law of Bureaucracy states that in any bureaucratic organization there are two kinds of people: Those devoted to the goals of the organization, and those dedicated to the organization itself. “The Iron Law states that in every case the second group will gain and keep control of the organization. It will write the rules, and control promotions within the organization.” LaPierre’s NRA has clearly been captured by the second group. Or to put it another way: “Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket.” LaPierre’s NRA has become a racket. The NRA exists to serve its members and protect the Second Amendment, not to serve and protect Wayne LaPierre.
At least that’s the way it should be. Lots of captains have gone down with their ship, but LaPierre’s refusal to step aside for the good of the organization is a case of the captain taking the ship down with him.
Not a dime until Wayne resigns.
Tags: fraud, Guns, John Richardson, Metroplex, NRA, Texas, Wayne LaPierre
“Not a dime until Wayne resigns.”
Amen. I switched to a monthly giving plan for GOA years ago. Money well spent.
What I can’t help but wonder is whether or not there’s something nefarious behind the whole situation…not the first time progs got their claws in someone at high levels of an organization they loathe. But LaPierre doesn’t need any help to be loathesome, so occam’s razor demands the outsized douchebag theory holds water.
I quit NRA after 3 decades or so because of their stupid waste of money on bubbas and RINOs while Wayne was living high.
Like you – not a penny ’till he’s gone.
Does anyone seriously think Letitia James will let up her attack on the NRA after Wayne LaPierre departs?
It’s almost like they want to make it easier not to send money their way
When Neal Knox and Harlon Carter undertook the challenge of redirecting the NRA’s purpose of enhancing civilian marksmanship to one of defeating anti-gun politicians, its membership tripled.
Compare the tens of thousands who attended the annual meeting that was held in Cincinnati to the handful who were recently on hand for LaPierre’s rubber-stamped re-election.
Under present leadership, membership has stagnated, finances have been mismanaged and precious goodwill has been wantonly squandered.
End the infamy while hope remains of rebuilding what has been lost!
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You may as well consider it a fact that every right-leaning organization will be infiltrated by left-wingers and turned against itself and its membership.
I think that’s already happened to the Republican Party. I first heard words about that years ago, when a Democrat started talking about false-flagging himself, joining the Republicans, and then taking them down from within.
Judging from what the party has been doing? I wouldn’t be surprised that that is precisely what happened. I look at Trump with a certain degree of suspicion. Dude was a Democrat for a long, long time… And, with all the controversy and dissension? Wouldn’t surprise me a bit… Add in his support for the current head of the party? I mean, WTF? Bitch is incompetent, provably so.
In any event, the NRA hasn’t done anything, really, that it wouldn’t have done if it were run by crooked Democrats. Which is why I think “Infiltrator” when I see LaPierre, and don’t send those worthless bastards a thin dime.
They basically played right into the hands of the New York State AG, with all that BS. Any competent legal advice would have said “Don’t do this…”
They did it anyway. WTF? It’s like they’re trying to sink the institution… And, all that dosh blown on a “National Headquarters and Museum”? Seriously? Why is that a priority? Why did that money get spent, when there are all these laws in all these states that contravene the 2nd Amendment? Did the NRA do a damn thing to fight any of the legislation here in my home state…? Nope; not a dime came here to oppose those laws, which were emplaced via some very shady “initiative” campaigns that lied their asses off with no pushback from the NRA. Had they publicized what the initiative actually meant by “transfer”, then those would have failed.
Is there any pushback from the NRA on the fact that having passed those laws, there’s been zero prosecution for breaking them? Not even the CHAZ/CHOP fiasco, where you have an asshole passing around semi-auto rifles from his trunk has had a single investigation or prosecution result.
That should have been publicized in every media outlet. Never was.
Remind me again… What does the NRA do?
My late father co-owned a gun shop in upstate NY, and became a Lifer in the NRA sometime before I was born; not sure if it was an actual life membership in the 1950s. Anyways, he was of the old school, focused exclusively on hunting and target shooting.
He felt that getting into politics was a serious mistake, and his store never sold semi-autos of any kind while he owned it. Only White males 21 and older were allowed to buy, or even enter the store; that included me, until I reached 21.
I share his revulsion of semi-autos, and when I entered USAF in 1977, one of the conditions that I insisted on was not firing that Mattel PO$. I’m proud to say that I’ve never fired any semi-auto of any kind; not even the M1 Garand, which Dad hated with a passion(He was US Army in the early 1950s).
After the Cincinnati debacle, he resigned his membership in disgust, and removed all traces of the NRA from the store. A few years later, he sold his interest in the store, which closed a year or two later.
I think that the only way to “save” the NRA is to return to its roots, and end ALL political lobbying; even agree to outlaw semi-autos(good luck on confiscating them, though).
I guess that makes me a Fudd, and I have a shirt that reads “They Call Me MISTER Fudd!”, with an image of a high end double barrel shotgun. I’m a life member of the OGCA, but if they take a pro-Isntreal stand, I’ll drop it instantly.
I’m sorry, but agreeing to ban the most popular and common firearm action in America as a way to “save” the NRA is one of the dumbest ideas I’ve heard in a long time. Fudds don’t care about semi-autos because they are too naive to understand that the commies aren’t just looking to ban semi-autos, they want to ban everything. They’re just playing the long game. Besides, it’s not the gun they’re focused on, it’s the control.
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