NEW: NRA Flees New York for Texas, Declares Bankruptcy But Promises to Continue Operation freebeacon.com/policy/nra-fle…
The National Rifle Association is going to relocate its charter from New York to Texas after 150 years. Wayne LaPierre is staying CEO but they're hiring a former 3M general counsel to run restructuring. freebeacon.com/policy/nra-fle…
The New York lawsuit seeking to dissolve the NRA isn't going away and Wayne LaPierre is staying on. So, ultimately, the fundamentals don't seem to have changed much with this announcement. freebeacon.com/policy/nra-fle…
Moving from New York to Texas could help them avoid future legal troubles from New York officials. But their physical headquarters are in Virginia now anyway. So, it may not make much practical difference unless they also move physical locations (which they're considering doing).
The bankruptcy sounds dramatic too but they're claiming it won't affect their operations or the size of their staff--at least not for now. They said they will continue all of their current programs. freebeacon.com/policy/nra-fle…
Their finances were down in recent years. Some of that is due to the regular political cycle but some of it was likely related to accusations of financial impropriety. They slashed expenses from prominent programs in 2019 to cover a drop in membership. freebeacon.com/2020-election/…
LaPierre told the group's board of directors in January 2020 that the NRA's legal troubles had cost the group $100 million in losses over two years. npr.org/2020/04/21/839…
The pandemic also hit the NRA hard. They had to cancel their Annual Meeting which is their largest fundraising event of the year. Eventually, they were forced to layoff a significant number of staffers despite signing up a lot of new members. freebeacon.com/coronavirus/nr…
Despite all of that, the NRA was able to raise enough money to be a significant force in the 2020 presidential election. It outspent all of the gun-control groups combined--though its spending was down significantly from 2016. freebeacon.com/2020-election/…
There are more details about the NRA bankruptcy, New York lawsuit, and move to Texas in my story. But today's actions raise more questions than they answer. Stay tuned for more stories coming down the line on this for what I'm sure will be a long time. freebeacon.com/policy/nra-fle…
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