The National Rifle Association (NRA) filed a lawsuit against New York Governor Andrew Cuomo earlier this year accusing the governor of bankrupting the association by encouraging the state's financial institutions to stop doing business with the NRA.
At the time, we had some reason to think that was bullshit. The NRA was still spending a lot of money, after all, but we would later learn that they were putting it all on their credit card. The NRA ran a significant deficit in 2017 as it spent far more than it took in.
The Trace recently reported that the NRA told their employees to bring their own coffee to work and that was apparently just a hint of how much trouble the association is in.
Financial records reviewed by The Daily Beast show that the NRA has seen it's revenue decline by $55 million, but the situation is actually worse than that makes it seem. The drop in revenue would have been even steeper if not for the generosity of one especially insane donor.
The National Rifle Association of America reported $98 million in contributions in 2017, down from nearly $125 million in 2016, according to new tax records obtained by The Daily Beast. Nearly one-fifth of its contributions last year came from a single anonymous donor, who chipped in nearly $19 million to the group.
More noteworthy than its drop in contributions, though, was its decline in membership dues. The NRA took in more than $128 million in dues last year—a significant sum, but down considerably from the $163 million it took in the year prior.
Following news that the NRA has seen its revenue and membership dues decline, Mother Jones reported that the association is funneling an increasing amount of money to officials including the guy who canceled free coffee.
The official, Josh Powell, is the NRA’s executive director for general operations. The Trace and Mother Jones reported two weeks ago that Powell, along with the NRA’s new treasurer, Craig Spray, is seeking to impose steep cuts to the gun group’s budget. The effort is so stringent that the NRA did away with free coffee and water coolers in its Fairfax headquarters, causing consternation among NRA staffers. [...]
According to the NRA’s latest tax filing, released earlier this month, Powell’s total compensation for 2017 was almost $800,000. Of that, the records say, $102,484 took the form of “taxable personal expenses.” Another executive, Todd Grable, generated more than $132,000 in expenses, the documents show. The filings do not specify the type of personal expenses that were paid, but an NRA spokesperson told The Trace that it provides “corporate living arrangements” for Powell “so that he may maintain a home near headquarters and address the personal living needs of his family in Michigan.”
Powell's name may ring a bell.
You may recall that he created the NRA's Murder Insurance Program, also know as "Carry Guard." The Carry Guard program is what prompted financial institutions to cut ties to the NRA in the first place; it's why they sued Andrew Cuomo. Powell himself belongs in the pantheon of unparalleled frauds.
This is the guy who's big idea is to stop serving coffee in the office.
Media Matters reports that NRATV is now laying off staff.
Powell is going to destroy the NRA and I can hardly wait.