Try not to cry too hard.
Courtesy of Open Secrets:
The National Rifle Association is traditionally one of the most powerful and financially intimidating interest groups in Washington. But a new third-party audit of the group’s finances obtained by OpenSecrets raises questions about its long-term fiscal health.
The document offers the first look at the NRA’s finances in the wake of the 2016 elections. It shows that for the last two years, the NRA saw plummeting income from dues-paying members, and that has, in turn, fueled growing deficits.
The article talks about the over 31 million the organization spent to help get Trump elected, and the fact that the spike in spending was not matched by donations, which left the organization in the red.
It’s normal for the spending of an organization as politically active as the NRA to rise during election years and fall in off-years when such groups tend to fundraise and try to get their financials in order. But even with such a steep decline in spending, the NRA — one of the wealthiest, most powerful political forces in the nation — remained in the red, as its revenues tumbled by $56 million.
“Their current business model cannot be sustained the way it is going,” said Brian Mittendorf, an accounting professor from Ohio State University. “It can be sustained in the short term, but not the long term. The financial statements would indicate that.”
By the end of 2017, the group spent $26.1 million more than it brought in, expanding its existing deficit from the previous year to $31.8 million.
“The big takeaway is that there were some red flags about their long-term financial health in 2016,” Mittendorf told OpenSecrets, “and nothing alleviates those concerns in their 2017 financials. If anything, it shows they’re coming to fruition.”
This two-year deficit is a steep decline from the NRA’s $27.8 million in positive assets from 2015.
Without a political boogeyman like Barack Obama or Hillary Clinton in the White House, there is nothing easily available to scare donors with and so funds have dropped off significantly.
It could be said that the NRA’s success in helping Trump get elected is proving to be fatal to the organization.
How is that for irony?