McBell
Unbound
The National Rifle Association of America, the nation's foremost gun lobby, has filed for bankruptcy, according to court documents filed Friday in the Northern District of Texas.
The group said it plans to leave New York State, where it was founded in 1871, and reincorporate as a Texas nonprofit in a move it is calling "Project Freedom," according to a statement published Friday.
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The NRA said Friday it is in its "strongest financial condition in years," but the restructuring will help to "streamline costs and expenses." In a Q&A published on its website, the group said it is not admitting to mismanaging donor funds, and that it does not expect any impact to NRA programming. Its headquarters currently remain in Fairfax, Virginia.
In 2019, the NRA operated at a $12.2 million deficit, according to the NRA's 2019 990 tax return, which was obtained by CNN in November. The filing also stated that the NRA became aware of a "significant diversion" of its assets in 2019 and previous years, and that LaPierre paid back nearly $300,000 plus interest in funds for the expense.
NRA files for bankruptcy - CNNThe group said it plans to leave New York State, where it was founded in 1871, and reincorporate as a Texas nonprofit in a move it is calling "Project Freedom," according to a statement published Friday.
...
The NRA said Friday it is in its "strongest financial condition in years," but the restructuring will help to "streamline costs and expenses." In a Q&A published on its website, the group said it is not admitting to mismanaging donor funds, and that it does not expect any impact to NRA programming. Its headquarters currently remain in Fairfax, Virginia.
In 2019, the NRA operated at a $12.2 million deficit, according to the NRA's 2019 990 tax return, which was obtained by CNN in November. The filing also stated that the NRA became aware of a "significant diversion" of its assets in 2019 and previous years, and that LaPierre paid back nearly $300,000 plus interest in funds for the expense.
How is it on the very same day they file for bankruptcy, they also claim they are in its "strongest financial condition in years"?
