The National Rifle Association is selling off its investments as it sees dips in revenue from membership, according to a new report.
The gun rights organization, which is one of the most influential lobbying groups in the U.S., liquidated about $40 million worth of investments last year, according to a recent independent financial audit reviewed by NOTUS. This comes as the organization’s revenue from membership dues falls, according to the outlet.
The NRA earned $51.7 million in membership dues last year, which is down from $61.8 million in 2023, according to the outlet’s review of the audit.
The organization’s work has been impacted too, with the audit revealing that spending is down on publications, “legislative programs,” and public affairs in 2024, according to NOTUS.
Overall, the organization reported its total net assets were worth nearly $16 million at the end of last year, which is down from $22 million at the end of 2023.
The NRA is carrying debt, though the total is down compared to recent years, NOTUS reports. The organization reported more than $121.4 million in liabilities by the end of last year, which is an improvement from $146 million in 2023.
The organization is also facing several legal battles, which have further strained its finances, according to NOTUS.
“The outcomes of legal proceedings and regulatory matters are often difficult to predict,” the audit reads. “A determination that the NRA’s or its affiliates’ operations or activities are not, or were not, in compliance with applicable laws or regulations could result in monetary damages or injunctive relief.”
The Independent has contacted the NRA for comment.
The NRA often makes headlines over its legal challenges.
Just last year, the NRA found itself at the center of a Supreme Court case centered on a lawsuit that alleged a New York government official violated the organization’s First Amendment rights when she told financial groups not to do business after a mass shooting at a high school in Parkland, Florida, in 2018.
The Supreme Court ruled the lawsuit could move forward, with Justice Sonia Sotomayor ruling that the NRA “plausibly alleged” the former head of the New York State Department of Financial Services violated the lobby’s right.
Sotomayor added that a government official “cannot … use the power of the State to punish or suppress disfavored expression.”
In the year since, the case has been cited multiple times by federal judges who struck down President Donald Trump’s executive orders targeting law firms, and lawyers representing elite colleges have leaned on it to challenge his administration’s legal attacks, CNN reports.
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