The National Rifle Association’s revenue is continuing to slide as record legal bills consume a growing share of its budget.
The gun rights group generated $139.7 million in the first eight months of the year, an internal NRA document reviewed by Bloomberg shows. During the same time period, the NRA’s office of the general counsel spent more than $40 million, the documents showed. The organization’s annual revenue is on track to be the lowest in more than a decade as legal costs for 2022 approach $60 million, set to exceed previous records.
One of the reasons for the decline was lagging memberships, which make up the largest source of income and fell far short of what the organization expected, the document shows. The NRA’s revenue has been declining from its 2016 peak of $367 million and the legal expenses have increased since reports of abusive spending surfaced in 2019.
