Wayne LaPierre, the National Rifle Association’s longtime leader, plans to retire by the end of January 2024. He cited “health reasons” when he announced his departure three days before the organization’s civil fraud trial got underway in Manhattan.
New York authorities have accused the NRA, LaPierre and three of his current or former colleagues of squandering millions of dollars the gun group had obtained from its members.
To see why the NRA finds itself in this difficult spot, it helps to first see how its business model allows for only a small margin of error. Despite the nonprofit’s long history– it was founded in 1871 by Civil War veterans who fought for the Union – the NRA has never had enough money stowed away to inoculate it from financial problems.
Consider the NRA’s circumstances in terms of its unrestricted net assets, which reflect the money an organization has available to spend after accounting for its commitments to donors.
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