NRA says strongest financial position 'in years' despite filing for bankruptcy. Here's why
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The National Rifle Association (NRA) touted that it's in its best financial position in years, despite declaring bankruptcy earlier this month.
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The nation’s most politically influential gun-rights advocacy group announced on Jan. 15 that it was seeking relief in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. However, the NRA has said it is looking to re-incorporate in Texas from New York where it has been incorporated for 150 years. The group's longtime home state has filed a lawsuit to dissolve the organization.
According to a note on the NRA's website, however, the group isn't under financial constraints at all.
"Is the NRA going “bankrupt?” a Q&A section on the gun lobbying group's website read.
The NRA's response: "No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years." The group continued, saying "the NRA is not insolvent."
The NRA's website alluded to the fact that its decision to file had nothing to do with its financial position at all, but instead the result of a lawsuit against them from the state of New York.
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"This action is necessitated primarily by one thing: the unhinged and political attack against the NRA by the New York Attorney General," the NRA's website reads.
In August, New York Attorney General Letitia James’ sued the organization over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips, no-show contracts for associates and other questionable expenditures.