NRA files bankruptcy

[Stein]

https://www.cnbc.com/2021/01/15/nra-files-for-bankruptcy-says-it-will-reincorporate-in-texas.html

WASHINGTON – The National Rifle Association said Friday that it has filed for bankruptcy as part of a larger restructuring plan aimed at moving to Texas after New York state had sought the organization’s dissolution for allegedly misappropriating funds.

The gun-rights advocacy group said it would restructure as a Texas nonprofit to exit from what it described as “a corrupt political and regulatory environment in New York,” where it is currently registered.

I wish their only problem was the state they are incorporated in.

[hunter399]

But what about that 18 million or whatever it is that they made from midway rounding up orders for years.
Hehehehe. Hahaha hahaha........

[full choke]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

[h20hunter]

I'm a member,  clearly would describe them as necessary and not argue that they are an important tool against the erosion of our rights......but I despise them as an organization and do not agree with many of their tactics.

[timberfaller]

"Where were they when Washington state needed them?"  quote from full choke

If you will look at the "vote" count back then,  NO one showed up to vote their gun rights!  It was a mid-term, Bloomie, Gates and Allen flooded the networks with money and the "gun owners" fell asleep at the wheel! One of the lowest turnouts for a mid-term in WA!

I didn't need the NRA telling me when or how to vote,  its not rocket science.   If you don't know your enemy, they'll get you every time!

[NRA4LIFE]

What have they done for us lately?

If they go under, I'm screwed.

[h20hunter]

 

[pianoman9701]

What have they done for us lately?

If they go under, I'm screwed.

They continue, as a civilian organization, to train more people with firearms for safety and use than any other organization in the world. Their corporate problems have caused this. It's a shame.

[Igor]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

[full choke]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was.
Not anymore.

[Igor]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was.
Not anymore.

So you want then to fight your battles, but with someone else's money.

[TooTallMike]

Support FPC instead. They are doing great work

[full choke]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was.
Not anymore.

So you want then to fight your battles, but with someone else's money.

Apparently my money went to Lapierre’s girlfriends house. He got laid, but I get screwed.

Preach to someone else Igor. I am done with the nra.

[h20hunter]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was.
Not anymore.

So you want then to fight your battles, but with someone else's money.

Apparently my money went to Lapierre’s girlfriends house. He got laid, but I get screwed.

Preach to someone else Igor. I am done with the nra.

True,  funny,  well put.

[wadu1]

Support FPC instead. They are doing great work

And the SAF, SAF did more for 594 and 1639 than the NRA.

[Igor]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was.
Not anymore.

So you want then to fight your battles, but with someone else's money.

Apparently my money went to Lapierre’s girlfriends house. He got laid, but I get screwed.

Preach to someone else Igor. I am done with the nra.

True,  funny,  well put.

It may be "funny".......I don't think so.  There may be a grain of truth to it.  However, over the past many, many years gun owners would be the ones who had gotten screwed had it not been for the efforts of the NRA.  It has been around, fighting the battle, for more years than most of the nay-sayers have been on this globe.

[Igor]

Support FPC instead. They are doing great work

And the SAF, SAF did more for 594 and 1639 than the NRA.

"More" how?  They worked together on both.

[actionshooter]

"Where were they when Washington state needed them?"  quote from full choke

If you will look at the "vote" count back then,  NO one showed up to vote their gun rights!  It was a mid-term, Bloomie, Gates and Allen flooded the networks with money and the "gun owners" fell asleep at the wheel! One of the lowest turnouts for a mid-term in WA!

I didn't need the NRA telling me when or how to vote,  its not rocket science.   If you don't know your enemy, they'll get you every time!

The NRA is a complete mess right now and need restructuring and a leadership change, but we would be worse off if they weren't here.

GOA and SAF are great organizations but they don't have the horse power of the NRA..

[TooTallMike]

Support FPC instead. They are doing great work

And the SAF, SAF did more for 594 and 1639 than the NRA.

"More" how?  They worked together on both.

They've had more lawsuits move forward and injunctions put in place in the last year than the NRA has done in 5.

For the bumpstock ban the NRA rolled over and FPC is still fighting for it.

I'd happily give my money and support to organizations like FPC.

You couldn't pay me to support the NRA and the mess they have become with good ol wanye steering the ship.

To each their own btw I'm not saying you're wrong for supporting them. It's just your hard earned dollars are actually put to use by FPC

[Igor]

Support FPC instead. They are doing great work

And the SAF, SAF did more for 594 and 1639 than the NRA.

"More" how?  They worked together on both.

They've had more lawsuits move forward and injunctions put in place in the last year than the NRA has done in 5.

For the bumpstock ban the NRA rolled over and FPC is still fighting for it.

I'd happily give my money and support to organizations like FPC.

You couldn't pay me to support the NRA and the mess they have become with good ol wanye steering the ship.

To each their own btw I'm not saying you're wrong for supporting them. It's just your hard earned dollars are actually put to use by FPC

I'm not saying that the NRA doesn't have some warts.   I have never been a fan of Wayne LaPierre.  But had it not been for the NRA, starting in the late 60s, you probably would not even own the guns you own today.  There are other groups that are fighting the battle as well, but I am not giving up on the NRA.  I think that the NRA has a lot of enemies trying to destroy it, and I try to give it as much support as I can.

[Sitka_Blacktail]

Good.

"a corrupt political and regulatory environment in New York"- what about within their own offices?

Screw em. Where were they when Washington state needed them? Too busy piping money into oversea's accounts to worry about helping us keep our rights.

The NRA fought against I-594 and I-1639.   Are you a member ?

I was a member for years. Then I started to get the feeling that they didn't want a once and for all Supreme Court decision. If it was settled, The NRA loses their donation base. They rolled in the dough through fear. Fear Clinton was going to take away our guns, fear Obama was going to take away our guns, fear a Democratic Congress was going to take away our guns. They liked a crisis atmosphere. It brought in the money. But have you ever seen them push for a case that would finally define gun rights? No. Because that goes against their best interest which is sucking money out of gun owners. A clear Supreme Court ruling would have put the NRA out of business.  When I figured that out, it was easy to leave them, and they haven't done anything since then to change my mind.

[RB]

Support FPC instead. They are doing great work

Who is FPC?

[RB]

What have they done for us lately?

If they go under, I'm screwed.

They continue, as a civilian organization, to train more people with firearms for safety and use than any other organization in the world. Their corporate problems have caused this. It's a shame.

 

If you step onto a range what are the range masters trained too? NRA standards.

[Igor]

A clear Supreme Court ruling would have put the NRA out of business.

Huh?  They have fought legal battles since the 60s as the battles come up.  There was never a case that could have been a "clear Supreme Court" ruling that would have put them out of business.........NEVER.  They have fought against laws in all 50 states for years........won some and lost some.  You should be thanking them instead of badmouthing them. 

[Igor]

If you step onto a range what are the range masters trained too? NRA standards.

I'm sure that the NRA is responsible for training more LEOs than any other organization.  What other gun rights organizations even offer law enforcement firearms training?  GOA......FPC.......SAF ??  I don't think so.

[TooTallMike]

Support FPC instead. They are doing great work

Who is FPC?

Firearms Policy Coalition

[RB]

Support FPC instead. They are doing great work

Who is FPC?

Firearms Policy Coalition

Thanks I'll look them up!

[Lucky1]

Here is the NRAs spin on it.

NRA Dumps New York to Reincorporate in Texas, Announces New Strategic Plan


 

Dear NRA Members & Supporters:

Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York.

The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas.

To facilitate the strategic plan and restructuring, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. As you may know, chapter 11 proceedings are often utilized by businesses, nonprofits and organizations of all kinds to streamline legal and financial affairs.

Under the plan, the NRA will continue what we’ve always done – confronting anti-gun, anti-self-defense and anti-hunting activities and promoting constitutional advocacy that helps law-abiding Americans. Our work will continue as it always has. No major changes are expected to the NRA’s operations or workforce.

Importantly, our plans do not impact your membership at any level.

NRA supporters will continue to enjoy all their full member benefits – from new members to Life Members to Benefactor Members. We will continue to publish and deliver your magazines. We will continue to train Americans and teach them firearm safety. We will continue to teach hunter safety. But most importantly, we will continue to fight for your freedom and the freedom of all Americans – as we have for all these years. In fact, we are expanding our national platform.

The plan aims to streamline costs and expenses, proceed with pending litigation in a coordinated and structured manner, and realize many financial and strategic advantages.

You know that our opponents will try to seize upon this news and distort the truth. Don’t believe what you read from our enemies. The NRA is not “bankrupt” or “going out of business.” The NRA is not insolvent. We are as financially strong as we have been in years.

But they know today’s announcement makes us bigger, stronger and more prepared for the fight for freedom.

We are leaving the state of an attorney general who, just a few months ago, vowed to put us out of business through an abuse of legal and regulatory power. ​In fact, the gross overreach of the New York Attorney General and New York Governor has been resoundingly criticized by powerful national groups like the ACLU and a host of prominent legal scholars.

Subject to court approval, the NRA is pursuing plans to reincorporate in the State of Texas. The Lone Star State is home to more than 400,000 NRA Members and the site of our 2021 Annual Meeting being held in Houston.

Texas values the contributions of the NRA, celebrates our law-abiding members, and joins us as a partner in upholding constitutional freedom.

Under this plan, we seek protection from New York officials who illegally abused and weaponized the powers they wield against the NRA and its members. You can be assured the Association will continue the fight to protect your interests in New York – and all forums where the NRA is unlawfully singled out for its Second Amendment advocacy.

This plan represents a pathway to opportunity, growth and progress.

This is the most transformational moment in the history of the NRA. And it involves all of you.

The NRA will continue to promote its Second Amendment advocacy, sponsor firearms training, and work with its network of instructors and volunteers in furtherance of its mission. This plan actually streamlines all of the NRA’s activities and improves our operational processes.

I know we have welcomed many of you to our headquarters in Fairfax, Virginia. We have no immediate plans to relocate, but we are forming a special committee to explore our strategic options in this regard. We want to determine if there are advantages to relocating our HQ operations to another state. I have asked our leadership team to explore all options that benefit the NRA and its members.

What’s most important is leading the fight for Second Amendment freedom and serving our members. We will do that from anywhere that works best for you and for our cause.

All membership dues and financial donations will be fully dedicated to supporting our operations and public advocacy. This plan actually improves our business. It protects us from costly, distracting and unprincipled attacks from anti-2A politicians aimed at attacking the NRA because we are a potent political force. We know that the gun ban lobby will never stop – fueled by a hatred of your freedoms and by wealthy benefactors. Our plan is the best way to confront them.

We are now prepared for a better future. In fact, to me, it feels like the dawn of a new day.

We are revitalized, well-positioned, and steadfast in our commitment to fight for you. To learn more, please visit www.nra.org/forward.

Thank you for your unwavering spirit and being part of the NRA’s future. Both hold incredible promise for our country – and the freedoms in which it believes.

Wayne LaPierre, NRA CEO & EVP

 

Questions & Answers

What did the NRA announce?

This is a transformational moment for the NRA. We announced a new strategic plan called Project Freedom.

The NRA’s new strategic plan involves pursuing reincorporating the Association from the State of New York to the State of Texas – home to more than 400,000 NRA members and site of the 2021 NRA Annual Meeting being held in Houston.

The NRA’s restructuring plan also aims to help the NRA streamline costs and expenses, proceed with pending litigation in a coordinated and structured manner, and realize many financial and strategic advantages.

The restructuring plan positions our organization for the future – and ensures our continued success as the nation’s leading advocate for constitutional freedom.

Is the NRA going “bankrupt?”

No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.

To facilitate its reorganization, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The NRA is not insolvent.

We expect no impacts to NRA programming.

Nothing is more important to the NRA than protecting the Second Amendment rights of our law-abiding members. We will be as effective as ever in advocating for your rights, promoting firearms education and training, and engaging in public endeavors.

What happens to my NRA membership?

Nothing. Your membership remains intact.

NRA supporters will continue to enjoy all their full member benefits – from new members to Life Members to Benefactor Members. We will continue to publish and deliver your magazines. We will continue to train Americans and teach them firearms safety. We will continue to teach hunter safety.

But most importantly, we will continue to fight for your freedom as we have for all these years. In fact, we are expanding our national platform.

Can people still join the NRA – and why should they?

Absolutely! There could not be a more exciting time to join the NRA. We are expanding our national platform, and our future is bright and secure. We invite all law-abiding gun owners and all Americans to be part of it.

By filing for chapter 11, is the NRA admitting it mismanaged donor funds?

Not at all. We have utilized all donor contributions in furtherance of the NRA’s mission. This action is necessitated primarily by one thing: the unhinged and political attack against the NRA by the New York Attorney General.

A restructuring plan is a proven mechanism for streamlining legal and business affairs. All membership fees and donations will continue to be used in furtherance of our Second Amendment advocacy.

Can you guarantee member donations will be used to protect our Second Amendment rights?

All donations are used for the purpose of advancing the NRA’s mission, period.

Should I donate to the NRA during the chapter 11 process, or should I wait until the Association emerges from the restructuring process?

We need your support now – as we confront a Biden Administration that has vowed to attack your Second Amendment freedoms. All donations are used in furtherance of our mission.

Will there be impacts to endowed funds?

No. Endowed funds will still be used to support the NRA’s core mission: protecting the Second Amendment. ​

​When will the restructuring process be completed?

This process begins immediately. The NRA is expected to emerge from these proceedings within the next six months.
What can I do to support the NRA?

Join today. Promote our cause. Get fully engaged. We must continue to win the fight for constitutional freedom.
 

[Stein]

Is the NRA going “bankrupt?”

No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.

To facilitate its reorganization, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The NRA is not insolvent.

So, how do you file bankruptcy without going bankrupt?  A bit of honestly would go a long way here.  Companies don't declare bankruptcy to reorganize, and if you file Chap 11, it is by definition going bankrupt.  My company reorganized several times from LLC, not for profit, regular corp and back and forth both in the US and international.  All done without Chap 11.  Hire a few attorneys and file a ton of paperwork.

I can't believe they haven't booted Wayne, apparently they are going to ride it Dr. Strangelove style.  As mentioned above, tons of great things over the years, but past performance cannot predict future returns.

[bearpaw]

Good decision NRA, glad to hear, I was wondering when they would get smart and get out of NY. 

I will continue to support the strongest gun advocating group in the world! Thanks to the NRA for us all being able to own the guns and magazines and ammo that we are able to own today!

[TVHunts]

I’m with several here, they still have my support and always will regardless of LaPierre at the helm. I don’t care for him either.

Sounds like it is time to contribute to the FPC as well 

[pianoman9701]

Support FPC instead. They are doing great work

You know, the groups aren't mutually exclusive. You can and should support more than one.

[TooTallMike]

Support FPC instead. They are doing great work

You know, the groups aren't mutually exclusive. You can and should support more than one.

I agree 100%. Except I know my money is being put to use by FPC.

With the NRA I'm probably buying wayne's girlfriend a new bra.

I'm grateful for what the NRA has done in the past but they aren't even the same organization anymore and the current state of it brings shame to the past work they've done.

[Stein]

Good decision NRA, glad to hear, I was wondering when they would get smart and get out of NY. 

I will continue to support the strongest gun advocating group in the world! Thanks to the NRA for us all being able to own the guns and magazines and ammo that we are able to own today!

Yeah, I'm sure Texas is more friendly, but you don't have to declare bankruptcy to move your company.  I've supported them in the past, but honestly that's a pretty bogus release.  They declared bankruptcy due to fiscal mismanagement and a pile of lawsuits relating to improper use of money.

[Igor]

Good decision NRA, glad to hear, I was wondering when they would get smart and get out of NY. 

I will continue to support the strongest gun advocating group in the world! Thanks to the NRA for us all being able to own the guns and magazines and ammo that we are able to own today!

Yeah, I'm sure Texas is more friendly, but you don't have to declare bankruptcy to move your company.  I've supported them in the past, but honestly that's a pretty bogus release.  They declared bankruptcy due to fiscal mismanagement and a pile of lawsuits relating to improper use of money.

NRA files for bankruptcy, seeking to escape New York lawsuit

The NRA filed for Chapter 11 protection in federal bankruptcy court in Dallas, and said it plans to reincorporate in Texas in a move it is calling "Project Freedom" to escape "a corrupt political and regulatory environment" in New York, where it was founded in 1871.

Friday's move will likely put the New York lawsuit on hold, and reincorporation in Texas could strip (Attorney General) James of her power to dissolve the group.

https://news.cgtn.com/news/2021-01-16/NRA-files-for-bankruptcy-seeking-to-escape-New-York-lawsuit-X5MPGnFAIw/index.html

[konradcountry]

I didn't need the NRA telling me when or how to vote,  its not rocket science.   If you don't know your enemy, they'll get you every time!

Oh stop defending them already.

They could have used their funds to air commercials instead of lining their pockets.

They gave up on Washington and California in order to fund luxury purchases that included shopping on Rodeo drive. What kind of man shops there?

Everyone should have stopped supporting them after that outrageous CEO pay raise followed by letters about how they were short on funds.

[ghosthunter]

There are no perfect people. And No perfect Pro gun clubs. I guess if you are putting the money you kept from NRA into some other pro gun, pro 2 A organization than good for you.

But if the NRA is your reason not to give to any, ahhh well don't complain when we get more restrictions.

[ghosthunter]

There has been a lot of ado made over the fact that a lot of first time gun owners bought guns this past year. And that this will help slow down new restrictions ummmm not so fast.

I think there is a whole group of folks who really don't want guns, but they bought one to have just incase. They don't shoot or give a hoot about 2A, they wont stand up against any gun law short of someone kicking in their door and coming after them. These folks will do nothing to defend their rights or yours.

[Stein]

I disagree with that Ghost, if someone in WA became a first time gun owner, they bought it because they wanted to have it.  They will absolutely be more supportive of the thing they just did compared to before when restrictions wouldn't impact them.  Since most restrictions in our state come from the ballot box, first time gun ownership is a huge thing, I would argue more important even than what happens in the legislature - which is often nothing.

I do agree it shouldn't be an NRA or nothing.  Many people simply can't support such a level of corruption and outright theft, and instead of fixing it, the leadership chose to move jurisdictions to avoid prosecution and release misinformation that allows the crooked leaders to continue to profit at the expense of the organization.  In addition to the funds pilfered during commission of the alleged crimes along with the incredible cost to cover it up, there is immense damage to the credibility of the organization which will continue for a long time.
 
There is zero indication they acknowledge the behavior or have any plans to address it.  What you see is what you get.

It's a personal call to decide when to support or not support an organization, as you mention no person or organization are perfect but some are much further from perfection than others and there is a line for everyone when once crossed they cannot go along with.

This isn't a critique of past work done by the organization or even the majority of current employees, simply a condemnation of the current leadership involved with the corruption, denial and coverup.

[ghosthunter]

Quote Stein "I disagree with that Ghost, if someone in WA became a first time gun owner, they bought it because they wanted to have it.  They will absolutely be more supportive of the thing they just did compared to before when restrictions wouldn't impact them.  Since most restrictions in our state come from the ballot box, first time gun ownership is a huge thing, I would argue more important even than what happens in the legislature - which is often nothing."


I got of feeling this will be tested this year. So we will see.

[Stein]

Yeah, the problem is the initiatives pass with a pretty good majority so it will take quite a few people changing sides to make a difference.  639 passed 60-40, so more than 10% of the people would need to change their mind and that's 310,000 people.