Group Check ID (3200912310000001 ~ l 1,~ `~~ ... .. . Form 1- -~ Annual Filing for Charitable Organizations CHAR500 200 8 New York State D epartmen t o f La w (Office of the A ttorney Gene ra l ) Ch arities Bu reau - Registration Secti on 120 Broadway New York, NY 1027 1 http ://www.oag .st ate. n y .us/bureau s/chari t ies/ab out .html 1 : General Information a . F or th e fisca l year begi nning (mmVadryyyy) 01/01 / 2 0 0 8 a nd endi ng ( mR ✓ddiyyyy ) 12/31 / 200 8 b . Check if applicable for NYS : ❑ Add ress ch a n g e El c. Name of organization d . Fed . employer ID no . (EIN) (## 53-011613 0 National Rifle Association of America e . NY State reg i strat ion no . (#q-##-q#) N ame ch ange 02-21-6 4 ❑ Initia l filin g Number and street (or P .O . box if mail not delivered to street address ) c/o NRA Office of General Counsel ❑ F inal fil i ng ❑ Am e n ded fil ing 11250 Waples Mill Road ❑ NY registr a tion pe nding City or town, s t ate or country and z ip + 4 Room /su ite f. Telephone numbe r (703) 267 - 125 0 g . E mai l Fairfax, VA 22030 gcounsel@nrahq .org 12 . Certi fication - Two S i gnatures Requ i red We certify under penalties of perju ry that we reviewed this report, correct and complete in accordance with the laws f the State of I a . President or Authorized Officer spa azur e b . Ch ief Fi nancial O ffice r or Treas . Signature ig all attachments, and to the best of our knowledge and belief, they are true, capplicable to this report. dward J . Land, Jr ., Secretary P ri n te d N ame T i tl e Mon e Date Wilson H . Phillips, Jr ., Treasurer /09 V0_ Pri n te d N ame Ti tl e ate 3 . Annual Repo rt Exemption Informatio n a . Article 7-A annual repo rt exemption (A rticle 7-A registrants and dual registrants ) Check *F-] if total contributions from NY State (including residents , foundations, corporations, government agencies, etc . ) did not exceed $25,000 and the organization did not engage a professional fund raiser (PFR) or fund raising counsel (FRC) .to solicit contributions during this fiscal year . NOTE : An organization may claim this exemption if no PFR or FRC was used and either: 1) it received an allocation from a federated fund, United Way or incorporated community appeal and contributions from other sources did not exceed $25,000 or 2) it received all or substantially all of its contributions from one government agency to which it submitted an annual report similar to that required by A rt icle 7-A. b . EPTL annual repo rt exemption (EPTL registrants and dual registrants ) Check b ❑ if gross receipts did not exceed $25,000 and assets (market value) did not exceed $25,000 at any time during this fiscal year . For EPTL or Article-7A registrants claiming the annual report exemption under the one law under which they are registered and for dual registrants claiming the annual repo rt exemptions under both laws, simply complete part 1 (General Information), part 2 (Certification) and part 3 (Annual Report Exemption Information) above . Do not submit a fee, do not complete the following schedules and do not submit any attachments to this form . 4. Article T-A Schedule s If you d id not c heck the A rtic le 7 -A a nnual r eport ex em ption ab ov e , complete the followi n g fo r thi s fiscal yea r: a . D id th e organi zati o n use a p ro fessio na l fu n d ra iser, fu nd ra isi ng counse l o r c o m m e rcial co-ventu rer for fu n d ra isi ng a ct iv ity i n NY St ate? . . KI Yes* E1 No * If "Yes ", complete Schedu l e 4a . b . D id the o rganization receive g o ve rn me n t co n trib u tions ( g rants)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Q Yes' [N No * I f "Yes ", complete Schedu l e 4b . 5. Fee Submitted : See last page for summa ry of fee requirements . Indicate the filing fee(s) you are submitting along with this form : a . Art icle 7-A filing fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 25 b . EPTL filing fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 750 Submit only one check ormoney order for th e total fee, payable to "NYS Department of Law " c. Total fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 77 5 1 6. Atta c hments - For organizations that are not claiming annual repo rt exemptions under both laws, see last page for required attachments ->-~-> I CHAR500 - 2008 Schedule 4a : Professional Fund Raisers (PFR), Fund Raising Counsels (FRC), Commercial Co-Venturers (CCV) If you checked the box in question 4.a. on page 1, complete the following schedule for each PFR, FRC or CCV that the organization engaged for fund raising activity in NY State : 1 . Type of fund raising professional (FRP) : Professional fund raiser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IM Fund raising counsel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑ Commercial co - venturer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❑ 2 . Name of FRP : In f oCi s i on M an ag ement C o rp o r a ti o n Number and street (or P .O. box if mail is not delivered to street address): 325 Springside Driv e City or town , state or country and zip + 4 : Akr o n, OH 44 33 3 3 . FRP telephone number: (3 30) 6 68- 1 40 0 4 . Serv ices provided by FRP (provide description) : Pl an , p r ep a r e , man age , and co ndu c t a na ti ona l ly direct e d o utb o und telema rket ing camp a i g n t o a ctive, l ap s ed, o r p o te n tial member s/ d ono r s . 5 . Compensation arrangement with FRP (provide description): Compen s ation i s o n a pe r c a l l b asis . 6 . Da t esofcont ract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08 / 0 1/2 009 (mm/dd/yyyy) through 7 . Amount paid to FRP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0 7 /31/ 2 0 1 0 (mm/dd/yyyy) 4,784,07 9 8 . If se rv ices were provided by a CCV, did the CCV provide the charitable organization with the interim repo rt(s) required by §§ 173-a . 3 of the Exe cutive Law? N/ A C H A R 5 0 0 - 2 00 8 NATIONAL RIFLE ASSOCIATION OF AMERICA FINANCIAL STATEMENTS as of December 37 , 2008 and 200 7 AND REPORT THEREON NATIONAL RIFLE ASSOCIATION OF AMERIC A TABLE OF CONTENT S Page Report of Independent Auditors Financial Statements : Statements of Financial Position Statements of Activities Statements of Cash Flows Notes to Financial Statements 5-19 McGiadrey& Pullen Certified Public Accountants Report of Independent Auditors To the Board of Directors and Members of the National Rifle Association of Americ a We have audited the accompanying statement of financial position of the National Rifle Association of America (NRA) as of December 31, 2008, and the related statements of activities and of cash flows for the year then ended, These financial statements are the responsibility of the NRA's management. Our responsibility is to express an opinion on these financial statements based on our audit . The financial statements of the NRA for the year ended December 31, 2007, were audited by other auditors whose report, dated March 8, 2008, expressed an unqualified opinion on those statements . We conducted our audit in accordance with auditing standards generally accepted in the United States of America . Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement . An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements . An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation . We believe that our audit provides a reasonable basis for our opinion . In our opinion, the 2008 financial statements referred to above present fairly, in all material respects, the financial position of the National Rifle Association of America as of December 31, 2008, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America . The accompanying financial statements are those of the National Rifle Association of America only and are not those of the primary reporting entity . The consolidated financial statements of the NRA and its affiliates have been issued as the financial statements of the primary reporting entity . AC o~~ March 3, 200 9 McGladrey & P ullen , LLP is a mem ber firm of RSM International, an affiliation of separate and independent leg al entities. ~ / Z-,--,,- NATIO NAL RIFLE AS SOC I ATION OF A MER ICA STAT EM EN TS OF FIN A N C IA L POSI T IO N as of December 31, 2008 a nd 2 0 07 ASSETS 2 0 08 Cash and cash equivalents Investment s 23,200,952 1 ,498,468 29,707,650 35,988,780 1 ,089,96 3 26,891,344 12,229,135 8 ,976,851 15,282,92 4 6,903,96 8 1,610,643 3,165,695 35,936,027 4,256,876 2,113,89 2 3,215,11 2 35,892,17 8 4,690,388 $ 131,342,619 $ 142,141,522 Pledges receivable, net Accounts receivable, net Due from affiliates Inventories and supplies, net Prepaid expenses Notes receivable, net Property and equipment, net Other assets Total asset s 2007 LIABILITI ES AND N ET AS S E T S $ 13,129,376 $ 13,503,22 7 50,035,123 25,834,20 5 26,166,156 18,143,254 33,519,558 61,609,730 107,473, 909 134,466,720 Unrestricted Temporarily restricted Permanently restricted 1,788,111 1,158,321 20,92 2 ,278 (17,968,654) Total net assets 23,868,710 71674,802 $ 131,342,619 $ 142,141,522 Accounts payable Accrued liabilities Notes payable Deferred revenue, ne t Total liabilitie s Net assets : Total liabilities and net assets The accompanying notes are an integral pa rt of these iinancial statements , 2 5,734,78 0 19,908,67 6 NAT IO N AL RIFLE ASSOCIATION OF AME RICA STATEM ENTS OF ACTIVITIES for the years eked December 31 , 2008 and 2007 moa Umeatriclad 2001 Temporarily Permanently Res4icted Restrlcied Tota l Unrestricted Ternpora* Permanently Retricled Restricted Tota l Revenue and other support DAem be rs' dues PP09F811 EBBS Contributions Advertising Member sales InwshneM income, net $ 145,034,392 5,288,336 4 7,282, 295 20,365,6 11 13,455,503 ln6q~ aam4+iso-auan fees (3,072 ,901 ) 8,756,787 Rental broom s 1.752.075 Other Assets relea s ed from restric§ons T otal reverw e and olher support Expenses: Program services: Legislatlv a progra ms Pubfmations Pubfie aHaTs CorTetl9ons Education and training Huller service s Field sd vkes Law erdorcemenl Re veational shooting $ S 6,620,488 - ( 1 2,02 5,269) (3 ,776,478) 30,310 ,728 1 2,411, 241 - 5,048 .828 4,905,24 8 - 7,205 .502 10,969,545 7,781 165 S 3 - 11,493,458 (3,444,596) 6, 756,7 01 2,475 88 5,877,036 1,712,075 4.419,879 1,727 .97 2 4,313.172 9,377,252 (9,371,252) 250.555,5 34 333,7 80,549 2,27 7.837 - 23, 047,650 16,749,753 - - - 30,310,726 29,426,906 1 ,559,0 18 1.737. 836 - - 4,578.025 - - 4.578 .02 5 895,521 9,748 206 - - 895,52 1 9,7 48,20 6 2,899.907 4,744.340 - - 2.699,907 4,744,34 0 - 94,7 28 ,59 4 - - 68,3 07 ,71 8 - - 5 ,016.828 4,805,248 1,205,502 10.889,545 3 .787 .585 - 492,982 - - 97,664,7 55 84,718 ,594 - Member 9eVoes and acquisfd on AdinFllstra live 49,7 83 ,414 - - 49, 183, 474 7,691 .072 - - Ece G11rve oRice 7,991 ,072 15, 208,115 88,307.7 18 7,470.722 15,209,713 Flmd'aising 34 299,6 56 Not (Jost) gain on pension obligation Change Ifl net asset s Net amts (deRciq, bviilmmng of year Net ossets,and of year 2 1 4,0 37,61 2 204.037,612 49, 230,7 98 15, 055,2 27) (9,776,478) (799 ,96 1) 7 ,013,602 1,788,111 (5 ,85 5,208) ( 4,279.634) (4,576, 458) 5,734 ,780 5 1)58.32 7 202,735,93 4 1 3 1 ,0 24,61 5 46,467,922 (4,99 ,634) (20. 139 ,172 ) 19 ,758,765 (1 7, 988,654) 14,270.962 27,977 ,93 8 34,289,058 1 ,01 3,602 1 5, 908,878 S 20,92 2,278 $ The a ccanpmy ing notes are an Integral p art of these financial statements 3 1,090 ,395 1 6,19 3,908 7 ,674,802 23, 86 8,750 130,162,124 S (148, 130,776) ( 1 7.988,fi54) 3 ,394, 809 - S ,H77,03 8 - 1,727 .37 2 4,313.472 2,792,031 338,790 ,417 16,749 ,75 3 29,028,906 492 ,882 7 .470,722 14.270,96 2 27977.938 20 2,755 ,93 4 2,217,937 (785 ,19 0) (1 .187.69 6) (20,139,172) 11,483, 458 10 ,858,01 5 4,731,93 6 - - 55,673 ,28 9 222.9 08, 087 - - 97,664,755 Urceafzed Masos on invashnan fs, not Unrealized loss on dmira5va ins trument 5,379,701 845,3 37 2,792 ,031 419,513 - - Total e xp enses Change in net asset s Were other changes S 228 ,fi 1 9 ,274 4,7 92, 83 8 13, 9 56,503 17 ,175 ,57 8 - 22,909 .087 12,411,241 - - - - - 4 1 ,7 65,502 5,379,701 845,337 Women's issues S - - 228.619,274 4,792,838 - 7.03,601 23,047 ,660 145,034 .392 5, 288,336 56 ,910,3 23 20,385,841 - - 253,268 ,4 1 6 S - (371,685) - 4,419,879 12,025 1269 1,013,602 2,792,071 (25,159 538,034,48 3 (810,399) - (1 , 187 ,598) 2, 192, 67 8 f 3, 542,102 4731,760 1 ,090 ,995 735,1 46,839 2,782,031 1 7, 7 16,645 S 18, 908,6 76 S (127, 472,031) 7, 874,8 02 NATIONAL RI FLE AS S O CIATION OF AME R ICA STATEMENTS OF CASH FLOW S for the years ended D ecember 31, 2008 and 2047 2008 Cas h flows from op e ra ting activities : Ch ang e i n net a ssets Ad justmen ts to reconcile ch a n g e in ne t a sse t to net cash provi ded b y operatin g activities : D epreciation a nd a mortizat ion P rovision for losses on accoun ts receivable P rovision for losses on notes receivable 200 7 16,193,908 $ Contributions permanently restricted for long-term Investment Net unr e alized an d realized losse s (gai ns) on investmen ts Unrealized loss on derivativ e instrument Net loss (gain ) on pens ion obligation Net loss on disposal of asset s C h ange s in assets and liabilities: Increas e in pledges re ceiv able, ne t (Increase) decre as e in a ccoun ts rece ivable, ne t Decrease (incre ase) in du e fr om affiliates (Increase) decrease in inventories and su p p lies, net Decrease (increase) in prepaid expenses Decrease in other assets Decrease in a cco unts p ay able (Decrease) Increase in accrued liabilities Decrease in deferred reve nue, net Total adjustments N e t cash provide d by operating activities Cash flows from inv estin g act ivities : 1 35, 146, 8 33 $ 2,435 ,273 6,378,341 ( 1 ,01 3 ,602) 10, 1 5 0,25 8 4 ,279,6 34 20,1 39,172 243,78 5 2 ,002 ,7 97 2,951,921 1,170,953 .31 ) ( 2,792 ,0 (1,432 ,545) (408, 505) (9 ,1 94,647) 3 ,053,789 (2,072 ,883) 50 3 ,249 433 ,5 1 2 ( 3 73,85 1) (217,888) (4 3,4 66,4 7 6) (989,963) 2 ,51 3,57 3 (1,313,770) 2 ,588 ,54 6 (286,914 ) 1 ,1 67 ,696 (1,090,395) 125,5 36 24,951,64 2 (666, 9 0 5) 1 ,1 17 ,69 1 (159,945,489) (1 29 ,926,8 57 ) 5,220,176 (9,130,839) 7, 063 ,069 Sale of investments P urch as e of investments Purchase of property and equipment P urchase of films Principal pay ments re ceived on not es receiva bl e Ne t c ash used in investing activities Cas h flows fr om financing activities : Change in ca sh ove rdraft Princi pal payment s on notes payable P rincipal paym ents on line of credit Draw downs on line of cre d it Contributions permanently rest ri cted for fang-term in vestmen t Net cash u se d in fin anci ng activities Net increase in cash and cash eq uivalents Cas h a n d cash equ iv a lents at beginnin g of year $ C ash a nd ca s h e qu iv alen ts at e nd o f y ear 69 ,85 1, 680 (67,014,1 1 0) (2 ,422 ,907) (300, 000) 4 9,41 7 ( 35,920 ) 58 ,66 1,870 {5 7216,999} ( 1 ,965,239) (588 ,402) (29,950,892) 23 , 1 85,892 1 ,01 3,60 2 (6, 339, 6 00) (2,046, 842} (557, 248) (47 ,4 1 7 ,000) 45,209 ,000 2,792,031 (2,020,059 ) 687,349 2,723,499 1 0,072 ,973 7,349,4 7 4 10,760,322 43,750 (476,618 ) $ 19,072 ,973 Supple men ta l disclosure of c ash flow inior matlon: $ 1 ,821 ,008 Cash paid durin g the year for interest The accompa n y in g n ote s are an integral part of th e s e finan cial statements . 4 $ 2,211,584 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S 1 . NATURE OF ACTIVITIES AND SIGNIFICANT ACCOUNTING POLICIES The National Rifle Association of America (NRA), founded in 1871, is a not-for-profit corporation supported by the membership fees of public-minded citizens and clubs . Its primary purpose is to protect and defend the Constitution of the United States of America, especially the political, civil and inalienable rights of the American people to keep and bear arms as a common law and Constitutional right of the individual citizen , The NRA's Board of Directors formed the Institute for Legislative Action (ILA) in 1975 as an internal division of the NRA. The purpose of ILA is to prevent the passage of laws and regulations restricting firearms ownership, as well as pursuing changes to existing restrictions imposed by federal, state and local governments . ILA is supported principally by contributions from NRA members . Basis of Presentatio n The NRA publishes financial statements in the NRA's annual report that include the financial statements of certain affiliated entities, which are its primary financial statements for the years ended December 31, 2008 and 2007 . These financial statements for the years ended December 31, 2008 and 2007 are not intended to be the primary financial statements of the NRA and have been prepared in conformity with accounting principles that would otherwise be considered a departure from accounting principles generally accepted in the United States of America because certain affiliated organizations are not consolidated . Affiliates of the NRA whose financial activities are not included in these financial statements of the NRA include the following : the NRA Foundation, Inc . (Foundation), the NRA Civil Rights Defense Fund (CRDF), the NRA Political Victory Fund (PVF), the NRA Special Contribution Fund (SCF) and the NRA Freedom Action Foundation (FAF) . The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and other support and expenses during the reporting period . Actual results could differ from those estimates . Certain amounts from the prior year have been reclassified to conform with the current year presentation . Classification of Net Asset s To identify the observance of limitations and restrictions placed on the use of the resources available to the NRA, the accounts of the NRA are maintained in three separate classes of net assets : unrestricted, temporarily restricted, and permanently restricted, based on the existence or absence of donor-imposed restrictions. Unrestricted net assets represent resources that are not restricted, either temporarily or permanently, by donor-imposed stipulations . They are available for support of the NRA's general operations . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S Temporarily restricted net assets represent contributions and other inflows of assets whose use by the NRA for its programs are limited by donor-imposed stipulations . These restrictions are temporary in that they either expire by passage of time or can be fulfilled and removed by actions of the NRA pursuant to those stipulations . Permanently restricted net assets represent endowment contributions and other inflows of assets whose use by the NRA are limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled and removed by actions of the NRA pursuant to those stipulations . Cash and Cash Eauivalents Highly liquid investments, consisting principally of money market funds, under the control of the NRA's investment managers, are considered investments . However, the NRA considers any other investments with an original maturity of three months or less at the date of purchase to be cash equivalents . The NRA generally invests these excess funds in repurchase agreements for U .S . government securities . The maturity date of these repurchase agreements is the next day of business . Due to the short-term nature of these agreements, the NRA does not take possession of the securities, which are instead held by the NRA's principal bank from which it purchases the securities . The carrying value of the investments approximates fair value because of-the short maturity of the agencies . The NRA believes that it is not exposed to any significant risk on its investments in repurchase agreements . Substantially all the cash and cash equivalents were held at one financial institution in Virginia at December 31, 2008 and 2007 . Concentrations of Credit Ris k The NRA maintains a cash balance in excess of federally insured limits in an interest bearing account . The NRA's policy is to deposit funds only in financially sound institutions. Nevertheless, these deposits are subject to some degree of credit risk . Investments are maintained in financial institutions . Concentrations of credit risk with respect to accounts receivable that are not collateralized are limited due to the large number of members comprising the NRA's membership base and their dispersion across many different geographies . Investments Investments are carried at fair value as determined by an independent market valuation service using the closing prices at the end of the period . To adjust the carrying value of the investments, the change in fair value is included in other changes in the statements of activities . Interest income and dividends are recorded on the accrual basis . Accounts Receivabl e Membership, advertising and other accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the NRA's best estimate of the amount of probable credit losses in existing accounts receivable . The NRA determines the membership accounts receivable allowance based on the aging of accounts receivable, where three or more monthly or quarterly invoices are past due . The NRA determines all other allowances based on historical write-off experience and specific identification . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S The allowances for doubtful accounts are reviewed monthly and accounts receivable balances are written off against the allowance when the NRA feels probable the receivable will not be recovered . Inventories and Supplie s Inventories and supplies are stated at the lower of cost or market, using the first-in, first-out method . Provisions are made to reduce the inventories to net realizable value in cases of obsolescence . Property and Equipment Property and equipment are stated at cost, less accumulated depreciation . Donated assets are recorded at the appraised or estimated fair value at the time of donation . Expenditures for maintenance and repairs, which do not prolong the useful lives of the assets, are expensed . Depreciation is computed on the straight-line method over the assets' estimated useful lives . Buildings and improvements are depreciated over useful lives ranging from 20 to 45 years, other property and equipment is depreciated over two to ten years . The NRA capitalizes complete desktop and laptop computers greater than $500 and all other fixed assets greater than $1,500 . Museum Collection s The value of the NRA's firearms museum collection has been excluded from the accompanying statements of financial position . Only purchases of firearms and other objects, and not donations, are recognized in the statements of activities . The firearms and other objects in the NRA museum are not intended for sale or exchange . Members' Dues A portion of members' dues that represents the present value of the cost of the magazine that is a benefit of membership for the given membership term is deferred and amortized over the life of the membership. The portion considered a contribution is recorded as revenue when received . Contributions Contributions, whether unrestricted or restricted, are recognized as revenue when earned and classified in the appropriate net asset category . When the temporary restrictions are met by the NRA which were specified by the donor, temporarily restricted contributions are released from restriction and are recognized in the unrestricted net asset category . Derivative Financial Instruments Interest rate swaps are accounted for under Statement of Financial Accounting Standards No . 133, Accounting for Derivative Instruments and Hedging Activities. As a not-for-profit organization, the NRA is not allowed to use cash flow hedging . Therefore, the interest rate swap is recorded in the balance sheet at fair value with fair value changes recorded as an unrealized loss on derivative instrument on the statements of activities (Note 8) . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S Valuation of Lona-Lived Asset s NRA accounts for the valuation of long-lived assets under Statement of Financial Accounting Standards (SFAS) No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets . SFAS No . 144 requires that long-lived assets and certain identifiable intangible assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable . Recoverability of long-lived assets is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset . If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets . Assets to be disposed of are reportable at the lower of the carrying amount or fair value, less cost to sell . The NRA had no impairments of long-lived assets during 2008 or 2007 . Outstanding Legacies The NRA is the beneficiary under various wills and other agreements, the total realizable amounts of which are not presently determinable . The NRA's share of such amounts is not recorded until the NRA has an irrevocable right to the bequest and the proceeds are measurable . Functional Allocation of Expense s The costs of providing program services and supporting activities have been accounted for on a functional basis in the statements of activities . Accordingly, certain costs have been allocated among the program services and supporting activities . Tax Status The NRA is exempt from federal income taxes under Section 501(c)(4) of the Internal Revenue Code and from state income taxes . The NRA activities that cause imposition of the unrelated business income tax provision of the Code result in no significant tax liability . NRA has adopted the provisions of FASB Interpretation No . 48, Accounting for Uncertainty in Income Taxes, during the year ended December 31, 2008 . For the period from NRA's inception to December 31, 2008, no unrecognized tax provision or benefit exists . Deferred income taxes, if any, are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences . Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases . Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized . Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment . The NINA had no deferred tax assets or liabilities as of December 31, 2008 and 2007 . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S The NRA files income tax returns in the U .S . federal jurisdiction and various state jurisdictions . With a few exceptions, the NRA is no longer subject to U .S . federal, or state and local, income tax examinations by tax authorities for years before 2001 . When tax returns are filed, it is possible that some positions taken would be sustained upon examination by the taxing authorities, while others would be subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained . The benefit of a tax position, if any, is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of any appeals or litigation processes. Tax positions taken are not offset or aggregated with other positions . Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority . The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above would be reflected as a liability for unrecognized fax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination . Any interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of activities . For the years ended December 31, 2008 and 2 0 07, there were no such interest and penalties . Management believes there are no positions that would result in additional tax liability ; therefore, no liability for unrecognized tax benefits was recorded as of December 31, 2008 and 2007 . 2 . INVESTMENTS Investments as of December 31, 2008 and 2007 consist of : 2008 200 7 Money market funds Common stocks U .S . Treasury note s U .S . Government agencies Corporate bond s ether $ 2,430,325 $ 1,494,973 10,476,534 26,474,97 0 1 , 192, 439 2 , 149 ,442 3 , 539, 242 3 , 281 , 256 1 , 269, 757 3 , 697 ,301 1,060,396 2,123,097 $ 23,200,952 $ 35,988,780 Investment income for the years ended December 31, 2008 and 2007 includes the following : 2007 2008 Realized (losses) gains, net $ (4,295,050) $ 2,242,894 Unrealized losses, net (5,855,208) (810,349) 850,454 1,151,91 5 Dividends and interest $ (9,299,804) $ 2,584,46 0 Interest income of $120,111 and $120,718, earned from notes receivable for 2008 and 20 07 , respectively, is included in dividends and interest . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Subsequent to year-end, the credit and liquidity crisis in the United States and throughout the global financial system has resulted in substantial volatility in financial markets and the banking system . These and other economic events have had a significant adverse impact on investment portfolios . As a result, the NRA's equity investments have likely incurred a decline in fair value since December 31, 2008. 3 . PLEDGES RECEIVABL E At December 31, 2008 and 2007, donors to the NRA have unconditionally promised to give amounts as follows : 2008 Within one year One to five years More than five years Less : discount of pledges receivable Less : allowance for uncollectible pledges 2007 $ 602,000 1,100, 000 $ 275,00 0 900,000 1,702,000 (115,917) 150,000 1,325,000 (168,787) 1,586,083 (87,615) $1,498,468 1,156,21 3 (6 6 ,250) $1,089,963 Pledges due in more than one year have been recorded at the present value of estimated cash flows, discounted by rates ranging from 3,02% to 4 .97% . 4. ACCOUNTS RECEIVABL E Accounts receivable as of December 31, 2008 and 2007 consist of : 2008 Membership Contributions Advertising Other $ 31,718,916 3,326,399 3,536,994 1,200,790 39,783,099 10,075,449 $ 29,707,650 Less : allowance for doubtful accounts 200 7 $ 25,189,877 3,073,419 3,905,020 3,771,928 35,940,244 9,048,900 $ 26,891,344 Following are the changes in the allowance for doubtful accounts during the years ended December 31, 2008 and 2007, respectively : Allowance at beginning of year Provision for losses on accounts receivable Write-offs, net of recoveries 2008 $ 9,048,900 $ 6,378,341 (5,351,792) 2007 3,953,529 2,951,92 1 2,143,450 Allowance at end of year $ 10,075,449 $ 9,048,9 00 10 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S 5 . INVENTORIES AND SUPPLIE S Inventories and supplies as of December 37, 2008 and 2007 consist of: Sales inventories Supplies : Magazine pape r Fulfillment and promotional materials Othe r Less : obsolescence allowanc e 2008 $ 5 ,058 , 212 $ 2007 3 , 496 ,95 0 1 ,454 , 430 2 , 987 , 830 1 , 569 ,41 3 2,447,51 1 45,25 1 46,69 9 9, 545 , 723 7, 560 , 57 3 568 , 872 656, 60 5 $ 8,976, 851 $ 6,903,968 6. NOTES RECEIVABLE Notes receivable as of December 3 1 , 2008 and 2007 consist of: Interest Rate 2008 2007 3,000,000 NRA Special Contribution Fund 4 .0% $ 3, 00 0,000 $ 0 .0%-7 .0% 165,695 215,112 Shooting range loans $ 3,165,695 $ 3,215,11 2 The note receivable from the SCF is a demand note, collateralized by a first deed of trust on approximately 33,3 0 0 acres of land south of Raton, New Mexico . As of December 31, 2008 and 2007, interest in the amount of $120,000 and $120,000, respectively, was received . The total interest receivable remaining is $3,639,073 and is included in other assets in the statements of financial position. 7 . PROPERTY AND EQUIPMEN T Property and equipment as of December 31, 2008 and 2007 consist of : onnQ Land Buildings and improvements Furniture, fixtures and equipmen t Less : accumulated depreciation 4,auc " roV 42,113,121 14,376,537 61,392,108 25,456,081 $ 35,936,027 ')Am %0 't, U uc "fvu 41,947,08 2 12,928,266 59,777,798 23,885,620 $ 35,892,178 Depreciation expense for the years ended December 31, 2008 and 2007 was $2,435,273 and $2,002,797, respectively. 8 . NOTES PAYABLE AND CREDIT AGREEMENT S At December 31, 2008 and 20 07, $26,166,156 and $26,754,558, respectively, was payable under a credit agreement with a bank . Under the terms of the credit agreement, the NRA pays a fixed rate of 6,18% on the entire balance . The agreement expires on October 1, 2014 . NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S This credit agreement incorporates a swap agreement . This swap agreement is recognized on the statements of financial position in accrued liabilities at its fair value of $6,815,045 and $2,535,411 as of December 31, 2008 and 2007, respectively . The NRA maintains a $18,500,000 line of credit agreement with the same bank which expires on October 31, 2009 . Under the terms of this agreement the NRA makes monthly interest payments on the daily outstanding principal at a variable rate based on the 30-day LIBOR rate, plus 0 .60% . At December 31, 2008 and 2007, $0 and $6,765,000 was payable under the agreement at interest rates of 2 .40% and 5 .83%, respectively . On the line of credit agreement, the NRA has pledged as collateral $21,119,278 at December 31, 2008, in cash and investments held in certain custodial accounts by the bank . For the credit agreement, the NRA has pledged as collateral a deed of Trust on the NRA Headquarters Building , The NRA is subject to financial covenants associated with the note payable and line of credit agreements . The NRA and its consolidated affiliates must maintain minimum cash and investment balances . The aggregate maturities of such required principal payments under the above agreements at December 31, 2008 are as follows : 2009 2010 $ 631,14 4 671,846 2011 2012 715,17 3 756,971 2013 2014 and thereafter .810,11 1 22,580,91 1 $ 26,166,156 Interest expense for the years ended December 3 1 , 2008 and 2007, was $1,711,608 and $2,113,150, respectively. FAIR VALUE OF FINANCIAL INSTRUMENT S The NRA adopted Financial Accounting Standard No . 157, Fair Value Measurements ("FAS 157" ) , at the beginning of the 2008 year and there was no material impact to the financial statements . FAS 157 applies to all assets and liabilities that are being measured and reported on a fair value basis . FAS 157 requires new disclosure that establishes a framework for measuring fair value in GAAP, and expands disclosure about fair value measurements . This statement enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories : Level 1 : Quoted market prices in active markets for identical assets or liabilities . Level 2 : Observable market based inputs or unobservable inputs that are corroborated by market data . Level 3 : Unobservable inputs that are not corroborated by market data . 12 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S In determining the appropriate levels, the NRA performs a detailed analysis of the assets and liabilities that are subject to FAS 157 . At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3 . The estimated fair values of the NRA's short-term financial instruments, including receivables and payables arising in the ordinary course of operations, approximate their individual carrying amounts due to the relatively short period of time between their origination and expected realization . The fair value of the NRA's notes payable approximates fair value as the interest rate on the underlying instruments fluctuate with market rates . The table below presents the balances of assets and liabilities measured at fair value on a recurring basis by level within the hierarchy . As of December 31, 200 8 Levell Level 2 Level 3 $ 23,200,952 $ 23,200,952 $ - $ 1,498,468 602,000 - 896,46 8 Total assets $ 24,699,420 $ 23,200,952 $ - $ 896,4 68 Interest rate swap Total liabilities $ ( 6,815,045) $ (6,815,045 ) $ $ - $ (6,815,045) $ (6,815,045) $ $ Total Available for sale securities Pledges - - 10 . TEMPORARILY AND PERMANENTLY RESTRICTED NET ASSET S Temporarily restricted net assets are available for the following purposes : 2008 $ 500,000 82,874 67,797 16,109 6,188 33,227 452,126 $ 1,158,321 Legislative programs Law enforcement Education and training Field services Competitions National Firearms Museum Other Other, passage of time Total 13 2007 $ 1,007,47 8 108,159 669,940 49,93 1 119,95 1 1,006,51 0 125,31 1 2,647,50 0 $ 5,734,78 0 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Permanently restricted net assets are restricted to investment in perpetuity, the income from which is expendable to support : 2007 2008 $ 7,374,30 3 $ 7,670,583 National Firearms Museum 5,630,354 6,117,37 6 Legislative programs 3,805,94 6 4,016,847 Education and training 1,478,053 1,466,053 Competitions 639,930 638,53 5 Law enforcement 41,37 8 41,478 Field services 952,10 7 958,011 Other $19,908,67 6 $20,922,278 Total In August 2008, the Financial Accounting Standards Board (FASB) issued FASB Staff Position (FSP) No . FAS 117-1, Endowments of Not-for-Profit Organizations : Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosures for All Endowment Funds . FAS 117-1 addresses accounting issues related to guidelines in the Uniform Prudent Management of Institutional Funds Act of 2006 (UPMIFA}, which was adopted by the National Conferences of Commissioners on Uniform State Laws in July 2006 . The Management of the NRA has interpreted UPMIFA as requiring the preservation of the fair value of original donor-restricted endowment gifts as of the date of the gift absent explicit donor stipulations to the contrary . As a result of this interpretation, the NRA classifies as permanently restricted net assets (a) the original value of cash gifts donated to permanent endowment and (b) the discounted value of future gifts promised to permanent endowment, net of allowance for uncollectible pledges . The remaining portion of donor-restricted endowment funds not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the NRA in a manner consistent with the standard of prudence prescribed by UPMIFA . In accordance with UPMIFA, the NRA considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds : ■ The duration and preservation of the fun d ■ ■ The purposes of the NRA and donor-restricted endowment fund General economic condition s ■ The possible effect of inflation and deflatio n ■ ■ ■ The expected total return from income and the appreciation of investments Other resources of the NR A The investment policies of the SER A The NRA has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to the programs supported by its endowment while seeking to maintain purchasing power of the endowment assets . All earnings of the endowment are reflected as temporarily restricted net assets until appropriated for expenditure in the form of program grants . 11. RETIREMENT PLAN S Certain NRA employees participate in a non-contributory, defined benefit retirement plan (the Plan) . Benefits under the plan are generally based on years of service and final average pay . The NRA's policy is to fund pension costs as accrued . Effective January 1, 2008, the NRA amended the Plan so that employees hired on or after January 1, 2008, will not be eligible to participate in the Plan . 14 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S The primary investment objectives of the Plan are to provide a long-term, risk-controlled approach using diversified investment options, The NRA may consider all asset classes allowed by the Employee Retirement Income Security Act of 1974 and other applicable law as acceptable investment options . The net periodic pension costs for the years ended December 31, 2008 and 2007 consist of the following : 2008 $ 2,235,625 3,251,376 Service cost - benefits earned during the year Interest cost on projected benefit obligation Return on plan assets Recognized net actuarial loss Net amortization and deferral Net periodic benefit cost (3,263,352) 155,758 $ 2,379,407 200 7 $ 2,335,67 3 3,001,004 (3,045,915) 40,17 6 167,09 1 $ 2,498,02 9 The following table sets forth the defined benefit pension plan's funded status and the amount of accrue d pension costs for the plan years ended December 31, 2008 and 2007 (using a measurement date o f December 31) : 2008 2007 Change in benefit obligation : $ 55,049,603 $ 52,861,379 Projected benefit obligation at beginning of year 2,335,673 2,235,625 Service cost 3,251,376 3,001,00 4 Interest cost 4,032,759 (1,460,138) Actuarial loss (gain) Benefits paid Projected benefit obligation at end of year (1,909,318) (1,239,135 ) 55,049,603 63,109,225 Change in plan assets : 37,851,009 Fair value of plan assets at beginning of year 40,778,919 (12,998,819) 2,019,725 Actual return on plan assets Employer contributions 3,298,502 2,147,320 (1,239,135) Benefits paid (1,460,138) Fair value of plan assets at end of year 29,618,464 40,778,919 Accrued pension costs reflected in the consolidate d statements of financial position in accrued liabilities $ ( 33,490,7 L _t__(14,270,684 ) Accumulated benefit obligation $ {52,463,268) $ (45,803,774 ) Amounts recognized in unrestricted net assets : Total net loss Prior service cost Total $ Resulting statements of financial position items: Liability for pension benefits Unrestricted net assets Total 15 $ $ 25,083,230 1,527,990 26,611,220 $ 4,788,300 1,683,74 8 6,472,04 8 $ (33,490,761) $ (14,270,684) $ 26,611,220 (6,879,541) $ 6,472,04 8 (7,798,636 ) NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S Since FASB No . 158 requires the recognition of the plan's funded status on the statement of financial position, the reconciliation of funded status is removed and the amounts recognized in the statements of financial position have been changed to amounts recognized in unrestricted net assets . The estimated net loss and prior service cost for the defined pension plan that will be amortized from net assets into the net periodic benefit cost over the next year are $143,625 and $155,758, respectively . The following weighted-average assumptions were used in calculating the above benefit obligations, net periodic benefit cost and fair value of plan assets at December 31, 2008 and 2007 : 2008 2007 6 .00% Discount rate used to determine benefit obligation 6 .00% Discount rate used to determine net periodic benefit cost 6 .00% 5 .75% Rate of compensation increase 5 .00% 5 . 00% 8,00% 8 .00% Expected return on plan assets At December 31, 2008 and 2007, the asset allocation of the NRA's pension plan assets was as follows : 2008 Asset category : Equity securities Debt securities 58% 33 Real estate 2007 60% 32 9 8 100% 100 % The NRA contributes to the plan based on actuarially determined amounts necessary to provide assets sufficient to meet benefits to be paid to plan members . NRA annually funds the minimum required contribution . Expected contributions for the plan year ending December 31, 20 09, are $4,919,454. The following plan year benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 10 fiscal years : 2009 2010 2011 2012 2013 2014 - 2018 (total) $ 1,890,000 2,040,00 0 2,420,00 0 2,580,00 0 2,710,00 0 17,410,00 0 In addition, in 1997, the NRA established a 401(k) plan for employees. The plan, available to all employees after 90 days of service, permits participants to contribute a portion of their salary on a pre-tax basis . The NRA matches participant contributions based on plan provisions . Participants are 100% vested in employer contributions after three years service . The vested balance is available to participants at termination, retirement death, disability, hardships or through eligible loans . Employer contributions to the 401(k) plan totaled $1,579,386 and $945,717 for the years ended December 31, 2008 and 2007, respectively . 16 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S 12. RENTAL OPERATIONS AS LESSO R The NRA leases a portion of its headquarters building to tenants under various operating leases . These leases include renewal options and escalation clauses and require that the tenants pay for their prorated share of the building operating expenses . The following is a schedule of minimum future rentals on noncance(lable operat i ng leases as of December 31, 2008 : 2009 2010 2011 2012 2013 2014 and thereafter Total minimu m future rentals $ 1,445,99 3 1,346,77 9 1,015,15 8 652,21 1 424,99 6 93,63 6 $ 4,978,77 3 Total rental income for the years ended December 31, 2008 and 2007 was $1,712,075 and $1,727,372, respectively . 13 . OPERATING LEASES AS LESSE E The NRA leases warehouse, office space and equipment under noncanceliable operating leases with terms expiring through 2014 . The lease agreements for various office space include renewal options and escalation clauses and require that the NRA pay for shared operating expenses , The annual minimum payments related to these obligations as of December 31, 2008 are as follows : 200 9 2010 2011 2012 2013 2014 and thereafter $ 471,97 1 311,27 9 178,26 3 89,31 0 91,27 2 7,647 Total minimu m payments required $ 1,149,742 Total lease expense for the years ended December 31, 2008 and 2007 was $863,869 and $797,334, respectively, 17 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 14. RELATED PARTIE S The NRA is affiliated with the Foundation, the CRDF, SCF and the FAF by virtue of the control vested with the NRA's Board of Directors to appoint the Board of Trustees of each affiliate . The PVF is a separately incorporated political action committee of the NRA whose five officers are NRA employees . The NRA provides certain benefits to the affiliates at no cost, among which are the use of office space and other administrative and support services . Management has determined that the fair value of these benefits is minimal, and accordingly, no amounts are reflected in these financial statements . The Foundation reimburses the NRA for certain expenses, such as salaries, benefits, and general operating expenses, paid by the NRA on the Foundation's behalf . As of December 31, 2008 and 2007, $11,721,660 and $15,110,895 respectively, was owed to the NRA and included in due from affiliates for reimbursements and pass through funds still held by the Foundation . In addition, certain qualified NRA programs were funded by Foundation grants totaling $10,296,023 and $8,477,471 for the years ended December 31, 2008 and 2007, respectively . The CRDF reimburses the NRA for general operating expenses paid by the NRA on the CRDF's behalf . As of December 31, 2008 and 2007, $(166) and $422, respectively, was owed to the NRA for general operating expenses and included in due from affiliates . All permanent employees of the SCF are maintained as employees of the NRA and the SCF reimburses the NRA for the total employee costs including benefits . The SCF reimburses the NRA for certain other expenses paid by the NRA on the SCF's behalf . As of December 31, 2008 and 2007, $507,641 and $171,607, respectively, was owed to the NRA for salaries, insurance and benefits net of certain other expenses owed by the NRA to the SCF and included in due from affiliates . The NRA paid administrative and fundraising expenses of $4,376,378 and $1,172,917 for the years ended December 31, 2008 and 2007, respectively, on behalf of the PVF . 15 . CHANGE IN ESTIMATE Under accounting principles generally accepted in the United States of America, a portion of NRA "dues" have the characteristic of a contribution and the NRA accounts for the funds as such . The main purposes of the solicitation of funds from potential members are the promotion of gun safety and the defense of the Constitutional right to keep and bear arms rather than to provide a direct individual benefit to a member . Other minimal member benefits represent those items a member is currently entitled to receive upon payment of dues, such as an NRA magazine and specific personal insurance coverage . In 2007, the NRA began deferring the portion of members' dues that represented the fair value of future benefits of the member for the given membership term . Prior to 2 007, members' dues were recorded as deferred revenue with an offsetting provision for uncollectible member accounts . Members' dues and the related provision for uncollectible member accounts were recognized as revenue and member services and acquisition expense, respectively, over the term of the applicable memberships, ranging from one to twenty years . In 2008, further assessments were made resulting in the determination that the present value of the cost of the magazine is a benefit of membership that is a more reasonable basis for estimating the deferred revenue . 18 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENT S The changes resulted in a decrease in the amount of revenue deferred for membership dues and an increase in membership dues in the amount of $42,236,587 and $1 66 ,386,818 as of and for the years ended December 31, 2008 and 2007, respectively . Also, due to this change, in 2007, the NRA changed its estimates related to deferring costs associated with the acquisition of memberships and related changes in the allowance for doubtful accounts . This resulted in a decrease in deferred costs and an increase in membership services and acquisition expenses in the amount of $25,345,351 and an increase in bad debt expense of $5,603,733 for the year ended December 31, 2007 . This change in estimate was made to conform to the change in estimate noted for deferred revenue above . The net effect of these changes to the change in net assets for the NRA for the years ended December 31, 2008 and 2007 was a net increase of $42,236,587 and $135,437,734, respectively. 19 PUBLIC DISCLOSURE 990 Return of Organization Exempt From Income Tax °"'~"°'~'~- 00d '~7 OO 8 Form Un d er se c tio n 601 (c) , $27 , or 4947(a ) (1 ) of the Internal Reven ue Code ( except bl a ck l ung ben efi t trus t or private f oundat io n ) ~j Departmen t of the Treasury W The or9 anization ma Y have to use a co PY of lhls return to satisfY state reportin9 reQuirements Internal Revenue se rvice Fnr the ?AOR calanrlar vaar nr Far vaar haninninn . and wndin o .A B Check If apphtgble ! Please am 0 Employer Identification numbe r C Name otorpanization NATIONAL RIFLE ASSOCIATION OF AMERI Address cha nge use IRS lebo l or Name change print or Number and st reet (or P.O box if mail is not delivered to street add re ss) Roondsuito E Telephone number 11 Initial return Termination ❑ Amended return Application pending Doing Business As 53 .011613 0 ty pe, see 11254 WAPLES MILL ROAD 703-267-100 0 spocillc City or town, slate or country , and ZIP + 4 instmc ~ G G r oss recei pts $ Boos , FIR AX VA 22030-7100 F Name and address of principal officer : H(a) Is this a group return for affiliates? WILSON H . PHILLIPS JR . 11250 WAPLES MILL RD FAIRFAX, VA 220 H(b) Are all affiliates Included? I Tax-exempt status : E 501 (c) ( J Website : Ili, www.nre .org X Corporation K Type of organlzadon: a ) a (insert no . ) Ll 4947(a)(1) or EI Trust 0 Association 328,184,94 7 Yos a No ❑ YesQ No If "No," attach a fi st . (see insiruct ions) E1 527 e Grou exemption number r L Year of formation: M Stale of legal domicile: VA 1871 0 Other ► Summary 1 Briefly describe the organization's mission or most significant activities ; TO PROTECT AND DEFEND THE U .S CONSTITiITfbh1; TO PROMOTE PUBLIC SAFETY, LAW AND ORDER, AND THE NATIONAL DEFENSE :_T07RAIN. -LAW ENFORCEMENT ._ __ ._ . _ .AGENCIES; T6 7RAIN CIVILIANS IN MARKSMANSHIP ;, 70 FOSTER AND PROMOTE THE SHOOTING SPORTS; TO PROMOT E HUNTER SAFETY . 2 Check this box ► [ 'J if the organization discontinued its operations or disposed of more than 25% of Its assets . 3 N umber of voting members of the governing body (Part VI , line 1 a) . 3 76 4 N umber of independent voting members of the governing body (Part Vi , line 1b) . 4 70 5 Tota l numbe r of employees (Part V , line 2a) . 6 778 6 Total number of volunteers ( e st i mate i f necessa ry ) . 6 125 , 0 0 0 7a Total gross unrelated business revenue from Part VIII , line 12 , column (C) . 7a 21,330,992 7b 0 b N et unrelated business taxable income from Form 9~J0 -T line 34 . Current Yea r Prlor Year 8 Contributions and grants (Pa rt VIII, line 1 h) , 9 P rogram serv ice revenue (Part VII I , l i ne 2g) . 10 In vestment Income (Part VIII, column (A), l i nes 3 , A, and 7d) . 11 Other revenue (Pa rt VIII, column (A), lines 5, Gd , Sc , 9c, 10c , and 11e) , 12 Total revenue-add lines 8 through 11 (must equal Part VIII column (A), line 12 13 Grants and similar amounts paid (Part IX , column (A) , lines 1-3) . 14 Benefits paid to or for members (Part IX , column (A), line 4 ) , 15 Salaries, other compensation , employee benefits (Part (X, column (A), lines 5 - 10) 1 6 a P rofessional fundraising fees (Part IX, column (A), line 11e) . b Total fundraising expenses (Part IX , column (0), l i ne 25) ► ____ ., .29,110,5x 7 17 O the r expenses (Part IX , column (A), lines 11a-11d, 11f-24 0 . 18 Total expenses , Add lines 13-17 (must equal Part IX , column (A) , l i ne 25) . 19 Revenue less expenses . Subtract line 18 from li ne 12 . 283 , 340 a34 4,792,638 1 189 , 415 42,947,658 332,270,545 _ 293,616 0 ~ 41,978,415 0 205,026,13 8 5, 288 , 33 6 -3,393,596 41,055,90 4 247,976,782 312,00 0 0 44,269 , 458 5,165,66 7 153,825,345 196,097,376 136 173,1 6 9 168,306,109 218,053,23 4 29,923,54 8 Beginning of Year 20 Total assets (Part X, line 1 6 ) . 21 Total liabilities (Part X, line 26) . 1z9 LL 22 Net assets o r fund balances . Subtract line 21 from line 20 . Signature Bloc k End of Yea r 142,141,522 134 ,466,720 , 7,674 B02 131,342,61 9 107,4 73 , 909 23,868 , 71 0 Under penalties of perjury , I declare that I have examined this return, including accompanying schedul es and statements, and to the best of my knowledge and ballet, It S ig it Here j Is tru ^corrQCt~ an '~ ' ~~1 am ~lele . Declaration at preparer (other than officer) Is based on ell information of whi ch pre parer has any knowledge . ~ r+ . -• Signature of officer ~ r W ILSON H . PHILLIPS JR . Type or print name and title Preparer's Paid signature P r9pa1'er's Use Only Rrm 'sae(or urs RSM MCGLADREY, INC . It s elb empoye) , TREASURER AND CHIEF FINANCIAL OFFICE R Date Check if Preparer's Identifying number (seeinsUudtons ) self- J SW E 10/30/200 9 Date 10l3~/2009 employed ►❑ I P00248556 EIN ► 41-194441 6 address and 21P+ 4 8000 TOWERS CRESCENT DR T~ 500 VIENNA VA 22184 Phone no . ► 703-336-6400 . May the IRS d i scuss this return with the preparer shown above? (see instructions) . For Privacy Act and Paperwork Reduction Act Notice , see the separate instructions . (HTA) (X] Yes L] No Fo r m 990 (2008) 0 Exempt Organization Declaration and Signature for o Ms N 4. i6a r-,87 Filin g FOIm 8453-E Electronic 2008 Forcalendar year 20 0 0,ortaxyear beginning ,,,,,,_,_ ,, 200 0 , a nd ending . . . . . . . , 20 Department of the Treasury For use with Forms 990, 890-EZ, 890•PF, 1120-POL ., and 886 6 I► Soo Instructions on back. internal Revenue Sorvtee Name of avmmM nrnnnirellnn Cmnlnunr Idnnlltinnlinn numhn r Type of Return and Return Information (Whole Dollars Only ) Check the box for the return for which you are using this Form 8453 . 0 and ontor the applicable amount from the return, If any , If you check the box on fine I a, 2a, 3a, 4a, or 5a below and the amount on that )]lie for the return for which you are filing this form was blank, then leave line 1 b, 2b, 3b, 4b, or 5b, whichever is applicable, blank (do not enter -0-) . If you entered -0- on the roturn, then enter -0- on the applicable line below . Do not complete more than one line In Part I . 1a Form 990 check here ► X b Total revenue, if any (Form 990, line 12) . 7b 247,976,782 0 2a dorm 990-EZ check here ► ❑ b Total revenue, If any (Form 990-E7.., line 9) , 2b 3a Form 1120-Ppl, check here ► ❑ h Total tax (Fom) 1120•POL, line 22) , 3b 0 4a Por ►n 990-PP check here ► ❑ b Tax based on Investment income (Form 990-PF, Part VI, line 5) 4b 0 0 5a Form 8868 check here ► ❑ b Balance due (Form 8868, line 3c) . 6b Declaration of Office r 6 ❑ I authorize the V .S . Treasury and Its designated Financial Agent to Initiate an ACH electronic funds withdrawal (direct debit) entry to the financial institution account Indicated In the tax preparation software for payment of the organization's federal taxes owe d on this return, and the financial Institution to debit the entry to this account . To revoke a payment, { must contact the V .S . Treasury Financial Agent at 4-888-353-4637 no later than 2 business days prior to the payment (settlement) date . I also authorize the financial institutions involved In the processing of the electronic payment of taxes to receive confidential information necessary to answer Inquiries and resolve Issues related to the payment . ❑ if a copy of this return Is being filed with a slate aponcy(les) regulating charities as part of the IRS Fed/Slate program, I cerllty that I executed the electronic disclosure consent contained within this return allowing disclosure by the IRS of this Form 990/990•E7J990•t'F (as specifically Identified in Part I above) to the selected state agency(ies) . Under penalties of perjury, I declare that I am an officer of the above named organization and that I have examined a copy of the organization's 2008 electronic return and accompanying schedules and statements and to the best of my knowledge and belief, they are true, correct, and complete . I further declare that the amount In Part I above Is the amount shown on the copy of the organization's electronic return, I consent to allow my Intermediate service provider, transmitter, or electronic return originator (SRO) to send the organization's return to the IRS and to receive from the IRS (a) an acknowladgemonl of receipt or reason for rejection of the transmission, (b) an Indication of any refund offset, (c) the reason for any delay In processing the return or refund, and (d) the date of any refund . Sign Here I lc3 30 2ooll T'R CA k:i tt ER. lol vje~,~ ~ Signature of officer Dafe Titl e Declaration of Electronic Return Originator (ERO) and Paid Preparer (see instructions ) I declare that I have reviewed the above organization's return and that the entries on Form 8453•EO are complete and correct to the best of my knowledge . If I am only a collector, I am not responsible for reviewing the return and only declare that this form accurately reflects the data on the return . The organization officer will have signed this form before I submit the return . I will give the officer a copy of all forms and Information to be flied with the IRS, and have followed all other requirements In Pub . 4183, Modernized e-file (Mel) Information for Authorized IRS e-file Providers for Business Returns, if I am also the Paid Preparer, under penalties of perjury I declare that I have examined the above organization's return and accompanying schedules and statements, and to lho best of my knowledge and belief, they are true, correct, and complete . This Paid Preparer declaration is based on all Information of which I have any knowledge . ~RQ S u S8 Date Check If Chock a lso p aid it s elh (~} pfCpa rpr ❑ employed El ERO's signature ~._ Fitm'a name (or yours if sal t-employed) , i ERO's SSN or PTIN O n ly_ _Rftouarld Xip&ode__ Phone no . Under penalties of perjury, I declare that I have examined the above return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, cor rect, and com plet e. Declaration of papere r is based o n all information of which the pr eparer ha s any knowledge . Gheck Date Paid Preparer's Use Only P reparer's s l nature Firm's name (or (~~lj ~ g 1 0(30(200 9 arme1lo ad MCGLADR EY INC, 8000 TOWERS CRESCE 7 DR STE 600 VIENNA VA 22184 odd oss8 e'nd7.l ~code~ For Privacy Act and Papetwork Reduction Act Notice, see back of ioYin . (Hrn) Ptoparer's 5SN or P 'fIN El 1'0024055 5 kI N 41 - 194441 0 Phone no. 703 .336•640 0 Form 8 453• E0 (2008) r... (s ~ 31,~, Vo cj &-o f Application for Extension of Time To File an Exempt Organizat ion Return Form (Rev . April 2U08} OMB No. 1545-1 7 09 oaMtraent of the Treasur y Internal Revenue Service D File a separate application for each return . ► ❑ • If you are filing for an Automatic 3- M onth Ext ension, comp l ete only Part I and check this box , • If you are filing for an Add i tiona l (N ot Au tom a t i c) 3 - Mont h Extensio n, complete only P art II (on page 2 of this form). Do n ot complete Pa rt 11 unless you have already been granted an automatic 3-month extension on a previously filed Form 8868 . A ut omatic 3-Month Extension of T ime . Only submit original (no copies needed) . A corporation required to file Form 990-T and requesting an automatic 6-month extension--check this box and complet e Part I only . ► ❑ Al! other corporations Qncluding 1120-C filers), partnerships, REMICs, and trusts must use Form 7004 to request an extension of time to file income tax returns . Electronic F iling (e-file) . Generally, you can electronically file Form 8868 If you want a 3-month automatic extension of time to file one of the returns noted below (6 months for a corporation required to file Form 990-T) . However, you cannot file Form 8868 electronically if (1) you want the additional (not automatic) 3-month extension or (2) you file Forms 990-BL, 6069, or 8870, group returns, or a composite or consolidated Form 990-T . Instead, you must submit the fully completed and signed page 2 (Part 11) of Form 8868. For more details on the electronic filing of this form, visit www.trs,gov/efile and click on e-file for Charities & Nonprofits , Type or Name of Exe mpt Organiza t ion print National Rifle Asso ciation of America He by the Number, street, and room or suite no . If a P .O . box, see instructions. due dale for fi ling your Employer identification number 53 011613 0 11250 Waples Mill Roa d City, town or post office, state, an d ZIP code. For a foreign addres s, see ins tructions . Fa i rfax, Virginia 2003 0 Check type of return to be fi led (fil e a separate application for each ret urn) : 0 Fo rm 990 ❑ Form 9 90-T (corpo ratio n) ❑ Form 990-BL ❑ F o rm 9 90-T (sec . 401 (a) or 408(a) trust) ❑ Form 990-EZ ❑ Form 890-T (trust other than above) ❑ Form 990- PF ❑ Form 1 0 4 1 -A retu rn. Se e Instructions. ❑ ❑ ❑ ❑ Form 4 72 0 Form 522 7 Form 6069 Form 88 7 0 • The books are in the Dare of ► r a tiona l Rifle Association, 11 250 W aples Mill R d . ; Fairfa x , VA 2203 0 Telephone No . ► L _?R3 -)--------- 267 .1600--------- FAX No . ► t---705 --}-------- 267.3923 ----•e if the organization does not have an office or place of business In the United States, check this box a O • If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) . If this Is for the whole group, check this box . . . . . . ► ❑ , If It Is for part of the group, check this box . , . . . . ► ❑ and attach a list with the names and EiNs of all members the extension will cover. 1 I request an automatic 3-month (6 months for a corporation required to file Form 990-T) extension of time until ------ Au~ust 15 20_09 _ to file the exempt organization return for the organization named above . The extension is for the organization's return for : ► Q calendar year 20 ._A- .o r ► ❑ tax year beginning ------------------------------------ 20 . . . . . . ,and ending_ . . .. . . . . . . . . . .. . . . . . .. .. . . . . .. . . . . . 20-----: ❑ Initial return ❑ Final return ❑ Change In accounting perio -2Ifthisaxyeroln12mths,cekraon d 3a If this application is for Form 990-BL, 990-PF, 990-1, 4720, or 6069, enter the tentative tax , b If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated ta x payments made, include any prior year overpayment allowed as a credit . 3b $ c Balance Due. Subtract line 3b from line 3a . Include your payment with this form, or, if required , deposit with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Paymen t System) . See Instructions, 3c $ Caution, If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment Instructions . For Privacy Act and Paperwork Reduotion Act Notice, see Instructions. Cat. No . 27916D Form 8868 (Rev. 4-2008) Form 8868 (Rev . 4 -2008) Page 2 • If you are filing for an Add i tio nal (Not Automatic) 3-Mo n th Exte nsio n, complete on ly Part 11 and check this box Note. Only complet e Part II If you have already been granted an automatic 3-month extension on a previously filed Form 8868 , ► ❑ • If you are filing for an Automatic 3- Month Extension, complete on ly Part I (on p age 1). Additional (Not Automatic) 3-Month Extension of Time . Only file the original (no copies needed) . Type or Name of Exempt Organization Employer Identification number print National Rifle Association of America 53 011613 0 File by the Number, street, and room or suite no . If a P.O, box, see Instructions, For IRS use only extendea due date for 1 1250 Waples Mill Roa d filing thee City, town or post office, state, and ?JP code . For a foreign address, see Instructions. return, sa instructions. Fairfax, Virginia 2203 0 Check type of return to be filed (File a separate application for each return) : m Form 990 ❑ Form 990-PF ❑ Form 1041-A ❑ Form 6069 ❑ Form 990-BL ❑ Form 990-T (sec . 401 (a) or 408(a) trust) ❑ Form 4720 Q Form 8870 ❑ Form 990-EZ ❑ Form 990-T (trust other than above) ❑ Form 622 7 STOP! Do not complete Part II If you were not already granted an automatic 3-month extension on a previously filed Form 8868 . • The books are in the care of ► National Rifle Association, 11250 Waples Mill Road, Fairfax, VA 22030 Telephone No. ► (__ 703__) --------- 267-1000 FAX Na, lo- (_ 703___ 267-392 3 • If the organization does not have an office or place of business in the United States, check this box t ❑ • If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) . If this is for the whole group, check this box . . . . . . ► ❑ . If It Is for part of the group, check this box . . . . . . ► ❑ and attach a list with the names and EINs of all members the extension is for. 4 I request an additional 3-month extension of time until ______________November 16_--- ._________ 2019_, 6 For calendar year .2008., or other tax year beginning_________________________ , 20 . . . ., and ending ______ ._ ._ _ 120 . . . . . 6 if this tax year is for less than 12 months, check reason . ❑ Initial return D Final return ❑ Change in accounting period 7 State in detail why you need the extension --------------------------------------------------------------------------'----•-------------- 8a i f t his ap pli cation i s for Form 990 -BL, 990 - P F, 990 -T, 4720 , or 6069 , e nt er the tentative tax , b If this application is for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated tax payments made . Include any prior year overpayment allowed as a credit and any c Balance Due. Subtraot line 8b from line 8a. Include your payment with this form, or, If required, deposi t with FTD coupon or. If reauired. by usina EFTPS (Electronic Federal Tax Payment Svsteml . See instructions. 8c Signature and Veri f ication Under pena lties of perju ry , I declare t hat I have examined this form, Including accompanying schedules and statemen t s, and to the best of my knowledge and belief, It Is true, correct, and comyleje, and ]hat tW authorized to p repare this fo rm . Form 8868 may. 4-2009) Page 2 Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53 -0116130 MOWN- Statement of Program Se rv ice Accomplishments (see instructi ons ) I Briefly describe the organization's mission : TO PROTECT AND DEFEND THE U . S . CONSTITUTION . _ _ _______ ___ __ ___ _ ___________ __ _____ _______ _ ________ __ _ ___ ____ ___ ----- ---------------- - -------- - ------ - -- --- - - --- ---- -- Did the organizat ion undertake any significant program services during the year which were not l i sted o n the prior Form 990 or 990-EZ? . ~ Yes I __l X No If "Yes," describe these new services on Schedule O . Did the organization cease conducting , or make significant changes in how it conducts, any progra m services? . ❑ Yes X No If "Yes ;" describe these changes on Schedule O . Describe the exempt purpose achievements for each of the organization's three largest program services by expenses . Sect i on 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to repo rt the amount of grants and allocations to others, the total expenses, and revenue , if any, for each program service reported . 4a (Code : ,____ ____ _ ____ ) (Expenses $ , ___ 36 ,469 , 848 , including grants of $ , ___ ____ 72,000 ) (Revenue $ EDUCATIONAL , COMPETITIVE, COMMUNITY SERVICE AND TRAINING PROGRAMS_ NRA PROVIDES ______ __-_ _ -- --BROAD SPECTRUM OF HIGH QUALITY PROGRAMMING TO TRAIN,_INFORM AND INSPIRE THE MEMBERSHIP AND__ _ _____ GENERAL----------------------------------------------------PUBLIC OF S0+ MILLION GUNOWNERS WITH REGARD TO-THEIR-INALIENABLE-SECOND AMENDMENT RIGHTS ---------------------------------------------------------NRA CONTINUES TO BE THE PREMIER LEADER IN FIREARMS EDUCATION AND SAFETY . NRA OUTREACH --------------F-0IN THE HUNTING AND SHOOTING SPORTS ALSO INCLUDES YOUTH SCHOLARSHIPS TO BUILD AND -------------------FOSTERTHE NEXT GENERATIONS-IN AMERICA -. VISIT WWW _NRA _ORG AND WWW _NRABLOG . COM FOR MORE . ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- --- ----- ----- -------- ----- ----- - ---------- - ------- - ------- - -------- -- ------ -- ------ --- --- -------- - --------------------- -- ----- - - -- - - ------ ----- ----- ---- - - ------ - ------- - ---------- -- ------- - ------------ --- - -- - ----- ------------------------------------ - -- -- --- -- - - - - ----- - --- - ------ -- ------ - ------------------ - --------- - ---- ---- ---- -- - ab (Code: ___________^__ ) (Expenses $,___ 23,047,700, including grants of $,______240,000 ) (Revenue $ ,______________ 0 ) ----LEGISLATIVE PROGRAMS : AS THE FOREMOST PROTECTOR AND DEFENDER OF THE U,S, CONSTITUTION, NRA _ _ _ _ _ _ _ _ ADVOCATES AGAINST EFFORTS TO ERODE THE SECOND AMENDMENT,_FIGHTS FOR INITIATIVES AIMED AT ________ _ REDUCING VIOLENT CR{MEIAND PROMOTES HUNTERS' RIGHTS AND CONSERVATION EFFORTS NATIONWIDE_________ NRA LEGISLATIVE ACTION INVOLVES FIREARMS_RIGHTS_REGULATIONS AND STATISTICS,_RANGE PROTECTION______ INTERNATIONAL GUN CONTROL THREATS WORKERS' PROTECTION, SELF=DEFENSE,_FREE_SPEECH RIGHTS~_______ AND A HOST OF RELATED MATTERS . VISIT WWW .NRAILA .ORG FOR THE LATEST UPDATES . ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------4 c (Code : ,_____________ ) (Expenses 21,618 .300, including grants of$ . . . . . . . . . . . . . 0 ) (Revenue $ .___ ._20,365,841 ) NRA PUBLICATIONS : THE PRIMARY MISSION IS TO PROVIDE MEMBERS WITH MONTHLY MAGAZINES CONTAINING THE -------------------------------------------------------------------------------------------------------------------DFINE ESTAND AND HUNTING CONTENT AVAILABLE FROM _RECOGNIZE " ' MOST AUTHORITATIVE " _ FIREARMS ' L SHOOTING ' _ ' " .' "_'_ D ". LEA RS .ALL NRA MEDIA VEHICLE S SERVETOAND E DU C__A_T_ INFORM ON NRA'S LONG-TERM VISION . ------------------------------------------------------------------------------------------------------------------------FORACCESS TO --------NRA'S EXPANDED MEDIA AND- -OFFICIAL JOURNALS, VISIT WWW .NRAPUBLICATIONS .ORG . --- - -- -- -- --- -- -- ----PRESENCE - -- --- ---------------------------------------------------------- 4d Other program services . (Describe In Schedule 0 . ) (Expenses $ 76,226,338 including grants of $ 0))(Revenue $ 0) 4e Tot a l pr o gra m se rv ic e expenses ► $ 157,362,186 (Must equal Part IX, Line 25, column (B) .) Form 990 (2008) Fo r m 990 (2008) No Is the organization described in section 501 (c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes, " complete Schedule A . 1 2 2 Is the organization required to complete Schedule B, Schedule of Contributors? . 3 Did the organization engage in direct or Indirect political campaign activities on behalf of or in opposition t o candidates for public office? If "Yes," complete Schedule C, Part I . 3 4 Section 501 (c)(3) organizations. Did the organization engage in lobbying activities? If "Yes, " complete Schedule C, Part ll . 4 5 Section 501 (c)(4), 501 (c)(5), and 501 (c)(6) organizations . Is the organization subject to the section 6033(e) notic e and reporting requirement and proxy tax? If "Yes, " complete Schedule C, Part !ll . 5 6 Did the organization maintain any donor advised funds or any accounts where donors have the right t o provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part 1 . 6 7 Did the organization receive or hold a conservation easement, including easements to preserve open space , the environment, historic land areas, or historic structures? If "Yes,"complete Schedule D, Part ll . 7 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes, " complete Schedule D, Part ll! . 8 9 Did the organization report an amount in Part X, line 21 ; serve as a custodian for amounts not listed in Par t X ; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes, " complete Schedule D, Part IV . 9 10 Did the organization hold assets in term, permanent, or quasi-endowments? If "Yes, " complete Schedule D, Part V 10 11 Did the organization report an amount in Part X, lines 10, 12, 13, 15, or 25? If "Yes," complete Schedule D, Parts Vl, Vll, VI11, IX, or X as applicable . 11 12 Did the organization receive an audited financial statement for the year for which it is completing this retur n that was prepared in accordance with GAAP? If "Yes, " complete Schedule D, Parts Xl, X/l, and XI/I . 12 13 Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes, " complete Schedule E . 13 14a Did the organization maintain an office, employees, or agents outside of the U .S .? . 14a b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising , business, and program service activities outside the U .S .? If "Yes, " complete Schedule F, Part 1 , 14b 15 Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organizatio n or entity located outside the United States? If "Yes, " complete Schedule F, Part 1l . 15 16 Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistanc e to individuals located outside the United States? If "Yes, " complete Schedule F, Part ll! . 16 17 Did the organization report more than $15,000 on Part IX, column (A), line 11e? If "Yes, " complete Schedule G, Part 1 17 18 Did the organization report more than $15,000 total on Part VIII, lines 1c and 8a? If "Yes, " complete Schedule G, Part ll 18 19 Did the organization report more than $15,000 on Part VIII, line 9a? If "Yes," complete Schedule G, Part Ill . 19 20 Did the organization operate one or more hospitals? If "Yes, " complete Schedule H . 20 I 21 Did the organization report more than $5,000 on Part IX, column (A), line 1? If "Yes," complete Schedule 1, Parts f and fl . 22 Did the organization report more than $5,000 on Part IX, column (A), line 2? If "Yes,"complete Schedule 1, Parts !and 111 . 23 Did the organization answer "Yes" to Part VII, Section A, questions 3, 4, or 5? If "Yes," complet e Schedule J . 24a Did the organization have a tax-exempt bond issue with an outstanding principal amount of more tha n $100,000 as of the last day of the year, that was issued after December 31, 2002? If "Yes,"answer question s 24b-24d and complete Schedule K. If "No, " go to question 25 . b Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? . c Did the organization maintain an escrow account other than a refunding escrow at any time during the yea r to defease any tax-exempt bonds? . d Did the organization act as an "on behalf of issuer for bonds outstanding at any time during the year? . 25a Section 501 (c)(3) and 501 (c)(4) organizations . Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes, " complete Schedule L, Part I . b Did the organization become aware that it had engaged in an excess benefit transaction with a disqualifie d person from a prior year? If "Yes, " complete Schedule L, Part 1 . 26 Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, o r disqualified person outstanding as of the end of the organization's tax year? If "Yes, " complete Schedule L, Part ll . 27 Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, o r substantial contributor, or to a person related to such an individual? If "Yes, " complete Schedule L, Part Ill . X X X X X X X X X X X X X X X X X X X X 21 22 X X 23 X 24a 24b X X 24c 24d X X 25a X 25b X 26 X 27 X Form 990 (2008) Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 4 Checklist of Required Schedules (continued) Yes No 28 During the tax year, did any person who is a current or former officer, director, trustee, or key employee : a Have a direct business relationship with the organization (other than as an officer, director, trustee, o r employee), or an indirect business relationship through ownership of more than 35% in another entit y (individually or collectively with other person(s) listed in Part VII, Section A)? If "Yes," complete Schedule L, Part !V . b Have a family member who had a direct or indirect business relationship with the organization? If "Yes, " complete Schedule L, Part IV . c Serve as an officer, director, trustee, key employee, partner, or member of an entity (or a shareholder of a professional corporation) doing business with the organization? If "Yes, " complete Schedule L, Part IV . 29 Did the organization receive more than $25,000 in non-cash contributions? If "Yes, " complete Schedule M . 30 Did the organization receive contributions of art, historical treasures, or other similar assets, or qualifie d conservation contributions? If "Yes, " complete Schedule M . 31 Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes, " complete Schedule N, 32 Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part 11 . 33 Did the organization own 100% of an entity disregarded as separate from the organization under Regulation s sections 301 .7701-2 and 301 .7701-3? If "Yes, " complete Schedule R, Part I . 34 Was the organization related to any tax-exempt or taxable entity? If "Yes, " complete Schedule R, Parts ll, 1II, IV, and V, line 1 . 35 Is any related organization a controlled entity within the meaning of section 512(b)(13)? If "Yes, " complete Schedule R, Part V, line 2 . 36 Section 501(c)(3) organizations, Did the organization make any transfers to an exempt non-charitable relate d organization? If "Yes, " complete Schedule R, Part V, line 2 . 37 Did the organization conduct more than 5% of its activities through an entity that is not a related organizatio n and that is treated as a partnership for federal Income tax purposes? If "Yes, " complete Schedule R, Part Vl . 28a X 28b X 28c 29 X X 30 X 32 X 33 X 34 X 35 X 36 X 37 Form 990 (2008) Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA Statements Regarding Other IRS Filings and Tax Compliance EMPTS 53-0116130 Page 5 Yes la b c 2a b 3a b 4a b 5a b c 6a b 7 a b c d e f g h 8 9 Enter the number reported in Box 3 of Form 1096 , Annual Summary and Transmittal of U . S . Information Returns . Enter-0- if not applicable . 1a 61 6 0 Enter the number of Forms W-2G included in line 1 a . Enter -0- if not applicable , lb Did the organization comply with backup withholding rules for reportable payments to vendors and repo rt abl e gaming (gambling) winnings to prize winners? . Enter the number of employees repo rted on Form W-3 , Transmitt al of Wage and Ta x Statements, filed for the calendar year ending with or within the year covered by this return , 2a 77 8 If at least one is reported on line 2a, did the organization file all required federal employment tax returns? . Note. If the sum of lines I a and 2a is greater than 250, you may be required to e-file this return . (se e instructions ) Did the organization have unrelated business gross income of $1 , 000 or more during the year covered b y this return? . If "Yes," has it filed a Form 990-T for this year? If "No, " provide an explanation in Schedule 0 . At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign count ry (such as a bank account, securi ties account, or other financia l account)? . If "Yes," enter the name of the foreign count ry : ► . . . . . . . . . . . . -- --- ------------ - --------- - - - ----------- - - See the instructions for exceptions and filing requirements for Form TD F 90-22 . 1 , Report of Foreign Ban k and Financial Accounts . Was the organization a party to a prohibited tax shelter transaction at any t ime during the tax year? . Did any taxable pa rty notify the organization that it was or is a party to a prohibited tax shelter transaction? . If "Yes , " to question 5a or 5b, did the organization file Form 8886-T, Disclosure by Tax-Exempt Entit y Regarding Prohibited Tax Shelter Transaction? . Did the organization solicit any contributions that were not tax deductible? . If "Yes ," did the organization include with eve ry solicitati on an express statement that such contributions o r gifts were not tax deductible? . Organizations that may receive deductible contributions under section 170(c) . Did the organization provide goods or services in exchange for any quid pro quo contribution of more tha n $75? . If "Yes ," did the organization notify the donor of the value of the goods or services provided? . Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it wa s required to file Form 82827 . If "Yes , " indicate the number of Forms 8282 filed during the year . 7d Did the organization, during the year , receive any funds, directly or indirectly, to pay prem i ums on a persona l benefit contract? . Did the organization , during the year, pay premiums , directly or indirectly, on a personal benefit contract? . For all contributions of qualified intellectual prope rty , did the organization file Form 8899 as required? . For contributions of cars, boats, airplanes , and other vehicles , did the organization file a Form 1098-C as required? . Section 501(c)(3) and other sponsoring organizations maintaining donor advised funds and sectio n 509(a)(3) supporting organizations . Did the supporting organization, or a fund maintained by a sponsorin g organization, have excess business holdings at any time during the year? . Section 501(c)(3) and other sponsoring organizations maintaining donor advised funds , 1c X 2b X 3a 3b X X 4a X 5a 5b X X 5c 6a X 6b X 7a 7b 7c 7e 7f 7 7h 8 a Did the organization make any taxable distributions under section 4966? . 9a b Did the organ i zation make a distribution to a donor , donor advisor , or related person? . Section 501(c)(7) organizations . Enter : Initiation fees and capital cont ri butions included on Part VIII, line 12 . 10 a Gross receipts, included on Form 990, Part Vlll , line 12 , for public use of club facilities . 10 b Section 501(c)(12) organizations . Enter : Gross income from members or shareholders . 11 a G ro ss Income from other sources (Do not net amounts due or paid to other source s against amounts due or received from them .) . 11 b Section 4947(a)(1) non-exempt charitable trusts . Is the organization filing Form 990 in lieu of Form 1041? . if "Yes , " enter the amount of tax-exempt interest received or accrued during the vear . I 12b I 9b 10 a b 11 a b 12a b No 12a 1 I Form 990 (200e) Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 6 IBM Governance, Management, and Disclosure (Sections A, B, and C request information about policies not required by the Internal Revenue Code . ) Section A. Governing Body and Management Yes For each "Yes" response to lines 2-7b below, and for a "No" response to lines 8 or 9b below, describe th e circumstances, processes, or changes In Schedule O. See instructions . 1a Enter the number of voting members of the governing body , 1a 7 6 70 b Enter the number of voting members that are independent . lb 2 Did any officer, director, trustee, or key employee have a family re l ationship or a business relationship wit h any other officer, di rector, trustee , or key employee? . 3 Did the organization delegate control over management duti es customarily pe rformed by or under the direc t superv i sion of officers, directors or trustees , or key employees to a management company or other person? . 4 Did the organization make any significant changes to its organizat ional documents si nce the prior Form 990 was filed? . 5 Did the organization become aware during the year of a material divers i on of the organization's assets? . 6 Does the organization have members or stockholders? . 7a Does the organization have members , stockholders, or other persons who may elect one or more member s of the governing body? . b Are any decisions of the governing body subject to approval by members, stockholders , or other persons? . 8 Did the organization contemporaneously document the meet i ngs held or written actions undertaken during the year by the following : a The governing body? . b Each committee with authority to act on behalf of the governing body? . 9a Does the organization have local chapters , branches , or affiliates? . b If "Yes , " does the organization have written policies and procedures governing the activities of such chapters , affiliates, and branches to ensure their operations are consistent with those of the organization? . 10 Was a copy of the Form 990 provided to the organization's governing body before it was filed? All organization s must describe in Schedule 0 the process, if any, the organization uses to review the Form 990 . 11 Is there any officer, director or trustee , or key employee listed in Part VII, Section A, who cannot be reached at the organization's mailing address? If "Yes," provide the names and addresses in Schedule 0 . No 2 X 3 X 4 X 5 6 X X 7a 7b X X 8a 8b 9a X X X 9b 10 X X 11 Section B . Policies Ye s 12a Does the organization have a written conflict of interest policy? If "No," go to line 13 . b Are officers, directors or trustees, and key employees required to disclose annually interests that could giv e rise to conflicts? . c Does the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes, " describe in Schedule 0 how this is done . 13 Does the organization have a written whistleblower policy? . 14 Does the organization have a written document retention and destruction policy? . 15 Did the process for determining compensation of the following persons include a review and approval b y independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision : a The organization's CEO, Executive Director, or top management official? . b Other officers or key employees of the organization? . Describe the process in Schedule O . (see instructions) . 16a Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangemen t with a taxable entity during the year? . b If "Yes," has the organization adopted a written policy or procedure requiring the organization to evaluat e its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization's exempt status with respect to such arrangements? . 12a X 12b X 12c 13 14 X X X 15a 15b X X 16a No X 16b Section C . D isclosure 17 List the states with which a copy of this Form 990 is required to be filed ► .AL, CA, DC, KY, NY, OK, PA, UT, VA _ _ _ . . . . . . . . . . . . ------------------------- 18 Section 6104 requires an organization to make its Forms 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only ) available for public inspection . Indicate how you make these available . Check all that apply . Own website ❑ Another's website X Upon reques t 19 Describe in Schedule 0 whether (and if so, how), the organization makes its governing documents, conflict of interes t policy, and financial statements available to the public . 20 State the name, physical address, and telephone number of the person who possesses the books and records of th e organization : ► _________NATIONALRIFLEASSOCIATIONOFAMERICA________________________703-267 .1000_____________ _ 11250 WAPLES MILL ROAD, FAIRFAX . VA 22030-7400 Form 990 (200e) Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 7 JUEUM Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensate d Employees, and Independent Contractors Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this table for all persons required to be listed . Use Schedule J-2 if additional space is needed . • List all of the organization's current officers, directors , trustees (whether individuals or organizations), regardless of amount of compensation , and current key employees . Enter -0- in columns (D) , (E), and (F) if no compensation was paid . • List the organization's five current highest compensated employees (other than an officer, director, trustee, or key employee) who received report able compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the organization and any related organizations . • List all of the organizat ion's former officers, key employees , and highest compensated employees who received more than $100,000 of repo rt able compensation from the organization and any related organizations . . List all of the organization's former directors or trustees that received, in the capacity as a former director or trustee of the organization , more than $10,000 of reportable compensation from the organization and any related organizations . List persons in the following order: individual trustees or directors ; Institutional trustees ; offi cers ; key employees ; h i ghest compensated employees ; and former such persons . Check this box if the organization did not compensate any officer, d i rector , trustee , or key employee . (A) Name and Title (B) (C) (D) (E) (F) Average hours pe r week Position (check all that apply) 02. 5 , ~ x m x ~+ a y ~ 9S ° a ~ M I 0 Repo rt able compensatio n fro m the organization (W-2/1099-MISC) Reportable compensation from re la ted organizations (W-21 1099-MISC) Estimated amount of o t her compensation from th e organizatio n and related organ ization s q d ~ v3 2 a J-OHN C . SIGLE R - ----- --- -- - ------------------- - - - -------- PRESIDENT RONALD L:SCHMEITS -- - ----- -- - --- ---------- 1ST VICE PRES DAVID KEENE - -------- - ---- - ------ -- -- --- --- - 2NDVICE PRES 20 . X X 0 0 0 20 . X X 0 0 0 20 . X X 0 0 0 1. X 122,000 0 0 1. X 41,415 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 I. X 0 0 0 1. X 0 0 0 DIRECTOR M . CAROL BAMBERRY -------------- ----- - ---- --- --- - --- ----- -- - --- DIRECTOR BOB BAR R ---- - - - ------- --- ------- - -- - - - ---------- -- -- -- - DIRECTOR CLEL BAUDLER- - ----------- - -- - ------ - --- - - DIRECTOR -BAUE L L -- -- R -- --- -- - --- ----------- --- -------- - -BI ---DIREC70R DAVID E .BENNETT,_III ---------- - 1. X 0 0 0 1, X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 -61-R- I. X 0 0 0 BLACKWEL L -J-. --KENNETH ----- -- ---- ------------------------------DIRECTOR 1. X 0 0 0 Form 990 (2008) MARION P . HAMME R DIRECTOR SANDRA FROMAN _ _ _ _ _ ---------- -- ---------- - DlRECTOR JO E M :ALLBAUGH ---------- - --------- - ------- DIRECTOR WILLIAM H . ALLE N --- -- -- --- - --- - ----- - - - ------- - --------- DIRECTOR THOMAS P: ARVAS --------------------------- DIRECTOR SCOTT L . BAC H - ------------------- --------- - - -- -------- - - - -- DIRECTOR WILLIAM A . BACHENBER ------ - --------- ------- G -- ---------- -- ---- -- - DIRECTOR F _E ._BACHHUBER L JR .- - -- -- ----- -- ---- - ------ - Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 8 Ca e4inn A Clffic ara 1 'lirartnrs Trn s4oae Ka v Fmnlnvaas and H i nhac4 C mm n ra neafarl Fmnlnvwwc (cnntinuad) (A) Name and title (B) (C) (D) (E) (F ) Average hours per week Position (check all that apply) o5 , o ~ m 2; -n ° El w a ~8 ~ g 3 Reportable compensation from the organization (NI-2/1099-MISC) Reportable compensation from related organizations (W-2/1099-MISC) Estimate d amount o f other compensatio n from the organization and relate d organization s -DAVID BOEH M ---- O--. -------------------------------DIRECTOR DAN BOREN-------------------------------- DIRECTOR -BILL K .-BREWSTE R ---- - ----- -- ------------------------- DIRECTOR ROBERT K_ BROWN------------------------- DIRECTOR JOHN P_ BURTT----------------------------- DIRECTOR DAVID BLITZ-------------------------------- DIRECTOR J . WILLIAM CARTE R -----------------------------------=-------D I RECTOR 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1, X 0 0 0 1. X 0 0 0 1. X 150,000 0 0 1. X 0 0 0 -PATRICIA A . CLAR K - ------- -- - - ------------------------- 0 0 DIRECTOR 1. X ALLAN D_ CORS----------------------------- 1. X 0 0 DIRECTOR -CHARLES-L . COTTO N - -- ---- - - --- ----------------------- DiRECTOR 1. X 0 0 DAVID G . COY ------------------------------ 0 0 DIRECTOR 1. X -LARRY E-.-CRAI G - -- - - ------------------------------1. X 0 0 DIRECTOR BARBARA L . CUBIN_________________________ _ DIRECTOR 1. X 0 0 . ► 5,769,331 0 1 b Total . 2 Total number of individuals (including those in 1 a) who received more than $100,000 In reportable compensation from the orga nization ► 52 0 0 0 0 0 0 718,35 5 Yes No 3 Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line I a? If "Yes," complete Schedule J for such individual . 3 x 4 For any individual listed on line 1 a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual . 4 X 5 Did any person listed on line I a receive or accrue compensation from any unrelated organization for services rendered to the organization? If "Yes," complete Schedule J for such person . Section B . I ndependent Contractors 5 x 1 Complete this table for your five highest compensated independent contractors that received more than $100,000 of romna n sation from the oraanization_ (A) Name and business address (e) Description of services INFOCISION 325 SPRINGSIDE DR AKRON OH 44333 PAID SOLICITOR PM CONSULTING 12100 WILSHIRE BLVD LOS ANGELES CA 9 ( CONSULTING POSTMASTER 1735 N LYNN ST ARLINGTON VA 22209 POSTAGE SHIPPING PALM COAST DATA 11 COMMERCE BLVD PALM COAST FL 3216 MEMBERSHIP PROCESSIN GOULD PAPER 11 MADISON AVE NEW YORK NY 10010 PAPER PRODUCTS 2 Total number of independent contractors (including those in 1) who received more than $100,000 i n compensation from the organization 0- 33 (C ) Compensatio n 9,396,04 4 7,715,03 3 7,271,37 2 7,171,51 7 6,989,11 9 Form 990 (2008) Form 990 (2008) NATIONAL R IFLE ASSOCIATIO N OF AMERICA 53-0116130 Pane 9 Statement of Revenue (A) Total revenue .49 J! o E 1a Federated campaigns . b Membership dues . c Fundraising events . d Related organizations . ,E w 0 W :5 c v vo 1a 0 1b 145,034,392 1c 0 Id 9,336,484 e Government grants (contributions) . 1e 0 f All other contributions, gifts, grants , an d similar amounts not included above . If 50,655,26 2 g Noncash contributions included in lines 1a-1f : $ 176 , 88 3 h Total . Add lines 1a-1f ► d Io ) (C) Unrelated business revenue Revenu e excluded from tax under section s 512, 513, or 51 4 05 026,13 8 Business Cod e 2a PROGRAM FEES b 5,288,336 5,288,336 0 0 0 0 c -- -- -------- -- ----------------- - - - - - - -------- • d • ----- - --- --------- - ------------- ---- --------- • e ------------------------------ - - - ------------ • a (B) Related or exempt function revenue f All other program service revenue . Total . Add lines 2a-2f . 3 Investment i ncome (includ i ng d i vidends, interest , an d other similar amounts) . 4 Income from investment of tax-exempt bond proceeds . 5 Royalties . (i) Real 6a Gross Rents . 0 ► 5,288,33 6 ► ► ► 901,454 901,45 4 0 10,524 , 318 10,524 31 8 -58,634 -58,6 34 -4,295 .050 -10,150,258 519,375 519,375 (ii) Persona l 1 712 07 5 b Less : rental expenses . c Rental income or (loss) . d Net rental income or (loss) . 7a Gross amount from sales of assets other than invento ry . b Less : cost or other basi s and sales expenses . c Gain or (loss) . 1,770,70 9 0 -58,634 t (I) Securities (11) Othe r 69,651,680 0 73,946,730 0 0 -4,295,050, d Net gain or (loss) . ► 8a Gross income from fundraisin g events (not including $ . . . . .. ... . . . . . . 0 of contri butions repo rted on line 1 c) . W See Part IV, line 18 . a 606 , 260 d b Less : direct expenses . b 86,88 5 p c Net income or (loss) from fundraising events , 9a Gross income from gaming activities . See Pa rt IV, line 19 . b Less : direct expenses . c Net income or (loss) from gaming activities . 10a Gross sa les of invento ry , les s returns and allowan ce s . b Less : cost of goods sold . c Net income or loss from sales of inventory Miscellaneous Revenue ► a b 0 0 ► a b 12,886,752 4,403,84 1 ► p 8,482,911 541800 541800 20,365,841 c NRA CAFE SALES __ ____ _________ __ __ _ -722210 d All other revenue . e Total . Add lines 11a-11d . 12 Total Revenue. Add lines 1h , 2g, 3, 4, 5, 6d , 7d, 8c , 9c, 10c and 11 e . 392,006 11a ADVERTISIN G b SUBSCRIPTIONS - ---- ------------------------------ 7,517,760 965,15 1 Business Cod e 830,087 0 .► 21,587,934 ► 247,976,7821 20 365,84 1 830,087 0 0 13,636,183 21,330,992 392 , 00 6 0 2,128,26 1 Form 990 (200e) Form 990 (2008) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 10 WOMW.4 Statement of Functional Expenses Section 501(c)(3) and 501(c)(4) organizations must complete all columns . All other organizations must complete column (A) but are not reauired to complete columns (B), (C), and (D) . Do n ot include amounts reporte d on lines 6b, 7b, 8b, 9b, and 10b of Part I. I Grants and other assistance to governments an d organizations in the U .S . See Part IV, line 21 . 2 Grants and other assistance to individuals i n the U .S . See Part IV, line 22 . 3 Grants and other assistance to governments , organizations, and individuals outside th e V .S . See Part IV, lines 15 and 16 . 4 Benefits paid to or for members . 5 Compensation of current officers, directors , trustees, and key employees . 6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) an d persons described in section 4958(c)(3)(B) . 7 Other salaries and wages . 8 Pension plan contributions (include section 401(k ) and section 403(b) employer contributions) . 9 Other employee benefits . 10 Payroll taxes . 11 Fees for services (non-employees) : a Management . b Legal . c Accounting . d Lobbying . e Professional fundraising services, See Part IV, line 17 f Investment management fees . g Other . 12 Advertising and promotion . 13 Office expenses . 14 Information technology , 15 Royalties . 16 Occupancy . 17 Travel . 18 Payments of travel or entertainment expense s for any federal, state, or local public officials . 1 9 Conferences, conventions, and meetings . 20 Interest . 21 Payments to affiliates . 22 Depreciation, depletion, and amortization . 23 Insurance . 24 Other expenses . Itemize expenses no t covered above. (Expenses grouped togethe r and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below . ) a MEMBER COMMUNICATIONS____________________ b PRINTING-AND-SHIPPING _______________________, c FASB 158 d PROGRAM SERVICES _________________ , ---------e FULF4LLMENT MATERIAL f All other expenses _____________________________, 25 Tota l functional expenses. Add lines 1 through 24f 26 Join t Costs . Check here ► ❑ if followin g SOP 98-2 . Complete this line only if the organizatio n reported in column (B) Joint costs, from a combine d educational campaign and fundraisin g solicitation . . (A) Total expenses (c) Management and general expenses (B ) Program service expenses 261,000 261,00 0 51,000 51,00 0 (o ) Fundraisin g expenses d 0 3,169,172 11336,455 1 594,469 238 24 8 0 30,629,068 20,315,035 71826,381 2,487 65 2 3,958,793 4,095,664 2,416,761 21225,723 2,492,425 1,470,725 1 447 763 1,308,068 771,862 285,30 7 295,17 1 174,17 4 21163,797 408,05 5 235,250 0 2,571,852 235,250 0 5,165,667 249,543 5,662,168 20,525,974 3,792,651 4,685 580 0 1,845,896 5,456,896 0 5,098,606 1,344,493 5,165,66 7 249,54 3 5,662,16 8 13,212,811 2,056,819 2,953,321 1,735,83 2 1,732 25 9 939,566 4,029,090 906,33 0 1,427,80 6 4,034,190 968,086 1 064 41 6 376,40 7 7313,16 3 0 0 0 0 2,164,885 887,524 1,607,692 887 .52 4 557,193 0 43,840,283 20,635,118 20,139,172 14,706,971 5,190,167 9,273,080 218 053,234 33,391,622 20,635,11 8 11,629,762 14 706 97 1 4,373,748 5,957,538 157,362,186 10,448,66 1 8,609,41 0 100,702 1,328,715 31,580,461 715,71 7 1986827 29 :110,58 7 Form 990 (2008) Form 990 (2008) NATION AL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 1 1 B a l ance Sh eet NUM M . (A) Beginning of year J8 Q 1 Cash-non-interest-bearing . 2 Savings and temporary cash investments , 3 Pledges and grants receivable, net . 4 Accounts receivable, net . 5 Receivables from current and former officers, directors, trustees, key employees, or other related parties . Complete Part II of Schedule L . 6 Receivables from other disqualified persons (as defined under sectio n 4958(f)(1)) and persons described in section 4958(c)(3)(B) . Complete Part II of Schedule L . 7 Notes and loans receivable, net . 8 Inventories for sale or use . 9 Prepaid expenses and deferred charges . -~ 10a Land, buildings, and equipment : cost basis 10a 61,392,10 8 b Less : accumulated depreciation . Complet e Part VI of Schedule D . 10b 25,456,081 11 Investments-publicly traded securities . 12 Investments-other securities . See Part IV, line 11 . 13 Investments-program-related . See Part IV, line 11 . 14 Intangible assets , 15 Other assets . See Part IV, line 11 . 16 Total assets . Add lines 1 through 15 must equal line 34 17 Accounts payable and accrued expenses . 18 Grants payable . 19 Deferred revenue . 20 Tax-exempt bond liabilities . 21 Escrow account liability . Complete Part IV of Schedule D . 22 Payables to current and former officers, directors, trustees, ke y employees, highest compensated employees, and disqualifie d persons . Complete Part II of Schedule L . 23 Secured mortgages and notes payable to unrelated third parties . 24 Unsecured notes and loans payable . 25 Other liabilities. Complete Part X of Schedule D , 26 Total liabilities. Add lines 17 through 25 . Organizations that follow SFAS 117, check here ► QX an d complete lines 27 through 29, and lines 33 and 34 . 27 Unrestricted net assets . 28 Temporarily restricted net assets . 29 Permanently restricted net assets . Z 42174 268 1 2 3 4 13,190,64 7 1,498,46 8 41,936,78 5 0 5 0 0 6 7 8 11 567,946 1,089,963 3,215,112 6,903,968 2,113,892 0 3,165,69 5 8,976,85 1 1,610,64 3 9 35 892,178 10c 33,433,411 11 1,060,396 12 0 13 14 4,690,388 15 142,141,522 16 34,743,077 17 0 18 61,609,730 19 0 20 21 35,936,02 7 18 647,53 0 2 1223,09 3 7 0 4,256,87 6 131,342,61 9 54,266,71 8 0 18,143 25 4 0 0 22 33,519 558 23 0 24 4,594,355 25 134,466 720 26 -17,968,654 5,734,780 19,908,676 0 26 166,156 0 8,897,78 1 107,4 73,90 9 27 28 29 20,922,278 30 31 32 33 34 23,868,71 0 131,342,61 9 1,788,11 1 1,158,32 1 Organizations that do not follow SFAS 117, check here ► and complete lines 30 through 34. o d (B) End of yea r 30 Capital stock or trust principal, or current funds . 31 Paid-in or capital surplus, or land, building, or equipment fund . 32 Retained earnings, endowment, accumulated income, or other funds . 33 Total net assets or fund balances . 34 Total liabilities and net assets/fund balances . OMM Financial Statements and 7,674,802 142141 522 Reporting Yes 1 Accounting method used to prepare the Form 990 : ❑ Cash QX Accrual E] Othe r 2a Were the organization's financial statements compiled or reviewed by an independent accountant? . b Were the organization's financial statements audited by an independent accountant? . c If "Yes" to lines 2a or 2b, does the organization have a committee that assumes responsibility for oversight of th e audit, review, or compilation of its financial statements and selection of an independent accountant? . 3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth i n the Single Audit Act and OMB Circular A-133? . b If "Yes," did the organization undergo the required audit or audits? . 2a 2b X 2c X No X 3a 3b Form 990 (200e) SCHEDULE J-2 (Form 990) Department of the Treasu ry I OMB No . 1545- 0047 Continuation Sheet for Form 99 0 2 00 8 Att ach to Form 990 to list add iti onal informa tion fo r Form 990 , Pa rt VII , Se ction A, line Ia . I Internal Revenue Se rvice Emp loye r Identification number Name of the Organi za tion NATIONAL RIFLE ASSOCIATION OF AMERICA 5 j-u 1101 Su JUM Continuation of Officers, Directors, Trustees, Key Employees, and Highest Compensated F mnlovee ----(A s ) Name and Title (B) (c ) Position (check all that apply) o Q g o m x r 0 ER Average hours per week a 3n, o 8 3 (D) (E) (F ) Reportable compensation Reportable compensatio n Estimated amount o f fro m from related othe r th e organization (W-2/1098-MISC) organizations (W-2/1099-MISC) compensatio n from th e organizatio n and related organization s a JOHN L. CUSHMAN -------------------- DIRECTOR WILLIAM H, DAILEY___________________ _ DIRECTOR JAMES W . DAR K DIRECTOR _ DONN C .DIBIASIO____________________ _ DIRECTOR MANUEL FERNANDEZ ----------------- DIRECTOR P . FLEEMA N -EDIE - --- -- - - -- ------------------------ DIRECTOR JOEL FRIEDMAN______________________ _ DIRECTOR TOM GAINES -------------------------- DIRECTOR JAMES S . GILMORE III------------------ DIRECTOR LEO A . HOLT --- - - - -- --------------------------- DIRECTOR STEVE_HORNADY---------------------- DIRECTOR SUSAN- HOWAR D - -- - ------------------------ -- DIRECTOR S -ROY INNI --------------------------------DIRECTOR N H . JOAQUIN JACKSO-------------------------------DIRECTOR CURTIS . JENKINS - ----- S - - - ------------------------ DIRECTOR D . CYNTHIA JULIEN___________________ _ DIRECTOR TOM-KING ----------------------------- DIRECTOR HERBERT A. LANFORD JR . --------------------------------------DIRECTOR KARL A . MALONE --------------------- DIRECTOR CAROLYN D .-MEADOWS ______________ _ DIRECTOR JOHN F . MILIU S DIRECTOR 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1, x 25,500 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 For Privacy Act and Paperwork Reduction Act Notice , see the Instructions for Form 990 . Schedule J-2 (Form 990) 2008 SCHEDULE J-2 ( Form 990) I Department of the Treasury I OMB No. 1545-004 7 Continuation Sheet for Form 99 0 ► 2008 Attach to Form 990 to list additi o nal i n formation fo r Form 990 , Part VI I, Se c tion A, line 1a . Name of the Organization Employer Identification number 53-0116130 NATIONAL RIFLE ASSOCIATION OF AMERICA JUM Continuation of Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (A) (B) Name and Title Average hours per week (C) Position (check all that apply) o o o o~ BILL MILLE R --------------------------------------- DIRECTOR CLETA MITCHEL L ------------------------------------- DIRECTOR GROVER G ._NORQUIST_______________ _ DIRECTOR OLIVER L_NORT H DIRECTOR JOHNNY NUGEN T -------------------------------------- DIRECTOR TED NUGEN T --------------------------- DIRECTOR LANCE OLSE N -------------------------------------DIRECTOR TIMOTHY L ----- --W-.-PAWO - -- -----------------DIRECTOR JAMES-W.- PORTER II ------------------ DIRECTOR PETER J. PRINTZ ---------------- DIRECTOR TODD-J . RATHNE R -------------------------------------DIRECTOR 8 M ( D) (E) (F) Reportable compensation fro m the organization (N!-2/1099-MISC) Reportable compensation from relate d organizations (W-2/1099-MISC) Estimated amount of othe r com pensation from th e organizatio n and relate d organization s 1. X 0 0 0 1. X 0 0 0 1, X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 40 .000 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 12,000 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1, x 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 WAYNEANTHONYROSS--------------- DIRECTOR CARL T . ROWAN J R DIRECTOR -DON - -- -SABA ------------------------------- DIRECTOR -ROBERT-E . SANDERS----- ------------ DIRECTOR -HAROLD R - -- -W ----- .-SCHROEDE -- - --- ------------DIRECTOR TOM SELLEC K DIRECTOR JIM SUPICA--------------------------- DIRECTOR -DWIGHT-D . VAN HORN________________ _ DIRECTOR ROBERT L, VIDEN_JR ._________________ _ DIRECTOR HAROLD L . VOLKME R DIRECTOR For Pr ivacy Act and Paperwork Reduction Act Notice , see the Instruct i ons for Form 990 . Schedule J -2 (Form 9e0) 2008 SCHEDULE J-2 (Form 990) Department of the Treasury Internal Revenue Service I OMB No. 1545 -004 7 Continuation Sheet for Form 99 0 248 I 10- Attach to Form 980 to list additional information for Form 990 , Pa rt VII , Section A, line 1a. Name of the Organization Employer Identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-01161 30 Continuation of Officers, Directors, Trustees, Key Employees, and Highest Compensated Employee s (A) Name and Title (B) (C) (D) (E) (F ) Average hours per week Position (check all that apply) A MX o na N Reportable compensation from the organization (W-2/1099-MISC) Reportable compensation from related organizations (W-2/1099-MISC) Estimate d amount o f other compensation from th e organizatio n and related organization s o~ ID ~ 0 m M ,8 3 M .-WALTER -HOWARD - - --- -J - -- ---------------------DIRECTOR S J .D .-WILLIAM ------------------------------------ DIRECTOR -DENNIS-L . WILLIN G - -- -- - - - ----------------------- DIRECTOR -DONALD-E . YOUN - -- --- --- - G------------------- DIRECTOR WAYNE LAPIERR E ---- ---- ----------------------------- EXEC VP CHRIS W . CO X -- ---- ---- -------------------------- EXEC DIR ILA WILSON H . -PHILLIPS - JR ------------------------------------ . TREASURER KAYNE B . ROBINSON_ _ EXEC IR GENERAL OPERATIONS EDWARD J . LAND JR . SECRETARY BEN CASE ______________ _ EXEC DIRECTOR, ADVANCEMENT MARY CORRIGAN ----------------------- CHIEF OF STAFF JOSEPH GRAHAM --- -- - - - ---------------------- DIRECTORPUBLICATIONS -MICHAEL N -------MARCELLI - -- - -- ----------------MANAGING DIRECTOR RANDY KOZUCH ---------------------- DIRECTOR, ILA STATE AND LOCAL JAMES-JAY-BAKE R --------- - -----------------------FORMER OFFICER ---------------------------------------- 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 1. X 0 0 0 40 . X 1,139,568 0 123 53 3 40 . X 583,664 0 77,39 5 40 . X 536,247 0 113,21 6 40 . X 442,607 0 160,00 1 40 . X 467,086 0 42,100 40 . X 594,580 0 43,01 4 40 . X 390,195 0 26,48 7 40 . X 385,138 0 56,44 6 40 . X 330,821 0 59 143 40 . X 268,510 0 17 02 0 240,000 0 0 0. 0 0 0 0. 0 0 0 0. 0 0 0 0 0 0 0. 0 0 0 0. 0 0 0 1. X ------------------------------------------------------------------------------ -------------------------------------------------------------------------------- For Privacy Act and Paperwork Reduction Act Notice . see the Instructions for Form 990 . Schedule J-2 (Form 9901 2008 SCHEDULED (Form 990) Depa rtment of the Treasu ry Internal Revenue Service OMB No . 1545-0047 00 8 Supplemental Financial Statements 10, Att ach to Form 990 . To be completed by organizations that answered "Yes," to Form 990, Part IV, line 6, 7, S, 9, 10, 11, or 12 . Name of the organization •~' • Employer Identification numbe r NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts . Complete i f Donor a dvised funds Funds and other a ccou nts Total number at end of year . Aggregate contributions to (during year) Aggregate grants from (during year) . Aggregate value at end of year . Did the organization inform all donors and donor advisors in writing that the assets held in donor advise d funds are the organization's property , subject to the organization ' s exclusive legal control? . Did the organization inform all grantees, donors , and donor advisors in writing that grant funds may b e used only for charitable purposes and not for the benefit of the donor or donor advisor or othe r impermissible private benefit? . ❑ Yes ~ No ❑ Yes ~ No Conse rv ation Easements . Comp l ete if the organization answered "Yes" to Form 990, Part IV, line 7 . 1 Purpose(s) of conservation easements held by the organ i zation (check all that apply). ❑ Preservation of l and for public use (e .g ., recreation or pleasure) ❑ Preservation of an historical l y important land area ❑ Protection of natural habitat 2 ❑ Preservation of certified historic structur e ❑ Preservation of open spac e Complete lines 2a-2d If the organization held a qualified conservation contribution In the form of a conservation easement on the last day of the tax year . He l d at the End of the Year a Total number of conservation easements . 2a b Total acreage restricted by conservation easements . 2b c Number of conservation easements on a ce rtified historic structure included in (a) . 2c 2d d Number of conservation easements included in (c) acquired after 8/17/06 . 3 Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the taxable year 0' -- --------4 Number of states where prope rty subject to conservation easement is located ► 5 Does the organization have a wri tten policy regarding the periodic mon i toring , inspection, violations, an d enforcement of the conservation easements it holds? . ❑ Yes ❑ No 6 Staff or volunteer hours devoted to monito r ing , inspecting, and enforcing easements during the year 10 - --- --------- 7 Amount of expenses incurred in mon itoring , inspecting , and enforcing easements during the year ► $.. . .. . . . . . . . . . . 8 Does each conservation easement repo rted on line 2(d) above satisfy the requirements of sectio n 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? . ❑ Yes ❑ No 9 In Part XIV , describe how the organization repo rts conservation easements i n its revenue and expense statement , and balance sheet, and include, if applicable, the text of the footnote to the organization's financial statements that describe s the organization's accounting for conservation easements . Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets . Complete if the organization answered "Yes" to Form 990, Pa rt IV, l i ne S . la If the organization elected, as permitted under SFAS 116 , not to report in its revenue statement and balance sheet works of art, histori cal treasures, or other similar assets held for publ ic exh ibit ion, education, or research in furtherance of publ i c service , provide, in Pa rt XIV, the text of the footnote to its financial statements that describes these items . b If the organization elected, as permitted under SFAS 116 , to report in its revenue statement and balance sheet works of a rt, historical treasures, or other similar assets held for publ i c exhibition , education, or research in furtherance of public service, provide the following amounts relating to these items : (i) Revenues included in Form 990, Pa rt VIII , line 1 . ► $ (ii) Assets included in Form 990 , Part X . . ► $ 2 If the organization received or held works of a rt, historical treasures, or other similar assets for financial gain , provide the following amounts required to be repo rted under SFAS 116 relating to these items : a Revenues included i n Form 990 , Pa rt VIII , line 1 . ► $ b Assets included in Form 990, Part X . ► For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990 . Schedule D (Form 990) 2008 (HTA) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 Page 2 Schedule 0 (Form 990) 2008 Organizations Maintaining Collections of Art , Historical Treasures, or Other Similar Assets (continued) 3 Using the organization's accession and other records, check any of the following that are a significant use of its collection items (check all that apply) : a X Public exhibition d ❑ Loan or exchange programs b X Scholarly research e ❑ Other - ---- -- ---- --- - - - - -- ---- ------ ----- - -- ------ - c X Preservation for future generation s 4 Provide a description of the organization's collections and expla i n how they fu rt her the organization's exempt purpose in Pa rt XIV. 5 During the year, did the organization solicit or receive donations of art , historical treasures, or other simila r assets to be sold to raise funds rather than to be maintained as pa rt of the organization's collection? . Yes X No Trust, Escrow and Custod i al Arrangements . Complete if o rganizat i on answered "Yes" to Form 990 , Part IV , l ine 9 , or reported an amount on Fo rm 990 , Part X , line 21 . 1a Is the organ i zation an agent, trustee , custodian or other intermedia ry for contributions or other assets no t included on Form 990, Part X? . El Yes M No b If "Yes," explain the arrangement in Pa rt XIV and complete the following table : Amount c Beginning balance . 1c d Additions during the year . 1d e Distributi ons during the year . 1e f Ending balance . If 0 2a Did the organization include an amount on Form 990 , Pa rt X , line 21? , b If "Yes," explain the arrangement in Part XIV . ~ Yes FX No Endowment Funds. Com lete if o r a n izati on answe red "Yes " to Form 990, Part IV l ine 1 0 (a) Curren t year (b) Prior year (c) Two ye ars back ( d) Three years back (e) Four years back la Beginning of year balance . 7,675,31 6 b Contributions . 487,022 c Investment earnings or losses , -1,205,479 d Grants or scholarships . e Other expenditures for facilitie s and programs . . f Admin i strative expenses . 36 243 g End of year balance . 6,920,616 1 2 Provide the estimated percentage of the year end balance held as : a Board designated or quasi-endowment ► ,_____________ % b Permanent endowment ► ---------- 100%_ -c t -Termndow 3a Are there endowment funds not in the possession of the organization that are held and adm inistered for the organization by: Yes (I) unrelated organizations . 3a (ii) related organizations . No i X 10D X b If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? . 3b 4 Describe in Part XIV the intended uses of the organization's endowment funds . OWN-Investments-Land . Buildings. and Eauinment . See Form 990 . Part X . lin e 10 . Description of Investment (a) Cost or other basis (investment) (b) Cost or othe r basis (other) 1 a Land . 0 b Buildings . 0 c Leasehold improvements . 0 d Equipment . 0 e Other . 0 Total . Add lines la-le . (Column (d) should equal Form 990, Part X, column (c) Depreciation (d) Book value 4,902450 42,113,121 0 14,376,5371 0 (B), lin e 10(c) .) X 13,731 056 0 11,725,025 0 ► 4,902,450 28,382,065 0 2,651,51 2 0 35-936,02 7 S chedule D (Form 990) 2008 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 Schedule D Form 990) 2008 Page 3 Investments-Other Securit i es . See Form 990, Part X, line 12 . (a) Descript ion of secur ity o r ca tego ry (Including n a me of securi ty) (c) Meth od of va luation : Cost or end-of-year market value (b) Book value Financial derivatives and other financial products . Closel y-hel d e q uity int eres t s . Other -------------------------------------- - 0 0 -- ---- -- ----- -- ----- - ------ - ------- -- ---- --- -- 0 -------------------------------------------- - 0 ------ - -------------------------------------- 0 --------------------------------------------- 0 0 0 ------------------------------------------- --------------------------- - ------ -- ----- -- -- 0 --------------------------------------------- 0 --------------------------------------------- 0 0 Total . (Column (b) should equal Form 990, Part X, cot. (B) fine 12.) ► . 1 I17VP_Ctl'Y1 P_ 17 tS-PYAOYAM RBI9fP. CI _ 0 R P.P. Form Am . PA rt X 12 . (c) Meth od of valuat ion : Cost or end-of-year m arket value (b) Book value (a) Descri pti on of investment type line 0 0 0 0 0 0 0 0 0 0 Total. (Column (b) should equal Form 990, Pert X, col. (B) line 13.) ■ :0iil:M ► 0 Other Asse+ s _ Sea Fn rm 99n P art X line 1 5 (a ) Desc rip tion (b) Book value 0 0 0 0 0 0 0 0 0 0 Tota l . (Column (b) should equal Form 990, Part X, col. (B) line 15.) ► 0 In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for unce rt ain tax positions under FIN 48 . Sc hedu l e D (Form 990) 2008 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 page 4 Schedule D Form 990) 2008 Re c on c il i ati on of Ch a nce i n N et Assets from Form 990 to Financial Statement s R!Pr.iW.M 1 2 3 4 5 Total revenue (Form 990, Part VIII, column (A), line 12) . Total expenses (Form 990, Part IX, column (A), line 25) . Excess or (deficit) for the year . Subtract line 2 from line I . Net unrealized gains (losses) on investments . Donated services and use of facilities . 1 2 3 4 5 6 Investment expenses . 6 Prior period adjustments . Other (Describe in Part XIV) . Total adjustments (net) . Add lines 4-8 . Excess or (deficit) for the year per financial statements . Combine lines 3 a nd 9 . 7 8 9 10 7 8 9 10 247,976,78 2 218,053,23 4 29,923,64 8 -5,855,208 -7,874,432 -13,729,640 16,193,90 8 Reconcilia tion of R evenue per Audited Financial Statements With Revenue per Return I Total revenue, gains, and other support per audited financial statements . 2 Amounts included on line 1 but not on Form 990, Part VIII, line 12 : a Net unrealized gains on investments . 2a b Donated services and use of facilities . 2b c Recoveries of prior year grants . 2c d Other (Describe in Part XIV) . 2d e Add lines 2a through 2d . 3 Subtract line 2e from line I . 4 Amounts included on Form 990, Part VIII, line 12, but not on line 1 : a Investment expenses not included on Form 990, Part VIII, line 7b . 4a b Other (Describe in Part XIS . 4b c Add lines 4 a and 4 b . 5 Total revenue . Add lines 3 and 4c. (This should equal Form 990, Part I lin e 12 .) 9971 M, R econciliation of Expenses per Audited Financial Statements With 1 Total expenses and losses per audited financial statements . 2 Amounts included on line 1 but not on Form 990, Part IX, line 25 : a Donated services and use of facilities . 2a b Prior year adjustments . 2b c Losses reported on Form 990, Part IX, line 25 , 2c d Other (Describe in Part XIV) , 2d e Add lines 2a through 2d . 3 Subtract line 2e from line 1 . 4 Amounts included on Form 990, Part IX, line 25, but not on line 1 : 4a a Investment expenses not included on Form 990, Part VIII, line 7b . b Other (Describe in Part XIV) . 411b c Add lines 4 a and 4 b . 5 Total expenses . Add lines 3 and 4c . (This should equal Form 990, Pa rt I line 18 .) 1 240,370,692 2e 3 -13,729,64 0 254 100,33 2 -5,855,208 -7,874,432 -6 123 550 c 6,123,55 0 5 247,976,78 2 Expenses per R eturn 1 224,176,78 4 6,174,55 0 2e 3 6,174,55 0 218,002,23 4 c 5 1,00 0 218,053,234 51,000 11MMIKUT Supplemental Informatio n Complete this pa rt to provide the descriptions requ i red for Part N , l ines 3, 5, and 9 ; Part III , lines la and 4 ; Pa rt IV, lines lb and 2b ; Part V, line 4 ; Part X ; Pa rt XI , line 8 ; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b , Part Ill Line 1a FINANCIAL STATEMENT NOTE 1 : THE VALUE OF THE NRA'S FIREARMS MUSEUM COLLECTION ----------------------------------------------------------------------------------- Part III Line_1 a_~CONT:Z HAS BEEN EXCLUDED FROM-THE-ACCOMPANYING STATEMENTS-OF FINANCIAL ------------------II Line 1 a_(CONT,Z POSITION . ONLY PURCHASES OF FIREARMS AND OTHER OBJECTS AND NOT -------------------------------------------------------------------------------------Part IIl Line 1a (CONT, ZDONATIONS ARE RECOGNIZED IN THE STATEMENTS OF ACTIVITIES . FIREARMS -----------------Part III Line_1a_tCONT,ZAND OTHER OBJECTS IN THE NRA MUSEUM ARE NOT INTENDED FOR SALE OR EXCHANGE .____ Part III Line 4 NATIONAL FIREARMS-MUSEUM PROMOTES GUN COLLECTING AND PRESERVATION _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Part III Line 4 (CONT_) OF HISTORY THROUGH THE HERITAGE OF-FIREARMS. Part III Line 4 (CONT .) VISIT WWW .NATIONALFIREARMSMUSEUM .ORG FOR MORE . Schedule D (Form 990) 200 8 _ NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 Schedule D (Form 990 2008 Page 5 Supplemental Information (continued) Pa rt III Line 4 NRA ENDOWMENT FUNDS BENEFIT NRA INSTITUTE FOR LEGISLATIVE ACTION NATIONA L Part Line-4 CONT.)CHAMPIONSHIPS R MARKSMANSHIP ENFORCEMENT. -- V ----------1 LAW - - --------------------- --- - ------ - --- - --- -- -- --- _ _ _ _ _ _ _ _ _ _ _ _ , - - - - --- - Pa rt XI Line 8 INCLUDES AGENCY TRANSACTIONS AND UNREALIZED LOSS ON DERIVATIVE INSTRUMENT . --------------------------------------------------------------------------rt XII Line 2d INCLUDES AGENCY TRANSACTIONS AND UNREALIZED LOSS ON DERIVATIVE INSTRUMENT . -Pa----------------------------------------------------------------------------------------------------------------------Pa rt XII Line 4b INCLUDES COST OF GOODS SOLD RENTAL EXPENSE AND_INTEREST ON ENDOWMENT GRANTS ----------Part X11 l Line 2d INCLUDES COST OF GOODS SOLD AND RENTAL EXPENSE . ____ ___ _ _ _____ ____ __ _ _____ ___ _ ___ _ ___________ _ . PartXlll Line 4b INCLUDES INTEREST ON-ENDOWMENT GRANTS _ ___ _ __ ___ _______ ___ _ ___ ___ ______ _ _ ____ _ __ __ _______ _ ______ -------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------- ------------------------------------------------------ --------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------ ----------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------ Sched ule D (Form 990) 2 008 SCHEDULE G (Form 990 o r 990-EZ) OM B N o. 1545-0047 Supplemental Information Regarding Goo o Fundraising or Gaming Activitie s Department of the Treasury 110- Attac h to Form 990 or Form 880-EZ, Must be co mpleted by orga ni zat io ns t hat answer "Yes" to Form 990, Part IV, I n ternal Revenue Service lines 1 7, 18, or 19, and by organizati ons tha t ente r m ore tha n E15 ,00 0 on Form 990.EZ , line so . • ~ ~ Empl oye r I dentification n umber Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA 153-0116130 Fundraising Activi t ies . Complete if the organization answered "Yes" to Form 990, Part IV, line 17 . 1 Indicate whether the organization raised funds through any of the following activities . Check all that apply . a OX Mail solicitations e ~ Solicitation of non-government grants b X Email solicitations f ❑ Solicitation of government grants c QX Phone solicitations g ❑ Special fundraising events d n In-person solicitation s 2a Did the organization have a written or oral agreement with any individual (including officers, d i rectors, trustees or key employees listed in Form 990 , Part VII) or entity in connection with professional fundraising se rv ices? X Yes No b If "Yes," list the ten highest paid individuals or entities (fundralsers) pursuant to agreements under which the fundraiser i s to be compensated at least $5 , 000 by the organization . Form 990-EZ filers are not required to complete this table . (i) Name of individual or entity (fundraiser) (ii) Activity (III) Did fundraiser have custody or control of contributions? Yes INFOCISION STRATEGIC FUNDRAISING PAID SOLICITOR PAID SOLICITOR (v) Amount paid to (or retained by) fundraiser listed in col. (i ) (iv) Gross receipts from activity (vi) Amount paid to (or retained by) organizatio n No X 7,924,436 4,784,079 3,140,35 7 X 552 406 381 588 170 81 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total . .► S 476 842 5 165,667 3,311 17 5 3 List all states in which the organ i zation is registered or licensed to sol i cit funds or has been notified it is exempt from registration or licensing . KY, NY, PA, UT= VA------------------------------------- - --- --------------- -- -- - ------ -- -- -- -- - - --- --- ------ - --- -- ----------- For Privacy Act and Paperwork Reduction Act Notice , see the Instructions for Form 990 . (HTA) Schedule G (Form sao or eso-EZ) zooe NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Schedule G (Form 990 or 990-EZ) 2008 Page 2 NOR= Fundraising Events . Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 on Form 990-EZ, line 6a . List events with toss receipts greater than $5,000 . (a) Event #1 (b) Event #2 (c) Other Events (d) Total Events (Add col. (a) throug h NRA-ILA EVENT NONE /wvwnf tvnwl I Gross receipts . 2 Less : Charitabl e (avant fii nal . COQ. (c)) l4nfa 1 mmhwrl 0 contributi ons . 0 3 Gross revenue (line 1 mi nus line 2) . 4 Cash prizes . N 5 Non-cash prizes , a~ C. '~j 6 Rent/facility costs . 0 01 0 01 0 7 Other direct expenses . ► 8 Direct expense summary . Add lines 4 through 7 in column (d) . 86,885) 9 Net income summary, Combine lines 3 and 8 in column (d) ► 519,375 Gaming . Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported mor e than $15.000 on Form 990-EZ . line 6a . (b) Pull tabs/instant bingo/progressive bingo (a) Bingo (c) Other gaming (d) Total gaming (Ad d col . (a) through Col. (c) ) N a I Gross revenue . 0 U) 2 Cash prizes . 0 3 Non- cash pri zes . 0 4 Rent/facility costs . 0 5 Other direct expenses . 0 Yes 6 Volunteer labor . No % ❑ Yes ❑ No % ❑ Yes % ~ No Direct expense summa ry . Add lines 2 through 5 in column (d) . ► 8 Net gaming income summary . Combine lines I and 7 in column (d) ► 7 0) 0 Yes 9 Enter the state(s) in which the organization operates gam i ng activities ; -- ------- - -- -- --- - ------ - - - - - a Is the organization licensed to operate gam i ng activities in each of these states? . b If " No , " Expla i n : ------------------------------------------------------------------------------------------------- -- - - --- - -- - --- - ------------- ------ - -- ---- - --- -- -- -- - --- - - ------ -- - --- - - ----- - --- -- --- - - - 10a Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? b If "Yes," Explain : 11 12 -------------------------- - --- -- --- - ------------ -- - ---- ------ - -- - - --------- - - ------ - -- -- --- - --- - - -------- - -- -- -- - --- --- - --- -- -- --- -- --- -- --- ------- -- --- -- - ------ ------- - -- - - ------ -- - -------- - - - -- Does the organ ization operate gaming activities w i th nonmembers? . Is the organization a grantor, beneficia ry or trustee of a trust or a member of a pa rt nership or other entity formed to admin i ster charitab l e gaming? . No 9a 10 a 11 12 Schedule G (Form 990 or 990 - EZ) 2008 53-0116130 NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule G (Form 990 or 990 -EZ) 2008 age 3 No 13 Indicate the percentage of gaming activity operated in : a The organization's facility . b An outside facility . 43a 13b % 14 Provide the name and address of the person who prepares the organization's gaming/special events books and records : Name ► Address ► ------------- 15a Does the organization have a contract with a third party from whom the organization receives gaming revenue? . b If "Yes , " enter the amount of gaming revenue received by the organization ► $ -------------- and the amount of gaming revenue retained by the third party ► $ . . . . . . . . . . . . . . . . c If "Yes ," enter name and address : 1 5a Name ► Address ► 16 Gaming manager information : Name ► .------------- ------------------------------------------------------------------------------ Gaming manager compensation ► $ . . . . . . . . . . . . . . . . . . . . .0 Description of services provided ► ------------------------- - ---------- - --- - --- --- -- - -- ----- - - -- ❑ Director/officer ❑ Employee ❑ Independent contracto r 17 Mandato ry distributions : a Is the organization required under state law to make charitable distributions from the gaming proceeds to retain the state gaming l icense? . 17a b Enter the amount of distributions required under state law distributed to other exempt organizations or spen t in the organization's own exempt activities during the tax year t $ Schedule G (Form 990 or 990 - EZ) 2008 SCHEDULE I (Fo rm 990) ► Department of the Treasury Informal Rnvwm- APnrirn Grants and Other Assistance to Organizations, O MB N o . 1 545-0047 Governments, and Individuals in the U .S . 00 2 8 Comp l ete if the organization answered "Yes," on Form 990 , Pa rt IV, l ines 21 or 22 . ► Attach to Form 990 . 153-0116130 NATIONAL R IFLE ASSOCIATIO N OF A MERICA 17.", General Information on Grants and Ass i stanc e 9 D oes the organization maintain records to substantiate the amount of the gra nts or assistance, the gra nt ees' eligibility for the grants or assistan ce, a nd 2 QX Yes -] No the selection c riteria used to award t h e g ran ts or assistance? . Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States . Grants and Other Assistance to Governments and Organizat i ons i n the United States . Comp lete if the organization a nswered "Yes" on Form 990, Part I V, line 21, for any recipient that received more than $5,000 . Check this box if no one recipient received more than $5,000 . Use ►❑ Part IV and Schedule I-1 (Form 990) if additional space is needed . (f) Method of valuation (book FMV, appraisal, othe r) (e) Amount of non -cas h assistance (h) Purpose of grant or assistance (c) I RC sectio n if applicable 54-1798397 50 1 (c)(4) 240,000 0 L AW ENFORCEM E N' 52-1480785 501 (c)(3) 21,000 0 SC H O LARSHIPS 0 0 0 0 0 0 0 0 0 0 -------------------------------- 0 0 -------------------------------- 0 0 0 0 0 0 0 0 LAW -ENFORCEMENT ALLIANCE 7700 LEES B UR G PIKE FALLS C NATIONAL FD N FOR WOME N L 910 16TH ST NW WASHI N GTON (d) Amount of cash grant (g) Description of non-cash ass istance (b) EI N 1 (a) Name and add ress of o rganization or govern ment ----------------------------------------------------------------------------------------------------------------------------- ------------------------------- ---------------------------------------------------------------------------------------------- .► 10. 2 Enter total number of section 501 (c)(3) and government organizations . 3 Enter total number of other organizations For P rivacy Act and Paperwork Reduction Act Notice , see the Instructions for Form 990 . (HTA) Schedule I ____________ 1 _ 1 (Form 990) 2008 53-0116130 NATIO NAL RIFLE ASSOCIATION OF AM E RICA 990) 2008 Page 2 Schedule I (For m on answered "Yes" on Form 990, Part I V, line 22 . i v i duals in the Un i ted States . Complete if the organizati Grants and Other Assistance to Ind JIM 1 Ica S chPri i da I - 1 fFnrm 99 (11 if arlrf itinnal snare is n Peded _ (a) Type of grant or assistance UNDERGRADUATE SCHOLARSHIPS (c) Amount of cash grant (b) Number of recipients (d) Amount of non-cash assistance (e) Method of valuation (book, FMV, appraisal, other) 16 51,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (f) Description of non-cash assistance 0 0 0 I line Complete this part to provide the i nformation required in Pa rt 2, and any other additional information . Supplemental Information. Pa rt 1 Line -2 NRA-ILA PROVIDES GRA NT SUPPORT TO L EAH EDUCAT ION A N D TRAINING I NITIATIVES, AN D N RA-ACTIVELY ASSISTS NAT IO NAL FO UNDATIO N OF_____ _ -OF- N FWL SCHOLARS H IPS . WOME N LEGISLATORS IN-THE-SELECTION AND ADMINISTRATION --------------------------------------------------------------------------------------------------------- Sche dule I (For m 990) 2008 SCHEDULE J (Fo rm 990 ) Departmen t of the Trea su ry In ternal Revenue Service OMB Compensa ti on I nforma ti o n 2~2 . ~ For ce rtai n Office rs , D irecto rs , Trustees , Key Employees , and Highest Compensate d Employees ► Attach to Form 990 . To be comp l eted by organ izati ons that answe red " Ye s" to Fo rm 990 , Part I V, line 23 . ~ • • Employer Identification number Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA M7Mt Questi on s Regarding Compensation "°.,545-0°4' 53-011613 0 Yes No la Check the appropriate box(es) if the organization prov i ded any of the following to or for a person listed in For m 990, Part VII, Section A, l ine 1 a . Complete Part II I to provide any relevant information regarding these items . ❑ Housing allowance or residence for personal us e QX First-class or charter travel ❑ Payments for business use of personal residenc e Travel for companions QX Tax indemnification and gross-up payments [X Health or social club dues or initiation fee s ❑ Personal services (e .g ., maid, chauffeur, chef) Discretionary spending account b If line 7 a is checked, did the organization follow a written policy regarding payment or reimbursement o r provision of all of the expenses described above? If "No," complete Part III to explain . Did the organization require substantiation prior to reimbursing or allowing expenses Incurred by al l 2 officers , directors , trustee s, and the CEO/Executive Director, regarding the items checked in l ine 1 a? . 1b X 2 X X Indicate which, if any, of the following the organization uses to establish the compensation of th e organization's CEO/Executive Director . Check all that apply . X Compensation committee Q Written employment contrac t ❑ X Compensation survey or study ❑ QX Independent compensation consultant 3 Form 990 of other organizations []X Approval by the board or compensation committe e a b c During the year, did any person listed in Form 990, Part VII, Section A, line 1a : Receive a severance payment or change of control payment? . Participate in , or receive payment from , a supplemental nonqualified retirement plan ? Participate in , or receive payment fro m , an equity-based compensation arrangement? . If "Yes" to any of lines 4a-c, list t he persons and provide the applicable amounts for each item in Part I I L 4a 4b 4c a b Only 501 (c)( 3) and 5 0 1 (c)(4 ) org a n i zati ons must c omp l ete l ine s 5-8 . For persons listed in Form 990, Part VII, Section A, line 1 a, did the organization pay or accrue an y compensation contingent on the revenues of : The organization? . Any related o rg anization? . If "Yes" to l ine 5a or 5b, describe in Part III . For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue an y compensation contingent on the net earnings of : 5a 5b X X a The organizat ion? . 6a X 6b X 7 X 8 X 4 5 6 b Any related organization? . I f "Yes" to line 6a or 6b, describe in Part Ill . 7 For persons listed in Form 990, Part V I I, Section A, l ine 1 a, did the organization provide any non-fixe d payments not described in lines 5 and 6? If "Yes," describe in Part III . Were any amounts reported in Form 990, Part VII, paid or accrued pursuant to a contract that wa s 8 subject to the initial contract exception described in Regs . section 53 .4958-4(a)(3)? If "Yes," describ e in Part III . For P ri v acy Act an d Paperwo r k Re du c ti on Act Notic e, se e th e I n stru c t ion s for Fo rm 990 . (HTA) X X Sc hedul e J (Form 990) 200 8 53-0116130 N ATIONAL R I FLE AS SOCIATION OF AME RICA Sched ule J (Form 990) 2008 Page 2 ghest Compensated Employees. Use Schedule J-1 if additional space is needed . Offi cers, Directors, Trustee s, Key Employees, and H i For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from re l ated organizations, described in the instructions, on row (ii) . Do not list any individuals that are not listed on Form 990, Part VI I. Note . The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line la . (B) Breakdown of W-2 and/or 1099-MISC compensation (i) Base (A) Name (ii) Bonus & incentive compensa tion compensation (D) Nontaxable benefits (C) Deferred compensati on (iii) Other reportable (F) Compensa tio n reported in prio r Form 9 90 or Form 990-Q (E) Total of columns (B) (i1}-(D) compensation WAYNE LAPIERRE (ii) CHRIS W . COX (ii) WILSON H . PHILLIPS JR . (1) JAMES JAY BAKER BEN CASE 0) (ii) (i} (n) 0) ii) JOSEPH GRAHAM (i) {ii) RANDY KOZUCH `34642 --------(ii) MARY CORRIGAN MICHAEL MARCELLIN L929 0 --------- 495,485 ---_----- 881 179 ----- - - - - ------ 0 ---------- 53 1469 ----------31,796 --------- 668 ---------------- 0 0 0 0 0 0 0 ___25,709 _________ 64907 _ ______________ 0 _________ 386,010 _________ 45= 071 _ --------- KAYNE 8 . ROBINSON EDWARD J . LANDJR_ --------- 624 .808 -----------88,416 ---------426344 ---------- 98,,406 ----------43,661 -------- ! ,281635 --------------- 0 0 0 0 0 0 0 0 V) (ii ) (ii) (ii) (ii) (i ) (ii1 f ~) 00 (i!) 0 ---_----- 441819 0 -- - -91,975 0 240 .000 --------0 - -- ------------ 0 0 _---- --- - -6,356 0 _41,650 ---- ----0 --------- 117348 ---- 55 299 --------- 615 L254 --------------- 0 --------- 17 L020 0 ---37,391 ---------521 :497 ------- - ------- 0 0 0 0 ---- - - --------- ~ ------- 2402000 -------------- 0 0 0 ----------35,487 --------- 647087 --------------- 00 0 0 ----------10 .118 --------- 426 L800- ---------------- 00 0 0 L 0 __________36,912 _________454 570 _________ ?43,488 _ ______ _ 100 =000 0 -------------- - 0 0 0 0 L923 ----------------- --------- 166,932 -------- 163,889 ---- ----------- 0 --------- 32 1520 ----------30,582 --------- 393 ------ -------- - ~ ---------------~ 0 0 --------- 394,580 -------- 2001000 0 0 323 .839 --------------0 --------0 01 ---------------~ 0 ---------- 17 =020 0 --------- 26 L487 0 152 0 __ 32 -------0 0 0 0 0 0 0 0 0 70088 --------295 L618 -------------------------0 --------171020 ---------31226 -------137,284 --------- ? 0 0 0 0 0 0 0 0 0 0 ------------- --- - ---- -- -- -- - - - - -- - - -- ------~ ------- 0 0 0 0 0 0 0 ---------------- 0 --------------- 0 --------------- ~ --------------0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o ------------ -- - ° ---------------°0 ----------------°0 ----------------°0 --------------- °0 ---------------- °o -------------- - o o o 0 0 Sc hedule j (F o rm 99u) "lu uti NATIONAL RIFLE ASSOCIATION Schedule J (Form 990) 2008 Supplementa l Informat i o n OF AMERICA 53-0116130 Page 3 Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1 a, 1 b, 4c, 5a, 5b, 6a, 6b, 7, and 8 . Also complete this part for any additional information . Part I Line 4 b 457F-AMOUNTS- INCLUDED tN DEFERRED COMPENSAT ION :WAY N E LAPIE R RE $65,933 _WI lSON N_ PHILLIPS-JR .-$75,232 -------- -----------------------Part I L ine 4b 457E AMOUNTS INCLUDED IN DEFERRED COMPENSATION : CHRIS COX $20,949. MARY CO RRIGAN $9,467. KAYN E ROBI N SO N $84,828. Part I Line-1 a-CHARTER TRAVEL-WAS U SED-ON OCCASIONS INVOLVI NG MULTIP L EVENTS-WHEN-REDUCED-AIRLINE SCHEDULES- PR EC L U D E D OTH ER O PT ION S . -----------------------------------------------------------------------------------------------------------------------------------------------------------E-Pa rt-I- Line-1 a-CERTAI N CO M PEN SAT IO N-ELE M E NTS WERE GROSSED UP-I N 2008 . ALL TAX-G ROSS- UPS-WER E-I NCLUDED-IN -PART-11 . -------------------------------------------------------------------------------------------------------------------------------------------------------- Pa rt (Line 1a CLUBS, SUCH AS SAFARI CLUB AND LUNCHEON CLUB, ARE USED-FOR BUSINESS PURPOSES . ________________________________________________________ _ ------------------------------- -------Pa rt I I Line E N OT E : TOTAL CO M PE N SAT IO N I N SCHEDULE J PART it COLUM N E SHOUL D NOT B E EXPECTED TO TIE TO 990 PART VII COMPE NSATIO N ---------------------------------------------------------------------------------------------------------------------------------------------------------------------P art I I Line E SCONT.) T OTALS PER EMPLOYEE AS SHOWN IN-SCHEDULE-J-2 DUE TO-DIFFERENT-DEFINITIONS-AND-EXCLUSIONS -----------------------------------Part II Line BQii) OTH ER RE PORTABLE COMPE N SATION; VESTI N G AND ONE-TI M E DISTR IBUTION OF DEFERR ED COMPE NSATIO N DU E TO-IRS-REGULATION-CHANGE . Sch edule J (Form 990) 2008 SCHEDULE L (Form 990 or990•EZ) OMB No. 1545-0047 0 08 Transactions With Interested Persons Attach to Form 990 or Form 990•EZ . To be completed by organizations that answered "Yes" on Form 990, Part IV, line 25a, 25b, 26, 27, 28a, 28b, or 28c, Depa rtment of the Treasury Internal Revenue Service or Form 990-EZ Part V line 38a or 40b. Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-011613 0 Excess Benefit Transactions (section 501 (c)(3) and section 501 (c)(4) organizations only) . To be completed by organizations that answered "Yes" on Form 990, Pa rt IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b . 1 (a) Name of disqualified perso n (c) Corrected? (b) Descripti on of transaction Yes No I 2 Enter the amount of tax imposed on the organ izati on managers or disqualified persons during the yea r ► • under section 4958 . . • ► , above , reimbu rsed by the organization 3 Enter the amount of tax , if any, on line 2 $ $ Loans to and/or From Interested Persons . jj~ I ~ .. , . .. .,, ..i, .~..a ti., ,. .rti~t ---t Wocl$ r,r, Fnrm Min Pa rt IV lino 9 9 or Fnrm 990-EZ . Part V . Ilse 38a . (b) Loan to or from the organization? (a) Name of interested person and purpose TO (d) Balance due (c) Origina l principal amount From 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 ► Total . MUM (e) In default? (f) Approved by board or committee? (9) Writte n agreement ? Ye s Yes Yes No No No Grants or Assistance Benefitting Interested Persons . To be completed by organizations that answe red "Yes " on Form 990 , Part IV , l i ne 27 . (a) Name of interested person I (b) Re lati onship between In terested person and the (c) Amo un t of grant or type of a s si stance organiza tion Business Transactions I nvolving Interested Persons . Tn ho rmm n lat url Itv n rnAY1I7A} l A11A fMAt AfISWP. I'P_ CI "Yes" (a) Name of interested person (b) Relationship between interested person and th e organization on Form 990 . Part IV . line 28a . 28b . or 28c . (c) Amount of transaction (d ) Description of transaction (e) Sharing of organization's revenues ? Yes JAMES JAY BAKER DAVID BUTZ MARION HAMMER FORMER OFFICER DIRECTOR DIRECTOR 240,000 CONSULTING 150,000 CONSULTING 122,000 CONSULTING 0 0 0 For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990. (HTA) No X X X Schedule L (Form 990 or 990-EZ) 2008 SCHEDULE M (Form 990 ) OMB No. 1545- 00 NonCash Contributions ► Department of the Treasury Internal Revenue Service Name of the organization 200 8 To be completed by organizations that answered "Yes" on Form 990, Part IV, lines 29 or 30 . 10, Attach to Form 990 . Empl oye r ident ificat ion num ber ;IEEE ASSOCIATION OF T vnes of Pr onerty (a) Check If applicable . I Art-Works of a rt . 2 Art-Historical treasures . 3 Art-Fractional interests 4 Books and publications . 5 Clothing and household goods . 6 Cars and other vehicles . 7 Boats and planes . . 8 Intellectual property . 9 Securities-Publicly traded . 10 Securities-Closely held stock 11 Secur ities-Pa rt nership , LLC , . or trust interests . 12 Securities-Miscellaneous , 13 Qualified conservatio n contribution (historic structures) . 14 Qualified conservatio n contr i bution (other) . 15 Real estate-Residential . . 16 Real estate-Commercial . . 17 Real estate-Other . . 18 Collectibles . 19 Food invento ry . 20 Drugs and medical supplies 21 Taxidermy . 22 Historical artifacts . X (b ) Number of contributions (d ) Method of determining revenues (c ) Revenues reported o n Form 990, Pa rt VIII line 1 3 176,883 SELLING PRIC E 23 Scientific specimens . 24 Archeological a rtifacts , 25 Other ► C - ------ - - - --- - - - ) 26 Other ► ( - - --- - ---------- ) 27 Other ► 28 Other ► ( -- - ---- -- ----- - - ) 0 0 0 0 0 0 0 0 29 Number of Forms 8283 received by the organization during the tax year for contributions fo r which the organization completed Form 8283 , Part IV , Donee Acknowledgement . 0 29 Yes 30 a During the year, did the organization receive by contribution any prope rty reported in Part I, lines 1-2 8 that it must hold for at least three years from the date of the initial contribution, and which is no t requ i red to be used for exempt purposes for the entire holding period? . b If "Yes ," describe the arrangement in Part I L 31 Does the organization have a gift acceptance policy that requires the review of any non-standar d contributions? . 32 a Does the organization hire or use third parties or related organiza t ions to solicit, process, or sel l noncash contributions? , b If "Yes , " describe in Pa rt 11 . 33 If the organization did not report revenues in column (c) for a type of pro perty for which column (a) i s checked , descri be in Pa rt II . For P rivacy Act and Pap erwork R eduction Act Notice, see th e I nst ructions for F orm 990 . (HTA) 30a No X 31 X 32 X Schedu l e M (Form 990) 2 00 8 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Schedule M (Form 990) 2008 Page 2 Supplemental Information . Complete this part to provide the information required by Part I, lines 30b, 32b, and 33 . Also complete this part for any additional information . Part I Line 9b REPORTING NUMBER OF CONTRIBUTIONS RECEIVED. Part I Line 32a DONATIONS OF STOCK ARE SOLD BY THE INVESTMENT MANAGER AS SOON AS POSSIBLE . -----------------------------------------------------------------------------------------------------------------STATEMENT NOTE 1 : THE VALUE OF NRA'S FIREARMS MUSEUM COLLECTION HAS BEEN EXCLUDED -FINANCIAL ---------------------------------------------------------------------------------------------------------------FROM THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION . ONLY PURCHASES OF FIREARM S - --------------------------------------------------------AND OTHER OBJECTS . AND NOT DONATIONS ARE RECOGNIZED IN THE STATEMENTS-OF ACTIVITIES. _________ . Schedule M (Form 990) 2008 SCHEDULE 0 (Form 990) - o,~ - Ro„o„o so,w~o Att ach to Form 990. To be completed by organ i zat ions to pro v i de add itional info r mation for responses to specific question s for the Form 990 or to provide any addit i onal i nformati o n. NA OF ► Department o f the T reasu ry OMB No . 1 545 -0047 Supplemental Information to Form 9 90 '2W 8 o 30 -Form-990-Part VI-Section A -Line 6_NRA_IS A MEMBERSHIP ASSOCIATION__________________________________________________ Form_990 Part VI- Section A Line 7a NRA MEMBERS ELECT ALL 76 DIRECTORS OF-THE BOARD_____________________________ ARE SUBJECT TO MEMBERSHIP APPROVAL PER BYLAW S Form990 Part VI Section A Line 7b CERTAIN BOARD DECISIONS -------------------------------------------------------------IN DETAIL BY EXTERNAL AUDITING FIRM AND THE BOARD Form 990 Part VI Section A Line 10 990 FILINGS ARE REVIEWED ------------------------------------------------------------------------- - ----------------------AUDIT COMMITTEE .----------------------------------------------------------------------------------------------------Form_990_Part VI - Section B Line 12c ANNUAL FILINGS-BY ALL BOARD MEMBERS ARE REVIEWED BY NRA SECRETARY_____ Form_990 Part X Section- B Line -1-5b-COMPENSATION- COMMITTEE REVIEWS AND RECOMMENDS TO FULL BOARD ._________ 990 READEFt NOTE : DEFERRED COSTS AND DEFERRED REVENUES RELATED TO MEMBERSHIP_________________________ REVENUE FO R ACQUISITION AND RENEWAL ARE ACCOUNTING-ENTRIES REQUIRED UNDER GAAP ._DEFERRED - ---------------------------------DUES IS NOT A LIABILITY AS IT RECOGNIZES REVENUE TO BE COLLECTED IN FUTURE AND MATCHED WIT H -------------------------------------------------------FUTURE -SERVICES-PROVIDED-TO-MEMBERS . DUES REVENUE IS RECOGNIZED OVER THE LIFE OF _THE MEMBERSHIP ._ _ For Pr ivacy Act and Pape r wo rk Reducti o n Act Not ice , see t he Inst r ucti ons for Fo r m 990. (HTA) Schedule 0 (Form 990) 2008 Related Organizations and Unrelated P artnerships OMB No. Attach to Form 990 . To be completed by organizations that answered "Yes" to Form 990, Part IV, line 33 , 34 , 35, 36, or 37. _ SCHEDULER (F orm 990) ry Dep artment of the Treasu Internal Revenue Service I 10- ON Q 06 ► See separate instructions . 9 Employer identification number Name of the organiza tion RICA 53-0116130 NATIONAL RIFL E ASSOCIATIO N OF AME Identifi cati on of D i sregarded Entiti e s (A) (B) P ri ma ry activity Name, add ress, and EIN of d isregarded entity (C) Legal domicile (state or foreign country) (D) Total income (F) Direct cont rollin g entity ( E) End-of-year assets ------------------------------------------------------------------------ 0 0 ------------------------------------------------------------------------ 0 0 ------------------------------------------------------------------------ 0 0 ------------------------------------------------------------------------ 0 0 ------------------------------------------------------------------------ 0 0 - ----------------------------------------------------------------------- 0 0 Identification of Related Tax-Exempt Organization s (B) Primary activity (A) Name, address, and EIN of related organizatio n ( C) Legal domicile (state or foreign country) (o) Exempt Code section (E) Public charity status (if section 501 (c)(3)) (F) Direct controlling entity NRAFOUNDATION INC52_1710886________ _ ___________________________ _ CHARITABLE 11250 WAPLEB MILL RD FAIRFAX, VA 22030 DC 501 (c)(3) LINE 7 N/A 4 NRA SPECIAL CONTRIBUTION FUND 23-736753 ----------------------------------- ------- PO BOX 700 BATON NM 87740 CHARITABLE NM 501 (c)(3) LINE 11 N/A CHARITABLE VA 501 (c)(3) LINE 7 N/A CHARITABLE VA 501 (c)(3) LINE 11 N/A NRA CIVIL RIGHTS DEFENSE FUND 52-1136665 ------------------------ 1 11250 WAPLES MILL RD, FAIRFAX, VA 22030 NRA FREEDOM ACTION FOUNDATION 26_ 1277941____________________ _ 11250 WAPLEB MILL RD FAIRFAX VA 22030 ----------------------------------------------------------------------- ----------------------------------------------------------------------- - Fo r Pri va cy Act and Paperwork Red uct i on Act Noti ce, see the Instru ctions for Form 990 . (HTA) S chedule R (Form 990 ) 2008 Schedule R (Form 990) 2008 NATIONAL RIFLE ASSOCIATION OF AM E RICA 53-0116130 e2 Ident ifi cat ion of Related Organizati ons Taxable as a Partnersh i p (A) Name, addre ss , and EIN of related organ izat ion (B) Pri ma ry activity (C) ( D) (E) Legal domi cile (state or foreign country) Direct controlling entity P redominant income (related, i nvestment , unrelated) (F) Sh a re o f total income (H) (G) Disproportiona te a 11Ocat101u' S hare of en d-0f-year assets Yes p) W) Code V--UBI amount in box 20 of Schedule K-1 (Form 1065) General or managing partneR Yes No --------------------------------------------------- ----------------------------------------------------------------------------------------------------- 0 0 0 0 0 0 0 0 0 0 0 0 p 0 0 0 0 0 0 0 0 -------------------------- No Identifi cation of Rela ted Organ izat i ons Taxable as a Corporati on or Trus t (A) Name , address, and EIN of related organizati on (B) Pri ma ry a ctivity (C) Legal domicil e (state or foreign country ) (D) Dire ct co ntro lling entity (E) Type of entity (C corp, S corp, or trust) (F) Share of total i ncome (G) Share of end-of-year assets (H) Percentage ownership ------------------------------------------------------0 0 % 0 0 % 0 0 % ------------------------------------------------------- p 0 ------------------------------------------------------- 0 0 % ------------------------------------------------------- p 0 % 0 01 1 ------------------------------------------------------- ----------- - - - ------------- - ---------------- --- -- -- ---- ------------------------------------------------------- Schedule R (Form 990) 2008 Schedule R (Form 990) 2008 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 e 3 Transactions With Related Organization s Yes Note. Complete line 1 if any entity is listed in Parts II, III, or IV. I Du ri ng the tax year, did the organizati on engage in any of the following transactions with one or mo re re lated organizations listed in Parts 11-N? a Receipt of (i) interest (ii) annuities (iii) roya lties (iv) rent from a controlled entity . No T 1a X b Gift, grant, or capital contribution to other organization(s) . 1b c Gift, grant, or capital cont ri bution from other organization(s) . 1c d Loans or loan guarantees to or for other organizati on(s) . e Loans or loan guarantees by other organizati on(s) . 1d 1e X X f Sale of assets to other organization(s) . g Purchase of assets from other organization(s) . h Exchange of assets . i Lease of facilities, equipment, or other assets to other organization(s) . if 1 1h 1i X X j Lease of facilities, equipment, or other assets from other organization(s) . X X X 1 X k Pe rformance of se rvices or membership or fundraising solicitations for other organization(s) . I Pe rformance of services or membership or fundraising solicitations by other organization(s) . m Sharing of facilities, equipment, mailing lists, or other assets . n Sharing of paid employees . 1k 11 1m X X X In X o ' Reimbursement paid to other organization for expenses . p Reimbursement paid by other organization for expenses . 10 1 X q Other transfer of cash or prope rty to other organizati on(s) . 1 X r Other transfer of cash or property from other organization(s) 1r X X 2 If the answer to any of the above is "Yes ." see the instructions for informa ti on on who must complete this line. including covered rela tionships and transaction fhreshofds . Name of other organization(s) (1) NRA FOUNDATION INC Transactio n type (a-) c 2 NRA FOUNDATION INC Amount involve d 9,336 484 3,950,04 1 3 NRA FOUNDATION INC n 2,829,902 4 NRA SPECIAL CONTRIBUTION FUND a 120,000 5 NRA SPECIAL CONTRIBUTION FUND 6 NRA CIVIL RIGHTS DEFENSE FUND 507,64 1 56,19 5 S chedule R ( Fo r m 990) 2008 Schedule R (Form 990) 2008 NATIONAL R IFLE ASSOCIATION OF AMERICA 53-0116130 Page 4 U n related Organ i zati on s Taxable as a Partnersh i p Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructi ons repardina exclusion for certain investment partnerships . Name, address, and EIN of entity P rimary activity L ega l dom icile (state or foreign count ry) Are all pa rtners 501 (c)(3 ) organizations? Yes ------------------------------------------------------------------------------------------------------------- Disproportionate a vocations? Share of end -of-year assets No Yes Code V-UBI amount in box 20 of Schedule K-1 (Form 1065) General or managing partner? No Yes 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 p 01 No ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1 S chedule R ( Fo r m 990 ) 2008 NAT IO NAL RI FLE ASS O C I AT IO N O F AME R ICA O FF I CE OF T H E G ENE RAL CO UNSE L 11250 WAPIA'SiMILL ROAD FAIRFAX, VIRGINIA 2203 0 (703) 267-1250 (703) 267-3985 fa x NRA December 28, 200 9 New York State Department of Law Office of the Attorney General Charities Bureau - Registration Sectio n c/o Karin K. Goldman, Asst . Attorney General 120 Broadway, 3rd Floor New York, NY 10271 RE: REGISTRATION # : 02-21-64 (NATIONAL RIFLE ASSOCIATION OF AMERICA) ANNUAL CHARITABLE RENEWA L Dear Ms . Goldman: The submittal of the enclosed items is made on behalf of the National Rifle Association of America . The items reflect the reporting period for the fiscal year ending December 31, 2008 . The enclosures are as follows : 1 . A check payment in the amount of $775 .00 for registration fee 2. Annual Filing for Charitable Organizations Form CHAR50 0 3 . 2008 Financial Statements with Report of Independent Auditors 4. IRS Form 990 For our own records please send the National Rifle Association of America a letter indicating your approval of the solicitation renewal . A date-stamped copy of this cover letter will be sufficient . A self-addressed stamped envelope is enclosed for your convenience . If you have any questions or require additional information, please contact me at (703) 267-1250, at the address above or by email at sellers@nrahq .org . Thank you for your assistance . Sincerely, f y Shannon M . Sellers Paralegal National Rifle Association Enclosures