GrOup Ch?dk :va G2019lil90000026 CHAR500 . 'NYS Annual Filing for Charitable Organizations www.CharitiesNYS.com 2018 5end with fee and attachments to: . NYS Office of the Attorney General Charities Bureau Registration Section 28 Liberty Street New York, NY 10005 Open to Public Inspection eneral Information . - 1 2 / 3 1 / 2 0 1 8 0 1 0 1 For Fiscal Year Beginning (mm/dd/yyyy) / / 2018 and Ending (mm/dd/yyyy) Name of Organization: Employer Identification Number (EIN): Check if Applicable: , National Rifle Association of America 5 3 0 1 1 6 1 3 0 Address Change Name Change Mailing Address: Initial Filing 11250 Waples Mill Road, Final Filing City / State /Zip: Amended Filing Fairfax, VA 22030 Reg ID Pending Website: www.nra.org NY Registration Number: 0 7A only - 2 1 - 6 4 Telephone: 703-267-1250 Email: GCOUNSEL@NRAHQ.ORG . Check your organization's registration category: 2 EPTL only EXEMpr ri DUAL (7A & EPTL) Confirm your Registration Category in the Charities Registry at www.CharitlesNYS.com. ertification See Instructions for certification requirements. Improper certification is a violation of law that may be subject to penalties. The certification requires two signatories. We certify under penalties of perjury that we reviewed this report, including all attachments, and to the best of our icnowledge and belief, they are true, correct and complete in accordance with the laws of the State of New York applicable to this report. ......--1 fectsuf enzo ia.,spra,et Rresident-erkrithefieeclh4Reert- Signature Print Name and Title 1 k-eiai-tre.,4ate ' e...et. ,.. mkt , '-e-0 f 00( . nstrin. Zajr%••• . FOISIOP roe -- / Print NarrIA and Titlp. • , . I / 1 13114 1 VISA/ nnual Reporting Exemption Check the exemption(s) that apply to your fiAng. If your organization Is cla ming an exemption under one category (7A or EPTL only filers) or both categories (DUAL filers) that apply to your registration, complete only parts 1, 2, and 3, and submit the certified Char500. No fee, schedules, or additional attachments are required. If you cannot claim an exemption or are a DUAL filer that claims only one exemption, you must file applicable schedules and attachments and pay applicable fees. 3a. 7A filing exemption:Total contributions from NY State including residents, foundations, govemment agencies, etc. did not exceed $25,000 althe r organization did not engage a professional fund raiser (PFR) or fund raising counsel (FRC) to solicit contributions during the fiscal year. , b. EPTL filing exemption: Gross receipts did not exceed $25,000 and the market value of assets id not exceed $25,000 at any time during the fiscal year. 4. Schedules and Attachments See the following page for a checklist of schedules and attachments to complete your filing. Yes No 4a. Did your organization use a professional fund raiser, fund raising counsel or commercial co-venturer for fund raising activity in NY State? If yes, complete Schedule 4a. Yes EftNo 4b. Did the organization receive government grants? If yes, complete Schedule 4b. • 0 MI See the checklist on the next page to calculate your fee(s). Indicate fee(s) you are submitting here: 7A filing fee: EPTL filing fee: Total fee: $ 25 $ 750 $ 775 CHAR500 Annual Filing for Charitable Organizations (Updated January 2019) *The "Exempt" category refers to an organization's NYS registration status. It does not refer to its IRS tax designation. Make a single check or money order payable to: "Department of Law" Page 1 CHAR500 Annual Filing Checklist Simply submit the certified CHAR500 with no fee, schedule, or additional attachments IF: - Your organization is'registered as 7A only and you marked the 7A filing exemption in Part 3. - Your organization Is registered as EPTL only and you marked the EPTL filing exemption in Part 3. - Your organization Is registered as DUAL and you marked both the 7A and EPTL filing exemption in Part 3. Checklist of Schedules and Attachments Check the schedules you must submit with your CHAR500 as described in Part 4: IR if you answered "yes" in Part 4a, submit Schedule 4a: Professional Fund Raisers (PFR), Fund Raising Counsel (FRC), Commercial Co-Venturers (CCV) O If you answered "yes" in Part 4b, submit Schedule 4b: Government Grants Check the financial attachments you must submit with your CHAR500: 111 IRS Form 990, 990-EZ, or 990-PF, and 990-T if applicable r.—.1 All additional IRS Form 990 Schedules, including Schedule B (Schedule of Contributors). Schedule B of public charities is exempt from disclosure MI - and will not be available for public review. Our organization was eligible for and filed an IRS 990-N e•Ipostcard. Our revenue exceeded $25,000 and/or our assets exceeded $25,000in the I—I filing year. We have included an IRS Form 990-EZ for state purposes only. If you are a 7A only or DUAL filer, submit the applicable independent Certified Public Accountant's Review or Audit Report: Ei Review Report if you received total revenue and support greater than $250,000 and up to $750,000. III Audit Report if you received total revenue and support greater than $750,000 0 No Review Report or Audit Report is required because total revenue and support is less than $250,000 0 We are a DUAL filer and checked box 3a, no Review Report or Audit Report is required Calculate Your Fee For 7A and DUAL filers, calculate the 7A fee: O $0, If you checked the 7A exemption In Part 3a ~~ $25, if you did not check the 7A exemption in Part 3a For EPTL and DUAL filers, calculate the EPTL fee: O $0, if you checked the EPTL exemption In Part 3b O $25, if the NET WORTH is less than $50,000 O $50, if the NET WORTH is $50,000 or more but less than $250,000 O $100, If the NET WORTH Is $250,000 or more but less than $1,000,000 O $250, if the NET WORTH Is $1,000,000 or more but less than $10,000,000 O $750, if the NET WORTH Is $10,000,000 or more but less than $50,000,000 EI $1500, if the NET WORTH is $50,000,000 or more Is my Registration Category 7A, EPTL, DUAL or EXEMPT? Organizations are assigned a Registration Category upon registration with the NY Charities Bureau: 7A fliers are registered to solicit contributions in New York under Article 7-A of the Executive Law ("7A") EPTL filers are registered under the Estates, Powers & Trusts Law ("EPTL") because they hold assets and/or conduct activites for charitable purposes in NY. DUAL filers are registered under both 7A and EPTL EXEMPT fliers have registered with the NY Charities Bureau and meet conditions In Schedule E - Registration Exemption for Charitable Organizations. These organizations are not required to file annual financial reports but may do so voluntarily. Confirm your Registration Category and learn more about NY law at www.CharitiesNYS.com. Send Your Filing Send your CHAR500, all schedules and attachments, and total fee to: NYS Office of the Attorney General Charities Bureau Registration Section 28 Liberty Street New York, NY 10005 Need Assistance? Visit www.CharltiesNYS.com Call: (212) 416-8401 Email: Charities.Bureau@ag.ny.gov CHAR500 Annual Filing for Charitable Organizations (Updated January 2019) Where do find my organization's NET WORTH? NET WORTH for fee purposes is calculated on: - IRS From 990 Part I, line 22 -1FtS Form 990 EZ Part I line 21 - IRS Form 990 PF, calculate the difference between Total Assets at Fair Market Value (Part II, line 16(c)) and Total Liabilities (Part II, line 23(b)). Page 2 CHAR500 , 2018 1 , Raisers, Fund Raising Counsels, Commercial Co-Venturers Schedule 4a: Professional Fund www.CharitiesNYS.com Open to Public Inspection If you checked the box In question 4a in Part 4 on the CHAR500 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRC) or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity in NY State. The PFR or FRC should provide its NY Registration Number to you. Include this schedule with your certified CHAR500 NYS Annual Filing for Charitable Organizations and use additional pages If necessary. . Definitions A Professional Fund Raiser (PFR), In addition to other activities, conducts solicitation of contributions and/or handles the donations (Article 7A, 171-aA). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for Itself (Article 7A, 171-a.9). A Commercial Co-Venturer (CM is an Individual or for-profit company that is regularly and primarily engaged in trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization (Article 7A, 171-a.6). Professional fund raising does not include activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a govemment agency or tax exempt organization. 1. Organization Information Name of Organization: National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 2. Professional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information NY Registration Number: Name of FRP: Fund.Raising Professional type: Professional Fund Raiser Ei Fund Raising Counsel Commercial Co-Venturer 501c Solutions LLC Mailing Address: 4 5 5 0 3 3 Telephone: 2530 Meridian Parkway, suite 300 (919) 8 0 6 4 7 5 8 City / State / Zip: Research Triangle, NC 27713 3. Contract Information Contract Start Date: Contract End Date: 1/1/2019 12/31/2019 D es c r i pti o n , Description of Services of Services provided by FRP: rovides counsel an and planning of events and programs as well as strategy development and research. 5. Description of Compensation Compensation arrangement with FRP: Compensation by flat fee and/or net costs reimbursement. Amount Paid to FRP: 616,000 : ommerci ommercial Co-Venturer (CCV) Report D Yes El No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A1 CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 c ‘ 2018 open to Public Inspection Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers www.CharitiesNYS.com if you checked the box in question 4a in Part 4 on the CHAR500 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRC) or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity in NY State. The PFR or FRC should provide its NY Registration Number to you. Include this schedule with your certified CHARM/ NYS Annual Filing for Charitable . Organizations and use additional pages if necessary. initions A Professional Fund Raiser IPFR), In addition to other activIdes, conducts solicitation of contributions and/or handles the donations (Article 7A, 171-aA). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for itself (Artide 7A, 171-a.9). A Commercial Co-Venturer (CM is an individual or for-profit company that ls regularly and primarily engaged In trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization (Article 7A, 171-a.6). Professional fund raising does not include activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a government agency or tax exempt organization. • rganization Information Name of Organization: National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 rofessional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information Name of FRP: Fund Raising Professional type: Professional Fund Raiser E] Fund Raising Counsel Commercial Co-Venturer lInfoCision Management Corp. Mailing Address: 325 Springside Drive NY Registration Number: 3 2 5 71 - 0 9 Telephone: (330) 6 6 8 14 0 0 City / State / Zip: Akron, OH 44333 ontract IInformation Contract Start Date: 8/1/2011 Contract End Date: 6/30/2020 . s es es cc ription ription of of Services Services provided by FRP: o plan, prepare, manage, and conduct a nationally directed outbound telemarketing development campaign to active, apsed, or potential members/donors. . escription of Compensation Compensation arrangement with FRP: per call basis Amount Paid to FRP: 4,840,658 ommercial Co-Venturer (CCV) Report Yes No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A? CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 2018 , Open to Public Inspection Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers www.CharitiesNYS.com If you checked the box in question 4a in Part 4 on the CHAR500 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRQ or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity In NY State. The PFR or FRC should provide its NY Registration Number to you. Include this schedule with your certified CHAR500 NYS Annual Filing for Charitable Organizations and use additional pages if necessary. initions A Professional Fund Raiser (PFR), in addition to other activities, conducts solicitation of contributions and/or handles the donations (Article 7A, 171-a.4). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for Itself (Article 7A, 171-a.9). A Commercial Co-Venturer (CCV) is an individual or for-profit company that is regularly and primarily engaged In trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization (Article 7A, 171-a.6). Professional fund raising does not include activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a government agency or tax exempt organization. • rganization Information Name of Organization: National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 rofessional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information Name of FRP: Fund Raising Professional type: Professional Fund Raiser Allegiance Creative Gro.up Mailing Address: xi Fund Raising Counsel 11250 Waples MIII Road p Commercial Co-Venturer CIty / State /Zip: NY Registration Number: 4 2 9 7 0 6 Telephone: (703) 2 6 7 1 0 0 0 Fairfax, VA 22030 ontract IInformation ontract Contract Start Date: 12/1/2011 , Contract End Date: 1 2/1 /2021 •D es escription c ri pti onofof Services Services provided by FRP: rovides counsel counsel and an promotion planning for marketing and direct response mail and phone progrims. rovides escription of Compensation Compensation arrangement with FRP: Compensation by management commission fee and/or net costs. Amount Paid to FRP: 1,070,000 ommercial Co-Venturer (CCV) Report Yes No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A? CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 2018 , Open to Public Inspection Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers www.CharitiesNYS.com if you checked the box in question 4a in Part 4 on the CHAR500 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRC) or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity in NY State. The PFR or FRC should provide its NY Registration Number to you. Include this schedule with your certified CHARS00 NYS Annual Filing for Charitable Organizations and use additional pages If necessary. Definitions A Professional Fund Raiser (PFR), in addition to other activities, conducts solicitation of contributions and/or handles the donations (Article 7A, 171 -a A). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for Itself (Article 7A, 171-a.9). A Commercial Co-Venturer (ccv) is an Individual or for-profit company that Is regularly and primarily engaged In trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization (Article 7A, 171-a.6). Professional fund raising does not include activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a government agency or tax exempt organization. 1. Organization Information Name of Organization:National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 2. Professional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information Name of FRP: Fund Raising Professional type: McKenna & Associates, LLC 0 Professional Fund Raiser Mailing Address: El Fund Raising Counsel 1220 N. Fillmore Street, Suite 300 El Commercial Co-Venturer City / State / Zip: NY Registration Number: 4 2 7 5 7 4 Telephone: (5!1) 3 1 2 1 4 6 5 Arlington, VA 22201 3. Contract Information Contract Start Date: 1/1/2019 Contract End Date: 12/31/2019 4. Description of Services Services provided by FRP: rovides.consultIng services in the area of general gift cultivation and major.donor development. 5. Description of Compensation Compensation arrangement with FRP: Compensation by flat fee and/or net costs reimbursement. Amount Paid to FRP: $300,000 6. Commercial Co-Venturer (CCV) Report 1:3 Yes 0 No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A7 CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 2018 . Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers www.CharitiesNY5.com Open to Public Inspection If you checked the box in question 4a in Part 4 on the CHAR500 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRC) or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity in NY State. The PFR or FRC should provide its NY Registration Number to you. Include this schedule with your certified CHAR500 NYS Annual Filing for Charitable Organizations and use additional pages If necessary. initions A Professional Fund Raiser (PFR), In addition to other activities, conducts solicitation of contributions and/or handles the donations (Article 7A, 171-a.4). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for Itself (Article 7A, 171-a.9). A Commercial Co-Venturer (CM is an individual or for-profit company that is regularly and primarily engaged In trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charftable organization (Article 7A, 171-a.6). Professional fund raising does not include activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a government agency or tax exempt organization. rganization Information Name of Organization: National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 rofessional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information Name of FRP: Fund Raising Professional type: Rio Ammunition, Inc. • Mailing Address: Professional Fund Raiser ~~ Fund Raising Counsel 433 East Las Colinas Blvd., Suite 900 1R1 Commercial Co-Venturer City / State / Zip: NY Registration Number: Telephone: (2 14) 3 8 9 1 89 61 Irving, TX 75039 ontract Information Contract Start Date: Contract End Date: 6/14/19 6/15/18 3 escription of Services ervices provided by FRP: pales promotion of specific ammunition that contains the NRA logo. es c ri pti on of Compensation Compensation arrangement with FRP: Amount Paid to FRP: N/A ommercial Co-Venturer (CCV) Report Yes D No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A? CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 2018 , Open to Public Inspection Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers www.CharitiesNYS.com If you checked the box in question 4a in Part 4 on the CHARS00 Annual Filing for Charitable Organizations, complete this schedule for EACH Professional Fund Raiser (PFR), Fund Raising Counsel (FRC) or Commercial Co-Venturer (CCV) that the organization engaged for fund raising activity in NY State. The PFR or FRC should provide Its NY Registration Number to you. Include this schedule with your certified CHAR500 NYS Annual Filing for Charitable Organizations and use additional pages if necessary. Definitions A Professional Fund Raiser (PFR), In addition to other activities, conducts solidtation of contributions and/or handles the donations (Article 7A,171-a.4). A Fund Raising Counsel (FRC) does not solicit or handle contributions but limits activities to advising or assisting a charitable organization to perform such functions for Itself (Article 7A, 171-a.9). A Commercial Co-Venturer (CCV) Is an individual or for-profit company that is regularly and primarily engaged in trade or commerce other than raising funds for a charitable organization and who advertises that the purchase or use of goods, services, entertainment or any other thing of value will benefit a charitable organization (Article 7A, 171-a.6). Professional fund raising does not Inc.lude activities by an organization's development staff, volunteers, or a grantwriter who has been hired solely to draft applications for funding from a government agency or tax exempt organization. 1. Organization Information Name of Organization: National Rifle Association of America NY Registration Number: 0 2 - 2 1 - 6 4 2. Professional Fund Raiser, Fund Raising Counsel, Commercial Co-Venturer Information Name of FRP: Fund Raising Professional type: Professional Fund Raiser H.W.S. Consulting, Inc. Mailing Address: El Fund Raising Counsel 221 Homeport Drive El Commercial Co-Venturer City/State/Zip: NY Registration Number: 4 5 5 6 8 7 Telephone: Grasonville, MD 21638 3. Contract Information Contract Start Date: 7/1/2016 Contract End Date: 4/1/2023 - contract terminated 12/31/2018 4. Description of Services Services provided by FRP: rovIdes consulting services in the area of general gift cultivation and major donor development. 5. Description of Compensation Compensation arrangement with FRP: Compensation by flat fee and/or net costs reimbursement Amount Paid to FRP: 360,000 6. Commercial Co-Venturer (CCV) Report D Yes No If services were provided by a CCV, did the CCV provide the charitable organization with the interim or closing report(s) required by Section 173(a) part 3 of the Executive Law Article 7A? CHAR500 Schedule 4a: Professional Fund Raisers, Fund Raising Counsels, Commercial Co-Venturers (Updated January 2019) Page 1 CHAR500 Instructions for Completing Your NY Annual Filing www.CharitiesNYS.com . . Need Assistance? Visit www.CharitlesNYS.com Call: (212) 416-8401 Email: Charities.Bureau@ag.ny.gov 2018 Open to Public Inspection ore You Begin Visit www.CharitiesNYS.com and search the Charities Registry to find your organization's NY State Registration Number (##-01-01) and Registration Category (7A, EPTI, DUAL, or DEMPT). Knowing your organization's Registration Category will help you respond to Sections 1 and 3, determine the required attachments to the CHAR500 and calculate your filing fee. If your organization is not registered with the Charities Bureau, please complete CHAR410 "Registration Statement for Charitable Organizations". eneral Information Enter the accounting period covered by the report. Provide the best contact information for your organization. This inforrnation will be publicly available in the Charities Registry and will be used for communication to your organization. If your organization is registered and this is your regular annual filing, check Initial Filing. If your contact information needs to be updated, check Address Change and/or Name Change. Check Amended Filing if you are making a change to a previous filing. If you have submitted a CHAR410 - Registration Statement for Charitable Organizations - but do not yet have a NY State Registration Number, check NY Reg Pending. If this is a final filing and the organization is seeking dissolution or ceasing operations, check Final Filing and submit all applicable IRS schedules and attachments. If your organization Is a NY corporation, visit www.CharitiesNYS.com for Information on how to dissolve. Check the Charities Bureau Registration Category of your organization (7A, EPTL, DUAL, or EXEMPT). EXEMPT organizations are those that have registered with the NY Charities Bureau and meet conditions in Schedule E - Registration Exemption for Charitable Organizations - but have registered and file voluntarily. . ' ertification When you have completed the form, sign and print the name, title and date. For 7A and DUAL filers, the CHAR500 must be signed by both the president or another authorized officer and the chief financial officer or treasurer. These must be different Individuals. EPTL filers have the option of a single signature if the certification is by a banking institution or a trustee of a trust. Clearly state the title of the representative (e.g. "President," "CEO", Treasurer," "CFO," "Bank Vice President" or °Trustee"). i'nnual Reporting Exemption You may claim an exemption from the reporting and fee requirements if you meet the filing exemptions applicable to your organization. If claiming an exemption under one statute (7A and EPTL only filers) or both statutes (DUAL filers) that apply to your registration, complete only parts 1, 2, and 3, and submit the certified Char500. No fee, schedule, or additional attachments are required. Otherwise, file all required schedules and attachments and pay applicable fees. Note: A 7A or DUAL filer with contributions over 525,000 that did not contract with a professional fund raiser may check the 7A filing exemption In Part 3 if it (i) received all or substantially all of its contributions from a single government agency to which it submitted an annual report similar to that required by Executive Law Article 7A, or (ii) it received an allocation from a federated fund, United Way or incorporated community appeal and contributions from all other sources did not exceed 525,000. 4. Schedules and Attachments if you do not qualify for the reporting exemptions as described In Part 3, review the checklist of schedules and attachments required to complete your filing. If your organization qualified for and submitted an IRS 990-N "e-Postcard", you must complete and submit an IRS Form 990-EZ to the NY Charities Bureau for reporting purposes. The NY Charities Bureau will not.accept an IRS 990-N "e-postcard" because it does not contain sufficient financial information. 5. Fee Your total fee Is based on your registration category (7A, EPTL or DUAL). 7A or EPTL filers only pay the fee that applies to the statute under which they have registered unless they have claimed an exemption in Part 3. DUAL filers must pay both fees, unless they have claimed an exemption In Part 3. Consult the CHAR500 to calculate your fee or contact the NY Charities Bureau if you have additional questions. When to Submit Your Filing 7A and DUAL filers: postmarked within 4 1/2 months after the organization's accounting period ends. For example, fiscal year end December 31 reports are due by May 15th of the following year. EPTL filers: postmarked within 6 months after the organization's accounting period ends. An additional 180 day emension Is automatically granted. Jnformation regarding extensions Is available at www.CharitiesNYS.com. Where to Submit Your Filing Payment must be made to the "Department of Law". Send the complete filing with payment to: NYS Office of the Attorney General, Charities Bureau Registration Section, 28 Liberty Street, New York, NY 10005. Penalties The Attorney General may cancel the registration of or seek civil penalties from an organization that falls to comply with the filing requirements. CHAR500 Instructions for Completing Your NY Annual Filing (Updated January 2019) Page 1 ** PUBLIC DISCLOSURE COPY ** OMB No.1545-0047 Return of Organization Exempt From Income Tax For.990 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) Do not enter social security numbers on this form as it may be made public. Department of the Treasury Internal Revenue Savice Go to www.irs.gov/Form990 for instructions and the latest information. A For the 2018 calendar year, or tax year beginning and ending B Check If applicable: 1--tAddress [ 'change r—t Name change C Name of organization 2018 Open to Public Inspection D Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Room/Suite I E Telephone number 703-267-1000 City or town, state or province, country, and ZIP or foreign postal code 367,702,748. G groserecerpts s FAIRFAX, VA 22030 H(a) Is this a group return d" I-1= F Name and address of principal officer: CRAIG B . SPRAY for subordinates? El Yes C] No Pending SAME AS C ABOVE H(b) Are all subordinates included? n Yes EiNo 501(c)(3) pi 501(c) f 4 )44 (insert no.) 4947(a)(1) or 5271 if 'No,' attach a list. (see instructions) I Tax-exempt status: J Website: ja. WWW . NRA . ORG H(c) Group exemption number 110. Association r--7 Other Ir. Trust L Year of formation: 18711 M State of legal domicile:NY K Form of organization: nig Corporation Part I I Summary _ 'return E—IFlnat return/ tanninated Doing business as Number and street (or P.O. box if mail is not delivered to street address) 11250 WAPLES MILL ROAD El El ri 1-1 ri Briefly describe the organization's mission or most significant activities: FIREARMS SAFETY , EDUCATION, AND TRAINING; AND ADVOCACY ON BEHALF OF SAFE AND RESPONSIBLE GUN OWNERS if the organization discontinued its operations or disposed of more than 25% of its net assets. = 2 Check this box 100 t 76 > 3 Number of voting members of the goveming body (Part VI, line la) 3 o 67 0 4 Number of independent voting members of the goveming body (Part VI, line 1b) 4 0 5 816 ra 5 Total number of individuals employed in calendar year 2018 Part V, line 2a) o 6 Total number of volunteers (estimate if necessary) 150000 6 23,943,194. '2 7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 4 b Net unrelated business taxable income from Form 990-T, line 38 0. 7b Prior Year Current Year 98,026,531. 108,599,726. VIII, fine 1h) 0 8 Contributions and grants (Part 3 146,955,303. 193,010,155. c 9 Program service revenue (Part VIII, line 2g) 0) 4,893,990. 2,192,041. g; 10 Investment income (Part VIII, column (A), lines 3, 4, and 7d) cc 62,111,910. 48,748,942. 11 Other revenue part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 12 Total revenue - add lines 8 through 11 (must equal Part VIII, column (A). line 12) 352,550,864. , 311,987,734. 93,334. 13 Grants and similar amounts paid Part IX, column (A), lines 1-3) 75,661. 14 Benefits paid to or for members (Part IX, column (A), line 4) 0. 0. 66,789,561. 63,864,842. 0 15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5-10) 8,943,038. 1 lea Professional fundraising fees part IX, column (A), line 11e) 7,798,658. 0 )r. 48,091,585 e. b Total fundraising expenses (Part IX, column (D), line 25) 254,005,718. 283,536,156. Lii 17 Other expenses Part IX, column (A), lines 11 al id, 11f-24e) 329,831,651. 355,275,317. 18 Total expenses. Add lines 13-17 (must equal Part IX, column (A), line 25) —17,843,917. —2,724,453. 19 Revenue less expenses. Subtract line 18 from line 12 t3E Beginning of Current Year End of Year 0c _ 196,125,681. 197,212,080. ..4t.. 20 Total assets (Part X, line 16) 171,175,478. 181,180,554. 4 u 21 Total liabilities (Part X, line 26) — ,,,,c 24,950,203. 16,031,526. z.,F 22 Net assets or fund balances. Subtract line 21 from line 20 Part II I Signature Bloc 0 1 V c Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of prepareL/31)erthan officer) is based on all information of which preparer has any knowledge. Sign Here Signature of officer Print/Type preparer's name Preparer's signature ZACK FORTSCH, CPA Preparer Firm's name b. RSM US LLP Use Only Firm's address 10. ONE SOLTTH WACKER DR STE 8 0 0 CHICAGO, IL 60606-3392 Paid Date CRAIG B. SPRAY, TAEASURER • ~~ Type or print name and title Date 11/14/19 9 Check mea if El riPTIN self-emthl kself-erthhoyed iP 00052725 42-0714325 I Phone no.312 —634-3400 May the IRS discuss this return with the preparer shown above? (see instructions) [X3 Yes E] No 832001 12-31-18 LHA For Paperwork Reduction Act Notice, see the separate instructions. Form WM (2018) SEE SCHEDULE 0 FOR ORGANIZATION MISSION STATEMENT CONTINUATION NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Form 990 TO18) Part III Statement of Program Service Accomplishments page2 IX] Check if Schedule 0 contains a response or note to any line in this Part III 1 Briefly describe the organization's mission: PER NRA BYLAWS, TO PROTECT AND DEFEND THE U.S. CONSTITUTION; TO PROMOTE PUBLIC SAFETY, LAW AND ORDER, AND NATIONAL DEFENSE; TO TRAIN LAW ENFORCEMENT AGENCIES AND CIVILIANS IN MARKSMANSHIP; TO PROMOTE SHOOTING SPORTS AND HUNTING. 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? =Yes CINo tf "Yes," describe these new services on Schedule O. 3 Did the organization cease conducting, or make significant changes in how it conducts, any program services? 17 Yes C3 No If "Yes," describe these changes on Schedule O. 4 Describe the organization's program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and 4a 4h 4C revenue, if any, for each program service reported. Mapemes $ 140,238,506.Including grants of $ 75,661. )(Revenues 203,053,219. ) NRA MEMBERSHIP SUPPORT INCLUDES PUBLICATIONS, EDUCATION AND TRAINING, FIELD SERVICES, COMPETITIVE SHOOTING, LAW ENFORCEMENT, HUNTER SERVICES, MEMBER COMMUNICATIONS SERVICES, MEMBER PROGRAMS, MEMBER SERVICES, AND FULFILLMENT OF MEMBER SERVICES. THE CHIEF VALUE OF NRA MEMBERSHIP IS IN GUN SAFETY AND TRAINING ALONG WITH REGULAR REINFORCEMENT OF THESE LESSONS AND PRINCIPLES BY KEEPING ENGAGED WITH THE COMMUNITY OF OUTDOOR LOVERS AND SAFE AND RESPONSIBLE SHOOTING ENTHUSIASTS. NRA MEMBERSHIP SUPPORT AND FULFILLMENT ARE DEDICATED TO PROVIDING NRA MEMBERS WITH HIGH QUALITY SUPPORT AS WELL AS CONTENT DELIVERED THROUGH MANY PLATFORMS. SAFE AND RESPONSIBLE GUN OWNERSHIP REMAINS THE CORNERSTONE OF EVERYTHING THE ASSOCIATION PROVIDES FOR MEMBERS. (code: 32,507,712.inetuding aranfo of $ O. ) (Revenue $ Mawsess 0. ) (code: THE NRA INSTITUTE FOR LEGISLATIVE ACTION ADVOCATES ON BEHALF OF SAFE AND RESPONSIBLE GUN OWNERS. AS THE FOREMOST PROTECTOR AND DEFENDER OF THE SECOND AMENDMENT, THE NRA PROMOTES FIREARMS SAFETY, ADVOCATES AGAINST EFFORTS TO ERODE GUN RIGHTS AND FREEDOMS, FIGHTS FOR INITIATIVES AIMED AT REDUCING VIOLENT CRIME, AND PROMOTES HUNTERS I RIGHTS AND CONSERVATION EFFORTS. NRA MEMBERS RECOGNIZE THIS VITAL IMPORTANCE OF NRAILA'S TRUE GRASSROOTS WORK TO PRESERVE THE SECOND AMENDMENT FOR FUTURE GENERATIONS OF SHOOTERS AND OUTDOOR SPORTSMEN AND SPORTSWOMEN. THIS LEGION OF ENGAGED AND MOTIVATED MEMBERS IS THE REASON FOR THE NRA'S STRENGTH. 18,732,003.Including gtmte et$ 20,582,280. ) (Code: ) (Expenses $ ) (Revenues NRA SHOWS AND EXHIBITS INCLUDE THE NRA ANNUAL MEETINGS AND MEMBERS EXHIBIT HALL, HELD IN A DIFFERENT CITY EACH YEAR, AND OTHER SHOWS AROUND THE COUNTRY. THE ANNUAL MEETINGS AND EXHIBITS ARE PRESENTED AS A CELEBRATION OF AMERICAN FREEDOM FEATURING ACRES OF EXHIBITS, PREMIER EVENTS, EDUCATIONAL SEMINARS AND WORKSHOPS, AND FUN—FILLED ACTIVITIES FOR THE ENTIRE FAMILY. DALLAS, TEXAS WAS THE 2018 HOST CITY. OTHER NRA HOSTED SHOWS INCLUDED THE GREAT AMERICAN OUTDOOR SHOW HELD IN HARRISBURG, PENNSYLVANIA. 4d Other program services pescribe in Schedule O.) . fevoosoos 59,426,544. 4e Total propram service exPenseslly. including grants of $ 250,904,765. 0 • ). (Revenue $ 1,330,515.1 Form 990 (2018) 832002 12-31-18 NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 (2018) 1 Part !VI Checklist of Required Schedules 53-0116130 paje3 Yes 1 Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? 2 3 ff "Yes, " complete Schedule A Is the organization required to complete Schedule B, Schedule of Contributors? Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for 4 5 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or 6 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or irwestment of amounts in such funds or accounts? If °Yes," complete Schedule D, Part Did the organization receive or hold a conservation easement, including easements to preserve open space, 6 7 the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part Did the organization maintain collections of works of art, historical treasures, or other similar assets? ff "Yes, " complete 7 8 Schedule D, Part 8 X 1 2 X public office? If "Yes," complete Schedule C, Part I Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect 3 X during the tax year?. If °Yes," complete Schedule C, Part II 4 similar amounts as defined in Revenue Procedure 98-19? If °Yes," complete Schedule C, Part III 5 No X X X Did the organization report an amount in Part X, line 21, for escrow or custodial account liability, serve as a custodian for amounts not listed in Part X; Or provide credit counseling, debt management, credit repair, or debt negotiation services? If °Yes," complete Schedule D, Part IV X 9 10 Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent 11 If the organization's answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X endowments, or quasi-endowments? If "Yes,' complete Schedule D, Part V 10 X 11a X as applicable. a Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete Schedule D, Part VI b Did the organization report an amount for investments - other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If °Yes," complete Schedule D, Part VII c Did the organization report an amount for investments - program related in Part X, line 13 that is 5% or more of its total 11b assets reported in Part X, line 16? ff "Yes,' complete Schedule D, Part VM d Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in 11c Part X, line 16? if °Yes," complete Schedule D, Part IX X 11d e Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X f Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)? ff "Yes," complete Schedule D, Part X 12a Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," compiete Schedule D, Parts XI and XII b Was the organization included in consolidated, independent audited financial statements for the tax year? 13 X If °Yes,' and if the organization answered "No° to line 12a, then completing Schedule 0, Paris Xl and XII is optional Is the organization a school described in section 170(b)(1)(Mir If "Yes," complete Schedule E 14a Did the organization maintain an office, employees, or agents outside of the United States? b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, 11e X 11f X 12a X 12b 13 14a X 14b X X X investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts 1 and IV 15 Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any 16 Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to 17 Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and lle? If °Yes,' complete Schedule G, Part 1 Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 17 X 18 1c and 8a? If °Yes," complete Schedule G, Part 11 18 X foreign organization? If "Yes," complete Schedule F, Parts 11 and IV 16 or for foreign individuals? ff "Yes," complete Schedule F, Parts and IV 19 Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? if °Yes," 19 complete Schedule G, Part M 20a Did the organization operate one or more hospital facilities? ff "Yes," complete Schedule H 20a b If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this retum? 21 X 16 20b Did the organization report more than $5,000 of grants or other as,sistance to any domestic organization or domestic 'government on Part IX, column (A), line 1? If "Yes," complete Schedule L Parts I and II 832003 12-31-16 ..... „„ ....... 21 X Form 990 (2018) Form 990 (2018) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 F.404 Part 1V-I Checklist of Required Schedules (continued) Yes 22 Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on 23 Part IX, column (A), line 2? if "Yes, " complete Schedule Parts I and III Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization's current 22 X 23 X No and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J 24a Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If "Yes," answer lines 24b through 24d and complete X 24a Schedule K. If °No," go to line 25a b Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? 24b c Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds? 24c d Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year? 24d 2_5a Section 501(0(3), 501(cX4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? if "yes," complete Schedule L, Part b Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and 25a X 25b X 26 X that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ? if "Yes," complete Schedule L, Part I 26 Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? if °Yes," complete Schedule L, Part II 27 Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? if "Yes,' complete Schedule L, Part 27 Was the organization a party to a business transaction with one of the following parties (see Schedule Part N 28 instructions for applicable filing thresholds, conditions, and exceptions): a A current or former officer, director, trustee, or key employee? If 'Yes,' complete Schedule L, Part IV b A family member of a current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV 28a X X 28b c An entity of which a current or former officer, director, tnistee, or key employee (or a family member thereof) was an officer, 29 director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV 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 qualified conservation 31 Did the organization liquidate, terminate, or dissolve and cease operations? contributions? If "Yes,' complete Schedule M If "Yes," complete Schedule N, Part 28c X 29 X 30 X 31 X 32 X 33 X Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If °Yes,' complete 32 Schedule N, Part II 33 Did the organization own 100% of an entity disregarded as separate from the organization under Regulations 34 sections 301.7701-2 and 301.7701-3? If 'Yes,* complete Schedule R, Part I Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Pait or IV, and 35a X X 35b X 34 Part V, line 1 35a Did the organization have a controlled entity within the meaning of section 512(b)(13)? b 1( "Yes" to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity 36 within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, fine 2 Section 501(cX3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? 36 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 organization 38 and that is treated as a partnership. for federal income tax purposes? if "Yes," complete Schedule R, Part V/ Did the organization complete Schedule 0 and provide explanations in Schedule 0 for Part VI, lines llb and 19? X 37 Note. All Form 990 filers are required to complete Schedule 0 PifAr Part t V Statements Regarding Other IRS Filings and Tax Compliance 38 X Check if Schedule 0 contains a response or note to any line in this Part V Yes 1a a Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable Eta b Enter the number of Forms W-2G included in line la. Enter -0- if not applicable lb c Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? 832004 12-31-18 1176 0 1c I X I Form 990 (2018) 53-0116130 NATIONAL RIFLE ASSOCIATION OF AMERICA Part V I Statements Regarding Other IRS Filings and Tax Compliance (continued) Form 99012018) Page 5 Yes . 2a Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return If at least one is reported on line 2a, did the organization file all required federal employrnent tax retums? Note. If the sum of lines la and 2a is greater than 250, you may be required to e-ffie (see instructions) 3a Did the organization have unrelated business gross income of $1,000 or more during the year'? If "Yes," has it filed a Forrn 990-T for this year? If "No" to line 313, provide an explanation in Schedule 0 .„ 4a 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 country (such as a bank account, securities account, or other financial account)? I 2b X 3a X 3b X 4a X If "Yes," enter the name of the foreign country: See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), 5a X Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction? 5b X If "Yes" to line 5a or 5b, did the organization file Form 8E186-T? 5c 5a Was the organization a party to a prohibited tax shelter transaction at arty time during the tax year? 6a Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? 6a X 6b X If ''Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? Organizations that may receive deductible contributions under section 170(c). 7 a Did the Organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? If "Yes," did the organization notify the donor of the value of the goods or senrices provided? 7a 7b Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? 7c If "Yes," indicate the number of Forms 8282 filed during the year 7d I Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? 7e Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? 7f If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ff the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? a Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the 9 Sponsoring organizations maintaining donor advised funds. sponsoring organization have excess business holdings at any time during the year'? 7h 8 a Did the sponsoring organization make any taxable distributions under section 4966? 9a Did the sponsoring organization make a distribution to a donor, donor advisor, or related person? 9b Section 501(c)(7) organizations. Enter: 10 a Initiation fees and capital contributions included on Part VIII, line 12 Gross receipts, included on Forrn 990, Part VIII, line 12, for public use of club facilities 10a1 10b Section 501(c)(12) organizations. Enter: 11 a Gross income from members or shareholders 11a b Gross income from other sources Po not net amounts due or paid to other sources against amounts dueor received from them.) 11b 12a Section 4947(a)(1) non-exempt char-itable trusts. Is the organization filing Form 990 in lieu of Form .1041? b If "Yes," enter the amount of tax-exempt interest received or accrued during the year 13 12a I 12b Section 501(0(29) quafified nonprofit health insurance issuers. a Is the organization licensed to issue qualified health plans in more than one state? 13a Note. See the instructions for additional information the organization must report on Schedule O. b Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans c Enter the amount of reserves on hand 13b 13c 14a Did the organization receive any payments for indoor tanning services during the tax year? 14a b tf "Yes," has it filed a Form 720 to report these payments? if "No," provide an explanab'on in Schedule 0 15 Is the organization subject to the secticn 4960 tax on payment(s) of more than $1,000,000 in remuneration or 14b excess parachute payment(s) during the year? 15 X X If "Yes," see instructions and file Form 4720, Schedule N. 16 Is the organization an educational institution subject to the section 4968 excise tax on net investment income? 16 X If "Yes," complete Forrn 4720, Schedule O. Form 990 (2018) 892005 12-31-18 • NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 page6 Part VI - Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response Form 990 TO18) to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions, Check if Schedule 0 contains a response or note to any line in this Part vi Section A. Goveming Body and Management Yes la Enter the number of voting members of the goveming body at the end of the tax year la 76 lb 67 No If there are material differences in voting rights among members of the governing body, Or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O. b Enter the number of voting members included in line la, above, who are independent Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other 2 2 officer, director, trustee, or key employee? 3 X Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors, or trustees, or key employees to a management company or other person? 3 4 Did the organization make any significant changes to its goveming documents since the prior Form 990 was filed? 4 5 Did the organization become aware during the year of a significant diversion of the organization's assets? 5 6 Did the organization have members or stockholders? 6 X 7a X 7b X a The governing body? 8a b Each committee with authority to act on behalf of the governing body? 8b X X 7a Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? b Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body?8 Did the organization contemporaneously doCument the meetings held or written actions undertaken during the year by the following: Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the 9 organization's mailing address? _if "Yes._`' Di-civic:1e the names_andaddresses Sehedule 0 X 9 Section B. Policies (This SectionIf reatiesfs information aboutooficies not reaOired by the Internal Revenue Code.) Yes 1 10a 10a 1 10a Did the organization have local chapters, branches, or affiliates? No 1 X b If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? 10b 11a Has the organization provided a complete copy of this Form 990 to all members of its goveming body before filing the form? b Describe in Schedule 0 the process, if any, used by the organization to review this Form 990. 11a X 12a Did the organization have a written conflict of interest policy? If °No," go to line 13 b Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to Conflicts? 12a X X c Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe 12b . 12c 13 in Schedule 0 how this was done Did the organization have a written whistleblower policy? 14 Did the organization have a written document retention and destruction policy? 14 X X X 15 Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision? a The organization's CEO, Executive Director, or top management official 15a X b Other officers or key employees of the organization 15b X 13 If "Yes" to line 15a or 15b, describe the process in Schedule 0 (see instructions). 16a Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? 16a X b If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization's exempt status with respect to such arrangements? 16b Section C. Disclosure 17 18 , AZ , AR , CA, CO , CT , DC , FL , GA, HI , ID , IL List the states with which a copy of this Form 990 is required to be filed Section 6104 requires an organization to make its Forms 1023 (1024 or 1024-A if applicable), 990, and 990-T (Section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply. 19 I= Other (explain in Schedule 0) , I-1 Another's website X I Upon request Own website Describe in Schedule 0 whether (and if so, how) the organization made its goveming documents, conflict of interest policy, and financial statements available to the public during the tax year. 20 State the name, address, and telephone number of the person who possesses the organization's books and records CRAIG B. SPRAY, TREASURER - 703-267-1000 11250 WAPLES MILL RD, FAIRFAX, NA 22030 SEE SCHEDULE 0 FOR FULL LIST OF STATES 832038 12-31-18 110- Form 990 (2018) Form 990 (2018) NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page7 I Part VII Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors Check if Schedule 0 contains a response or note to any line in this Part \/11 Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization's tax year. • List all of the organization's current officers, directors, trustees (whether individuals or organizations), regardless of amount of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid. • List all of the organization's current key employees, if any. See instructions for definition of "key employee." • List the organization's five current highest compensated employees (other than an officer, director, trustee, or key employee) who received reportable 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 organization's former officers, key employees, and highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations. • List all of the organization's forrner 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 perscins in the following order: individua; trustees or directors; institutional trustees; officers; key employees; highest compensated employees; and former such persons. . . . . . . . . . . - omcer, director or trustee. i____I uneck mis DOX rr nenner me org_anization nor any relate() organization compensatea any current (B) (A) (C) (D) (E) Position Average. (do not check Name and Title Reportable Reportable more than one box, unless person is both an hours per compensation compensation officer and a director/trustee) week from from related (list any i the organizations hours for v.organization (W-2/1099-MISC) ;3 11F. related (VV-2/1099-MISC) a: 1 organizations ,, below -3 .5-. .E line) (1) RICHARD CHILDRESS 1ST VICE PRESIDENT (2) CAROLYN D. MEADOWS 2ND VICE PRESIDENT ( 3 ) JoE M. ALLBAUGH DIRECTOR (4) WILLIAM H. ALLEN DIRECTOR (ENDING 6/ 1/2018) (5) THOMAS P. ARVAS DIRECTOR ( 6 ) PAUL BABAZ DIRECTOR (STARTING 6/1/2018) (7) SCOTT L. BACH DIRECTOR (8) WILLIAM A. BACHENBERG DIRECToR ( 9 ) BOB BARR DIRECTOR (10) RONNIE G. BARRETT D IRECTOR ( 11 ) CLEL BAUDL ER DIRECTOR ( 12 ) J . KENNETH BLACKWELL DIRECTOR ( 13 ) MATT BLUNT D I FtECTOR ( 14 ) DAN Boum DIRECTOR ( 15 ) ROBERT K . BROWN DIRECTOR (16) PETE R. BRoWNELL DIRECTOR ( 17 ) DAvID BUTZ DIFtECTOR 832007 12-31-18 v I1 -t =E1 ,a,.• L.'- (9 Estimated amount of other compensation from the organization and related organizations :-.1B...?- 5 L--- r.., _s...E H__. Ne ...:, X, 10.00 1.00 X X X X - O. O. O. 0 . 0 . 0 . 0 . 0 . 0 . O. O. O. 0 . 0 . 0 . O. O. O. O. 0. O. 0. 0. 0. 0. O. O. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. O. O. O. 2,997. O. 0. 100,000. 0• 10.00 1 . 0 0 , 1.00 X, 1.00 -X - 1.00 X — 1.00 .. X , . 1.00 X 1.00 X -f 1.00 X 1.00 X — X - X - . 1.00 1.00 .- , 1.00 -X 1.00 X - 1.00 1.00 1.00 5.00 X -. X _ X_ _ . _ 0. Form 990 (2018) NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 (2018) 53-0116130 Page flaftri• I i• s•• •• • •• Ibecnon A. unicers, uirectors, irustees, ney tmployees, ana ttignest compensatea tmpioyees fconlInued1 (C) (A) (B) P) (E) (F) Position Average Name and title Reportable Reportable Estimated (do not check more than one hours per box, unless person is both an compensation compensation amount of officer and a director/trustee) week from from related other p: Oist any the organizations compensation hours for -,i organization (VV-2/1099-MISC) from the i '6 'A related (W-2/1099-MISC) organization .4, , s' organizations B 1' E. g and related Et o below g -e _ - ;;.organizations -'&' g - E B la g line) ...s _E - g - Erg" E cii ,`'' x iu u8_ (18) DEAN CAIN DIRECTOR (STARTING (19) 5/5/2018) 1.00 DIRECTOR (20) 0. X 0. 0. 0. X 0. 0. 0. 0. 0. 0. 0. 0. 0. X 0. 0. 0. X 0. 0. 0. 0. 0. X L CUSIDIAN 1.00 DIRECTOR (26) 0. 1.00 LARRY E. CRAIG JOHN 0. X DIRECTOR ( 25) X R. LEE ERMEY DIRECTOR (ENDING •-- 1.00 DAVID G. COY DIRECTOR (24) 0. 1.00 CHARLES L. COTTON DIRECTOR (23) 0. 1.00 ALLAN D. CORS DIRECTOR (22) 0. 1.00 PATRICIA A. CLARK DIRECTOR (21) X 1.00 TED W. CARTER 4/15/2018) • _ 1.00 X 1 b Sub-total 0. Ilo. 10. 102,997. 12,820,292. 12,923,289. c Total from continuation sheets to Part VII, Section A Ilii, , d Total (add lines lb and 1c) 2 Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable 0. 0. O. 756,013. O. 756,013. 1.22 compensation from the organization Yes 3 Did the organization list any former officer, director, or trustee, key employee, or highest compensated employee on line la? If "Yes,' comp/ete Schedule J for such individual For any individual listed on line 1a, is the slim of reportable compensation and other compensation from the organization 3 X 4 and related organizations greater than $150,000? If °Yes,' complete Schedule J for such individual Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services 4 X 5 5 X rendered to the organization? if °Yes_" complete Schedule J for such person Section B. Independent Contractors 1 No Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from me organization. rieport compensation tor me caienciar year enaing_wan or warm tne organization s tax year. (A) Name and business address (B) Description of services ACKERMAN MCQUEEN INC 'PUBLIC RELATIONS AND 1601 NW EXPRESSWAY, OKLAHOMA CITY, OK 73118 ADVERTISING MEMBERSHIP INFOCISION MANAGEMENT CORP 325 SPRINGSIDE DR, AKRON, OH 44333 PROCESSING AND _ CONTR BREWER ATTORNEYS AND COUNSELORS 1717 MAIN ST, SUITE 5900, DALLAS, TX 75201 LEGAL SERVICES MEMBERSHIP MARKETING PARTNERS LLC, 11250 FUNDRAISING PRINTING /AND MAILING WAPLES MILL TD, SUITE 310, FAIRFAX, VA VALTIM INC 1095 VENTURE DR, FOREST, VA 24551 FULFILLMENT CENTER 2 (C) Compensation 31,994,168. 25,727,854 . 13,832,060. 12,561,213. 8,836,104. Total number of independent contractors (including but not limited to those listed above) who received more than $100.000 of compensation from the organization 123 1.SEE PART VII, SECTION A CONTINUATION SHEETS 832008 12-31-18 Form 990 (2018) NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 53-0116130 ,!Part V111 AdaMinn A Affinare nirontnre Tre.e+cuac Kau PmrsInuanc .no4 Llitthithef nosmarscineftivarl rmsniast•es.r. (A) M) (C) M) (E) (9 Name and title Average hours per week (list any hours for related organizations below line) Position (check all that apply) Reportable compensation from the organization (W-2/1099-MISC) Reportable compensation from related organizations (W-2/1099-MISC) Estimated amount of other compensation from the organization and related organizations (27) EDIE P. FLEEMAN DIRECTOR CAROL FRAMPTON (28) DIRECTOR (29) JOEL FRIEDMAN DIRECTOR (30) SANDRA S. FROMAN DIRECTOR JULIE GOLOB (31) DIRECTOR (STARTING 5/5/2018) MARIA HEIL (32) DIRECTOR (33) GRAHAM HILL DIRECTOR STEVE HORNADY (34) DIRECTOR (ENDING 5/5/2018) SUSAN HOWARD (35) DIRECTOR CURTIS S. JENKINS (36) DIRECTOR (37) DAVID A. KEENE DIRECTOR (38) TOM KING DIRECTOR TIMOTHY KNIGHT (39) DIRECTOR HERBERT A. LANFORD JR. (40) DIRECTOR WILLES K. LEE (41) DIRECTOR CARRIE LIGHTFOOT (42) DIRECTOR (STARTING 5/5/2018) DUANE LIPTAK, JR (43) DIRECTOR (STARTING 5/5/2018) KARL A. MALONE (44) DIRECTOR SEAN MALONEY (45) DIRECTOR ROBERT E. MANSELL (46) DIRECTOR Total to Part VII, Section A, line 1c 892201 04-01-18 -21 43 at 1: E .g, 1 r, 3... Ei E. 1 — '-' `? 2 8 as 1 . — .„VT,, .6._ m ... z E T„ 8 .s 8 2 1.00 1.00 . X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0 . X _ 13,060. O. X 28,661. O. 0. X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0 . X 40,000. 0. 0. 0 . 0 . 1.00 5.00 5.00 . O. 1.00 1.00, 1.00 1.00 1.00 1.00 1.00 X 1.00 . 0 . . X 0 . 0 . 0 . _X 1.00 , X 1.00 0 . 0 . 0 . 0 . 0 . 0 . X 2,907. O. O. X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0 . X 0 . 0 . 0. 1.00 1.00 1.00 1.00 1.00 NATIONAL RIFLE ASSOCIATION OF AMERICA Fomi 990 . lei, [ • .-• - -.1 aecuon A. Name and title BILL MILLER (47) DIRECTOR (48) OWEN BUZ MILLS DIRECTOR CRAIG MORGAN (49) DIRECTOR (50) IL LING NEW DIRECTOR (STARTING 5/5/2018) (51) GROVER NORQUIST. DIRECTOR (ENDING 5/5/2018) (52) ROBERT A. NOSLER DIRECTOR JOHNNY NUGENT (53) DIRECTOR (54) TED NUGENT DIRECTOR (55) LANCE OLSON DIRECTOR (56) MELANIE PEPPER DIRECTOR JAMEs W. PoRTER /I (57) DIRECTOR (56) JAY PRINTZ DIRECTOR (59) TODD J. RATHNER DIRECTOR (60) KIM RHODE DIRECTOR (61) WAYNE ANTHONY ROSS DIRECTOR (62) CARL T. ROWAN, JR. DIRECTOR (631 DON SABA DIRECTOR (64) wILLIAM H. SATTERFIELD DIRECTOR (65) RONALD L. SCHMEITS DIRECTOR (66) ESTHER Q. SCHNEIDER DIRECTOR Total to Part VII Section A line lc 832201 04-01-18 53-0116130 %Juicers, ',vectors, t rustees, Rey cm_ployees, ana nignest Liompensarea cmployaes [continued (A) (E) g” (c) g4 Average hours per week (list any hours for related organizations below line) Position (check all that apply) Reportable compensation from the organization (W-2/1099-MISC) S r, i '5 . w at 2 V i ,g 2. t ''' N is m (F) Reportable compensation from related organizations (W2/1099-MISC) II E E - ., 2c -g ,e, t,-; -2 - f. E g V y s Estimated amount of other compensation from the organization and related organizations 1.00 X 0. 0. 0. 5,553._ O., O. 1.00 .X - . X - 0. 0. 0. X -_ . 0. 0. 0. -X 0. 0. 0. X 0. 0. 0. X 0.- 0. 0. 64,234. 0. O. 75,000. 0. O. 0. 0. 0. 0. 0. 0. X. O. O. O. X 0. 0. 0. X 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0 . 0 . 0. 1.00 1.00 - 1.00 1.00 1.00 1.00 X 5.00 _ X _ X - 1.00 1.00 X 1.00 1.00 , 1.00 1.00 X .. 1.00 X 1.00 - , X_ 1.00, X - 1.00 X 1.00 _X - , NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 I I- di& if_11,1 l Section A. (A) (B) (c) (D) (E) (F) Name and title Average hours per week (list any hours for related organizations below line) Position (check all that apply) Reportable compensation from the organization (W-2/1099-MISC) Reportable compensation from related organizations (W-2/1099-MISC) Estimated amount of other compensation from the organization (67)STEVEN C. SCHREINER DIRECTOR (68)TOM SELLECK DIRECTOR (ENDING 9/8/2018) JOHN C. SIGLER (69) DIRECTOR ( 70 ) LEROY SISCO DIRECTOR BART SKELTON (71) DIRECTOR STEPHANIE SPIKA (72) DIRECTOR ( 4 / 15 / 2 018 -5/5/2018) KRISTY TITUS (73) DIRECTOR (STARTING 5/5/2018) DWIGHT D. VAN HORN (74) DIRECTOR (76) HLA/NE E. WADE DIRECTOR (76) LINDA L. WALKER DIRECTOR (77)HOWARD J. WALTER DIRECTOR (78) HEIDI E. WASHINGTON DIRECTOR (79)ALLEN B. WEST DIRECTOR (80) ROBERT J. WOS DIRECToR (ENDING 6/5/2018) (01) DONALD E. YOUNG DIRECTOR (82) WAYNE LAPIERRE CEO AND EXECUTIVE VICE PRESIDENT (63) CHRIS W. COX EXECUTIVE DIRECTOR, NRAILA (84) WILSON H. PHILLIPS TREASURER (ENDING 9/13/2018) (86) JOSHUA L. POWELL CHIEF OF STAFF AND EXEC. DIR (86) CRAIG B. SPRAY TREASURER (FROM 9/13/2018) Total to Part VII. Section A. line lc 632201 04,01-18 53-0116130 Officers Directors Trustees, Key Employees, and Highest Compensated Employees kontinuec0 23 II Z ai 1 2 w g '!' i g g i- -, z .S. :5: 1.00 a and related . a 'A E .2 . .. organizations g r.., 1.- , F2 - P. - -L" _ a X 0. 0. 0. 0. 0. 0. 0 • 0 . 0 . 0. , 0. 0. 15,000. O. 0. X, 0. 0. 0. X 0. 0. 0. X 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0. 2,150,634. 0. 73,793. O. 107,350. . 1.00 X 1.00 _X - 1.00 5.00 _ ]C X . 1.00 1.00 1.00 1.00 X .. 1.00 X .- 1.00 X 1.00 -.. X 1.00 1.00 . X, ' X _ - _ 1.00 60.00 X 1.00_ _X 1.00, .X 1,285,318. 11.00_ _ X 900,537. O. 48,232. X 844,137. O. 75,832. X 596,958., O. 51,257. 49.00 29.00 40.00 , 39.00 11.00 _ NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 53-0116130 i• _!.• - _-,•• I ection A. urricers urrectors, r rustees, Rey employees ana rtignest uompensatea tmployees (A) Name and title (87)JOHN C. FRAZER SECRETARY AND GENERAL COUNSEL (88)JOSEPH P. DEBERGALIS, JR. EXEC DIR, GENERAL OPS (STARTING 12/3 (89)TYLER SCHROPP MANAGING DIRECTOR, ADVANCEMENT (90)TODD GRABLE EXECUTIVE DIRECTOR, MEMBERSHIP (91)DOUGLAS HAMLIN EXECUTIVE DIRECTOR, PUBLICATIONS (92)DAVID LEHMAN DEPUTY EXECUTIVE DIRECTOR, NRAILA (93)ERIC FROHARDT DIRECTOR, EDUCATION AND TRAINING (94)ROBERT X. WEAVER FMR EXE. DIR, GENERAL OPERATIONS (95)MICHEL MARCELLIN FMR MANAGING DIR, AFFINITY AND LICEN (96)OLIVER L. NORTH PRESIDENT (97)MARION P. HAMMER DIRECTOR 0:0 (c) (ix Average hours per week (list any hours for related organizations below line) Position (check all that apply) Reportable compensation from the organization (W-2/10994 ISC) i 8 M -•ei ,•3 e i r. 'il (E) Reportable compensation from related organizations (VV-2/1099-MISC) s E. ,.. E _E ,., 1 i I-, l' y; t ''g 1'3 t: Z • S' g 50.00 1.00 (F) Estimated amount of other compensation from the organization and related organizations X 413,076. O. 76,577. X 403,226. O. 57,802. X 733,145. O. 73,623. X 667,386. O. 66,154. X 581,321. O. 74,409. X 571,732. O. 31,121. X 525,745. O. 19,863. X 720,000. O. O. X 535,045. O. 0. 1,377,617. O. O. 270,000. O. 0. 50.00 50.00 1.00 , , 50.00 -50.00 (continue/1) , , 50.00 1.00, 40.00 0.00 0.00 20.00 1.00 X 5.00 X X . _ _ - Total to Part VII, Section A, line lc 832201 04-01-18 -- , 12,820,292. 756,013. NATIONAL RIFLE ASSOCIATION OF AMERICA Part VIII Statement of Revenue Form 990 (2018) _ 424 cc 2 „= CI — a. 1 a Federated campaigns j g ,-- 6A ,s E c -en o, lb c Fundraising events d Related organizations lc id e Government grants (contributions) le 112 „, li 0 g 8g h Total. Add lines la-1f C (B) Related or exempt function revenue (C) Unrelated business revenue ........, (D) Revenue excluded from tax under sections 512 - 514 13,959,442. All Other contributions, gifts, grants, and similar amoUntS not inCluded abOve :0 .w (A) Total revenue Page9 la b Membership dues f _ 53-0116130 94,640,284. 407,352. lf Noncash contributions included In lines 1a-11: $ O. ..............„..,.,.. 108,599,726. Business Code, 0 2 a MEMBER DUES ia mw 813410 813410 b PROGRAM FEES 170,391,374. 22,618,781. 170,391,374. 22,618,781. c Mc E 1/ fp cu A .... Eig o ,... c. e f All other program service revenue g Total. Add lines 2a-2f Ia. ,... 3 Investment income (including dividends, interest, and other similar amounts) Illob 4 Income from investment of tax-exempt bond proceeds 111. 5 Royafties II* (i) Real 6 a Gross rents b Less: rental expenses c Rental income or (loss) assets other than inventory 193,010,155. 1,193,705. 1,193,705. 16,532,433. 16,532,433. -846,393., -846,393. 998,336. 998,336. 1,107,043. 1,107,043. (ii) Personal 1,357,108. 2,203,501, _ -846,393, OP' d Net rental income or (loss) 7 a Gross amount from sales of , (i) Securities (ii) Other 9,261,323. b Less: cost or other basis and sales expenses . c Gain or (loss) .. 8,262,987. 998,336. d Net gain or (loss) CI> c llo• 8 a Gross income from fundraising events (not including $ of . i 0 cc contributions reported on line 1c). See Pan IV, fine 18 1,403,289. 296,246. c Net income or (loss) from fundraising events .... IP. t a b b Less: direct expenses 8 9 a Gross income from gaming activities. See Part IV, line 19 a b Less: direct expenses b o Net income or (loss) from gaming activities 1100 10 a Gross sales of inventory, less returns a 10 , 853 , 015. and allowances b b Less: cost of goods sold 4,389,150. _Illo• c Net income or (losstfrom sales of inventory Miscellaneous Revenue il a ADvERTIsING b OTHER UNRELATED BUSINESS ACTIVITY c cAFE SALES d All other revenue e Total. Add lines 11 alld 12 Total revenue. See instructions 832000 12-31-18 6,463,865. 7,513,384. -1,049,519. Business Code, _,.. 541800 900004 23,881,546. 1,111,167. 722320 900009 IP, 361,429. 137,852. 25,491,994. po. 352,550,864._ 23,881,546. 1,111,167. 361,429. 137,852. 200,661,391. 23,943,194. 19,346,553. Form 990 (2018) 53-0116130 NATIONAL RIFLE ASSOCIATION OF AMERICA Form 990 (2018 I Part IX I Sta)lement of Functional Expenses Page 1 0 Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (Al. ....I ____„I _ ________ _ _____..._ _ __ • (A) Total expenses Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 101, of Part VIII. 1 A. , (c) (B) Program service expenses Management and general expenses - (D) Fundraising expenses Grants and other assistance to domestic organizations ... and domestic governments. See Part IV, line 21 13,328. 3.3,328. 62,333. 62,333. 7,673,480. 2,458,981. Grants and other assistanc.e to domestic 2 individuals. See Part IV, line 22 3 Grants and other assistance to foreign organizations, foreign govemrnents, and foreign individuals. See Part IV, lines 15 and 16 4 Benefits paid to or for members 6 Compensation of current officers, directors, trustees, and key employees 4,792,957. 421,542. 720,000. 720,000. 40,314,676. 25,980,846. 11,606,692. 2,727,138. Compensation not included above, to disqualified 6 persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) 7 Other salaries and wages 8 Pension plan accruals and contributions (include • 7,988,421. 4,538,230. 2,630,035. section 401(k) and 403(b) employer contributions) Other employee benefits 9 io Payroll taxes ti Fees for services (non-employees): . 4,512,549. 2,878,218. 1,668,010. 2,921,394. 1,345,012. 779,474. 554,478. 315,000. 182,551. a Management 25,064,761. 164,730. 618,525. b Legal • c Accounting d Lobbying e Professional fundraising services. See Part IV, line 17 g Other. (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Sch 0 ) Advertising and promotion 13 Office expenses 14 Information technology 15 Royalties Occupancy 17 Travel Payments of travel or entertainment expenses for any federal, state, or local public officials 19 Conferences, conventions, and meetings 20 Interest 17,858,262. 17,858,262._ 3,115,133. 4,912,313. 1,936,953. 8,472,207., 1,067,454. 6,123,416. 869,499. 2,348,791. 8,076,852. 1,645,869. 5,848,020. 876,110. 2,228,832. 769,759. 4,065,900. 1,772,834. 2,900,998. 1,772,834. 1,164,902. 11,381,850. , 21 Payments to affiliates 22 Depreciation, depletion, and amortization 23 Insurance 24 Other expenses. Itemize expenses not covered above. (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule 0.) ...... a ADD ' L MEMBER COMMUNICAT b ADD'', TRAINING AND COMM c ADD ' L PRINTING AND PUBL d ADDIL ILA 'LEGISLATIVE P e All other expenses Total functional expenses. Add lines 1 through 24e 25 26 7,798,658. 197,342. 50,197,599. 38,815,749. 6,668,186. 3,553,053. 11,707,133. 6,794,820. 16 18 7,798,658. 3.97,342. f Investment management fees 12 8,633,178. 16,431,583. 164,730. 618,525. . _ 62,702,161. 41,126,865. 21,575,296. 34,628,656. 34,628,656. 25,296,137. 25,296,137. 10,600,121. 10 / 600,121. 11,861,928. 6,816,302. 1,910,554. 3,135,072: 55,275,317.,250,904,765. 56,278,967. 48,091,585. Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Cheek here 110 1 832010 12-31-18 I it following SOP 98-2 (ASC 958-720) Form 990 (2018) Form 990 (2018) Part X I Balance Sheet NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 11 .- — g4 (A) Beginning of year 1 End of year 1 Cash - non-interest-bearing 17,764,563. 1,184,593. 66,861,150. 2 Savings and temporary cash investments 3 Pledges and grants receivable, net 4 Accounts receivable, net 5 Loans and other receivables from current and former officers, directors, 2 3 4 23,937,821. 841,562. 70,154,574. trustees, key employees, and highest compensated employees. Complete 5 Past II of Schedule L 6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instr). Complete Part II of Sch L $ e 1 4 7 8 Notes and loans receivable, net 9 Prepaid expenses and deferred 'charges 6 3,000,000. 13,639,054. 3,277,662. Inventories for sale or use 7 8 9 3,000,000. 10,632,177. 3,179,694. 10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D ...... ... 0) o E = .o m '...1 10a lob 79,426,001. 46,716,970. 12 Investments - other securities. See Part IV, line 11 4,475,160. tac 47,415,094. 1i 646,822. 12 13 Investments - program-related. See Part IV, line 11 13 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 b Less: accumulated depreciation 11 Investments - publicly traded securities 32,709,031. 44,066,394. 871,077. 14 7,861,583. 15 7,819,750. 196,125,681. 16 197,212,080. 90,339,532. w 84,837,717. ,_,, 18 Grants payable 19 Deferred revenue 20 Tax-exempt bond liabilities 20 21 Escrow or custodial account liability. Complete Part IV of Schedule D 21 22 Loans and other payables to current and former officers, directors, trustees, 31,402,766. 18 19 46,580,520. key employees, highest compensated employees, and disqualified persons. 22 Complete Part II of Schedule L 23 Secured mortgages and notes payable to unrelated third parties 24 Unsecured notes and loans paYable to unrelated third parties 25 Other liabilities (including federal income tax, payables to related third 47,121,100. 23 43,138,412. 24 parties, and other liabilities not included on lines 17-24). Complete Part X of 2,312,080., 171,175,478. Schedule D 26 Total liabilities. Add lines 17 through 25 Organizations that follow SFAS 117 (ASC 958), check here ip. ri-iand 25 26 6,623,905. 181,180,554. complete lines 27 through 29, and lines 33 and 34. 1 27 Unrestricted net assets as 28 Temporarily restricted net assets fu m -31,779,579. 11,398,818. 45,330,964. 27 29 -0. 29 Permanently restricted net assets i .2 30 Capital stock or trust principal, or current funds 30 31 Paid-in or capital surplus, or land, building, or equipment fund 31 32 Retained eamings, endowment, accumulated income, or other funds 33 Total net assets or fund balances 34 Total liabilities and net assets/fund balances ... = I,. o is z 29 -36,276,779. 5,268,615. 47,039,690. Organizations that do not follow SFAS 117 (ASC 958), check here 01.1-1 and complete lines 30 through 34. 832011 12-31-18 32 _ 24,950,203. 196,125,681. 33 34 16,031,526. 197,212,080. Form 990 (2018) NATIONAL RIFLE- ASSOCIATION OF AMERICA Form 990 (2018) 53-0116130 pati02 Pdrt Xl" Reconciliation of Net Assets Check if Schedule 0 contains a response or note to any line in this Part XI 352,550,864. 355,275,317. - 72±1,453. 24,950,203. -5,029,267. 1 Total revenue (must equal Part VIII, column (A), line 12) 1 2 Total expenses (must equal Part IX, column (A), line 25) 2 3 Revenue less expenses. Subtract line 2 from line 1 3 4 Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) 4 5 Net unrealized gains (losses) on investments 8 Donated services and use of facilities 6 7 Investment expenses 7 8 Prior period adjustments 8 9 Other changes in net assets or fund balances (explain in Schedule 0) 9 - 1,164,957. 10 16,031,526. 10 -- 5 Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B)) I Part_XII Financial Statements and Reporting Check if Schedule 0 contains a response or note to any line in this Part XII 1 Accounting method used to prepare the Form 990: Yes El Cash I X1 Accrual r-iOther a No If the organization changed its method of accounting from a prior year or checked "Other," explain in Schedule O. 2a Were the organization's financial statements compiled or reviewed by an independent accountant? 2a If "Yes," check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both: El Separate basis piConsolidated basis LJ Both consolidated and separate basis b Were the organization's financial statements audited by an independent accountant? 2b X 2c X If "Yes," check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both: r--1 Separate basis El Consolidated basis LI Both consolidated and separate basis c lf "Yes" to line 2a or 2b, does the organization have a committee that assumes responsibifity for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? If the organization ;hanged either its oversight process or selection process during the tax year, explain in Schedule O. 3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A•133? b If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule 0 and describe any Steps taken to undergo such audits 3a X 3b Form SSO (2018) 832012 12-31-18 Political Campaign and Lobbying Activities SCHEDULEC OMB No. 1545-0047 2018 (Form 990 or 990-EZ) For Organizations Exempt From Income Tax Under section 501(c) and section 527 Department of the Treasury Internal Revenue Service * Complete the organization is described below. * Attach to Form 990 or Form 990-EZ. Open to Public Inspection po, Go to www.irs.gov/Form990 for instructions and the latest Information. If the organization answered "Yes," on Form 990, Part IV, line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then • Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C. • Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B. • Section 527 organizations: Complete Part I-A only. If the organization answered "Yes," on Form 990, Part IV, line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then • Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)); Complete Part II-A. Do not complete Part II-B. • Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A. If the organization answered "Yes," on Form 990, Part IV, line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then • Section 501(c)(4), (5), or (6) organizations: Complete Part III. Name of organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Part I-A I Complete if the organization is exempt under section 501(c) or is a section 5 7 organization. 1 Provide a description of the organization's direct and indirect political campaign activities in Part IV. 2 Political campaign activity expenditures 4,319,458. 10,000. OP' $ 3 Volunteer hours for political campaign activities IPart I-B I Complete if the organization is exempt under section 501(0(3). i Enter the amount of any excise tax incurred by the organization under section 4955 $ 2 Enter the amount of any excise tax incurred by organization managers under section 4955 $ Yes E1No E] Yes No 3 If the organization incurred a section 4955 tax, did it file Form 4720 for this year? 4a Was a correction made? b If "Yes" describe in Part IV. IPart I-CI Complete if the organization is exempt under section 501(a, except section 501(c)(3). 1 Enter the amount directly expended by the filing organization for section 527 exempt function activities No' $ 785,548. $ 0. $ 785,548. 2 Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities 3 Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b 4 Did the filing organization file Form 1120-POL for this year? El Yes I INo 5 Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing organization made payments. For each organization listed, enter the amount paid from the filing organization's funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). tf additional space is needed, provide information in Part IV. (a) Name (b) Address REPUBLICAN ATTORNEYS ,^7ASHINGTON , DC GENERAL ASSOCI 20006 REPUBLICAN GOVERNORS WASHINGTON , DC ,20006 ASSOCIATION COLORADO REPUBLICAN GREENWOOD VILLAGE, CO 80111 COMMITTEE NRA POLITICAL VICTORY FUND (SEE PAFAIRFAX, VA 22030 (c) EIN (d) Amount paid from (e) Amount of political contributions received and filing organization's promptly and directly funds. If none, enter -0-. delivered to a separate political organization. If none, enter .0, 46-4501717 85,000. O. 11-3655877 135,000. O. 84-0690399 120. O. 52-1083020 O. 3,078. For Paperwoiic Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. LHA 832041 11-08-18 SEE PART IV FOR CONTINUATION Schedule C (Form 990 or 990-EZ) 2018 Schedule C Form 990 or ggp-EZ) 2018 NATIONAL IPart RIFLE ASSOCIATION OF AMERICA 5 3 - 011613 0 Page 2 11-A. Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)). A Check 00- I if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures). B Check 10. I if the Min. or. anization checked box A and "limited control" . rovisions a..I . (a) Filing organization's totals Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.) (b) Affiliated group totals la Total lobbying expenditures to influence public opinion (grass roots lobbying) b Total lobbying expenditures to influence a legislative body (direct lobbying) c Total lobbying expenditures (add lines 1a and 1b) d Other exempt purpose expenditures e Total exempt purpose expenditures (add lines lc and 1d) f Lobbying nontaxable amount. Enter the amount from the followin table in both columns. If the amount on line 1e. column (a) or (b) is: The lobbying nontaxable amount is: Not over $500,000 20% of the arnount on line le. Over $500,000 but not over $1,000,000 $100,000 plus 15% of the excess over $500,000. Over $1,000,000 but not over $1.500.000 $175,000 plus 10% of the excess over $1,000,000. Over $1.500.000 but not over $17,000,000 $225,000 plus 5% of the excess over $1,500,000. Over $17,000,000 St000_000. g Grassroots nontaxable amount (enter 25% of line 1f) h Subtract line 1g from line la. if zero or less, enter -0i Subtract line 1f from line lc. If zero or less, enter -0j If there is an amount other than zero on either line lh or line did the organization file Form 4720 riYes reporting section 4911 tax for this year? [71 No 4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through a) Lobbying Expenditures During 4-Year Averaging Period Calendar year (or fiscal year beginning in) (a) 2015 (b) 2016 (c) 2017 (d) 2018 (e) Total 2a Lobbying nontaxable amount b Lobbying ceiling amount (150% of line 2a, column(e)) , c Total lobbying expenditures d Grassroots nontaxable arnount - e Grassroots ceiling amount (150% of line 2d, column (e)) f Grassroots lobbying expenditures Schedule C (Form 990 or 990-EZ) 2018 832042 11-08-18 Schedule C (Form 990 or 990-EZ) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 5 3 - 0 1 1 6 1 3 0 . Pne 3 Part_11-E1 Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)). (a) For each "Yes," response on lines la through li below, provide in Part lV a detailed description of the lobbying activity. During the year, did the filing organization attempt to influence foreign, national, state, or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of: a Volunteers? b Paid staff or management (include compensation in expenses reported on lines lc through li)? c Media advertisements? d Mailings to members, legislators, or the public? e Publications, or published or broadcast statements? f Grants to other organizations for lobbying purposes? g Direct contact with legislators, their staffs, govemment officials, or a legislative body? h Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? i Other activities? j Total. Add lines lc through li 2a. Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? b If "Yes," enter the amount of any tax incurred under section 4912 c If "Yes," enter the amount of any tax incurred by organization managers under section 4912 d If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? Yes 04 No Amount 1 ... ID.4.4 III_ A i f.assmesirdeAfe. if +Mae. esiros.v.i-sftfirt. ic. A...v....tr.. siva/J*1.w ift•se.44.1.••• &At fo.11A1 e.ekwiia... Gn4 /...11C1 VAG. IIIJ% UV I %WM, *CliLILI1 I in., I Itrit01, ...a. ......—&:..... 501(c)(6). Yes 1 2 3 Were substantially all (90% or more) dues received nondeductible by members? Did the organization make only in-house lobbying expenditures of $2,000 or less? Did the organization agree to carry over lobbying and political campaign activity expenditures from the prior year? 1 1 No X X 2 3 , X X III-B Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section Part )art III-B 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No," OR (b) Part III-A, line 3, is answered "Yes." Dues, assessments and similar amounts from members Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid). a Current year b Carryover from last year c Total 3 Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues 4 If notices were sent and the amount on line 2c exceeds the amount on fine 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? 5 Taxable amount of lobbying and political expenditures Isee instructionsi Pad IV Supplemental Information 1 2 1 2a 2c 3 4 5 Provide the descriptions required for Part I-A, line 1; Part I-B, line 4; Part I-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions); and Part II-B, line 1. Also, complete this part for any additional information. PART I-A, LINE 1: SUPPORT FOR FUNDRAISING AND ADMINISTRATIVE EXPENSES OF A SEPARATE SEGREGATED FUND IS INDUSTRY STANDARD FOR NONPROFIT ORGANIZATIONS LIKE THE NRA, AS ALLOWED BY LAW. IN 2018, THE NRA PAID $4,319,459 FUNDRAISING AND ADMINISTRATIVE EXPENSES FOR THE SEPARATE SEGREGATED FUND , NRA POLITICAL VICTORY FUND , AS ALLOWED BY LAW. THE NRA ENGAGED IN Schedule C.(Form 990 or 990-EZ) 2018 832043 11-08-18 ScheduleC.(Form990or990-EZ)2018 Part 1V NATIONAL RIFLE ASSOCIATION OF AMERICA Supplemental Information (continued) 53-0116130 Page4 ACTIVITIES IN SUPPORT OF ITS MISSION, WHICH INCLUDES PROTECTING AND DEFENDING THE CONSTITUTION OF THE UNITED STATES, ESPECIALLY WITH REFERENCE TO THE INALIENABLE RIGHT OF INDIVIDUAL AMERICAN CITIZEN GUARANTEED BY SUCH CONSTITUTION TO ACQUIRE, POSSESS, COLLECT, EXHIBIT, TRANSPORT; CARRY, TRANSFER OWNERSHIP OF, AND ENJOY THE RIGHT TO USE ARMS, IN ORDER THAT THE PEOPLE MAY ALWAYS BE IN A POSITION TO EXERCISE THEIR LEGITIMATE INDIVIDUAL RIGHTS OF SELF PRESERVATION AND DEFENSE OF FAMILY, PERSON, AND PROPERTY. .IN PURSUIT OF THESE GOALS OF THE ASSOCIATION, THE NRA SPENT FUNDS DIRECTLY AND INDIRECTLY ON POLITICAL ACTIVITIES, WHICH WERE NOT THE PRIMARY ACTIVITIES OF THE ORGANIZATION. THE NRA IS ORGANIZED PRIMARILY TO PROMOTE SOCIAL WELFARE AND CAN ALSO ENGAGE IN POLITICAL ACTIVITIES ON BEHALF OF OR IN OPPOSITION TO CANDIDATES FOR POLITICAL OFFICE, AS ALLOWED BY LAW. BY ANY MEASURE, THE PERCENTAGE OF FUNDS SPENT BY THE NRA ON POLITICAL ACTIVATES IS MODEST IN COMPARISON TO THE BUDGET DEVOTED TO THE PRIMARY ACTIVITIES OF THE NRA. FOR INSTANCE, ALL EXPENDITURES NOTED ON PART I-A AND I-C OF SCHEDULE C AMOUNTED TO ABOUT 1% OF THE NRA'S TOTAL EXPENSES IN 2018, AS APPLIED TO TOTAL EXPENSES REPORTED ON'FORM 990, PART IX, LINE 25. REPORTERS. AND OTHER READERS ARE ALSO KINDLY REMINDED THAT THE SEPARATE SEGREGATED FUND IS A SEPARATE ENTITY FOR TAX PURPOSES. PART I-C CONTINUATION FOR INCOMPLETE NAME/ADDRESS INFORMATION: REPUBLICAN ATTORNEYS GENERAL ASSOCIATION 1747 PENNSYLVANIA AVE NW STE 800 WASHINGTON, DC 20006 REPUBLICAN GOVERNORS ASSOCIATION 1747 PENNSYLVANIA AVE NW STE 250 WASHINGTON, DC 20006 Schedule C (Form 990 or 990-EZ) 2018 832044 11-08-18 Schedule C (Form 990 or 990•EZ) 2018 r•Ppft Iv I NATIONAL RIFLE ASSOCIATION OF AMERICA Supplemental Information (continued) 53-0116130 Page 4 COLORADO REPUBLICAN COMMITTEE 59505 S WILLOW DR GREENWOOD VILLAGE, CO 80111 NRA POLITICAL VICTORY FUND (SEE PARTS I-A AND IV) 1.1250 WAPLES.MILL RD FAIRFAX, VA 22030 PART I-C LINE 4 THIS INFORMATION NOTE REGARDS THE NRA'S TAXES. THE NRA SEPARATELY FILES FORM 1120-POL, WHICH IS NOT SUBJECT TO PUBLIC DISCLOSURE. THE FOLLOWING INFORMATION ABOUT TAXES PAID WITH THE NRA'S FORMS 1120-POL IS SHARED HERE ON A VOLUNTARY BASIS AS A SERVICE TO READERS AND TO DEMONSTRATE IN GOOD FAITH THAT THE ORGANIZATION IS A TAXPAYER IN GOOD STANDING. 527(F) PROXY TAX IS PAID ON THE LESSER OF NET INVESTMENT INCOME OR CERTAIN POLITICAL EXPENDITURES AS DEFINED BY THE FEDERAL TAX CODE, SUCH AS WHEN CERTAIN POLITICAL COMMUNICATIONS EXPRESSLY ADVOCATE THE ELECTION OR DEFEAT OF A CANDIDATE AND ARE MADE BY THE NRA ITSELF RATHER THAN BY THE NRA'S SEPARATE SEGREGATED FUND. THE AMOUNT OF 527 (F) PROXY TAX PAID WITH THE NRA'S 2018 FORM 1120-POL WAS $164,944. HISTORICALLY, NO 527(F) PROXY TAX WAS REQUIRED TO BE PAID FOR 2017; THE AMOUNT OF 527(F) PROXY TAX PAID WITH THE NRA'S 2016 FORM 1120-POL WAS $20,835; THE AMOUNT PAID WITH THE NRA'S 2015 FORM 1120-POL WAS $21,817. AS ANOTHER POLITE REMINDER TO REPORTERS AND OTHER READERS, FORM 990 INFORMATION IS NOT NECESSARILY EXPECTED TO TIE TO FEDERAL ELECTION COMMISSION (FEC) REPORTING DUE TO DIFFERENT DEFINITIONS AND EXCLUSIONS IN THE DIFFERENT REGULATORY REGIMES. PART I-C LINE 5 THE NRA POLITICAL VICTORY FUND, AND AN INDEPENDENT POLITICAL ACTION COMMITTEE (PAC) OF THE NRA, DIRECTLY RECEIVED CONTRIBUTIONS DURING 2018 OF Schedule C (Form 990 or 990-EZ) 2018 832044 11-08-18 Schedule C Form SW or 9991E2) 201a NATIONAL RIFLE ASSOCIATION OF AMERICA rPartIlV_ _ Supplemental Information (continued) 53-0116130 Page 4 $12,938,624. Schedule C (Form 990 or 990-EZ) 2018 832044 11-08-18 SCHEDULE D (Form 990) Department ot the Treasury Internal Revenue Service Supplemental Financial Statements 2018 Ore Complete if the organization answered "Yes" on Form 990, Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b. Oe Attach to Form 990. Go to www.irs.gov/Form990 for instructions and the latest information. Name of the organization Part I OMB No. 1545-0047 -Open tc:TPUbli6 Inspection Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6. (a) Donor advised funds (b) Funds and other accounts Total number at end of year Aggregate value of contributions to (during year) .) Aggregate value of 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 advised funds are the organization's property, subject to the organization's exclusive legal control? 6 Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? Part II I Conservation Easements. Complete if the organization answered "Yes" on Form 990, Part IV, line 7. 1 2 3 4 5 El Yes No ED Yes No Purpose(s) of conservation easements held by the organization (check all that apply). Preservation of land for public use (e.g., recreation or education) n Preservation of a historically important land area Protection of natural habitat El Preservation of a certified historic structure I-1 Preservation of open space 2 Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year. Held at the End of the Tax Year a Total number of conservation easements 2a b Total acreage restricted by conservation easements 2b c Number of conservation easements on a certified historic structure included in (a) 2c d Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic stnicture listed in the National Register 2d 3 Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the tax year 011. 4 Number of states where property subject to conservation easement is located le 5 Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? 17 No ri Yes 6 Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year 1 El ri OP' 7 8 9 Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year $ Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? CI Yes In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and balance sheet, and include, if applicable, the text of the footnote to the organization's financial statements that describes the organization's accounting for conservation easements. El No Part III Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets. Complete if the organization answered "Yes" on Form 990, Part IV, line 8. 1a If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items. b tf the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items: (i) Revenue included on Form 990, Part VIII, line 1 $ (ii) Assets included in Form 990, Part X $ 2 If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the following amounts required to be reported under SFAS 116 (ASC 958) relating to these items: a Revenue included on Form 990, Part VIII, line 1 $ b Assets included in Form 990, Part X $ LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990. Schedule D (Form 990) 2018 832051 10-28-18 Schedule D (Form 990) 2018 I Part III I Organizations NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 2 Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued Using the organization's acquisition, accession, and other records, check any of the following that are a significant use of its collection items 3 (check all that apply): b 17 Public exhibition X Scholarly research c El Preservation for future generations a 4 5 d e El Loan or exchange programs I I Other Provide a description of the organization's collections and explain how they further the organization's exempt purpose in Part XIII. During the year, did the organization solicit or receive donations of art, historical treasures, or other similar assets ED Yes to be sold to raise funds rather than to be maintained as part of the organization's collection? "Paii IV] T1No Escrow and Custodial Arrangernents. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21. la Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not included 11 Yes on Form 990, Part X? El No b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount c Beginning balance lc d Additions during the year ld le lf e Distributions during the year f Ending balance 2a Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability'? ElYes O No b If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been _provided on Part XIII 1`12.5rt V I Endowment Funds. c,ompletel (a) Current year la Beginning of year balance b Contributions c Net investment earnings, gains, and losses (b) Prior year (c) Two years baCk (d) Three years back (e) Four years back 20,556,237. 1,603,940. -886,512._ 19,520,783, 1,371,910. 625,818. 17,657,500. 1,482,504. 1,204,551. 16,738,628. 1,988,178. -266,970. 15,706,221. 1,346,379. 366,395. 940,564. 49,737. 20,283,364. 916,400., 35,574. 20,566,537. 786,344., 37,728. 19,520,483. 772,538, 29,798. 17,657,500. 642,077. 38,290. 16,738,628. d Grants or scholarships e Other expenditures for facilities and programs f Administrative expenses . g End of year balance Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as: 2 a Board designated or quasi•endowment 1110. b Permanent endowment 110' 100.00 C Temporarily restricted endowment Illro The percentages on lines 2a, 2b, and 2c should equal 100%. 3a Are there endowment funds not in the possession of the organization that are held and administered for the organization by: Yes 3_401 ' 0i) related organizations 3a(ii) X b If "Yes" on line 3a(ii), are the related organizations listed as required on Schedule R? 4 3h No X (i) unrelated organizations X • Describe in Part XIII the intended uses of the organization's endowment funds. Part VI Land, Buildings, and Equipment. Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10. Description of property 1a Land (a) Cost or other basis (investment) (b) Cost or other (c) Accumulated basis (other) depreciation 5,380,792. 55,410,753. b Buildings c Leasehold improvements 18,634,456. d Equipment e Other Total. Add lines la through le. (Column Idl must ewe! Form 990 Part)Lcolumn Mt line Wci _ (d) Book value 5,380,792. 32,259,301. 23,151,452. 14,457,669. 4,176,787. jo. 32,709,031. Schedule D (Form 990) 2018 B32052 10-29-18 NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule D (Form 990) 2018 I Part VII Investments - Other Securities. 53-0116130 Pak0 Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12. (b) Book value I (a) Description of security or category (including name of security) I (c) Method of valuation: Cost or end-of-year marlcet value (1) Financial derivatives (2) Closely-held equity interests (3) Other (A) la la la IR .41-0 Total. (Col. (b) must equal Forrn 990, Part X, col. (9) line 12.) Ir. Part VIII I Investments - Program Related. Complete if the organization answered "Yes" on Form 990, Part IV, line 11c. See Form 990, Part X. line 13. (b) Book value (a) Description of investment (c) Method of valuation: Cost or end-of-year market value (1) (2) (3) (4) (5) (6) (7) — 1) (9) Total. (Col. (b) must equal Form 990 Part X col. (B) line 13.30. I Part IX I Other Assets. Complete if the organization answered "Yes" on Form 990, Part IV, line 11d. See Form 990, Part X, line 15. (a) Description (b) Book value L2.) L3.1 (41 i51 161 (9) Total. (Column gal must ague Form 90 PailX. col. !aline t5.i IPart X I Other Liabilities. Complete if the organization answered "Yes" on Form 990, Part IV, line 11e or 11f. See Forrn 990, Part X, line 25. (a) Description of lability (b) Book value 1. Federal income taxes i2.1 NOTE PAYABLE - NRA FOUNDATION CAPITAL LEASE ARRANGEMENT 1.41 DERIVATIVE INSTRUMENT MARKET VALUATION l(6.1 ACCRUED SALES AND USE TAXES cn COUPON LIABILITY 5,00,000. 1,037,889. 429,922. 149,20. 6,874. (9) Total. (Column fbl must eauel Form 990. Part X cal. lEit line 25J 6,623,905. 2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 tASC 740). Check here if the text of the footnote has been provided in Part XIII LX Schedule D (Form 990) 2018 832053 10-28.18 Schedule D (Form 990) 2018 NATIONAL - RIFLE ASSOCIATION OF AMERICA 53-0116130 Rape 4 I Part XI I Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered "Yes" on Form 990, Part IV, line 12a. 1 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 (losses) on investments b Donated services and use of facilities c Recoveries of prior year grants d Other (Describe in Part XIII.) e Add lines 2a through 2d 3 Subtract line 2e from line 1 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 b Other Pescribe in Part XIII.) c Add lines 4a and 4b 5 Total revenue. Add lines 3 and 4c. (This must ecirial FOrlil 990, Part L line' 12.1 2a I —5,029,267. 2h 2c 2d —1,164,957. 1 352,886,958. 2e 3 -q ,194,224. 359,081,182. — 6,530,318. :31 4 4c — 6,530/ 318. 5 352,550,864. I Part XII I Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered "Yes" on Form 990, Part IV, line 12a. 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 . _ b Prior year adjustments c Other losses d Other (Describe in Part XIII.) 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: a Investment expenses not included on Form 99D, Part VIII, line 7b b Other (Describe in Part XIII.) c Add lines 4a and 4b 5 Total expenses. Add lines 3 and 4c. !This must eaual Form 990. Part L tine 18.1 I Part XIIII Supplemental Information. • 1 361,805,635. 2e 3 6 592,651. 355,212,984. 2a 2b 2c I 2d 2d 6,592,651. 4a 4b 62,333. 4c 5 62,333. 355,275,317. Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines lb and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional inforrnation. PART III, LINE 4: THIS RESPONSE DESCRIBES THE MUSEUM COLLECTIONS WHICH ARE HELD BY THE NRA'S RELATED ORGANIZATIONS AND CURATED BY NRA EMPLOYEES. THE NRA MUSEUMS PROMOTE GUN COLLECTING AND PRESERVATION OF HISTORY THOUGH FIREARMS. THE NRA MUSEUMS INCLUDE THE NATIONAL FIREARMS MUSEUM IN FAIRFAX, VIRGINIA: THE FRANK BROWNELL MUSEUM OF THE SOUTHWEST IN RATON, NEW MEXICO; AND THE NRA NATIONAL SPORTING ARMS MUSEUM AT BASS PRO SHOPS IN SPRINGFIELD, MISSOURI. TO MAKE THE NRA MUSEUMS THE FINEST POSSIBLE RESOURCE FOR THE PUBLIC, THE NRA AND ITS AFFILIATED CHARITIES RELY ON GENEROUS SUPPORTERS TO BUILD THE EXHIBITION AND RESEARCH COLLECTIONS THROUGH COLLECTIONS OF HISTORICALLY SIGNIFICANT FOREARMS. PLEASE VISIT NRAMUSEUMS.ORG FOR CURRENT INFORMATION ON THE MUSEUM GALLERIES. 832054 10-25-18 'Schedule D (Form 990) 2018 Schedule D (Form 990. 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA Part.X.Iii Supplemental Information 53-0116130 Pages (continued) LINE 5 THIS RESPONSE EXPLAINS WHY THE NRA MAY SOLICIT OR RECEIVE ASSETS THAT SOME DONORS INTEND TO BE SOLD RATHER THAN MAINTAINED PERMANENTLY. WHEN DONORS INTEND THEIR GIFTS OF FIREARMS TO BE SOLD RATHER THEN HELD FOR EXHIBITION OR RESEARCH IN.THE COLLECTIONS OF THE NRA MUSEUM, THE NRA PARTNERS WITH AUCTION HOUSES. DONORS MAY CHOOSE TO HAVE GUNS SOLD FOR VARIOUS REASONS, SUCH AS TO SUPPORT CURRENT PROGRAM SERVICES OR TO FUND A CHARITABLE GIFT ANNUITY OR CHARITABLE TRUST. WITH ONE OF THE NRA'S AFFILIATED CHARITIES. THE PHILANTHROPIC INTENT OF EACH DONOR DETERMINES HOW A GIFT IS HANDLED. PART V, LINE 4: THIS RESPONSE DESCRIBES THE INTENDED USES OF THE.ORGANIZATION'S ENDOWMENT FUNDS. THE ENDOWMENT FUNDS BENEFIT A DIVERSE RANGE OF PHILANTHROPIC INTERESTS, INCLUDING TRAINING IN MARKSMANSHIP, NATIONAL SHOOTING CHAMPIONSHIPS, WOMEN'S LEADERSHIP, HUNTERS'LEADERSHIP, RECREATIONAL SHOOTING, LAW ENFORCEMENT, NRA MUSEUMS, AND THE NATIONAL ENDOWMENT FOR THE PROTECTION OF THE SECOND AMENDMENT. PART X, LINE 2: THIS RESPONSE PROVIDES THE TEXT OF THE FOOTNOTE TO THE ORGANIZATION'S FINANCIAL STATEMENTS IN ACCORDANCE WITH FASB ASC 740. MANAGEMENT EVALUATED THE NRA'S TAX POSITIONS AND CONCLUDED THAT THE NRA HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. GENERALLY, THE NRA IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL AUTHORITIES FOR YEARS BEFORE 2015, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOKBACK PERIOD. Schedule D (Form 990) 2018 632055 1049-18 NATIONAL RIFLE ASSOCIATION OF AMERICA I Supplemental Information '(continuadl Schedule DSForm 990) 2018 Part 53-0116130 Page 5 PART XI, LINE 2D - OTHER ADJUSTMENTS: AGENCY TRANSACTIONS BETWEEN THE NRA AND NRA FOUNDATION UNREALIZED-GAIN ON DERIVATIVE INSTRUMENT TOTAL TO SCHEDULE D, PART XI, LINE 2D -1,910,739. 745,782. -1,164,957. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -4,389,150. RENTAL EXPENSE -2,203,501. INTEREST ON ENDOWMENT GRANTS ' TOTAL TO SCHEDULE D, PART XI, LINE 4B 62,333. -6,530,318. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD, _ 4,389,150. RENTAL EXPENSE 2,203,501. TOTAL TO SCHEDULE D, PART XII, LINE 2D 6,592,651. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST ON ENDOWMENT GRANTS 62,333. PART X LINE 1(4) THIS INFORMATIONAL NOTE PROVIDES CONTEXT FOR THE DERIVATIVE FINANCIALS INSTRUMENT DISCLOSED AS A LIABILITY. INTEREST RATE SWAPS ARE ENTERED INTO TO MANAGE INTEREST RATE RISKS ASSOCIATED WITH THE NRA'S BORROWING, AND INTEREST RATE SWAPS ARE ACCOUNTED FOR IN ACCORDANCE WITH FASB ASC 815. THE NRA'S INTEREST RATE SWAP IS RECORDED IN THE BALANCE SHEET AT FAIR VALUE, WITH FAIR VALUE CHANGES RECORDED AS UNREALIZED GAIN OR LOSS ON DERIVATIVE INSTRUMENT. AS OF MARCH 2019, THE NRA NO LONGER HAS Schedule D (Form 990) 2018 832055 10-28-18 Schedule D Form 990)2018 art NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 5 Supplemental Information konfirtued AN INTEREST RATE SWAP ARRANGEMENT. LINE 1(6) THIS INFORMATIONAL NOTE REGARDS THE NRA'S TAXES. THE NRA IS A SUBSTANTIAL TAXPAYER AND REMAINS IN GOOD STANDING WITH THE TAX AUTHORITIES. STATE AND LOCAL TAXES PAID BY THE NRA INCLUDE SALES AND USE TAXES, REAL ESTATE AND PERSONAL PROPERTY TAXES, AMUSEMENT TAXES, AND STATE UNEMPLOYMENT TAXES. THE LIABILITY SHOWN ON SCHEDULE D, PART X FOR ACCRUED SALES AND USE TAXES RELATES TO TIMING AND IS A SMALL FRACTION OF TAXES PAID DURING THE YEAR. ADDITIONAL NOTES REGARDING THE NRA'S TAXES ARE SHARED ON SCHEDULE C REGARDING 527(F) PROXY TAXES AND ON SCHEDULE 0 REGRADING UNRELATED BUSINESS INCOME TAXES. THE NRA CHOOSES TO SHARE THIS ADDITIONAL INFORMATION ABOUT THE NRA'S TOTAL TAXES TO DEMONSTRATE IN GOOD FAITH THAT THE ORGANIZATION IS A TAXPAYER IN GOOD STANDING. Schedule D (Form 990)2018 832055 10-29-18 Statement of Activities Outside the United States SCHEDULE F (Form 990) OMB No. 1545-0047 2018 Complete if the organization answered "Yes" on Form 990, Part IV, line 14b, 15, or 16. Attach to Form 990. JO- Go to www.irs.gov/Form990 for instructions and the latest information. Department of the Treasury Internal Revenue Service Name of the organization Open to Public Inspection Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Paoli I General Information on ActivitiesOutsidethe United States. Completeiftheorganizationanswered"Yes"on Form 990, PartIV, line 14b. For grantmakers. Does the organization maintain records to substantiate the amount of its grants and other assistance, 1 the grantees' eligibility for the grants or assistance, and the selection criteria used to award the grants or assistance? 2 _ Yes El No For grantmakers. Describe in Part V the organization's procedures for monitoring the use of its grants and other assistance outside the United States. 4 ri . _ .. _. . . . . . . Activities per !legion. line roilowing ran 1, one ..1 tame can oe au_plicateo ir aciamonal space is neeaea.) (a) Region (b) Number of (c) Number of (d) Activities conducted in the region en1P1°Yeess offices (by type) (such as, fundraising, pro.agents, and gram services, investments, grants to in the region independent contractors recipients located in the region) in the reoion (e) If activity listed in (d) is a program service, describe specific type of service(s) in the region (f) Total expenditures. for and investments in the region CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES pal/CATIONS 4,000, EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES pUBLICATIONS 5,000. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FUNDRAISING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES MIDDLE EAST AND NORTH.AFRICA 0 0 FUNDRAISING 5,909. NORTH AMERICA 0 0 FUNDRAISING 6,000. NORTH AMERICA 0 0 PROGRAM SERVICEs 0 0 0 0 0 0 3,021,000. 9,000. EUROPE ( INCLUDING 3 a Subtotal PUBLICATIONS 21,000. PUBLICATIONS 10,000. 3,081,000. b Total from continuation sheets to Part I . 56,000. c Totals (add lines 3a and 3b) LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990. 832071 10-31-18 3,137,000. Schedule F (Form NO) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule F (Forrn 990) I Part I Continuation of Activities per Region. (b) Number of (c) Number of offices employees or in the region agents in region (a) Region NORTH AMERICA (d) Activities conducted in region (by type) (i.e., fundraising, program services, grants to recipients located in the region) • PROGRAM SERVICES SOUTH AMERICA 0 SOUTH AMERICA 0 , SUB-SAHARAN AFRICA 53-0116130 Page 1 (Schedule F (Form 990), Pad I, line 3) (e) If activity listed in (d) is a program service, describe specific type of service(s) in region NRA OUTDOORS (f) Total expenditures for region 37,000. 0 FUNDRAISING 0 PROGRAM SERVICES PUBLICATIONS 8,000. PROGRAM SERVICES pRA OUTDOORS 7,000. 4,000. - _ ' - - Totals 832181 04-01-18 li,' 56,000. 8 4-1X-04 ELMS siaz (ow tuloA) A ainPeLPS 4 sappue JO suoRezpetwo Jew Jaqwnu reloiJaw3 Jew! Aoueremnbe (c)(o)1.09 uogoas e pepocud seq lasunoo JO ealueJ6 eqi uopon JOI JO `skil eqi Aq Aq sapeqo se peziu800ei we ;mu °now pens!! suoileztuefuo zualdtoal Jaquinu mot Jew3 Wwaxe-xel se pez!u600eu 'AJlunoo u6laJol. g . (Jew Tes!eidde 'Avid `mooq) uoRenien io powini 0) eouemsse qseouou j[o uo!tduosaa (id Aue eouels!sse luel6 qseo jo luauiesJnqslla qseo qseouou lunowv (a) lo Jauuen (8) 4o pinourv (6) euil 'AI lied '066 tiliod ue useA„ peuemsue uollezeJeBio a abed OVE9TIO-£5 WeJ6 lo asodind (13) uo!Ball (o) (alqe3Hdde I!) NI3 pue uopezaJefiJo lo euieN (e) Limas apuo sth (q) 4 loepeeu eoeds leuomppe paleogdnp aq ueo '000'S$ ueqi. WOW pimp= oqm we!dioeu eleidwoo *salle4S Pal!ufl et8 aP!stn() seqqua JO suoqezpie6.0 01 eouels!sslf n180 pue swam I II lied VOIIIHNV dO NOLIVIDOSSV nail! rIVNOLINN 8 LOZ.U:166 wiod) 3 elnim-PS Schedule F (Form 990)2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Pace 3. Part III Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16. Part III can be duplicated if additional space is needed. (a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of cash grant , (e) Manner of cash disbursement (f) Amount of noncash assistance (g) Description of noncash assistance (h) Method of valuation (book, FMV, appraisal, other) . . • Schedule F (Form 990) 2018 832073 NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule F (Form 990) 2018 tPart 1M1 Foreign Forms 1 53-0116130 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,' the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Forrn 926) 2 Page 4 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return To Report Transactions Wrth Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Retum of Foreign Trust VVith a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990) El Yes El No • 1E1 Yes [ I No Did the organization have an ownership interest in a foreign corporation during the tax year? If °yes," the organization may be required to file Form 5471, Information Return of U.S. Persons VVith Respect To Certain Foreign Corporations (see Instructions for Form 5471) 4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes,' the organization may be required to file F01177 8621, Infonnation Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund (see Instructions for Form 8621) 5 El Yes IT No 1-7 Yes I X No Did the organization have an ownership interest in a foreign partnership during the tax year? If °yes,. the organization may be required to file Form 8865, Retum of U.S. Persons With Respect to Certain Foreign Partnerships (see Instructions for Form 8865) El Yes El No Did the organization have any operations in or related to any boycotting countries during the tax year? If °Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990) El Yes ID No Schedule F (Form 990)2018 832074 10-31-18 NATIONAL Schedule F (Forrn 99012018 ,Palt V rSupplemental Information RIFLE ASSOCIATION, OF AMERICA 53-0116130 Page 5 Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions. PART I, LINE 3: THE NRA'S OFFSHORE INVESTMENTS FOLLOW INDUSTRY STANDARD BEST PRACTICES IN RISK MANAGEMENT FOR NATIONAL NONPROFIT INSTITUTIONAL INVESTORS. ALTERNATIVE INVESTMENTS REDUCE OVERALL PORTFOLIO RISK BY REDUCING VOLATILITY AND IMPROVING DIVERSIFICATION. THE NRA MAINTAINS SEVERAL INVESTMENT ACCOUNTS THAT ARE MULTI-STRATEGY FUNDS OF FUNDS. INCOME FROM PASSIVE INVESTMENTS, WHEN APPROPRIATELY STRUCTURED, IS EXCLUDED FROM UNRELATED BUSINESS INCOME BY LAW. THIS TYPE OF INVESTMENT POSTURE IS COMMONLY ACCEPTED IN THE U.S. EXEMPT ORGANIZATION INDUSTRY. 100% OF THE AMOUNT IS THE TOTAL BOOK VALUE OF INVESTMENTS FOR THAT REGION. SCHEDULE F, PART I, LINE 3 THIS DISCLOSURE REFERS TO FOREIGN FUNDRAISING. 100% OF THE AMOUNT IS THE CASH VALUE OF EXPENDITURES MADE BY THE NRA FOR NECESSARY TRAVEL, ACCOMMODATIONS, AND RELATED EXPENSES. THIS DISCLOSURE OF PROGRAM SERVICES REFERS TO NRA PUBLICATIONS DIVISION'S FOREIGN TRAVEL EXPENSES RELATING TO GATHERING MATERIALS FOR NRA MAGAZINES. 100% OF THE AMOUNT IS THE CASH VALUE OF EXPENDITURES MADE BY THE NRA FOR NECESSARY TRAVEL, ACCOMMODATIONS, AND RELATED EXPENSES. 0320/5 10-31-18 Schedule F (Form 990) 2018 SCHEDUUEG (Form 990 or 990-EZ) Supplemental Information Regarding Fundraising or Gaming Activities OMSNo.1545-0047 arm _ Complete if the organization answered °Yes" on Form 990, Part IV, line 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. Ork Attach to Form 990 or Form 990-EZ. Department of the Treasury Internal Revenue Service Open to Public Inspection Go to wvvw.irs.gov/Form990 for instructions and the latest information. Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA P at T 53-0116130 Fundraising Activities. Complete if the organization answered "Yes" on Form 990, Part IV, line 17. Form 990-E7 filers are not required to complete this part. 1 Indicate whether the organization raised funds through any of the following activities. Check all that apply. a Mail solicitations Solicitation of non-government grants e b IXI intermit and email solicitations c d El Phone solicitations fl Solicitation of government grants 9 Special fundraising events In-person solicitations 2 a Did the organization have a written or oral agreement with any individual (including officers, directors, trustees, or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services? I X I Yes b If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is to be No compensated at least $5,000 by the organization. (i) Name and address of individual or entity (fundraiser) (il) Activity (10Am to r reotauinntepdabidy) fundraiser listed in col. (i) (iii) Did . fundraiser (iv) Gross receipts 1,...srody from activity or control ot contributions? ALLEGIANCE DBA MEMBERSHIP ADVISORS - 11250 NAPLES MILL INFOCISION MANAGEMENT CORP 325 SPRINGSIDE DR, AKRON, OH 501C SOLUTIONS - 2530 MERIDIAN PKWY STE 300, SHARPE GROUP - 855 RIDGE LAKE BLVD STE 300, MEMPHIS, TN WS CONSULTING - 221 HOMEPORT DR, GRASONVILLE, MD 21638 MCKENNA & ASSOCIATES - 2000 CALRENDON BLVD STE 200, KEY & ASSOCIATES - 12176 CHANCERY STATION CIR, RESTON, COMMONWEALTH GROUP PARTNERS 1579 MONROE SR STE F-341, Yes FUNDRAISING CONSULTANT (vi) Amount paid to (or retained by) organization No X 42,370,456. 1,070,000. 41,300,456. PAID SOLICITOR X 9,521,431. 4,840,658. 4,680,773. FUNDRAISING CONSULTANT X O. 616,000. O. FUNDRAISING CONSULTANT X O. 480,000. O. X O. 360,000. O. FUNDRAISING CONSULTANT X O. 300,000. FUNDRAISING CONSULTANT X O. 72,000. FUNDRAISING CONSULTANT X 0. 60,000. O. 51,891,887. 7,798,658. 45,981,229. FUNDRAISING CONSULTANT - - 10, Total 3 List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing. AL,AK,AZ,AR,CA,CO,CT,FL,DC,GA,HI,IL,KS,KY,LA,MA,MD_,ME,MI,MN,MO,MS,NC,ND,NH NJ,NM,NY,OK,OH,OR,PA,RI,SC,TN,UT,VA,WA,WI,WV LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. SEE PART IV FOR CONTINUATIONS 832081 10-03-18 Schedule G (Form 990 or 990-EZ) 2018 Schedule G (Form 990 or 990-EZ) 2018 'Part IV NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 2 Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000. (a) Event #1 (b) Event #2 (c) Other events NONE NRAILA (event type) 1 Gross receipts (event type) (total number) (d) Total events (add col. (a) through col. (c)) 1,403,289. 1,4289. L403,289. 1,403,289. 54,440. 54,440. 154,712. 154,712. 38,776. 48,318. 38,776. 48,318. 296,246. 1,107,043. CC 2 Less: Contributions 3 Gross income (line 1 minus line 2) 4 Cash prizes Direct ExCenses 5 Noncash prizes 6 Rent/facility costs 7 Food and beverages 8 Entertainment 9 Other direct expenses 10 Dinact expense summary. Add lines 4 through 9 in column (d) 11 Net income summary. Subtract line 10 from line 3. column (d) Gaming. Complete if the organization answered "Yes" on Form 990, Part IV, line 19, or reported more than Rad III $15,000 on Form 990-EZ, line 6a. (a) Bingo co CC co co 0 a (b) Pull tabs/instant bingo/progressive binge (c) Other gaming (d) Total gaming (add col. (a) through col. (c)) 1 Gross revenue 2 Cash prizes 3 Noncash prizes 4 Rent/facility costs 5 Other direct expenses Yes 1-1 No 6 Volunteer labor 7 Direct expense summary. Add lines 2 through 5 in column (d) I Yes L_1 No = Yes 1=7,1 No 8 Net gamine income summary. Subtract line 7 from line 1, column (d) 9 Enter the state(s) in which the organization conducts gaming activities: a Is the organization licensed to conduct gaming activities in each of these states? I I Yes 1-1 No = Yes F-1 No b If "No," explain: 10a Were any of the organization's gaming licenses revoked, suspended, or terminated during the tax year? b If "Yes," explain: 832082 10-03-18 Schedule G (Form 990 or 990-EZ) 2018 Schedule G (Form 990 or 990-E2) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 11 Does the organization conduct gaming activities with nonmembers? Page 3 I IYes 17:1 No 12 Is the organization a grantor, beneficiary or trustee of a trust, or a member of a partnership or other entity formed to administer charitable gaming? [7=1 Yes [1:1 No 13 Indicate the percentage of gaming activity conducted in: a The organization's facility 13a I b An outside facility 13b 14 Enter the name and address of the person who prepares the organization's gaming/special events books and records: Name Address PP 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 101. $ of gaming revenue retained by the third party El Yes El No and the amount Ow $ c ff "Yes," enter name and address of the third party: Name it* Address OP 16 Gaining manager information: Name Gaming manager compensation P. $ Description of services provided 1110- ElDirector/officer 17 1-1 Employee 11 Independent contractor Mandatory distributions: a Is the organization required under state law to make charitable distributions from the gaming proceeds to retain the state gaming license? Yes El No b Enter the amount of distributions required under state law to be distributed to other exempt organizations or spent in the organization's own exempt activities during the tax year OP $ Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, part IV 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions. SCHEDULE G, PART I, LINE 2B, LIST OF TEN HIGHEST PAID FUNDRAISERS: (I) NAME OF FUNDRAISER: ALLEGIANCE DBA MEMBERSHIP ADVISORS (I) ADDRESS OF FUNDRAISER: 11250 WAPLES MILL RD, FAIRFAX, VA 22030 (I) NAME OF FUNDRAISER: INFOCISION MANAGEMENT CORP (I) ADDRESS OF FUNDRAISER: 325 SPRINGSIDE DR, AKRON, OH 44333 (k) NAME OF FUNDRAISER: 501C SOLUTIONS 832083 10-03-18 Schedule G (Form 990 or 990-EZ) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule G Form 95.10 or 99011-E4 Part IV I Supplemental Information 53-0116130 Page 4 (continuedy (I) ADDRESS OF FUNDRAISER: 2530 MSRIDIAN PKWY STE 300, RESEARCH TRIANGLE PARK , NC 27713 (I) NAME OF FUNDRAISER: SHARPE GROUP (I) ADDRESS OF FUNDRAISER: 855 RIDGE LAKE BLVD STE 300, MEMPHIS, TN 38120 (I) NAME OF FUNDRAISER: MCKENNA & ASSOCIATES (I) ADDRESS OF FUNDRAISER: 2000 CALRENDON BLVD STE 200, ARLINGTON, VA 22201 (I) NAME OF FUNDRAISER: KEY & ASSOCIATES (I) ADDRESS OF FUNDRAISER: 12176 CHANCERY STATION CIR, RESTON, VA 20190 (I) NAME OF FUNDRAISER: COMMONWEALTH GROUP PARTNERS (I) ADDRESS OF FUNDRAISER: 1579 MONROE SR STE F-341, ATLANTA, GA 30324 PART I_LINE 2B(2) THIS SUPPLEMENTAL INFORMATION NOTES THE DISTINCTION BETWEEN 990 CORE FORM PART VIII SECTION B LINE 1 AND SCHEDULE G PART I LINE 2B(2) FOR THE FILING ORGANIZATION'S VENDOR INFOCISION MANAGEMENT CORP. THE VENDOR INFOCISION PROVIDED SERVICES TO THE FILING ORGANIZATION FOR BOTH MEMBERSHIPS AND CONTRIBUTIONS SOLICITATIONS, AS SHOWN ON 990 CORE FORM PART AS VIII A PAID SECTION B LINE 1. SCHEDULE G IS SPECIFIC TO THE VENDOR'S WORK SOLICITOR PROVIDING PROFESSIONAL FUNDRAISING SERVICES. THEREFORE, THE SCHEDULE G DISCLOSURE EXCLUDES THE MEMBERSHIP PROCESSING SERVICES. Schedule G (Form 990 or 990-EZ) 832084 04-01-18 Grants and Other Assistance to Organizations, Governments, and Individuals in the United States SCHEDULE I (Form 990) OMBNa1545-00,17 2018 Complete if the organization answered "Yes" on Form 990, Part IV, line 21 or 22. Open toPublic , _ Inspection PP Attach to Form 99Cl. Department of the Treasury Internal Revenue Service Ow Go to www.irs.gov/Form990 for the latest information. Name of the organization Part I r Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 General Information on Grants and Assistance 1 Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for Me grants or assistance, and the selection criteria used to award the grants or assistance? 2 Describe in Part IV the organization's procedures for monitoring the use of gmnt funds in the United States. M Yes 0 No Part II I Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient mat receivea more man 4.., uuu. ran ii can oe ouplicateo 1 (a) Name and address of organization or govemment FOR WOMEN LEGISLATORS — 910 16TH ST NW — WASHINGTON, DC 20006 (b) EIN IT aocntionai space is neeciea. (c) IRC section (if applicable) (d) Amount of cash grant (e) Amount of non.cash assistance (f) Method of valuation (book FMV, appraisal, ' other) (g) Description of noncash assistance (h) Purpose of grant or assistance NATIONAL FOUNDATION 52-1480785 501(C)t3) 13,328. 2 Enter total number of section 501(c)(3) and govemment organizations listed in the line 1 table 3 Enter total number of other organizations listed in the line 1 table LHA For Paperwork Reduction Act Notice, see the Instructions for For - rn 990. 832101 11-02-18 0. UNDERGRADUATE COLLEGE SCHOLARSHIPS 1 . 0. PI" Schedule I (Form 990) (2018) NATIONAL RIFLE ASSOCIATION OF AMERICA Schedule I (Forrn 990) (2018) Part III Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22. Part III can be duplicated if additional space is needed. 53-0116130 Facie 2 i (b) Number of recipients (a) Type of grant or assistance 20 NRA JEANNE E BRAY MEMORIAL SCHOLARSHIP AWARDS (d) Amount of non(c) Amount of cash grant • cash assistance 62,333. (e) Method of valuation (book, FMV, appraisal, other) (f) Description of noncash assistance 'O. . - Part IV Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information. PART I, LINE 2: PART I LINE 2 THE NATIONAL FOUNDATION FOR WOMEN LEGISLATORS PARTNERS WITH THE NATIONAL RIFLE ASSOCIATION FOR THE ANNUAL NFWL/NRA BILL OF RIGHTS ESSAY SCHOLARSHIP CONTEST FOR FEMALE HIGH SCHOOL JUNIORS AND SENIORS. THE NRA ACTIVELY ASSISTS NATIONAL FOUNDATION OF WOMEN LEGISLATORS IN THE SELECTION AND ADMINISTRATION OF NFWL SCHOLARSHIPS FOR COLLEGE. NFWL SCHOLARSHIP APPLICATIONS ARE ASSESSED ON THE ELEMENTS OF HISTORICAL RESEARCH, INSIGHT AND PERSPECTIVE, DEMONSTRATED UNDERSTANDING OF THE AMERICAN CONSTITUTION, INSPIRATIONAL QUALITY, AND MEANINGFUL PERSONAL CONNECTION. SCHOLARSHIP 832102 11-02-18 Schedule I (Form 990)(2018) Schedule I (Form 990) NATIONAL RIFLE ASSOCIATION OF AMERICA 1,',PartiVA: Supplemental Information 53-0116130 Page 2 AWARDS ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION. TART III LINE 1 THE NRA JEANNE E. BRAY MEMORIAL SCHOLARSHIP AWARDS PROGRAM IS NAMED IN HONOR AND RECOGNITION OF THE GROUNDBREAKING POLICE OFFICER JEANNE E. BRAY, A SHOOTING CHAMPION AND PAST MEMBER OF THE NRA BOARD OF DIRECTORS. JEANNE E. BRAY WAS THE FIRST FEMALE DETECTIVE ON BURGLARY SQUAD, WHICH HAS EVOLVED INTO TODAY'S MODERN SWAT TEAMS. SHE WAS THE FIRST FEMALE POLICE OFFICER TO EARN THE NRA POLICE MARKSMANSHIP. "DISTINGUISHED" BAR, AND SHE WON THE NATIONAL WOMEN'S POLICE PISTOL COMBAT CHAMPIONSHIP FIVE TIMES FROM 1962 TO 1967. THE PROGRAM OFFERS SCHOLARSHIPS OF UP TO 2,500 PER SEMESTER, UP TO $5,000 PER YEAR FOR A MAXIMUM OF FOUR YEARS, TO DEPENDENT CHILDREN OF ANY PUBLIC LAW ENFORCEMENT OFFICER KILLED IN THE LINE OF DUTY WHO WAS AN NRA MEMBER AT THE TIME OF DEATH, AND TO DEPENDENT CHILDREN OF ANY CURRENT OR RETIRED LAW ENFORCEMENT OFFICERS WHO ARE LIVING AND HAVE CURRENT NRA MEMBERSHIP. THE MEMBERSHIP RESTRICTION IS PERMITTED BY LAW BECAUSE THE NRA JEANNE E. BRAY MEMORIAL SCHOLARSHIP AWARDS PROGRAM IS A 501(C)(4) PROGRAM. SCHOLARSHIP AWARDS ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTION. B32291 04-01-18 Schedule I (Form 990) Compensation Information SCHEDULE J (Form 990) OMB No. 1545-0047 For certain Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees Complete if the organization answered "Yes" on Form 990, Part IV, line 23. *Attach to Form 990. Ow Go to www.irs.gov/Form990 for instructions and the latest information. Department of the Treasury Internal Revenue Service 2018 Open to Public Inspection Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA Part I 53-0116130 Questions Regarding Compensation Yes 1a Check the appropriate box(es) if the organization provided any of the following to or for a person listed on Farm 990, Part VII, Section A, line la. Complete Part to provide any relevant information regarding these items. First-class or charter travel 1 X Housing allowance or residenc,e for personal use I X I Travel for companions ET Payments for business use of personal residence Prl Tax indemnification and gross-up payments InDiscretionary spending account I X I Heafth or social club dues or initiation fees 11Personal services (such as maid, chauffeur, chef) b tf any of the boxes on line la are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part Ill to explain 2 lb X 4a 4b X Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all directors, trustees, and officers, including the CEO/Executive Director, regarding the items checked on line la? 3 Indicate which, if any, of the following the filing organization used to establish the compensation of the organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III. I X I Compensation committee I-1Written employment contract n Independent compensation consultant XI Compensation survey or study 1-1Form 990 of other organizations 4 • Approval by the board or compensation committee During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization: a Receive a severance payrnent or change-of-control payment? b Participate in, or receive payment from, a supplemental nonqualified retirement plan? X c Participate in, or receive payment from, an equity-based compensation arrangement? If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III. Only section 501(cX3), 501(cX4), and 501(c)(29) organizations must complete lines 5-9. 5 For persons listed on Form 990, Part VII, Section A, line la, did the organization pay or accrue any compensation contingent on the revenues of: a The organization? b Any related organization? Sa 5b tf "Yes" on Erie 5a or 5b, describe in Part 6 For persons listed on Form 990, Part VII, Section A, line la, did the organization pay or accrue any compensation contingent on the net earnings of: a The organization? b Any related organization? If "Yes" on line 6a or 6b, describe in Part III. 7 For persons listed on Form 990, Part VII, Section A, line la, did the organization provide any nonfixed payments not described on lines 5 and 6? If "Yes," describe in Part III 8 Were any amounts reported on Form 990, Part VII, paid or accrued pursuant to a contract that was subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe in Part III 9 If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in _ Regulations section 53.4958-6(c)? 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Inspection Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA Excess Benefit Transactions 1 53-0116130 (section 501(c)(3), section 501(c)(4), and 501(c)(29) organizations only). Complete if the organization answered "Yes' on Form 990, Part IV, line 25a or 25b. or Form 990-EZ, Part V, line 40b. (b) Relationship between disqualified (a) Name of disqualified person (c) Description of transaction person and organization (d) Corrected? No Yes , 2 Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958 3 Enter the amount of tax, if any, on line 2, above, reimbursed by the organization $ 110' $ I Part If Loans to andtor riom Interested, Persons. Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a or Form 990, Part IV, line 26; or if the organization (a) Name of interested person (b) Relationship with organization (d) Loan to or (c) Purpose of loan from the organization? (e) Original principal amount To From _ _ _ . (f) Balance due (9) in (II) Approved (i) Written b y board or default? Committee? agreement? Yes No Yes No Yes No . _ , Total - .. Fart fa Lirants or Assistance benefiting interestea versons. ili" $ Complete if the organization answered "Yes" on Form 990, Part IV, line 27. (a) Name of interested person (c) Arnc Arnount of I (b)(b) Relationship Relationshipbetween between assistance interested person and the organization LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 892191 10-25-18 (d) Type of assistance (e) Purpose of assistance Schedule L (Form 990 or 990-EZ) 2018 ScheduleL(Form990or990-EZ)2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page2 PartIV Business Transactions Involving Interested Persons. Complete if the organization answered "Yes" on Form 990, Part IV. line 28a, 28b, or 28c. (a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction o (e rg ) an Si irlogn?sf revenues'? Yes SEE PART V TOM SELLECK JIM POWELL ADVER. PHOTOGRAP SEE PART V 476 , 0 0 0 . SEE PART V 11, 513 . SEE PART V No X X I Part V J Supplemental Information. Provide additional information for res,00nses to questions on Schedule L (see instnictions). SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: JIM POWELL ADVER.PHOTOGRAPHY SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: TOM SELLECK (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER (D) DESCRIPTION OF TRANSACTION: THE NRA PURCHASED A GROUP OF COLLECTIBLE FIREARMS THAT ORIGINATED FROM THE COLLECTION OF THEN-BOARD MEMBER TOM SELLECK FOR $476,000. THE NRA INTENDS TO RESELL THE FIREARMS OR OTHERWISE USE THEM IN NRA FUNDRAISING EFFORTS. BOARD MEMBER LANCE OLSON,A LICENSED FIREARMS DEALER WHO PROVIDED .CONSULTING SERVICES TO THE NRA ON GUN COLLECTOR OUTREACH,ASSISTED IN THE TRANSACTION. (A) NAME OF PERSON: JIM POWELL ADVERTISING PHOTOGRAPHY (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: OWNER IS AN OFFICER'S RELATIVE (D) DESCRIPTION OF TRANSACTION: THE NRA PURCHASED JIM POWELL ADVERTISING PHOTOGRAPY SERVICES FOR NRA COMPETITIONS EVENTS. THE OWNER OF THE PHOTOGRAPHY SERVICES COMPANY, JIM POWELL, IS THE FATHER OF NRA Schedule L (Form 990 or 990-EZ) 2018 832132 10-25-18 NATIONAL RIFLE ASSOCIATION OF AMERICA Part V Supplemental Information Schedule L Torm 990 or 990-EZ) 53-0116130 Page 2 Complete this part to provide additional information for responses to questions on Schedule L (see instructions): OFFICER JOSH POWELL. 832461 04-01-18 Schedule L (Form 990 or 990-EZ) SCHEDULE M (Form 990) Department of the Treasury Internal Revenue Service Name of the organization Noncash Contributions OMB No. 1545-0047 2018 * Complete if the organizations answered nYes" on Form 990, Part IV, lines 29 or 30. * Attach to Form 91)(1. Open to Public Inspection * Go to www.irs.gov/Form990 for instructions and the latest information. Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA -Part I I Types of Property (a) (b) (c) Number of Noncash contribution Check if applicable contributions or - amounts reported on items contributed Form 990, Part VIII, line lg 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 53-0116130 (d) Method of determining noncash contribution amounts Art - Works of art Art - Historical treasures Art - Fractional interests Books and publications Clothing and household goods Cars and other vehicles Boats and planes Intellectual property •X 11,600 407,352..FMV Securities - Publicly traded Securities - Closely held stock Securities - Partnership, LLC, or trust interests Securities - Miscellaneous Qualified conservation contribution Historic structures Qualified conservation contribution - Other Real estate • Residential Real estate - Commercial Real estate • Other Collectibles Food inventory Drugs and medical supplies Taxidermy Historical artifacts Scientific specimens Archeological artifacts ) Other IIIP ( ( ) Other * ) Other * ( ( ) Other * Number of Forrns 8283 received by the organization during the tax year for contributions for vvhich the organization completed Form 8283, Part IV, Donee Acknowledgement 29 Yes 30a During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? b If "Yes," describe the arrangement in Part II. 31 Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions? 32a Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash contributions? b If "Yes," describe in Part II. 33 If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked, describe in Part II. LHA For Paperwork Reduction Act Notice, see the Instructions for Form 990. .832141 10-18-18 No 30a 31 X 32a X Schedule M (Form 990) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Pgm 2 Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information. Schedule M (Form 990) 2018 [Part ii i _ supplemental InforMation. SCHEDULE M, LINE 32B: ON OCCASION AND AS APPROPRIATE, SECURITIES AND OTHER DONATED LIQUID OR ILLIQUID ASSETS CAN BE CONVERTED INTO CASH BY 'THE OUTSIDE THIRD PARTY SPECIALISTS THAT PARTNER WITH THE NRA TO FULFILL THE PHILANTHROPIC INTENTIONS OF THE DONORS. 832142 10.18-18 Schedule M (Form 990) 2018 SCHEDULE 0 (Form 990 or 990-EZ) Department of the Treasury Internal Revenue Service Supplemental Information to Form 990 or 990-EZ Complete to provide information for responses to specific questions on Form 990 or 990-EZ or to provide any additional information. Olo. Attach to Form 990 or 990-EZ. Ow Go to www.irs.gov/Form990 for the latest information. Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA OMB No. 154.5-0047 2018 p`op.*t.o.,PcmicJ ,InSPeCtiOn'. Employer identification number 53-0116130 FORM 990, PART I, SECTION 1, LINE 1 THE NRA IS A 501(C)(4) MEMBERSHIP ASSOCIATION WITH FOUR 501(C)(3) PUBLIC CHARITIES AND A SECTION 527 POLITICAL ACTION COMMITTEE (PAC) WHICH IS A SEPARATE SEGREGATED FUND. THE FOUR CHARITIES AFFILIATED WITH THE NRA ARE NRA CIVIL RIGHTS DEFENSE FUND, NRA FOUNDATION INC, NRA FREEDOM ACTION FOUNDATION, AND NRA SPECIAL CONTRIBUTION FUND DBA NRA WHITTINGTON CENTER. THE POLITICAL ACTION COMMITTEE IS NRA POLITICAL VICTORY FUND. SEE SCHEDULE R, PART II. FORM 990, PART I, LINE 7 THIS INFORMATIONAL NOTE REGARDS THE NRA'S UNRELATED BUSINESS INCOME. FORM 990 PAGE 1 SHOWS GROSS UNRELATED BUSINESS REVENUE ON LINE 7A AND NET UNRELATED BUSINESS TAXABLE INCOME ON LINE 7B. THE NRA DID NOT OWE UNRELATED BUSINESS INCOME TAX FOR THE YEAR 2018 BECAUSE DIRECTLY CONNECTED DEDUCTIONS WERE GREATER THAN THE ASSOCIATED INCOME IN 2018. THE MAIN SOURCES OF NRA UNRELATED BUSINESS INCOME, AS SHOWN ON 990 PART VIII, COLUMN C, ARE CERTAIN MERCHANDISE SALES FROM THE E-COMMERCE PLATFORMS, ADVERTISING, AND OTHER ACTIVITIES NOT RELATED TO THE NRA'S TAX EXEMPT PURPOSES. ADDITIONAL INFORMATIONAL NOTES RELATED TO THE NRA'S TAXES ARE SHARED ON SCHEDULE C REGARDING 527(F) PROXY TAXES AND SCHEDULE D REGARDING STATE AND LOCAL TAXES. THE NRA CHOOSES TO SHARE THIS EXTRA INFORMATION ABOUT THE TAXES IN ORDER TO DEMONSTRATE IN GOOD FAITH THAT THE ORGANIZATION IS A TAXPAYER IN GOOD STANDING. FORM 990 PART I, LINE 8 LHA For Paperworlc Reduction Act Notice, see the Instructions for Form 990 or 990-EZ. 832211 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990-EZ) (2018) Page 2 Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA Employer identification number 53-0116130 THIS INFORMATIONAL NOTE REGARDS THE NRA'S CONTRIBUTION REVENUE. THE VAST MAJORITY OF CONTRIBUTIONS TO THE NRA.COMES FROM MILLIONS OF SMALL INDIVIDUAL DONORS. GIFTS FROM - COMPANIES AND EXECUTIVES IN THE FIREARMS, HUNTING, AND SHOOTING SPORTS INDUSTRIES INDUSTRIES TYPICALLY COMPRISE LESS THAN 5% OF THE NRA'S CONTRIBUTION REVENUE EVERY YEAR, AS APPLIED TO CONTRIBUTION REVENUE REPORTED ON FORM 990, PART VIII, LINE 1. FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES: THIS NOTE PROVIDES FURTHER INFORMATION ON PART III PROGRAM SERVICE ACCOMPLISHMENTS. NRA PROGRAM SERVICES ARE CENTERED ON THE NRA'S CORE MISSION OF FIREARMS SAFETY, EDUCATION, AND TRAINING, INCLUDING MESSAGING THAT PROMOTES FREEDOM AND LIBERTY. THE ADDITIONAL PROGRAM SERVICE EXPENSES OF $59,426,544 NOTED ON 990 CORE FORM PART III LINE 4D INCLUDE THE PROGRAM SERVICES COMPONENTS OF PUBLIC AFFAIRS, EXECUTIVE, AND ADVANCEMENT OPERATIONS. 990 READERS ARE ENCOURAGED TO ACCESS NRA.ORG FOR OPPORTUNITIES TO CONTINUE TO ENGAGE WITH THE NRA. EXPENSES 4 59,426,544. INCLUDING GRANTS OF $ O. REVENUE .$ 1,330,515. FORM 990, PART VI, SECTION A, LINE 2: SEVERAL NRA DIRECTORS ARE EMPLOYED IN THE FIREARMS INDUSTRY AS MANUFACTURERS OR SELLERS OF FIREARMS, AMMUNITION, OR COMPONENTS THEREOF. THESE BOARD MEMBERS ROUTINELY BUY AND SELL PRODUCTS FROM ONE ANOTHER IN THE ORDINARY COURSE OF BUSINESS. FORM 990, PART VI, SECTION A, LINE 6: THE NATIONAL RIFLE ASSOCIATION IS A MEMBERSHIP ASSOCIATION THAT REPRESENTS ONLY INDIVIDUAL CITIZENS. MEMBERSHIP DUES ARE PROPERLY REPORTED ON FORM 032212 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990•EZ) (2018) Page 2 Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA Employer identification number 53-0116130 990, PART VIII, LINE 2 PURSUANT TO THE INSTRUCTIONS FOR SUCH REPORTING. FORM 990, PART VI, SECTION A, LINE 7A: NRA MEMBERS ELECT ALL 76 MEMBERS OF THE NRA BOARD OF DIRECTORS. 75 DIRECTORS ARE ELECTED FOR STAGGERED THREE YEAR TERMS, AND THE 76TH DIRECTOR IS ELECTED FOR ONE YEAR TERM ON THE OCCASION OF EACH ANNUAL MEETING OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B: CERTAIN BOARD OF DIRECTORS DECISIONS ARE SUBJECT TO MEMBERSHIP APPROVAL PER NRA BYLAWS AND NEW YORK NOT FOR PROFIT CORPORATE LAW. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 IS REVIEWED BY THE EXTERNAL AUDITING FIRM, PRESENTED TO THE NRA BOARD OF DIRECTORS AUDIT COMMITTEE, AND MADE AVAILABLE TO THE FULL NRA BOARD OF DIRECTORS, BEFORE IT IS FORM 990, PART VI, FILED WITH THE IRS. SECTION B, LINE 12C: THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES OF THE FILING ORGANIZATION AND ITS AFFILIATES, AS WELL AS TO THEIR RELATIVES. RELATED PARTY TRANSACTIONS AND POTENTIAL CONFLICTS ARE SELF-REPORTED ON A QUESTIONNAIRE THAT IS DISTRIBUTED AT LEAST ANNUALLY AND REVIEWED.BY THE SECRETARY AND GENERAL COUNSEL. ISSUES MAY ALSO BE REPORTED THROUGH OTHER MEANS OR INDEPENDENTLY DISCOVERED BY STAFF. REGARDLESS OF HOW THEY ARE REPORTED, RELATED PARTY TRANSACTIONS AND ISSUES OF APPARENT CONFLICT ARE PRESENTED TO THE BODY DESIGNATED BY THE BOARD OF DIRECTORS (THE AUDIT COMMITTEE) FOR APPROVAL, DISAPPROVAL, OR PRECAUTIONARY MEASURES AS NEEDED. 832212 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990-EZ) (2018) Name of the organization Page 2 Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION OF THE NRA'S TOP MANAGEMENT OFFICIALS IS ESTABLISHED BY METHODS INCLUDING INDEPENDENT COMPENSATION CONSULTANTS, COMPENSATION SURVEYS AND STUDIES, AND COMPARABILITY DATA. IN ADDITION, UNDER THE NRA BYLAWS COMPENSATION OF CERTAIN ELECTED OFFICERS (INCLUDING THE EXECUTIVE VICE PRESIDENT) MUST BE APPROVED BY THE BOARD OF DIRECTORS, BASED ON RECOMMENDATIONS BY THE COMPENSATION COMMITTEE. ALL DECISIONS ARE PROPERLY DOCUMENTED. FORM 990, PART VI, LINE 17, LIST OF STATES RECEIVING COPY OF FORM 990: AL,AZ,AR,CA,CO,CT,DC,FL,GA,HI,ID,IL,IN,IA,KS,KY,LA,ME,MD,MA,MI,MN,MS,MO,NE NV,NH,NJ,MT,NM,NY,ND,NC,OH,OK,OR,PA,PRJ RI,SC,DE,SD,TN,TX,UT,VT,VA,WV,WA,WI, WY FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES OF THE FILING ORGANIZATION AND ITS AFFILIATES, AS WELL AS TO THEIR RELATIVES. RELATED PARTY TRANSACTIONS AND POTENTIAL CONFLICTS ARE SELF-REPORTED ON A QUESTIONNAIRE THAT IS DISTRIBUTED AT LEAST ANNUALLY AND REVIEWED BY THE SECRETARY AND GENERAL COUNSEL. ISSUES MAY ALSO BE REPORTED THROUGH OTHER MEANS OR INDEPENDENTLY DISCOVERED BY STAFF. REGARDLESS OF HOW THEY ARE REPORTED, RELATED PARTY TRANSACTIONS AND ISSUES OF APPARENT CONFLICT ARE PRESENTED TO THE BODY DESIGNATED BY THE BOARD OF DIRECTORS (THE AUDIT COMMITTEE) FOR APPROVAL, DISAPPROVAL, OR PRECAUTIONARY MEASURES AS NEEDED. FORM 990, PART VI, SECTION C, LINE 18 832212 10.10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990-EZ) (2018) Name of the organization - NATIONAL RIFLE ASSOCIATION OF AMERICA Page 2 Employer identification number 53-0116130 READERS ARE POLITELY REMINDED THE NRA WAS FOUNDED 147 YEARS AGO, IN 1871. THE NRA'S 1944 DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE IS AVAILABLE ON GUIDESTAR.ORG AND CAN ALSO BE REQUESTED DIRECTLY FROM THE NRA AS REQUIRED.BY LAIC FORMS 990 CAN BE REQUESTED DIRECTLY FROM THE NRA AS REQUIRED BY LAW. FORM 990, PART VII, SECTION A, LINE 1 THIS INFORMATIONAL NOTE REGARDS SERVICE ON THE NRA BOARD OF DIRECTORS, WHICH IS NOT COMPENSATED. BOARD MEMBERS WHO RECEIVED COMPENSATION IN 2018 WERE COMPENSATED FOR OTHER REASONS, NOT FOR THEIR VOLUNTARY BOARD SERVICE. MR. BUTZ, MS. FROMAN, MS. GOLOB, MS. HAMMER, MR. KEENE, MR. NUGENT, MR. OLSON, AND MR. SKELTON WERE COMPENSATED FOR OTHER PROFESSIONAL SERVICES THEY PERFORMED FOR THE ORGANIZATION. MR. BROWNELL, MS. .LIGHTFOOT, AND MR. MILLS, AND MR. TED NUGENT RECEIVED MEMBERSHIP RECRUITING COMMISSIONS THAT WERE PAID TO THEIR COMPANIES. FOR THE PURPOSE OF DETERMINING THE COUNT OF INDEPENDENT DIRECTORS AS OF DECEMBER 31, 2018 SHOWN ON PART I LINE 3 AND PART VI LINE 1B, THE NINE DIRECTORS NOT CONSIDERED INDEPENDENT FOR 2018 WERE MR. BUTZ, MS. FROMAN, MS. GOLOB, MS. HAMMER, MR. KEENE, MR. NORTH, MR. NUGENT, 'MR.' OLSON, AND MR. ' SKELTON. FORM 990, PART VII, SECTION A, LINE 5 IN 2018, MR. NORTH RECEIVED NO COMPENSATION FROM THE NRA FOR HIS 20 HOURS PER WEEK AS NRA PRESIDENT. THE PAYMENTS OF $1,377,617 WERE FROM AN UNRELATED ORGANIZATION, ACKERMAN MCQUEEN INC. CERTAIN OF THESE PAYMENTS ARE DISPUTED AND SUBJECT TO ONGOING LITIGATION. IN 2018. MS. GOLOB WAS ALSO COMPENSATED BY AN UNRELATED ORGANIZATION, ACKERMAN 832212 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Page 2 Schedule 0 (Form 990 or 990-EZ) (20181 Kfame of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA Employer identification number 53-0116130 MCQUEEN INC, $28,661 FOR PROFESSIONAL SERVICES PERFORMED ON NRA DIGITAL MEDIA PROJECTS. FORM 990, PART VII SECTION B, LINE 1 THIS INFORMATIONAL NOTE PROVIDES ADDITIONAL DETAIL ABOUT AMOUNTS PAID TO OUTSIDE SERVICES PROVIDERS. THE FILING ORGANIZATION REPORTS COMPENSATION PAID TO SERVICES PROVIDERS EXCLUSIVE OF ADVERTISING AND OTHER MEDIA PLACED ON BEHALF OF THE FILING ORGANIZATION AND EXPENSES INCURRED ON BEHALF OF THE FILING ORGANIZATION. FOR EXAMPLE, THE FIGURE OF $31,994,168 STATED ON PART VII SECTION B LINE 1 REFLECTS COMPENSATION FOR SERVICES PAID TO ACKERMAN MCQUEEN INC. IT EXCLUDES . . 0,337,508 INCURRED FOR OUT OF POCKET EXPENDITURES ON BEHALF OF THE FILING ORGANIZATION INCLUDING MEDIA, OUTSIDE VENDOR COSTS, AND REIMBURSEMENT OF TRAVEL AND BUSINESS EXPENSES. FORM 990, PART VIII, LINE 2B THIS INFORMATIONAL NOTE REGARDS THE REPORTING OF MEMBER DUES ON FORM 990. LINE 1B OF THE REVENUE. STATEMENT IS PROPERLY LEFT BLANK. PURSUANT TO 990 INSTRUCTIONS, MEMBERSHIP DUES THAT ARE NOT CONTRIBUTIONS BECAUSE THEY COMPARE REASONABLY WITH AVAILABLE BENEFITS ARE SHOWN ON LINE 2. THUS, ALL NRA MEMBER DUES ARE PROPERLY SHOWN ON THE 990 REVENUE STATEMENT AS PROGRAM SERVICE REVENUE ON LINE 2, OTHER THAN NRA LIFE-PLUS CONTRIBUTIONS. WHICH ARE PROPERLY COUNTED AS CONTRIBUTION REVENUE IN LINE 1F OF THE 990 REVENUE STATEMENT. FORM 990, PART IX, LINE 11 832212 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990-EZ) (2018) Page 2 Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 THIS INFORMATIONAL NOTE REGARDS THE NRA'S PAYMENT OF FEES FOR OUTSIDE PROFESSIONAL SERVICES AS STATED ON LINE 11 OF THE 990 EXPENSE STATEMENT. LINE 11B REPORTS LEGAL FEES PAID TO OUTSIDE ATTORNEYS, SUCH AS FOR SECOND AMENDMENT CASE WORK AND RELATED LITIGATION AT THE FEDERAL AND STATE LEVELS AND FOR REGULATORY AND COMPLIANCE MATTERS. LINE 11C REPORTS ACCOUNTING FEES PAID TO THE OUTSIDE CPA FIRM THAT PROVIDES THE NRA'S AUDITING AND TAX SERVICES. LINE 11D REPORTS LOBBYING EXPENSE PAID TO EXTERNAL REGISTERED LOBBYISTS. LINE 11E REPORTS FUNDRAISING COSTS PAID TO THE AUTHORIZED VENDORS LISTED ON SCHEDULE G. LINE 11F REPORTS INVESTMENT MANAGEMENT-FEES PAID TO INVESTMENT ADVISORS THAT MANAGE THE NRA'S PORTFOLIOS. LINE 11G SHOWS TELEMARKETING COSTS FOR MEMBERSHIP SERVICING. PROFESSIONAL SERVICES PERFORMED BY NRA EMPLOYEES (IN HOUSE COUNSEL, IN HOUSE ACCOUNTANTS, IN HOUSE LOBBYISTS, IN HOUSE FUNDRAISERS, AND IN HOUSE INVESTMENT MANAGERS, RESPECTIVELY) ARE PROPERLY REPORTED WITHIN LINES 5-7 OF THE 990 EXPENSE STATEMENT, AS REQUIRED BY 990 FORM INSTRUCTIONS. PROFESSIONAL SERVICES PERFORMED BY THE TELEMARKETING VENDOR FOR FUNDRAISING PURPOSES, RATHER THAN FOR MEMBERSHIP, ARE PROPERLY REPORTED WITHIN LINE 11E, AS REQUIRED BY 990 FORM INSTRUCTIONS. FORM 990, PART IX, LINE 24E THIS RESPONSE EXPLAINS $12,581,928 OF OTHER EXPENSES STATED ON LINE 24E OF THE 990, PART IX EXPENSE STATEMENT WHICH WERE NOT ACCOMMODATED BY OTHER EXPENSE LINE DESCRIPTIONS. THIS FIGURE INCLUDES $9,204,256 OF FULFILLMENT MATERIALS, $5,747,802 BANKING FEES, $1,276,567 MEMBERSHIP PREMIUMS, $560,407 OF NON-PAYROLL TAXES, AND ($4,927,105) FASB ASC 715 PENSION ACCOUNTING VALUATION ADJUSTMENT. B32212 10-10-1B Schedule 0 (Form 990 or 990-EZ) (2018) Schedule 0 (Form 990 or 990-EZ) (20181 Name of the organization NATIONAL RIFLE ASSOCIATION OF AMERICA .Page 2 Employer identification number • 53-0116130 FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: AGENCY TRANSACTIONS -1,910,739. UNREALIZED GAIN . ON DERIVATIVE INSTRUMENT TOTAL TO FORM 990, PART XI, LINE 9 745,782. -1,164,957. FORM 990, PART XI, LINE 9 THIS RESPONSE EXPLAINS ($1,164,957) OF OTHER CHANGES IN THE NET ASSETS RECONCILIATION SCHEDULE. THE FIGURE INCLUDES ($1,910,739) AGENCY TRANSACTIONS BETWEEN THE NRA AND NRA FOUNDATION AND $745,782 UNREALIZED GAIN ON DERIVATIVE INSTRUMENT. THE AGENCY TRANSACTIONS FIGURE OF ($1,910,739) INCLUDES ENDOWMENT CONTRIBUTIONS AND ENDOWMENT EARNINGS DESIGNATED BY NRA FOUNDATION DONORS FOR ELIGIBLE NRA PROGRAMS. AN INFORMATION NOTE REGARDING THE PURPOSE OF THE DERIVATIVE INSTRUMENT IS INCLUDED WITH SCHEDULE D PART X, LINE 1(2). 632212 10-10-18 Schedule 0 (Form 990 or 990-EZ) (2018) OMB No. 1545-0047 Related Organizations and Unrelated Partnerships SCHEDULE R (Form 990) 2018 ID- Complete if the organization answered °Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37. OP Attach to Form 990. Department of the Treasury Internal Revenue Service Open toVublic . I Inspection Go to www.irs.qov/Form990 for instructions and the latest information. Name of the organization Employer identification number NATIONAL RIFLE ASSOCIATION OF AMERICA Part 53-0116130 Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33. 40 04 (c) Name, address, and EIN (if applicable) of disregarded entity Primary activity Legal domicile (state or LEXINGTON CONCORD HOLDINGS LLC - 83-1798978 11250 WAPLES MILL RD FAIRFAX, VA 22030 (d) Total income (e) (0 End-of-year assets Direct controlling entity foreign country) DEVELOPMENT PHASE DELAWARE 0 . NRA . • Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related tax-exempt organizations during the tax year. (a) (b) Name, address, and EIN of related organization Primary activity NRA FOUNDATION INC - 52-1710886 11250 WAPLES MILL RD FAIRFAX, VA 22030 NRA SPECIAL CONTRIBUTION FUND - 23-7367534 11250 WAPLES MILL RD FAIRFAX, VA 22030 NRA CIVIL RIGHTS DEFENSE FUND - 52-1136665 11250 WAPLES MILL RD FAIRFAX, VA 22030 NRA FREEDOM ACTION FOUNDATION - 26-1277941 11250 WAPLES MILL RD FAIRFAX, VA 22030 foreign country) LHA (d) (e) Exempt Code section Public charity status (if section 501(c)(3)) CHARITABLE DISTRICT OF COLUMBIA 501(C)(3) CHARITABLE NEW MEXICO 01(C)(3) LINE 7 -HARITABLE VIRGINIA 01 (C) (3 ) LINE 7 CHARITABLE VIRGINIA 501(C)(3) LINE 7 For Paperwork Reduction Act Notice, see the Instructions for Form 990. 532181 10-02-18 (c) Legal domicile (state or (0 Direct controlling entity (9 Section 5'12(bX13) controlled entity? Yes No INE 7 RA NRA X Schedule R (Form 990) 2018 ON VIII\ SaA aione2NES40 pep4uo. Is LXcilz ks uouoes (0) YE)(0)1.0g (e) 0) uogoes A sinew Algetp ollcind Awe Buqloguop 138.40 LZS uopes epoo iciwen (P) YINIDUIA ASS/DVel OUlunoo upeuo; 40 (3) 140R= ArewPd JO evels) epopoP Ie60-1 ft -1.0-in UUES OEOZZ VA xvalliva MI TUN SndVM OSZST OZOESOT-ZS - cuma AHOIDIA IN/311110d VEX uoRezpe6Jo pmts.+ 0 NI3 PuB ts011313E 'oweN (€) suogezweSio Idwax3-xei pezelau uoneogguapi uogenuguo3 VOIHEINV 30 NOIIVIDOSSV OET9TTO -ES WNOIIVN II I•led (066 Ual0A) EI elnPeLPS Schedule R (Form 990) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-03.16130 Page 2 j i artiiii Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes° on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year. (a) Name, address, and EIN of related organization 03) Primary activity WBB LNVESTMENTS, LLC 32 -0569014, 11250 WAPLES MILL INVESTMENT RD, FAIRFAX, VA 22030 (c) (d) Direct controlling entity doL:Itie (state or foreign country) DE (e) M Predominant income (related, unrelated, excluded from tax under sections 512-514) Share of total income (h) (9) Share of end-of-year assets Disproportionate allocations? No Yes gRA CI) 0c) (1) General or Percentage Code V-UBI amount in box managing ownership 20 of Schedule partner? K-1 (Form 1065) Yes No N/A . 99.00% • . Part IV Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a corporation or trust during the tax year. (a) Name, address, and E1N of related organization WINGATE CHURCH INSURANCE SERVICES INC 11250 WAPLES MILL RD FAIRFAX, VA 22030 NRA HOLDINGS COMPANY INC - 02-0558658 11250 WAPLES MILL RD FAIRFAX VA 22030 832162 10-02-18 (b) Primary activity DEVELOPMENT PHASE \HANAGEMENT SERVICES (c) Legal domicile (state or tomIgn country) (d) (e) M Direct controlling entity Type of entity (C corp, S corp, or trust) Share of total income (h) (9) Share of end-of-year assets Percentage ownership SePIon 512(bX13) contraed ently? Yes DE NRA C CORP . VA RA : CORP . . loot X 100% X No Schedule R (Form 990) 2018 ScheduleFtIForm990)2016 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 3 _ Part V Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36. Note: Complete line 1 if any entity is listed in Parts II, Ill, or IV of this schedule. Yes No 1 During the tax year, did the organization engage in any of the following transactions with one or more related organizations listed in Parts11-IV7 a Receipt of (i) interest, (ii) annuities, (iii) royalties, or Ov) rent from a controlled entity la b Gift, grant, or capital contribution to related organization(s) lb X lc X e Loans or loan guarantees by related organization(s) ld le X f Dividends from related organization(s) 1f c Gift, grant, or capital contribution from related organization(s) d Loans or loan guarantees to or for related organization(s) • X g Sale of assets to related organization(s) h Purchase of assets from related organization(s) lh i Exchange of assets with related organization(s) j Lease of facilities, equipment, or other assets to related organization(s) k Lease of facilities, equipment, or other assets from related organization(s) lk 1 Perforrnance of services or membership or fundraising solicitations for related organization(s) 11 m Performance of services or membership or fundraising solicitations by related organization(s) 1m X X X n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ln o Sharing of paid employees with related organization(s) lo X X q Reimbursement paid by related organization(s) for expenses 1q X ✓ Other transfer of cash or property to related organization(s) lr X s Other transfer of cash or property from related organization(s) ls p Reimbursement paid to related organization(s) for expenses 2 If the answer to any of the above is "Yes,- see tne Instructions tor intormation on wno must compiete mis iine incivaing covered reiationsnips ana transaction tnresnoias. (a) Name of related organization (b) Transaction tYPe (a-s) (c) Amount involved (d) Method of deterrnining amount involved coNRA FOUNDATION INC A 180,000.CASH VALUE 12) NRA FOUNDATION INC C 13,525,570.CASH VALUE NRA FOUNDATION INC (3) E 5,000,000. CASH VALUE NRA FOUNDATION INC (4) 0 13,083,925 . CASH VALUE (51 NRA FOUNDATION INC Q 4,218,390.CASH VALUE yoNRA CIVIL RIGHTS DEFENSE FUND C 433,872 . CASH VALUE 832183 10-02-18 Schedule R (Form 990)2018 . pa/40/w! wnowe bumuueleplo poLneiN (P) 0 WrIVA HSV3'TEP'6E V HVIVA HSVD'OOVOZT 0 RITIVA HSVO*0£6 1 SOCT 11 afrIVA HSV3'8LO'E 0 EIVIVA HSVD'OTV 1 88 INMIOAUI wnowv (0) (i-e) ed4 uogoesue.u. (4) 81.-10-170 SZZZE13 40m" mv ma (IZ) (OW (61) . (90 (1.1) (91) (90 (PO WO MO DTI SDNITIOH CIEODNOD NOIDNIXErl (I° =Ad AUOIOIA rIVOIIVIOd'VEN WO aNna NOLLIMIIIIN.400 rIVIDadS Val W) aNna NoiInsiluNoo rIVIDEMS VIM (W amna HSNHaal SIHDIE qIAI3 kramill uo!lezwealo Jog'lo p:, oweN (e) (Z eull 'A ;Jed 1066 111.10d) elnpEnps) suogozweaso Po 14111M suogoosumai uogenuquo0 V3IIIHNV ao NOIIVIOOSSV Tiara rIVNOIIVN OET9TTO -ES (066 liliO3) A Ved 8 elnPeLPS I8-ZO-Ot 49LZES 810Z (066 uuod) elnPaPS . oN so,. oN sal. (S901. 'mei) i,.. i. 1.-)1 elnPa143S XI 0suonnolie 04sjeumo —Irr EEC@ 60euew OZ XOCI U! WOOLUB 86EWOOJed JO P3i0U09 ien-n 9P00 (X) 0) (I) -iodolasia (q) spasm auaAlo-pue lo eieLIS (0) ewoou! WI in emus (4 oN soA (t71.9-Z49 suOpas (A4unoo npun xel Luo4 papnira u6p4o; JO awls) 1.0 0 epopop fe6Eri WIN', Valelaiun `pale191 "OS sieuliee B11.103U! lueup.uopaid Ile alV (P) (a) (0) AMAgoe AJEWIld _ (q) - Apia jo NI3 Pue tSeil:98 'OWEN (e) - e •sd!tisisuped waiuisanu! umpao Jo; uopnioxa Dupebei suonarutsu! ass •uowezpecuo gown q6noRn diusieuurd e se pexel /fugue goes uopuuolta 6Lemoliol (enuenei SS0J6 JO slasse few; Aci paniseew) sammoe slI;(3 wowed tam; ueul WOW pelonpuoo uogezNealo "LE Gull ebe7:1 epvioid 'Al lied '066 onod uo „ssA„ paiemsue uoRezwewo eui eteidwoo AtisAeulJed e amexel suogezlue6J0 Polelaiun IA ;Jed VOISSiet OET9TIO-ES NOLLVIDOSSV ULM! rIVNOLLImi 91.0Z (066 Lw0A) elnPolloS r chedule R form 990) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA 53-0116130 Page 5 ?art VII Supplemental Information. Provide additional inforrnation for responses to questions on Schedule R. See instructions. PART II THE NRA IS A 501(C)(4) MEMBERSHIP ASSOCIATION WITH FOUR 501(C)(3) PUBLIC CHARITIES AND A SECTION 527 POLITICAL ACTION COMMITTEE (PAC) WHICH IS A SEPARATE SEGREGATED FUND. THE FOUR CHARITIES AFFILIATED WITH THE NRA ARE NRA CIVIL RIGHTS DEFENSE FUND, NRA FOUNDATION INC, NRA FREEDOM ACTION FOUNDATION, AND NRA SPECIAL CONTRIBUTION FUND DBA NRA WHITTINGTON CENTER. THE POLITICAL ACTION COMMITTEE IS NRA POLITICAL VICTORY FUND; NRAPVF IS A SEPARATE UNINCORPORATED PAC OF THE NRA. IN THE EVENT THAT ANY FUNDS ARE RECEIVED BY THE NRA AND EARMARKED TO THE PAC, THE NRA HAS SYSTEMS IN PLACE TO ENSURE ANY SUCH RECEIPTS ARE PROMPTLY AND IMMEDIATELY DEPOSITED INTO THE SEPARATE SEGREGATED FUND'S ACCOUNT. PART III WBB INVESTMENTS,LLC WAS FORMED IN CONNECTION WITH A POSSIBLE TRANSACTION THAT WAS NEVER ULTIMATELY EXECUTED. A CERTIFICATE OF CANCELLATION HAS BEEN FILED TO DISSOLVE THE COMPANY. PART V LINE 1C THIS INFORMATIONAL NOTE REGARDS QUALIFIED CHARITABLE GRANT MAKING. ALL GRANTS MADE BY NRA FOUNDATION AND NRA CIVIL RIGHTS DEFENSE FUND TO THE NRA ARE SUBJECT TO STRINGENT REVIEW PROCESSES REQUIRING THAT THE GRANTS BE MADE AND USED ONLY FOR QUALIFIED CHARITABLE PURPOSE PROGRAMS. THE NRA IS REQUIRED TO PROVIDE AN ACCOUNTING TO THE CHARITIES AS DOCUMENTATION THAT PROCEEDS WERE USED BY THE NRA FOR QUALIFIED CHARITABLE PURPOSES AS SET FORTH IN THE GRANT DOCUMENTS. LINE 1E DURING 2018, THE NRA ENTERED A SECURED LOAN AGREEMENT WITH THE 832165 10-02-16 Schedule R (Form 990) 2018 NATIONAL Schedule Rrorm 990) 2018 .Part yit Supplemental Information. RIFLE ASSOCIATION OF AMERICA 53-0116130 Page5 Provide additional information for responses to questions on Schedule R. See instructions. NRA FOUNDATION. THE $5,000,000 LOAN IS PAYABLE TO THE NRA FOUNDATION AT A FAIR VALUE INTEREST RATE. THE NRA MAKES MONTHLY INTEREST PAYMENTS OF 7%. 032165 10-02-18 Schedule R (Forrit 990) 2018 NATIONAL RIFLE ASSOCIATION OF AMERICA FINANCIAL STATEMENTS as of December 31, 2018 and 2017 AND REPORT THEREON NATIONAL RIFLE ASSOCIATION OF AMERICA TABLE OF CONTENTS Pale Report of Independent Auditors 1 Financial Statements: Statements of Financial Position 2 Statements of Activities 3 Statements of Functional Expenses 4 Statements of Cash Flows 5 Notes to Financial Statements 6 - 25 Report of Independent Auditors To the Board of Directors and Members of the National Rifle Association of America Report on the Financial Statements We have audited the accompanying financial statements of National Rifle Association of America (NRA), which comprise the statements of financial position as of December 31, 2018 and 2017, the related statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of finrcial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's intemal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of National Rifle Association of America as of December 31, 2018 and 2017, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of Illlatters As disclosed in Note 1 to the financial statements, the NRA adopted the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Notfor-Profit Entities. The adoption of this standard resulted in the issuance of the statement of functional expenses and additional footnote disclosures and changes to the classification of net assets. Our opinion is not modified with respect to this matter. As discussed in Note 1 to the financial statements, the accompanying financial statements are those of National Rifle Association of America only and are not those of the primary reporting entity. The consolidated financial statements of NRA and its affiliates have been issued as the general purpose financial statements of the reporting entity and should be read in conjunction with the parent-only statements. Our opinion is not modified with respect to this matter. vs 2.4P McLean, Virginia March 13, 2019 1 NATIONAL RIFLE ASSOCIATION OF AMERICA STATEMENTS OF FINANCIAL POSITION as of December 3i, 2018 and 2017 ASSETS Cash and cash equivalents Investments 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 assets $ 2018 23,780,301 45,094,991 841,562 41,458,041 28,696,533 10,632,177 3,179,694 3,000,000 32,709,031 7,819,750 $ _ 2017 17,123,743 48,702,736 1,184,593 36,129,175 30,731,975 13,639,054 3,277,662 3,000,000 34,475,160 7,861,583 197,212,080 $ 196,125,681 31,190,974 55,270,648 48,138,412 46,580,520 $ 29,837,446 62,814,166 47,121,100 31,402,766 LIABILITIES AND NET ASSETS Accounts payable Accrued liabilities Note payable and line of credits Deferred revenue $ Total liabilities Net assets (deficit): Without donor restrictions Net assets without donor restrictions Cumulative pension liability Total net deficit without donor restrictions With donor restrictions Total net assets Total liabilities and net assets 181,180,554 171,175,478 (16,665,676) • (19,611,103) (36,276,779) 52,308,305 2,897,932 (33,256,864) (30,358,932) 55,309,135 16,031,526 . 24,950,203 197,212,080 The accompanying notes are an integral part of these financial statements. 2 $ 196,125,681 NATIONAL RIFLE ASSOCIATION OF AMERICA STATEMENTS OF ACTIVITIES for the years ended December 31, 2018 and 2017 2016 Without Donor Restrictions Revenue and other support Members' dues Prograrn fees Contributions Advertising Member sales Shows and exhibits Investment income, net Insurance administration fees Rental income Other Assets released from restrictions Total revenue and other support Expenses: Program services: Legislative prograrns Publications Public affairs Shows and exhibits Competitions Education and training Hunter services Field services La,v enforcement Recreational shooting Member services and acquisition Administrative Executive officer Fundraising Total expenses Change In net assets before other changes Unrealized (loss) gain on investments, net Unrealized gain on derivative instrument (Loss) gain on interest in interrelated entity Net gain on pension obligation Change in net assets Net assets (deficit), beginning of year as previously presented Reclassification to implement ASU 2016-14 Underwater endowments Net assets (deficit), end of year as reclassified 170,391,374 8,119,717 93,618,315 25,023,714 3,667,968 20,516,030 1,694,315 12,625,210 1,357,108 6,127,175 With Dortor Restrictions Total $ 170,391,374 8,119,717 110,276,554 25,023,714 3,667,968 20,516,030 2,129,708 12,625,210 1,357,108 5,477,684 Without Donor Restrictions 2017 With Donor Restrictions Total $ 128,209,303 10,0131,009 74,999,176 28,344,743 3,758,418 21,204,275 4,544,301 14,563,405 1,255,235 7,205,826 20,230,894 120,230,13941 359 584467 ---1-,-1- 314,396,585 4 974 178 43,376,477 36,460,363 37,931,825 17,786,603 4,586,644 6,022,846 1,558,662 5,859,291 3,853,649 7,327,265 164,763,625 43,376,477 36,460,363 37,931,825 17,786,603 4,586,644 6,022,846 1,558,662 5,859,291 3,853,649 7,327,265 164,763,625 36,740,357 36,904,080 44,138,732 18,909,415 4,702,453 7,686,318 3,958,334 11,882,064 3,805,344 7,200,332 175,927,429 36,740,357 36,904,080 44,138,732 18,909,415 4,702,453 7,686,318 3,958,334 11,882,064 3,805,344 7,200,332 175,927,429 77,898,138 27,860,599 39,052,148 57,158,230 77,898,138 27,860,599 39,052,148 76,546,402 10,125,180 32,077,548 76,546,402 10,125,180 32,077,548 57,158,230 48,581,269 48,581,269 366,732,740 343,257,828 . 16,658,239 435,393 (650,091) 18,481,638 (18,481,638) 361 622,564 (2,038,097) 366J32,740 (5,110,176) (4,066,534) 745,782 (2,414,024) 319,370,763 343,257,828 (23,887,065) 2,260,061 952,998 2,731,203 (8,918,6T7) 5,761,949 (11,164,487) 24,950,203 (14,853,143) 50,967,833 36,114,690 1420,647 11,420,6471 55,309,135 ' 24_513,203 430,358,9321 (3,000,830) 55 309 135 . 136,276,7791 52,308,305 4,927,105 $ The accompanying notes are an Integral par1 of these financial statements. 3 772,81)0 4,974,178 787,771 (7,148,273) (5,029,267) 745,782 (2,414,024) 4,927,105 271,355 128,209,303 10,081,009 99,160,093 28,344,743 3,758,418 21,204,275 4,815,656 14,563,405 1,255,235 7,978,626 (28,861,243) 1,472,290 952,998 2,731,203 6,778,316 (16,926,436) (2,038,097) (962,733) (5,917,847) • 24,160,917 130,358,932) 6,778,316 viuelucqop otpuoug ern go pod 906coui uo mom 6upiuotiwccoo 1128141t6C S 692'1809S 1312V/9.1 221113 091313SS'9 S62.91L' 9 SN'982 S94'611'96 2091/ V/ S29169'91 . 099126 LOS'IN't 622'01'01 62219211 192'29112 Sll'199'62 en'elesz 9S0'111'01 ZEV'CO9 846'928.9 290'SEZ 9LeON'01, 880'EL01 092'101'1 11/1`119.8 81.6.09S S69199.9 29S'69L'99 S ezress'e s 1E401 01ErZELV9C 4 09/1824 ost'serv OSS1L9V SZ 119216 86219n/ 611:691.1 OS9'188'11 290'661'99 6811162V2 1E110211 20.9108'9 829.099'01 sotzwe 991'899'9 LOOVSS'29 S 1E401 BuispupunA 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(*Odin imp) 60)331pue swag swan NATIONAL RIFLE ASSOCIATION OF AMERICA STATEMENTS OF CASH FLOWS for the yeam ended December 31, 2018 and 2017 2018 Cash flows from operating activities: Change in net assets Adjustrnents to reconcile change in net assets to net cash provided by (used in) operating actiWties: Depreciation and amortization Provision for losses an pledges receivable Provision fa losses on accounts receivable Provision fa losses on inventory Contributions restricted for long-term investment Net unrealized and realized loss (gain) on investrnents Unrealized gain on derivative instrument Net gain on pension obhgation Net loss on disposal of assets Changes in assets and liabilities: Deaease in pledges receivable (Inaease) decrease in accounts receivable, net Decrease (increase) in due from affiliates Decrease in inventories and supplies, net Decrease in prepaid expenses Decrease (increase) in other assets Increase (decrease) in accounts payable (Decrease) inaease in accrued liabilities Increase (decrease) in deferred revenue Total adjustrnents Net cash provided by (used in) operating activities Cash flows from investing activities: Sales of investments Purchases of investments Purchases of property and equipment Net cash (used in) provided by investing activities Cash flows from financing activities: Principal payrnents on note payable Principal payments on lines of credit Draw davns on lines of aedit and proceeds on note payable Proceeds frorn life insurance policy loans Principal payments on life insurance policy loans Contributions restricted for long-term invesbnent Net cash provided by financing activities (8,918,677) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year $ 2017 $ (11,164,487) 4,879,550 10,961 4,671,652 150,000 (1,781,726) 4,030,931 (745,782) (4,927,105) 249,751 4,718,295 7,711 6,324,662 360,692 (2,144,164) (6,313,424) (952,998) (6,778,316) 31,495 332,070 (10,000,518) 2,035,442 2,856,877 97,968 41,833 1,353,528 (1,870,631) 323,999 7,094,143 (3,327,840) 3,209,377 510,355 (425,438) (5,351,028) 6,974,744 15,177,754 16,562,555 7,643,878 (8,021,797) (3,759,532) (14,924,019) 9,261,323 (9,684,509) 27,222,671 (16,431,830) (3,363,172) (3,786,358) (1,888,920) 8,901,921 (1,107,008) (150,171,240) 152,295,560 3,500,000 (3,500,00D) (1,039,944) (132,737,519) 138,060,439 3,500,000 1,781,726 2,799,038 2,144,164 9,927,140 6,656,558 3,905,042 17,123,743 13,218,701 23,780,301 17,123,743 Supplemental disdosure of cash flow information: Cash paid during the year for interest 1,945,983 The accompanying notes are an integral part of these financial statements. 5 $ 1,680,243 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 1. NATURE OF ACTIVITIES AND SIGNIFICANT ACCOUNTING POLICIES The National Rifle Ass.ociation 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 govemments. ILA is supported principally by contributions from NRA members. Basis of Presentation 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, 2018 and 2017. These financial statements for the years ended December 31, 2018 and 2017 are not intended to be the general purpose 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 N RA 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 confomiity 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. These reclassifications had no effect on the previously reported net assets or change in net assets. Classification of Net Assets 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 two separate classes of net assets: without donor restrictions, and with donor restrictions, based on the existence or absence of donor-imposed restrictions. Net assets without donor restrictions represent resources that are not restricted by donorimposed stipulations. They are available for support of the NRA's general operations. Net assets with donor restrictions represent contributions and other inflows of assets whose use by the NRA for its programs are limited by donor-imposed stipulations. Some donor-imposed 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. Other donor restrictions are perpetual in nature, where by the donor has stipulated the funds be maintained in perpetuity. 6 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Cash and Cash Equivalents 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. govemment 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, 2018 and 2017. Concentrations of Credit Risk 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 geog raphies. The NRA invests in a professionally managed portfolio that primarily contains money market funds, equity securities, fixed income securities, and alternative investments. Such investments are exposed to various risks, such as market and credit. Due to the level of risk associated with such investments, and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risk in the near term would materially affect investment balances and the amounts reported in the financial statements. Investments Investments consist primarily of money market funds, equity securities, fixed income securities, and altemative investments. Investments in money market funds, equity securities and fixed income securities are carried at fair value as determined by an independent market valuation service using the closing prices at the.end of the period. In calculating realized gains and losses, the cost of securities sold is determined by the specificidentification method. 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. Alternative investments are valued at fair value based on the applicable net asset value per share as of the measurement date, which is a practical expedient, as determined by the NRA. In determining fair value, the NRA utilizes valuations provided by the fund managers. The underlying investments value securities and other financial instruments on a fair value basis of accounting. The estimated fair values of certain investments of the underlying investments, which may include private placements and other securities for which prices are not readily available, are determined by the general partner of the investment and may not reflect amounts that could be realized upon immediate sale, nor amounts that ultimately may be realized. Accordingly, the estimated fair values may differ significantly from the values that would have been used had a ready market existed for these 7 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS investments. The fair value of the NRA's altemative investments generally represents the amount the NRA would expect to receive if it were to liquidate its investment excluding any redemption charges that may apply. Pledges Receivable Pledges receivable due in more than one year have been recorded at the present value of estimated cash flows. An allowanc,e for uncollectible pledges receivable is provided based upon management's judgment of potential defaults. Ac,counts Receivable Membership dues, advertising and other accounts receivable are recorded at the invoiced amount and do not bear interest. Membership contributions receivables are recorded when received. 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 dues 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. 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 Supplies Inventories and supplies are stated at the lower of cost or net realizable value, with costs determined 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 tvvo to ten years. The NRA capitalizes complete desktop and laptop computers gmater than $500 and all other fixed assets greater than $1,500. Members' Dues A portion of member's' dues that represents the present value of the cost of the magazine that is a benefit of membership for the given membership terrn is deferred and amortized over the life of the membership. The portion considered a contribution is recorded as dues revenue when the membership is received. Contributions Unconditional contributions, whether without donor restrictions or with donor restrictions, are recognized as revenue when received and classified in the appropriate net asset category. When the temporary restrictions are met by the NRA which were specified by the donor, contributions with restrictions are released from restriction and are recognized in the net asset without restrictions category. 8 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Revenue Recognition Program fees, advertising, member sales, shows and exhibit sales, and insurance administration fees are recognized as revenue when eamed. Rental income is recognizes! on a straight-line basis over the term of the lease. Derivative Financial Instruments Interest rate swaps are entered into to manage interest rate risks associated with the NRA's borrowing. Interest rate swaps are accounted for in accordance with the Financial Accounting Standards Board Accounting Standard Codification (the Codification) topic, Derivatives and Hedging, under which the NRA is not allowed to use cash flow hedging. Therefore, the interest rate swap is recorded in the statements of financial position at fair value with fair value changes recorded as an unrealized gain on derivative instrument on the statements of activities and statements of cash flows (Note 9). Valuation of Long-Lived Assets Long-lived assets and certain identifiable intangible assets are 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 canying 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 2018 or 2017. 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 art measurable. Functional Allocation of Expenses 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. Such allocations are determined by management on an equitable basis. Occupancy and interest expenses are allocated based on square footage. Certain depreciation is directly charged to applicable areas and certain depreciation is allocated based on square footage or number of employees. Data processing and certain executive salaries and benefits are allocated based on time and effort. Adopted accounting pronouncement In August 2016, the FASB issued ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The amendments in this ASU are intended to make improvements to the information provided in the financial statements and the accompanying notes of not-for-profit entities. The amendments set forth the FASB's improvements to net asset classification requirements and the information presented about a not-for-profit entity's liquidity, financial performance and cash flows. The ASU was adopted by the NRA in 2018. 9 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Pending accounting pronouncements In February 2016, FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The guidance in this ASU supersedes the leasing guidance in Topic 840, Leases. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the statement of financial position for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense mcognition in the statement of activities. The new standard is effective for fiscal years beginning after December 15, 2019.In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in generally accepted accounting principles in the United States of America (U.S. GAAP) when it becomes effective and permits the use of either a full retrospective or retrospective with cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of ASU No. 2014-09 one year, making it effective for annual reporting periods beginning after December 15, 2018. The NRA has not yet selected a transition method and is currently evaluating the effect that the standard will have on the financial statements. In June 2018, the FASB issued ASU No. 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Ac,counting Guidance for Contributions Received and Contributions Made, which provides additional guidance on characterizing grants and similar contracts with resource providers as either exchange transactions or contributions, as well as distinguishing between conditional contributions and unconditional contributions. The updated standard will be effective for resource recipients for annual reporting periods beginning after December 15, 2018 and resource providers one year later. Management is currently evaluating the effect on the financial statements. 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 msult in no significant tax liability. The NRA follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the NRA may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated the NRA's tax positions and concluded that the NRA had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. Subsequent Events The NRA evaluated subsequent events through March 13, 2019, which is the date the financial statements were available to be issued. 10 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 2. AVAILABILITY AND LIQUIDITY The following represents NRA's financial assets and liquidity resources at December 31, 2018 and 2017: Financial assets at year-end: Cash and cash equivalents Accounts receivable available within one year, net Due from affiliates Investments Total financial assets Less amounts not available to be used within one year: Net assets with donor restrictions Financial assets available to meet general expenditures over the next twelve months 2018 $ 23,780,301 14,310,969 5,315,563 45,094,991 • $ 88,501,824 2017 $ 17,123,743 12,463,413 7,854,291 48,702,736 $ 86,144,183 28,927,335 28,927,335 32,431,451 32,431,451 $ 59,574,489 $ 53,712,732 The NRA maintains a policy of structuring its financial assets to be available as its general operating expenses come due. In addition, to manage liquidity the NRA maintains a line of credit with a bank that is drawn upon as needed during the year to manage cash flows. 3. INVESTMENTS Investments as of December 31, 2018 and 2017 consist of: 2018 157,520 $ 32,640,202 8,021,148 3,405,044 871,077 $ 45,094,991 Money market funds Equity securities Fixed income securities Altemative investments Other 2017 $ 640,820 38,484,411 3,056,353 5,874,330 646,822 $ 48,702,736 Investment (loss) income for the years ended December 31, 2018 and 2017 includes the following: 2017 2018 Realized gains, net 998,336 $ 4,053,363 $ Dividends and interest 1,131,372 762,293 2,129,708 4,815,656 Unrealized (losses) gains, net (5,029,267) 2,260,061 (2,899,559) $ 7,075,717 Interest income of $120,000 and $120,000, earned from notes receivable for 2018 and 2017, respectively, is included in dividends and interest. 11 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 4. PLEDGES RECEIVABLE At December 31, 2018 and 2017, donors to the NRA have unconditionally promised to give amounts as follows: 2018 112,900 116,537 621,799 851,236 (362) 850,874 (9,312)'.. $ 841,562 Within one year One to five years More than five years Less: discount of pledges receivable Less: allowance for uncollectible pledges 2017 $ 197,286 298,006 753,169 1,248,461 (18,595) 1,229,866 (45,273) $ 1,184,593 Pledges due in more than one year have been recorded at the present value of estimated cash flows, discounted by rates ranging from 0.88% to 2.22%. 5. ACCOUNTS RECEIVABLE Accounts receivable as of December 31, 2018 and 2017 consist of: 2018 $ 48,428,577 3,603,517 3,149,717 1,274,664 56,456,475 14,998,434 $ 41,458,041 Membership Contributions Advertising Other Less: allowance for doubfful accounts 2017 $ 40,354,236 3,119,379 3,412,352 1,353,358 48,239,325 12,110,150 $ 36,129,175 Following are the changes in the allowance for doubtful accounts during the years ended December 31, 2018 and 2017, respectively: 2017 2018 Allowance at beginning of year $ 12,110,150 16,478,863 Provision for losses on accounts receivable 6,324,662 4,671,652 Write-offs, net of recoveries (1,783,368) (10,693,375) Allowance at end of year $ 14,998,434 $ 12,110,150 12 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 6. INVENTORIES AND SUPPLIES Inventories and supplies as of December 31, 2018 and 2017 consist of: Sales inventories Supplies: Magazine paper Fulfillment and promotional materials Other Less: obsolescence allowance 7. 2018 $ 2,549,261 $ 2017 3,667,792 1,997,175 6,066,869 967,588 11,580,893 948,716 $ 10,632,177 1,650,439 9,048,870 63,664 14,430,765 791,711 13,639,054 2018 $ 3,000,000 2017 3,000,000 NOTES RECEIVABLE Notes receivable as of December 31, 2018 and 2017 consist of: Interest Rate 4.0% NRA Special Contribution Fund $ The note receivable from the SCF is a demand note, collateralized by a first deed of trust on approximately 33,300 acres of land south of Raton, New Mexico. During the years ended December 31, 2018 and 2017, interest in the amount of $120,000 and $120,000 respectively, was recorded. The total interest receivable remaining at December 31, 2018 and 2017, respectively, is $3,639,073 and is included in other assets in the statements of financial position. 8. PROPERTY AND EQUIPMENT Property and equipment as of December 31, 2018 and 2017 consist of: 2018 2017 $ 5,380,792 $ 5,380,792 55,410,753 54,253,187 18,634,456 17,994,728 77,628,707 79,426,001 46,716,970 43,153,547 $ 32,709,031 $ 34,475,160 Land Buildings and improvements Furniture, fixtures and equipment Less: accumulated depreciation Depreciation expense for the years ended December 31, 2018 and 2017 was $4,879,550 and $4,718,295, respectively. 13 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 9. NOTES PAYABLE AND CREDIT AGREEMENTS At December 31, 2018 and 2017, $17,680,174 and $18,787,182, respectively, was payable under a credit agreement with a bank, which expires on October 1, 2019. Under the terms of this agreement, the NRA pays a fixed rate of 6.08%. This credit agreement incorporates an interest rate swap agreement. This swap agreement is recognized on the statements of financial position in accrued liabilities at its fair value of $429,922 and $1,175,704 as of December 31, 2018 and 2017, respectively. The NRA maintained a $25,000,000 line of credit agreement which expired on September 27, 2018. Under the terms of this agreement, the NRA made monthly interest payments on the daily outstanding principal at a variable rate based on the 30-day LIBOR rate, plus 0.60%. On September 27, 2018, the NRA entered into a $28,000,000 line of credit agreement which expires September 27, 2021. Under the terms of this agreement, the NRA makes monthly interest payments on the daily outstanding principal at a variable rate based on the 30day LIBOR rate, plus 0.70%. At December 31, 2018 and 2017, $25,458,238 and $23,333,918 was payable under the different agreements at interest rates of 3.10% and 2.16%, respectively. During 2017, the NRA entered a secured loan agreement with the Foundation where the NRA's accounts receivable served as collateral, which expired on February 2, 2018. Under the terms of this agreement, the NRA made annual interest payments of 7.00%. In January 2018, the agreement was amended to extend the loan to June 2, 2018 with interest to be paid monthly. The loan, however, was repaid in March 2018. During 2018, the NRA entered another secured loan agreement with the Foundation where the NRA's accounts receivable serve as collateral, which expires October 3, 2019. Under the terms of this agreement, the NRA makes monthly interest payments of 7.00%. At December 31, 2018 and 2017, $5,000,000 was payable under the agreement. On the $28,000,000 line of credit agreement, the NRA has pledged as collateral $34,741,486 at December 31, 2018, in cash and investments held in certain custodial accounts by the bank. For the credit agreement, the NRA has also pledged as collateral a Deed of Trust on the NRA Headquarters Building. The NRA is subject to financial covenants associated with the credit agreement and lines of credit agreements. The NRA must maintain minimum cash and investment balances. The annual minimum payments related to these obligations at December 31, 2018 are as follows: 2019 2020 2021 Total minimum future payments $ 22,680,173 25,458,239 $ 48,138,412 Interest expense for the years ended December 31, 2018 and 2017, was $1,830,724 and $1,585,858, respectively. 14 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 10. FAIR VALUE MEASUREMENTS The NRA follows the Codification on Fair Value Measurement, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and sets out a fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Inputs are broadly defined as assumptions market participants would use in pricing an asset or liability. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted pric,es in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly; and fair value is determined through the use of models or other valuation methodologies. Level 3: Inputs are unobservable for the asset or liability and include situations where there is little, if any, market activity for the asset or liability. The inputs into the determination of fair value are based upon the best information in the circumstances and may require significant management judgment or estimation. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The NRA's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. In determining the appropriate levels, the NRA performs a detailed analysis of the assets and liabilities that are subject to fair value measurements. 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 odinary course of operations, approximate their individual carrying amounts due to the relatively short period of time between their origination and expected realization. The carrying value of the NRA's note payable and credit agreement approximates fair value as the interest rate on the credit agreemenfs underlying instruments fluctuate with market rates. 15 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS The tables below present the balances of each class of assets and liabilities measured at fair value on a recurring basis by level within the hierarthy. As of December 31, 2018 Total Level 1 Level 2 Available-for-sale equity securities: Consumer discretionary Consumer staples Energy Financial services Healthcare Industrials Information technology Materials Multi-strategy mutual funds Telecommunications Total available-for-sale equity securities $ Available-for-sale fixed income securities: Multi-strategy bond funds Money market 254,630 425,035 945,645 97,545 382,118 246,862 815,491 1,594,010 27,601,940 276,926 $ 254,630 $ 425,035 945,645 97,545 382,118 246,862 815,491 1,594,010 27,601,940 276,926 32,640,202. 32,640,202. 8,021,148 8,021,148 157,520 157,520 Alternative invesbnents: Multi-strategy fund-of-funds [measured using a net 3,405,044 asset value per share (or its equivalent) practical expedient] Investments at fair value Other investments 44,223,914 871,077 Total investments 45,094,991. Other assets — multi-strategy mutual funds: Deferred compensation plan Supplemental executive retirement plan Total other assets Total assets Interest rate swap $ 40,818,870 $ 2,949,908 $ 2,949,908 $ 1,055,242 1,055,242 $ 4,005,150 $ 4,005,150 $ $ 49,100,141 $ (429,922) Deferred compensation liability Supplemental executive retirement liability Total liabilities $ 44,824,020 $ - (2,949,908) (2,949,908) (1,055,242) (1,055,242) (4,435,072) $ - 16 $ (429,922) $ Q1,435,072) NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Total Available-for-sale equity secudties: Consumer discretionary Consumer staples Energy Financial services Healthcare Industrials Information technology Materials Multi-strategy mutual funds Telecommunications Total available-for-sale equity securities $ Available-for-sale fixed income securities: Multi-strategy bond funds Money market As of December 31, 2017 Level 1 312,920 583,095 441,004 21,721 355,704 347,757 1,356,506 1,837,405 33,097,623 130,676 $ Level 2 312,920 583,095 441,004 21,721 355,704 347,757 1,356,506 1,837,405 33,097,623 130,676 38,484,411 38,484,411 3,056,353 3,056,353 640,820 640,820 Altemative investments: Multi-strategy fund-of-funds [measured using a net 5,874,330 asset value per share (or its equivalent) practical expedient] Investments at fair value $ 48,055,914 Other investments 646,822 Total investments $ 48,702,736 Other assets — multi-strategy mutual funds: Deferred compensation plan Supplemental executive retirement plan Total other assets Total assets Interest rate swap $ 42,181,584 $ 2,886,533 $ 2,886,533 1,156,982 1,156,982 $ 4,043,515 $ 4,043,515 $ 52,746,251 $ Deferred compensation liability Supplemental executive retirement liability Total liabilities ( 1,175,704) $ 46,225,099 $ - (2,886,533) (2,886,533) (1,156,982) (1,156,982) (5,219,219) $ - 17 $ (1,175,704) $ (5,219,219), NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS Money market funds, equity securities and fixed income securities are classified as Level 1 instruments as they are actively traded on public exchanges. Deferred compensation plan and supplemental executive retirement plan assets are based upon the fair market value of those assets, which are observable inputs and classified as Level 1. The deferred compensation liability is notspublically traded and is, therefore, considered Level 2. The NRA's swap agreement is valued based on quoted values stated by the bank's mark-to-market estimate using stated fixed rate and LIBOR interest ratings. The interest rate is observable at commonly quoted indexes for the full term of the instrument and is, therefore, considered a Level 2 item. The table below presents additional information regarding the altemative investments. Multi-strategy fund-of-funds (a) Multi-strategy fund-of-funds (b) Multi-strategy fund (c) 2018 Fair Value . 2017 Fair Value Unfunded Commitments $ $ 2,408,648 $ - - 3,020,588 3,043,894 - 384,456 $ 3,405,044 421,788 $ 5,874,330 - $ Redemption Frequency, Redemption Notice Period quarterly semiannually 65 days 105 days daily 1 day (a) This class invests in hedge funds that pursue multiple strategies to diversify risks and reduce volatility. The hedge funds' composite portfolio for this class includes investments in long, short equity portfolio funds (investments in emerging markets and multiple sectors), directional macro strategy funds (investments in trade futures, options, futures and foreign exchange contracts, and diversified markets), event driven portfolio funds (investments in risk arbitrage, distressed and special situations, and opportunistic investing), relative value portfolio funds (investments in arbitrage, commodity trading advisors and market neutral strategies), and global asset allocation portfolio funds (investment in currencies, bonds, global equities and equity indices). The fair value of the investments in this class have been estimated using the net asset value per share of the investments. (b) This class invests in hedge funds that pursue multiple strategies to diversify risks and reduce volatility. The hedge fund-of-funds' composite portfolio for this class includes investments in private investment companies (investment in global, distressed/credit, domestic healthcare and other) and securities (common stock). The fair value of the investments in this class have been estimated using the net asset value per share of the investments. (c) This class invests in a managed futures product that pursue multiple strategies to diversify risks and reduce volatility. The multi-strategy fund composite portfolio for this class includes investments in private investment companies (investment in currency, bonds, interest rates, commodities and other) and securities (common stock). The fair value of the investments in this class have been estimated using the net asset value per share of the investment. 18 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 11, NET ASSETS WITH DONOR RESTRICTIONS AND DONOR RESTRICTED ENDOWMENT Net assets with donor restrictions are available for the following purposes: 2018 $ 21,246,525 9,101,835 6,298,991 2,973,902 5,546,494 1,492,184 255,055 819,764 76,385 4,424,698 72,472 $ 52,308,305 Legislative pmigrams National Firearms Museum Education and training Recreational Shooting Hunter services Competitions Field services Law enforcement Community outreach Other Other, passage of time Total 2017 $ 21,468,256 10,139,854 6,641,962 3,270,389 5,769,085 1,481,987 283,422 712,791 61,663 4,687,453 792,273 $ 55,309,135 The NRA follows the Codification subtopic Reporting endowment funds. The Codification addresses accounting issues related to guidefines 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 and enacted in the Commonwealth of Virginia on July 1, 2008 and by the State of New York on September 17, 2010. 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 net assets with donor restrictions (a) the original value of cash gifts donated to permanent donor restricted endowment and (b) the discounted value of future gifts promised to permanent donor restricted endowment, net of allowance for uncollectible pledges. The remaining portion of donor restricted endowment funds not classified in net assets with donor restrictions is classified as net assets with donor restrictions 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 fund The purposes of the NRA and donor-restricted endowment fund General economic conditions The possible effect of inflation and deflation The expected total retum from income and the appreciation of investments Other resources of the NRA The investment policies of the NRA The NRA has adopted investment and spending policies for donor-restricted 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. The investment policy of the NRA is to achieve, at a minimum, a real (inflation adjusted) total net retum that exceeds spending policy requirements. Investments are diversified both by asset class and within asset classes. The purpose of diversification is to minimize unsystematic risk and to provide reasonable assurance that no single security or class of securities will have a disproportionate impact on the total portfolio. The amount appropriated for expenditure ranges from Pk to 5% of the endowment fund's fair value as of the end of the preceding year, as long as the value of the endowment does not drop below the original contribution(s). All eamings of the endowment are reflected as net assets with donor restrictions until appropriated for expenditure in the form of program spending. 19 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS The NRA's endowment is composed solely of donor restricted funds. The changes in endowment net assets for the years ended December 31, 2018 and 2017 are as follows: Endowment net assets, beginning of year Interest and dividends, net Net (depreciation) appreciation Contributions Amount appropriated for expenditure Endowment net assets, end of year 2018 $51,889,998 475,047 (3,618,641) 1,708,726 (1,780,774) $48,674,356 2017 $ 46,569,526 1,725,921 3,279,468 2,107,078 0,791,995) $ 51,889,998 The related assets are included in due from affiliates, investments and pledges receivable. From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor or UPMIFA requires the NRA to retain as a fund of perpetual duration. In accordance with accounting principles generally accepted in the United States, deficiencies of this nature that are reported in net assets with donor restrictions as of December 31, 2018 and 2017, were $2,053,356 and $396,736, respectively. The deficiencies in the donor-mstricted endowment funds at December 31, 2018 and 2017, resulted from unfavorable martet fluctuations and the continued appropriation of endowment assets, which was deemed prudent by the NRA. The total amount of the original gifts that have fallen below the level that the donor requires as of December 31, 2018 and 2017, were $21,058,804 and $17,735,887, respectively. The NRA has reclassified $1,420,647 of underwater endowments, from net assets without donor restrictions to net assets with donor restrictions as of January 1, 2017 to conform with the new standards as required by ASU 2016-14. 12. RETIREMENT PLANS 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. Effective December 31, 2018, the NRA froze the Plan and employees will no longer eam additional benefits under the Plan. 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 ac,ceptable investment options. 20 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO, FINANCIAL STATEMENTS The net periodic pension costs for the years ended December 31, 2018 and 2017 consist of the following: Service cost - benefits eamed during the year Interest cost on projected benefit obligation Return on plan assets Recognized net actuarial loss Net amortization and deferral Net periodic benefit c,ost Recognized curtailment loss Other changes Net recognized curtailment loss and other changes Total recognized in statements of activities $ 2018 3,344,289 6,011,108 (7,552,421) 2,253,340 1,362,712 5,419,028 8,718,656 (13,645,761) (4,927,105) 491,923 2017 3,303,061 5,648,941 (6,244,120) 3,450,270 98,035 6,256,187 $ (6,778,316) (6,778,316) (522,129) The following table sets forth the changes in the defined benefit pension plan's funded status and the amount of accrued pension costs for the plan years ended December 31, 2018 and 2017 (utilizing a measurement date of December 31): 2018 2017 Change in benefit obligation: Projected benefit obligation at beginning of year $ 147,957,262 $ 137,051,874 Service cost 3,303,061 3,344,289 Interest cost 6,011,108 5,648,941 Actuarial (gain) loss (13,322,876) 5,519,857 Benefits paid (6,452,460) (3,771,868) Plan amendments 9,309,837 205,397 Plan curtailments (12,728,696) Projected benefit obligation at end of year $ 134,118,464 147,957,262 Change in plan assets: Fair value of plan assets at beginning of year Actual retum on plan assets Employer contributions Benefits paid Fair value of plan assets at end of year $ Accrued pension costs reflected in the statements of financial position in accrued liabilities Accumulated benefit obligation 98,260,092 (7,878,261) 7,600,000 (6,452,460) 91,529,371- $ 86,832,575 15,199,385 (3,771,868) 98,260,092 $ (g589,093) $ (49,697,170) ,$ (134,111E41 .$ (132,178,862) Amounts recognized in net assets without donor restrictions: Total net loss Prior service cost Total $ 19,611,103 $ 32,485,333 771,531 $ 19,611,103 $ 33,256,864 The total 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 $880,576 and $0, respectively. 21 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS 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, 2018 and 2017: Discount rate used to determine benefit obligation Discount rate used to determine net periodic benefit cost Rate of compensation increase Expected return on plan assets 2018 4.45% 3.90% 4.00% 8.00% 2017 3.90% 4.15% 4.00% 8.00% The basis used to determine the overall expected long-term rate of retum on assets utilizing the target asset allocations established within the plan is based on historical retums. The asset allocation strategy is based on several factors including: • • • The relationship between the current and projected assets of the Plan and the projected actuarial liability stream; The historical performance of capital markets adjusted for the perception of future short- and long-term capital market performance; The perception of future economic conditions, including inflation and interest rate assumptions. The asset allocation strategy shall identify target allocations to eligible asset classes and, where appropriate, suitable ranges within which each a.sset class can fluctuate as a percent of the total fund. Each asset class is to remain suitably invested at all times in either cash (or cash equivalents) or permitted securities within each asset class. The asset classes may be rebalanced from time to time to take advantage of tactical misvaluations across major asset classes or investment styles, or to align the current asset mix with strategic targets. Following is a description of the valuation methodologies used for assets measured at fair value at December 31, 2018 and 2017. Multi-strategy equity and fixed income mutual funds and Pooled separate accounts: Primarily valued at the net asset value (NAV) per share based on quoted market prices of the underlying investrnents as reported by the investment advisor using the audited financial statements of the underlying investments. The individual annuities invest in separate accounts, which track the perforrnance of the specific underlying mutual funds. A valuation agent is selected for each mutual fund and PSA. The valuation of the net assets is calculated on each open market day. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain results in a different fair value measurement at the reporting date. Investments measured at net asset value (or equivalent) as a practical expedient have not been classified in the fair value hierarchy. The amounts of investments are included below. 22 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS At December 31, 2018 and 2017, the fair value and the asset allocation of the NRA's pension plan assets was as follows: 2018 Asset category: Multi-strategy equity Mutual funds/PSAs Multi-strategy fixed income Mutual funds/ PSAs Cash $ 55,411,934 35,569,933 547,504 $ 91,529,371 _ 2017 60.5% 38.9 0.6 100.0% $ 61,965,743 36,014,604 279 745 $ 98,260,092.. 63.0% 36.7 0.3 100.0% 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, 2019 are $4,500,000. The following plan year benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 10 fiscal years: 2019 2020 2021 2022 2023 2024 — 2028 (total) $ 6,012,421 $ 6,246,760 $ 6,700,276 $ 6,849,292 $ 7,182,166 $ 38,557,012 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 of 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 $2,569,393 and $2,430,068 for the years ended December 31, 2018 and 2017, respectively. The NRA also maintains a deferred compensation agreement (the Agreement) for certain officers and employees. The Agreement is offered at the sole discretion of its Board of Directors, which may amend or terminate the Agreement at any time. The Agreement is funded through whole life insurance policies on the plan beneficiaries. The NRA is the policy owner and beneficiary. Currently, several key employees are enrolled in the Agreement. Management believes that no unfunded liability exists under the Agreement. At December 31, 2018 and 2017, the NRA had assets relating to the cash surrender values of the whole life insurance policies of $4,406,082 and $4,182,192, respectively. At December 31, 2018 and 2017, the NRA had loans against the whole life insurance policies of $3,535,004 and $3,535,370, respectively, with the net included in investments on the statement of financial position. The policies serve as the underlying collateral for the loans and interest on the loans is accrued at rates between 4.20% and 4.25%. The NRA had an accrued postretirement liability of $278,958 and $275,795 at December 31, 2018 and 2017, respectively. Deferred compensation expense for the years ended December 31, 2018 and 2017 was $(30,955) and $71,973 respectively. 23 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS The NRA has established a 457(b) deferred compensation plan for the benefit of certain employees. This plan is employee funded, and therefore, the NRA did not contribute to this plan during the years ended December 31, 2018 and 2017. At December 31, 2018 and 2017, the NRA held assets, and had related obligations, relating to this plan of $2,949,908 and $2,886,533, respectively. The NRA has also established a 457(f) supplemental executive retirement plan for the benefit of certain executives. At December 31, 2018 and 2017, the NRA held assets, and had related obligations, relating to the plan of $1,055,242 and $1,156,982, respectively. The NRA incurred deferred compensation expense of $206,700 for the yeam ended December 31, 2018 and 2017. For both plans, the assets are included in other assets and the liabilities are included in accrued liabilities on the statements of financial position. 13. RENTAL OPERATIONS AS LESSOR The NRA leases a portion of its headquarters building and adjacent property 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 non-cancellable operating leases as of December 31, 2018: 2019 $ 1,179,547 2020 878,796 2021 775,193 2022 752,222 2023 913,527 2024 & Thereafter 2,079,638 Total minimum future rentals $ 6,578,923 _— Total rental income for the years ended December 31, 2018 and 2017 was $1,357,108 and $1,255,235, respectively. 14. COMMITMENTS AND CONTINGENCIES Leases The NRA leases warehouse, office space and equipment under non-cancellable operating leases with terms expiring through 2022. The lease agreements for various office space include renewal options and escalation clauses and require that the NRA pay for shared operating expenses. 24 NATIONAL RIFLE ASSOCIATION OF AMERICA NOTES TO FINANCIAL STATEMENTS The annual minimum payments related to these obligations as of December 31, 2018 are as follows: 2019 2020 2021 2022 Total minimum payments required $ $ 1,414,035 821,277 458,502 194,912 2,888,726 Total lease. expense for the years ended December 31, 2018 and 2017 was $1,410,079 and $1,298,089, respectively. Litioation and claims NRA is subject to various legal proceedings as well as federal and state govemment agency inquires. In the opinion of the management of the NRA, there are no material pending legal proceedings to which the NRA will be found liable. Management also believes the federal and state inquiries have no merit and will be resolved to the benefit of the NRA. 15. RELATED PARTIES The NRA and the NRA, Foundation are financially interrelated entities as the NRA is able to influence the Foundation's operating and financial decisions as well as the NRA having ongoing economic interest in the net assets of the Foundation. The NRA is affiliated with 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 unincorporated 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 accortiingly, 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. These expenses totaled $17,482,315 and $6,017,801 for the years ended December 31, 2018 and 2017, respectively. As of December 31, 2018 and 2017, $28,501,182 and $29,542,563 mspectively, 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 $13,498,464 and $18,812,141 for the years ended December 31, 2018 and 2017, respectively. The CRDF reimburses the NRA for general operating expenses paid by the NRA on the CRDF's behalf. As of December 31, 2018 and 2017, $3,161 and $1,040,733, 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, 2018 and 2017, $192,190 and $148,679, 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. See also Note 6. The NRA paid administrative and fundraising expenses of $5,105,006 and $2,968,011 for the years ended December 31, 2018 and 2017, respectively, on behalf of the PVF. 25 (53996;? W4 '1 mm NW 115 22137191 3c 3319*"