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Could This Be About Money?

John Richardson has an interesting tidbit:

One thing that has been mentioned to me is that there is more than a supposed “coup” attempt behind this. The NRA-ILA gave the NRA proper a substantial loan that has not yet been repaid so that they could cover their bills. The loan was made in the 2017 time frame. Now it is rumored that Wayne came back to ILA asking for a loan in the $15 million range and Chris Cox said no. The other person who had the authority to say “no” on behalf of the NRA-ILA was Scott Christman and he is on administrative leave as well.

Interesting.

19 Responses to “Could This Be About Money?”

  1. James A CorballyJC says:

    As an aside, I wonder if it was age, or an awareness of the shitshow that was about to kick off that led Tom Selleck to retire from the BOD recently?

    • Sebastian says:

      His career hasn’t really slowed down. I think in his case he didn’t really have the time for it, and if shit is going down on a Board, just the act of being on it will suck time even if you’re not all that involved. You have a vote that matters, and people will vie for it.

  2. aerodawg says:

    In fighting over trying to bleed ILA dry is a plausible explanation I think

  3. Ian Argent says:

    Whoah.

  4. Richard says:

    If this rumor is accurate, I would think that a flat refusal by Cox to loan more money is unlikely. What I would have done in his place is demand a financial plan to repay the new and old loans. Only after this was not delivered would there have been a refusal.

    I think this is indicative of a bigger problem than a straight refusal.

  5. James A CorballyJC says:

    I’m hearing that Loesch is also out. Any confirmation at this point?

    • Charlie Foxtrot says:

      Since NRATV is gone, so is Dana’s contract with NRATV and so is Colion Noir’s contract with NRATV.

  6. Charlie Foxtrot says:

    There was an article in the Washington Post a while ago about the NRA’s finances. It is well worth reading to understand what is going on: https://www.washingtonpost.com/politics/inside-the-nras-finances-deepening-debt-increased-spending-on-legal-fees–and-cuts-to-gun-training/2019/06/14/ac9dc488-8e30-11e9-b08e-cfd89bd36d4e_story.html

  7. Longshot says:

    Wayne.Is.The.Problem.

    When is the Board and membership going to realize this? His self-serving “leadership” is the real existential threat to the NRA, not the NY AG or IRS.

    When an organization is having this many problems, the person at the top must go.

  8. Will says:

    Is there a list of all the BoD’s with contact info? They ALL need to hear from us about doing THEIR JOB and tossing WLP and cronies.

  9. Flight-ER-Doc says:

    First of all, almost everything is ALWAYS about the money…

    But, is not the money the ILA have in a different tax catagory (ie donations) than NRA money proper? If so, how can it be given (and since they aren’t repaying the ‘loan’, it’s a gift) to the non-tax exempt NRA?

    • Miles Fortis says:

      Oh no Doc. You don’t understand “high finance”. ;-)

      I am confident, near to the point of moral certitude, that those funds were legally “loaned” because I have the same confidence that the loan agreement purports to meet all legal standards.

      Doesn’t matter that the reality may be that the loan “isn’t” as the agreement may have extremely easy servicing requirements. But, as a matter of law, it was a loan.

      I see the practice as unethical, but its been around a long time. That’s what lawyers and lobbyists are for; getting politicians to pass laws giving legal cover for what normal people would consider criminal.

      And you probably won’t see the leftist NY AG go anywhere near that, because I’ll bet as many of the demoncrap’s pet causes that are organized the same as the NRA, use the same subterfuge.

    • Richard says:

      Neither NRA Central nor the ILA are tax exempt like some other parts of NRA (e.g. Whittington). They could be a different type of non-tax-exempt, I suppose.

    • Ian Argent says:

      They’re all different sorts of tax-treatment entities; which is one reason ILA is *separate* from the rest of NRA. (So it can participate in political lobbying).

      • Sebastian says:

        I don’t believe ILA is a separate legal entity. But they may have internal accounting procedures that separate ILA funds from other NRA funds.

        • Ian Argent says:

          This Forbes Article says

          “The NRA is not a section 501(c)(3) organization. Rather, it’s organized as a section 501(c)(4) organization. Those are described in the Tax Code as “[c]ivic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare, or local associations of employees, the membership of which is limited to the employees of a designated person or persons in a particular municipality, and the net earnings of which are devoted exclusively to charitable, educational, or recreational purposes.””

          “Sometimes, an organization may have more than one mission and/or purpose. In that case, they often branch into different entities. So while the NRA is organized as a section 501(c)(4) organization which advocates for gun rights, a related organization, the NRA Foundation, is a 501(c)(3) charitable organization “designed to promote firearms and hunting safety, to enhance marksmanship skills of those participating in the shooting sports, and to educate the general public about firearms in their historic, technological and artistic context.” Donations to the Foundation are tax-deductible to the full extent allowed by law.”

          ILA manages the PAC and PVF supports political campaigns.

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