2015 Annual REPORT

Firearms, Freedom and the American Experience MESSAGE From the President

is an honor to present to you The NRA Foundation’s Annual Report for 2015. Our thanks go to you IT and your generous commitment to support The Foundation’s activities. Grants awarded to qualified programs from The NRA Foundation totaled $33.5 in 2015 and now exceed $300 million in funding since inception through more than 38,000 grants in support of the shooting sports. Funds raised by Friends of NRA continue to provide resources for expansion, growth and development of eligible programs at the local, state and national levels. A high priority of The NRA Foundation is its support of public educational programs across America. The NRA Foundation is committed to working together in planning for the future of the shooting sports and standing behind our country’s traditions. To that end, I would like to offer a special thank you to the gun collecting community. Collectors play a vital role in preserving our history and the American culture of freedom. As stated by NRA President and distinguished firearms collector, Allan Cors: “Whether it’s hunting, competitive shooting, or gun collecting, when you introduce someone new to the activities we enjoy, you’re giving firearms and the freedom to own them a new ally, shareholder and believer. That helps the NRA, but more importantly, it secures the freedoms the NRA fights for.” The Foundation is proud of its role in funding support for thousands of eligible programs in communities across the country, and without you our success would not be possible. On behalf of The Foundation Board of Trustees, thank you for trusting our Board and staff to fund programs and projects representing the very best that is the NRA.

James W. Porter II

President, Board of Trustees The NRA Foundation NRA Foundation 2 LETTER of Appreciation

more than two decades, The NRA Foundation has served the needs of freedom-loving FOR Americans across this great nation. Through your philanthropic leadership, we reached significant milestones in the history of The NRA Foundation in 2015 that highlight our efforts to preserve freedom for future generations of Americans. Your commitment to Teaching Freedom to our young Americans is clear. Your support this year, as reflected in this Annual Report, has given The NRA Foundation the necessary resources to:

n Provide life-saving messages to over 28 million school children through our Eddie Eagle GunSafe® Program n Expand and develop our competitions and training of coaches, law enforcement, instructors, women and youth n Support the development and improvement of ranges and shooting facilities across the country n Educate young people all across the country in firearm safety through their affiliations with organizations such as Boy Scouts of America, 4-H Clubs, and others that receive NRA Foundation grants n Award over 300 million in grant support to eligible programs and projects since its inception n Introduce more students to wildlife and conservation through art with the George Montgomery/NRA Youth Wildlife Art Contest

We are proud to Teach Freedom through programs that instill knowledge about America’s great history, build partnerships with leaders in your communities, and provide grants that are instrumental in funding programs that support our shared vision. Your leadership and extraordinary support of Freedom’s cause are making a huge difference in our commitment to promote this country’s treasured traditions and the Second Amendment. On behalf of the entire NRA Family, thank you for your dedication and for your generous contributions that keep America safe and free. I am honored to count on you as a friend and an inspiration in making these accomplishments a reality.

Wayne LaPierre NRA Foundation

Executive Vice President, NRA 3 Ex Officio Trustee, The NRA Foundation Mission Statement Established in 1990, The NRA Foundation, Inc. (“NRA Foundation”) is a 501(c)(3) tax-exempt organization that raises tax-deductible contributions in support of a wide range of firearm-related public interest activities of the National Rifle Association of America and other organizations that defend and foster the Second Amendment rights of all law-abiding Americans. These activities are 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. Funds granted by The NRA Foundation benefit a variety of constituencies throughout the United States including children, youth, women, individuals with physical disabilities, gun collectors, law enforcement officers, hunters and competitive shooters.

2015 Annual REPORT

2 Message from the President 3 Letter of Appreciation from Wayne LaPierre 5 Foundation Grants 22 Your Legacy of Freedom 23 Report of the Treasurer 25 Financial Statements Foundation GRANTS

from The NRA Foundation provide essential program funding, ensuring the GRANTS availability of quality training and educational opportunities nationwide. Through its grant support of eligible educational programs, The NRA Foundation carries out its important educational mission across the country. Each year, donors and volunteer Friends of NRA committees tirelessly raise charitable dollars that fund firearms and safety related public service programs in our communities, including firearms education, training and safety; competitive shooting; hunting and conservation; community outreach; range improvement projects; historical education; and general shooting programs. NRA Foundation 5 its first grant was awarded in 1992, The NRA Foundation has awarded over $300 million through SINCE more than 38,000 grants in support of eligible programs and projects across the country. The NRA Foundation grant program provides supplies, equipment and financial support to a variety of programs geared towards youth, women, law enforcement, veterans, disabled and the general public. The core focus of Foundation grants remains strong: Teach Freedom. The following pages reflect the many organizations and programs supported by NRA Foundation state fund grants in 2015 through funds raised by volunteer Friends of NRA committees. Take pride in the role you have played in these achievements as you review the grants made possible through extraordinary efforts of supporters and volunteers across the country.

Izard County Alabama $62,781 Arizona $264,185 Lafayette County 4-H Organizations and Clubs/Alabama 4-H 4-H Organizations and Clubs Lawrence County Foundation Club Foundation, Inc. Arizona 4-H Foundation Logan County GRANTS Alabama 4-H Club Foundation, Inc. Big Shots Lonoke County Autauga County Sheriff’s Office Pursch Ridge Riders Monroe County Baldwin County Shooting Sports Association Arizona 4-H Youth Foundation Montgomery County Bama Clay Busters Stewart District Pike County Boy Scouts of America American Heritage Academy Poinsett County Alabama-Florida Council Arizona High School Rodeo Association Pope County Black Warrior Council Arizona Naval Sea Cadet Corps Foundation Pulaski County Mobile Area Council Arizona Outdoor Sports, Inc. Saline County City of Eufaula Arizona State Rifle & Pistol Association Sebastian County Fathers in the Field Ben Avery Clay Busters Governing Board, Inc. Sevier County Headland Police Department Ben Avery Clay Crushers Shootin’ the Bull Shooting Club Junior Reserve Officers’ Training Corps Bird Busters of Payson, Inc. Washington County (JROTC) Boy Scouts of America White County Daleville High School Catalina Council Arkansas District Royal Rangers Daphne High School Grand Canyon Council Arkansas Rifle & Pistol Association Marion Military Institute Foundation Casa Grande Trap & Skeet Association Cave City Sharpshooters National Rifle Association of America Copper Cities Youth Sports Armorel Public Schools Trap Team Eddie Eagle GunSafe® Program Eastern Mountain Young Marines Dueling Tree Shooting Club Refuse To Be A Victim® Globe Miami Gun Club Ecclesia College Shooting Sports Team Youth Education Summit (Y.E.S.) Hassayampa Rod & Gun Club Gosnell School District Pirates Trap Team Outdoor Women Unlimited, Inc. High Power Rifle & Pistol Club of Yuma, Inc. Greenwood G-Force Trap Team Huachuca Hot Shots Jonesboro Shooting Stars Trap Team Junior Reserve Officers’ Training Corps Junior Reserve Officers’ Training Corps Alaska $515,675 (JROTC) (JROTC) Malvern High School 4-H Organizations and Clubs Buckeye Union High School Lyon College University of Alaska Fairbanks, Borealis Campo Verde High School Mountain Valley Sportsman’s Association Bullseyes Cortez High School National Rifle Association of America Alaska Biathalon Association Flowing Wells High School Eddie Eagle GunSafe® Program Alaska Department of Public Safety Maryvale High School Youth Education Summit (Y.E.S.) Alaska Interior Marksmanship Committee Rio Rico High School Ozark Youth Shooting Team, Inc. Alaska On Target, Inc. Sahuarita High School Alaska Scholastic Clay Target Program Lake Havasu City Sportsman’s Club, Inc. Alaska Youth Shooting Sports Association, Inc. Odyssey Big Shots California $1,529,051 Borough School District Rio Salado Sportsmen’s Club Thunder Mountain Air Rifle Team Shooting Sport at Arizona State University “The 4-H Organizations and Clubs Boy Scouts of America Gun Devils” Regents of the University of California Great Alaska Council Southern Arizona Firearms Educators, Inc. San Luis Obispo Midnight Sun Council The Mohave Sportsman’s Club Santa Barbara Christian Community Church Wickenburg Unified School District 9 Sutter-Yuba Council Delta Sportsmen’s Association, Inc. Xavier Dad’s Club, Hotshots Tulare County Fathers in the Field Yuma Trap & Skeet Club, Inc. Alturas Rifle & Pistol Club Junior Reserve Officers’ Training Corps American Legion Post 119, Junior Shooters (JROTC) American Legion Post 862 South Anchorage High School Arkansas $228,137 Angels Gun Club, Inc. Wasilla High School Air Force 4-H Organizations and Clubs Apple Valley Gun Club National Rifle Association of America University of Arkansas Cooperative Arrowhead Fish & Game Conservation Club Eddie Eagle GunSafe® Program Extension Service Auburn Gold Miners Trap Team National School Shield Arkansas County Beale Military Liaison Committee, Inc. Nome Sportsman’s Association Ashley County Boy Scouts of America Prince of Wales Shooting Club Baxter County California Inland Empire Council Snowshoe Gun Club, Inc. Carroll County Golden Empire Council Tanana Valley Sportsmen’s Foundation Cleburne County Grace Lutheran Church, Troop 848 Upper Susitna Shooters Association Drew County Greater Yosemite Council 2015 Annual Report Valley High School Shooting Sports Faulkner County Marin Council Franklin County New Hope Community Church, Venturing Greene County Crew 790 Independence County Orange County Council San Diego-Imperial Council 6 7 Foundation NRA Foundation GRANTS Junior ReserveOfficers’ Training Corps Hume LakeChristianCamps Humboldt Trap &SkeetClub High DesertJuniorShooters,Inc. Hat CreekRifle&PistolClub,Inc. HighSchool TrapGranite Bay Team Gold CountryShooters Gaucho Tactical StudentSportsClub Fresno Rifle&PistolClub Fregoso OutdoorFoundation Folsom ShootingClub,Inc. Field ofDreams Faith ChristianAcademy Exeter Sportsmen’sAssociation Escondido Fish&GameAssociation El DoradoCountyExplorers,Post 457 El DoradoCountyDeputySheriff’sAssociation HighSchool East Bakersfield Dixon GameConservationClub,Inc. ValleyDelta Trapshooters Del OroHighSchool Sportsmen’sClub Debra Takayama MemorialJunior HighSchool TrapDe LaSalle Club Corona Sportsmen’sClub,Inc. Corning UnionHighSchool Coon CreekYouth SportingFoundation Colfax HighSchool Trap Team Clayton Valley CharterHighSchool City ofLemoore Encampment Cazadero Baptist ChristianCenter Capital California Waterfowl Association Institute California Military California JuniorClaybreakers Inc. Break theBarriers, National RifleAssociationofAmerica Jose ChristianCenterofSan Mount Pleasant Mother LodeGunClub,Inc. Mojave Youth Shooting SportsCouncil Martinez GunClub Make ADifferenceOutdoors Lucerne Valley Lion’sClub Tiger TrapLos Banos Team Sportsmen’sAssociation Los Banos Sportsmen Livermore Pleasanton Lincoln RifleClub Leona Valley ImprovementAssociation Lemon GroveRod&GunClub Club Fish&Game Habitat Lake Isabella Knights LandingSportsmen’sClub Kern ShootingSports Kern CountyGunClub Kerman Police Explorers,Post 777 (JROTC) Hunt Pheasant Refuse To BeAVictim Western LosAngelesCountyCouncil Troop Post 10049, VFW 649 Venturing Crew58 Ventura CountyCouncil Southern SierraCouncil Silicon Valley Council MontereyBay Sequoia Council Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe DayProgram Brownells NRA Reseda HighSchool Reedley HighSchool Ramona HighSchool Parlier HighSchool Orange HighSchool Orange GlenHighSchool Olympic HighSchool John F. Kennedy HighSchool Henry J.KaiserHighSchool HighSchoolFontana Camp Whitsett Camp Josepho ® ® Program American LegionPost 2“Young Guns” University Adams State 4-H OrganizationsandClubs Colorado Yuba CountyFish&GameCommission Yuba CityHighSchool Trap Team Yolo Sportsmen’sAssociation Woodcreek HighSchool Sportsmen’sClub Wilton ChristianSchool Trap Team Wilderness UnlimitedFoundation West EndGunClub,Inc. Visalia Sportsmen’sAssociation U.S. NavalSeaCadets,ElToro Battalion Tulare CountyTrap Club Truckee Wolverine Club Booster The True SportsmanClub The Cowboys Tehama ShootersAssociation Taft UnionHighSchool Trap Club Taft Sportsman’sClub Sutter UnionHighSchool Summerville HighSchool SportingClub Stockton Sportsmen’sClub,Inc. Southern Tulare CountySportsman’s Southern CaliforniaYouth Marksmen Rod&GunClub,Inc. South Bay Sonora HighTrap Club So CalTop Guns,Inc. Sierra Valley GunClub Sebastopol RifleClub,Inc. Scotts Valley Sportsmen’sClub MariaValleySanta Sportsmen’sAssociation LuciaSportsmen’sAssociation Santa LuisObispoSportsman’sAssociation San LeandroJuniorOptimistRifleClub San PistolLeague Sage FirstShootingAssociation Safety Roseville HighSchool Trap Club River Valley HighSchool Trap ShootingClub Regents oftheUniversityCalifornia, Quincy SportShootingAssociation Pajaro Valley Rod&GunClub Old Fisherman’sClub Oakmont HighSchool Trap Club North Tahoe HighTrap Club NorCal Longshots Nevada CountySportsmen,Inc. National Wild Turkey Federation, Women inthe Association Merced County Chapter Outdoors Bakersfield Pueblo County County Mesa Logan County Larimer County Crowley, Otero4-HShootingSports University,Colorado State EagleCounty Colorado 4-HFoundation Bears EarsSportsmanClub Weld County Washington County Teller County Sharpshooters 4-HClub Morgan County Montezuma County County La Plata Jackson County Grand County Garfield County Fremont County El PasoCounty Douglas County Chaffee County County Baca Moffat County $382,801 Stratford Police Department Seymour Fish&GameClub,Inc. Quaker HillRod&GunClub,Inc. Boy ScoutsofAmerica Boy Bears EarsSportsman’sClub CountyColoradoSheriff’sOffice Archuleta Colorado School ofMinesShootingSports Colorado ParksandWildlife Colorado MountedRangers oftheRockiesCamp ChiefOurayYMCA Buffalo CreekGunClub Delaware Military AcademyCharter Delaware Military ScoutsofAmerica Boy Delaware National RifleAssociationofAmerica Hunt toFeed High Rock ShootingAssociation Elm CityGunClub Rifle&RevolverAssociation Connecticut State ScoutsofAmerica Boy Connecticut Junior ReserveOfficers’ Training Corps High PlainsClayBusters Gunnison Sportsmen’sAssociation Greeley JuniorShootingClub,Inc. Grand Valley MarksmenJuniorRifle Team Del MonteGunClub Colorado Youth Trapshooters Tour Colorado Youth Trust OutdoorsCharitable Colorado West GunClubandJuniorDivision Colorado SpringsPolice Department Junior ReserveOfficers’ Training Corps Young GunsJuniorShootingSportsClub Thomas JeffersonHighSchool The JoeFoss Institute Teller CountyShootingSociety Summit RangeAssociation,Inc. Summit CountyPublicShootingRange Rio GrandeSportsman’sClub Rinn Valley Livestock Club Pueblo Young Marines Pikes Peak FirearmsCoalition,Inc. Outdoor Buddies,Inc. CivilRightsDefenseFund NRA Northern ColoradoRod&GunClub Northern ColoradoJuniorRamsTrap Team National RifleAssociationofAmerica Montrose Rod&GunClub Loyal OrderofMoose,Lodge1548 Foundation High School (JROTC) (JROTC) Refuse To BeAVictim Corporation ofthePresidingBishop Western ColoradoCouncil Council Rocky Mountain Del-Mar-Va Council Eddie EagleGunSafe Connecticut RiversCouncil Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe West HighSchool Pueblo SouthHighSchool Pueblo CountyHighSchool George Washington HighSchool FortFountain Carson East HighSchool Centennial HighSchool Abraham LincolnHighSchool State of Delaware,SmyrnaHighSchool State Saints, TroopSaints, 201 Church ofJesusChristLatter-Day ® ® ® Program Program $48,821 $24,551 Foundation GRANTS

National Rifle Association of America Orange County Public Schools Lowndes County Eddie Eagle GunSafe® Program Colonial High School Meriwether County Youth Education Summit (Y.E.S.) Edgewater High School Montgomery County University of Delaware, Trap & Skeet Team Timber Creek High School Pickens County Polk Education Foundation, Haines City Pierce County High School Seminole County Florida $439,582 Pompano Beach High School Toombs County 4-H Organizations and Clubs Robert E. Lee High School Towns County Bradford County 4-H Association School Board of Levy County, Williston Treutlen County Clay County High School Union County Florida 4-H Club Foundation, Inc. School District of Palm Beach County Ware County Camp Cloverleaf Atlantic Community High School Jones County Citrus County Jupiter High School Lanier County Columbia County South Fort Myers High School Laurens County Escambia County Saint Lucie County School Board, Treasure Oconee County Flagler County Coast High School Peach County Glades County Taylor County High School Thomas County Holmes County Terry Parker High School University of Georgia Jackson County Vernon High School Coffee County Lake County West Port High School Cook County Osceola County Melbourne Central Catholic High School Fayette County National Rifle Association of America Forsyth County Palm Beach County ® Polk County Eddie Eagle GunSafe Program Lamar County Washington County Range Programs Lee County Boy Scouts of America Youth Education Summit (Y.E.S.) Oglethorpe County Central Florida Council Safety and Firearms Education of Florida, Inc. Paulding County Gulf Ridge Council Sarasota Military Academy Taylor County Broward Sheriff’s Office Tamarac Explorers St. Johns County Sheriff’s Office Walton County Escambia County Public Schools Foundation YMCA of Florida’s First Coast Washington County for Excellence, Inc. Cross Keys High School National Naval Junior Reserve Officers’ Training Corps Defense Cadet Corps (JROTC) Georgia $97,387 Emmanuel College Clay Target Shooting Brevard County Schools, Cocoa Beach 4-H Organizations and Clubs Etowah Valley Young Marines Junior Senior High School Appling County FFA (Future Farmers of America) Broward County Schools Bleckley County Georgia FFA FCCLA Center J. P. Taravella High School Carroll County Heritage Christian Academy McArthur High School Dade County House of Prayer Church Cape Coral High School Georgia 4-H Foundation Junior Reserve Officers’ Training Corps Francis Marion Military Academy Decatur County (JROTC) HB Plant High School Dodge County Columbus High School 2015 Annual Report Holmes County High School Emanuel County Etowah High School Lake Brantley High School Georgia Competitive Shooters Luella High School Lemon Bay High School Grady County Ridgeland High School North Fort Myers High School Henry County Southeast Bulloch High School Nova High School Johnson County Stockbridge High School Thomson High School 8 9

Foundation NRA Foundation GRANTS X-Shots ShootingClub On Target, Inc. 4-H OrganizationsandClubs Illinois National RifleAssociationofAmerica Meridian OptimistClubYouth Training Center Lewis &ClarkWildlife Club,Inc. Lake CityHighSchool Skeet&Trap Club Kootenai Valley Rifle&PistolClub UniversityShooting Sports Idaho State Idaho HighSchool RodeoAssociation Idaho Fish&GameCamasPrairieHunter Fernan Rod&GunClub Council Rod&GunClub Coeur d’Alene Skeet&Trap Club Coeur d’Alene HighSchool Viking City ofRupert Burley Trap Club ScoutsofAmerica Boy CountySportsmen Bonner GunClub,Inc. Boise CountyYoungBoise Guns 4-H OrganizationsandClubs Idaho National RifleAssociationofAmerica Kamehameha Schools HawaiiAthletics Island PacificAcademyRiflery Team Hawaii PublicSchools Hawaii HighSchool AthleticAssociation Christian LibertyAcademy Catholic DioceseofHawaii,St.JosephSchool Hawaii Strong Rock ChristianSchool Lee CountyHighSchool Rifle Team Weiser Trap Club,Inc. Unified Sportsmen’sClub Snake RiverSportsmen’sClub ShoShone CountyPublicShootingRange JuniorRifleClub Sandpoint Portneuf Valley Pony Club Association Education Program Trap &SkeetTeam Refuse To BeAVictim Youth HunterEducationChallenge(YHEC) Fulton County Edgar County Abe Lincoln’s4-HShooters Eddie EagleGunSafe DayProgram Brownells NRA Snake RiverCouncil Inland NorthwestCouncil611 Grand Teton Council County University ofIdahoExtension,Latah Regents oftheUniversityIdaho Caribou County County4-HAdvisoryCouncil Bonneville Eddie EagleGunSafe DayProgram Brownells NRA Waiakea HighSchool Radford HighSchool Kalaheo HighSchool Kahuku HighSchool AirRifle Team Hilo HighSchool HighSchool Baldwin Ware CountySchools Youth EducationSummit(Y.E.S.) Cedar HillJuniorLeague Caribou County Canyon County ® ® ® Program Program $220,585 $593,633 $94,704 Junior ReserveOfficers’ Training Corps Jo DaviessCountySheriff’sOffice Illinois Women’s ShootingAssociation RifleAssociation Illinois State Illinois DepartmentofNaturalResources Highland Pistol&RifleClub Herrin ElksLodge,SouthernIllinois Hancock CountyGunClub Hamilton CountySchool District10,Fox Fire Golden EagleYouth Scholastic ShootingTeam FFA (FutureFarmersofAmerica) Fathers intheField Effingham CountySportsman’sClub Edwardsville HighSchool Trap Club Edwardsville GunClub Edgewood Scholastic Trap Team Eagle andWolf Parks CreekState Decatur GunClub Cross Trail OutfittersofIllinois Christian Fellowship School Central IllinoisPrecisionShooting Carmi RifleClub Carlinville ClayBusters YouthBrittany ShootingGroup ScoutsofAmerica Boy Blaze OrangeYoung SportingClub YouthAWRSC ShootingSports,Inc. Aurora Sportsmen’sClub Arlington InternationalAirgunClub, All FivesLimited National RifleAssociationofAmerica Mulberry GroveHighSchool Aces Mt Vernon Police Department Milan RifleClub,Inc. Maywood Sportsmen’sClub,Inc. Meteor Marissa UnitSchool District40, Marissa Lincoln Sportsmen’sClub Forever Pheasant Lincoln Heritage Lake Volunteers Association (JROTC) Sportsman’s Trap ShootingTeam Trap Team AIAC Juniors Shooting Team Trap ShootingTeam Range Programs National School Shield Forreston AlumniChapter Eastland FFA Council WD Boyce Northwest SuburbanCouncil Mississippi Valley Council Lincoln Trails Council Council Lincoln Heritage Lewis andClarkCouncil Illowa Council Des PlainesValley Council Blackhawk AreaCouncil Youth ShootingSportsAssociation University ofIllinoisFoundation, University ofIllinoisExtension University ofIllinois Club The CarrollCountySPIN Tazewell County Mid-Illinois ExtremeShootersClub Kendall County4-HFoundation Jersey County Eddie EagleGunSafe DayProgram Brownells NRA Zion-Benton Township HighSchool Freeport HighSchool East AuroraHighSchool Dwight D.Eisenhower Mason County Williamson County White County Cass County Macoupin County ® Program 4-H OrganizationsandClubs Indiana Allen CountySchools, ConcordiaLutheranHigh FlyersYouth500 Trap Shooting Club Boy Scouts ofAmerica Boy Bishop LuersHighSchool Rifle Team Bishop DwengerRifleClub Bellmont HighSchool RifleClub Auburn ConservationClub Attica ConsolidatedSchool Corporation Anderson Rifle&PistolClubIncorporated Anderson HighSchool Archery Club Revolutionary War Veterans Association, Red BudHighSchool Trap Club Plug andPellet Sportsman’sClub ValleyPleasant HighSchool Trap Team Pinckneyville ShootingSports Peoria Skeet&Trap Club Pekin CommunityHighSchool Otto NewlinShootingRange,Inc. IllinoisClayCrushers Okawville CivilRightsDefenseFund NRA Northbrook SportsClub,Venturing Crew1187 Norridge Police Department Steeleville Community School District 138, Steeleville CommunitySchool District138, LineRifleAssociation State Sportsmen’s ClubofUrbana HighSchool BirdDawgs Sparta Southeastern IllinoisCollegeShotgunTeam South Jacksonville Police Department Schuyler CountyShooters Ford SportsmanClub Sandy Outreach Fund,NFP USA SAFER Trico CommunityUnitSchool District176/Trico Tri CountyGunClub The JoeFoss Institute Ten RingClayBusters Westchester Police Department Waterloo LeadHeads Vienna HighSchool EagleEyeShootingTeam U.S. Sportsman’sAllianceFoundation Tri-State Inc. HistoricalPresentations, School RifleClub Southern IllinoisProjectAppleseed Steeleville Warriors Scholastic ShootingTeam High School Trap Team Huntington County4-HFair Elkhart County Dubois County Purdue University Madison County LaGrange County Kosciusko County Youth EducationSummit(Y.E.S.) Refuse To BeAVictim Association, Inc. Wells County Vigo County Vermillion County Tipton County Top ShotsShootingSportsClub JosephCounty Saint Randolph County4-HClub,Inc. Putnam County Porter County Owen County Marshall County Howard County Hancock County Hamilton County4-HCouncil,Inc. Fayette County DeKalb County Clark County Carroll County Allen County4-HClubs,Inc. ® $492,792 Anthony Wayne Area Council Iowa Trappers Association, Inc. The Lazarus Gunners Youth Trapshooting Club Auburn Presbyterian Church, Troop 169 Izaak Walton League of America Wichita State University, Shooting Sports Team Buffalo Trace Council East Fork Chapter Calvary United Methodist Church, Ottumwa Chapter Troop 396 Loess Hills Youth Shooting Sports Kentucky $186,791 Crossroads of America Council Mason City High School 4-H Organizations and Clubs Hoosier Trails Council Mt. Pleasant Panther Trap Team Bourbon County LaSalle Council National Rifle Association of America ® Breckinridge County Lincoln Heritage Council Eddie Eagle GunSafe Program Calloway County Sagamore Council National School Shield Casey County Crawfordsville Gun Club North Iowa Ringnecks Shooting Sports, Inc. Hancock County Danville Conservation Club North Iowa Trap Team Johnson County Friends of the Hoosier Gun Swingers North Mahaska Shooting Sports Madison County Hunters Helping Hunters, Inc. Osage Community Schools/Osage High Mason County Indiana Natural Resources Foundation School Trap Team McCracken County JacCenDel School Corporation Otter Creek Sportsman’s Club Montgomery County Junior Reserve Officers’ Training Corps Ottumwa High School Robertson County

(JROTC) Pella Shooters Club, Inc. Taylor County Foundation Central Indiana Military Academy, South East Iowa Skeet Club Todd County GRANTS Anderson Preparatory Academy St. Ansgar Trap Shooting Team University of Kentucky Floyd County Schools, New Albany Target Brakers Bracken County High School Two Rivers Junior Pistol SPP Campbell County Cooperative Hobart High School Waterloo Christian School Clay Target Team Extension Marion High School Waverly-Shell Rock High School Carroll County Marion County Fish & Game Junior Trapshooting Club Daviess County Rifle Program Webster County Conservation Laurel County Michigan City Rifle Club Lewis County Morristown Boys & Girls Club Lincoln County National Muzzleloading Rifle Association Kansas $144,112 Rowan County National Rifle Association of America 4-H Organizations and Clubs Warren County Brownells NRA Day Program ® Comanche County Boy Scouts of America Eddie Eagle GunSafe Program Franklin County Bluegrass Council National School Shield ® Graham County Dan Beard Council, Inc. Refuse To Be A Victim Grant County Lincoln Heritage Council Youth Education Summit (Y.E.S.) Johnson County Locust Grove Baptist Church, Troop 369 National Wild Turkey Federation, Kansas 4-H Foundation Campbell County Game and Fish Three Rivers Chapter Kansas State University Cincinnati Veterans Affairs Medical Center Old Trails Rifle & Pistol Club Anderson County E320 Church, Venture Crew 605 Pass It On - Outdoor Mentors Bullmasters Eastern Kentucky University Trap & Skeet Club Pike County Bird Hunters Club Butler County Fifth District Federation of Kentucky Purdue Trap & Skeet Club Clark County Sportsmen, Inc. Purdue University Rifle & Pistol Club Ellis County Jackson Purchase Clay Crushers Rangers Shooting Club Jefferson County Junior Reserve Officers’ Training Corps Red Brush Rifle Range, Inc. Lyon County (JROTC) Roachdale Gun Club Meade County Barren County High School Ruth Lilly YMCA Outdoor Center Miami-Linn County Boyd County School District, Boyd County Saint Joe Valley Youth Shooting Sports Osage County High School Salem Middle School Phillips-Rooks District Breathitt High School Shelbyville Boys Club Sherman County Daviess County Public Schools, Apollo Speedway Young Marines Sumner County High School Spencer Conservation Club, Inc. Western Heritage 4-H Project Club Fern Creek High School The X Count, Inc. Labette County George Rogers Clark High School Tri-County Schools Archery Team Reno County Hardin County Schools Vigo County Sheriff’s Office Boy Scouts of America Central Hardin High School Westfield Washington Schools Coronado Area Council John Hardin High School Jayhawk Area Council Henderson County High School Presbyterian Church USA, Troop 100 Hopkins County Central High School Iowa $136,499 Chisholm Trail Antique Gun Association Letcher County Central High School 4-H Organizations and Clubs Fort Hays State University Shooting Madison Southern High School Hancock County Sports Club Martha Layne Collins High School Iowa State University Fort Leavenworth Rod & Gun Club Perry County Central High School Adams County Garden City Trap Club, Inc. Kentucky Fish and Wildlife Foundation Henry County Kansas Department of Wildlife & Parks Kentucky Regulators Gun Club Range Albia High School Trap Team Kansas Hunter Education Instructors Kentucky State Rifle & Pistol Association Amana Sportsman’s Club Association League of Kentucky Sportsmen American Legion Post 584 Venturing Crew Kansas Trapshooting Association, Inc. Lewis County Sheriff Department Better Ponca Foundation/Ponca State Park National Rifle Association of America Licking River Outfitters, Inc. Brooklyn-Gyerbset-Malcolm School District National School Shield Louisville Metro Police Foundation Shotgunners Refuse To Be A Victim® National Rifle Association of America Camp Foster YMCA Youth Education Summit (Y.E.S.) Brownells NRA Day Program Cedar-Falls High School Trapshooting NE Kansas Youth Hunter Education Challenge Eddie Eagle GunSafe® Program

FFA (Future Farmers of America) NRA Civil Rights Defense Fund Range Programs 2015 Annual Report Eldora-New Providence Community School Pratt Community College Shooting Sports Club Youth Education Summit (Y.E.S.) District, South Hardin Trap Team Saint Johns Military School Youth Hunter Education Challenge (YHEC) Fort Madison High School Sporting Friends of Cowley County Northern Kentucky Scholastic Humboldt High School Wildcat Trap Club Sumner County Shooting Sports Trapshooting Team Iowa City Westside Trap Club The Kinsley Gun Club Paul G. Blazer High School 10 1

1 Foundation NRA Foundation GRANTS Capitol CityRifle & PistolClub Auburn RifleClub Maine Junior ReserveOfficers’ Training Corps Greater NewOrleansHunterEducation Grant ParishSheriff’sOffice DeSoto Youth HuntingSports Concordia ParishSheriff’sDepartment ParishSheriff’sOfficeFiringRange Catahoula ScoutsofAmerica Boy Muzzleloaders,Inc. Bayou Acadiana Youth HunterEducationClub,Inc. Acadiana Sportsmen’sLeague 4-H OrganizationsandClubs Louisiana Waco Archery Elementary The JoeFoss Institute Winn ParishSheriffDepartment Vernon Parish SheriffsOffice Trinity Adventures OutdoorsDisabled Terrebonne ParishSheriffDepartment, LandryParishShooting SportsClub Saint Royal Rangers Rapides Sheriff’sOffice,Pioneers National RifleAssociationofAmerica Louisiana HunterEducationInstructors Lexlee’s Kids,Inc. ParishSheriff&Ex-Officio LaSalle Tax Collector (JROTC) Challenge Organization Challenge Club Junior DeputyYouth HunterEducation Youth ShootingClub Association, Inc. Southeast LouisianaCouncil Norwela Council Webster 4-HFoundation Union Parish St. Tammany Parish St. MaryParish Richland Parish Rapides Parish Louisiana 4-HFoundation 4-HFoundation LaSalle Iberia Parish4-HFoundation Evangeline Parish4-HFoundation New LifeChurch, Outpost164 First AssemblyofGod,Outpost4 Youth EducationSummit(Y.E.S.) Refuse To BeAVictim Slidell HighSchool Destrehan HighSchool ShreveHighSchool Captain West CarrollParish Terrebonne Parish JamesParish4-HFoundation Saint Parish Ouachita Morehouse 4-HFoundation AgCenterExtensionOffice LSU Livingston Parish Lafourche Parish Jeff DavisParish Jackson Parish Grant Parish RougeParish East Baton DeSoto Parish Cameron Parish Calcasieu Parish Parish Bossier Beauregard 4-HFoundation Avoyelles Parish Ascension Parish Acadia Parish ® $479,301 $77,080 National RifleAssociationofAmerica Maryland HighSchool RodeoAssociation Izaak Walton LeagueofAmericaMount andGirls,Inc. Camp Puh’tokforBoys LionsFoundation, Inc. Boonsboro CountyGame&FishProtective Baltimore Annapolis Police Inc. ExplorersPost 199, Chicopee Sportsmen’sClub,Inc. ScoutsofAmerica Boy Massachusetts 4-H OrganizationsandClubs Maryland Wilton Fish&GameAssociation Spurwink Rod&GunClub Sportsman’s AllianceofMaine Scarborough Fish&GameClub Presque IsleFish&GameClub National RifleAssociationofAmerica Maine InfantryFoundation Cumberland Rifle&PistolClub University ofMarylandTrap &Skeet CharlesSportsman’sClub Saint Shooting SportsProgram Airy Chapter Association Shooting Club Refuse To BeAVictim Eddie EagleGunSafe DayProgram Brownells NRA Mohegan Council University ofMaryland Maryland 4-HClubFoundation, Inc. Caroline County 4-H ShootingSportsClub Youth EducationSummit(Y.E.S.) Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Frederick County Charles County Carroll County Allegheny County

® ® Program $70,517 $39,281 Bentley HighSchool Scholastic ClayTarget GunClub B &BS 4-H OrganizationsandClubs Michigan Petersham GunClub Old SturbridgeVillage National RifleAssociationofAmerica Sportsmen’sClub Musketaquid Maspenock Rod&GunClub,Inc. Marlboro Fish&GameAssociation Lee Sportsmen’sAssociation Holliston Sportsmen’sAssociation,Inc. Harvard Sportsmen’sClub,BiathlonProgram Fall RiverRod&GunClub,Inc. Cedar Rod&GunClubEducational Capitol CityRifleClub Caledonia Sportsman’sClubFoundation ScoutsofAmerica Boy Birmingham GunClub Detroit RiverfrontConservancy, Inc.,The Chippewa CountyShootingAssociation Chief OkemosSportsmen’sClub Cheboygan HuntersSafety Grand BlancHuntsman’sClub,Inc. Gateway Sportsman’sClub,Inc. Fudd DustersShotgunSportingTeam Flat RiverConservationClub Fin andFeather ClubofMasonCounty Edwardsburg ConservationClub Dundee HighSchool Trap Club Skeet Team Foundation, Inc. Outdoor AdventureCenter Refuse To BeAVictim Monroe CountySharpShooters University Michigan State Cheboygan County Eddie EagleGunSafe Great LakesCouncil Top Shots County Sanilac Iosco County D-bar-A ScoutRanch Cole CanoeBase ® ® Program $158,093 Crow RiverSportsman’sClub Cannon FallsHighSchool ClayTarget Team Burnsville HighSchool, BlazeTrap Buffalo HighSchool Trapshooting Team Buffalo GunClub Brandon-Evansville HighSchool Trapshooting ScoutsofAmerica Boy Big LakeSportsmen’sClub,Inc. Becker Youth SportShootingAssociation Becker CountySportsman’sClub Austin PublicSchools Apple Valley HighSchool Trap Shooting HighSchool TrapAlexandria Team 4-H OrganizationsandClubs Minnesota Junior ReserveOfficers’ Training Corps Johannesburg-Lewiston HighSchool CountySportsman’sClub Isabella Ida HighSchool Trap Club Huron Pointe Sportsmen’sAssociation Hillsdale College Grand Valley Cap‘N’Ballers Grand RapidsRifle&PistolClub YMCA CampManitou-Lin YMCA Western Wayne CountyConservation Washtenaw Sportsman’sClub DivisionNavalSeaCadetCorps United States Tri-County Sportsman’sLeague Southern Michigan GunClub Mary’sCathedralSchool ArcherySaint Team JosephCountyScholastic Clay Saint Rock LakeChristianAssemblyAssociation Riverside ShootingClub,Inc. Pine RiverSportsmen’sClub Forever MuskegonCounty Pheasants Paw ConservationClub Sharpshooter4-HClub OC Northland Sportsmen’sClub Rod&GunClubFoundation North Ottawa North MacombSportsmen’sClub North MacombEagles National RifleAssociationofAmerica Multi LakesConservationAssociation Monroe PrideTrap Team Michigan Youth HunterEducationChallenge UniversityDemmerCenter Michigan State Michigan AirRifle Training Center, Inc. Lowell HighSchool Scholastic ClayTarget Shooting Team Team Club, Inc. (JROTC) Archery Club Association Target Program Program Team Refuse To BeAVictim Twin Valley Council Sioux Council Council Northern Star Northern LightsCouncil,CampWilderness Regents oftheUniversityMinnesota 4-HFoundation, Redwoodand Minnesota Lyon County Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe Flint NorthwesternHighSchool Renville County Pine County Meeker County Kanabeck County Douglas County County Dakota ® ® Program $70,019 Junior ReserveOfficers’ Training Corps DeSoto CountySchools of DeSoto CountyMississippiBoard ScoutsofAmerica Boy 4-H OrganizationsandClubs Mississippi Willmar Trap Club,Inc. Willmar Rifle&PistolClub,Inc. Waverly GunClub,Inc. Wadena DeerCreekSchools Totino-Grace HighSchool PaulHighSchool PackerSouth Saint Rochester Police AthleticActivitiesLeague, Poseidon SeaCadetUnit,Inc. Pine IslandHighSchool Trap Team Ogilvie CommunityEducation Northwestern GunClub Sportsmen’sClubofLeech Lake Northstar Northome HighSchool ClayTarget Team North BeltramiSportsmen’sClub New London-SpicerSchool Trap Team National RifleAssociationofAmerica Mora PublicSchools, CommunityEducation Minnewawa Sportsmen’sClub MACCRAY Trap ShootingTeam Lyon Forever Young CountyPheasants Guns, LeSueur-Henderson HighSchool Trap Team Lakeville SouthHighSchool ClayTarget Team Lakeville NorthHighSchool Trap Team Lakes AreaShootingCenter, Inc. Kerkhoven-Murdock-Sunburg HighSchool Kelliher PublicSchool Kanabec ConservationClub GunClub Itasca International FallsHighSchool, FallsTrap Team Independent School District727, BigLake Independent School District716,Belle WabassoIndependent School District640, Independent School District32,Black Duck Hutchinson HighSchool, Hutch Tiger Trap, Inc. Hibbing Trap ClubJuniorProgram Hibbing HighSchool Trap Team Hastings HighSchool Trap Team Hampton Sportsman’sClub Grand RapidsTrap Club Glenville-Emmons HighSchool Trap Team Glencoe-Silver LakeSchool Foley PublicSchools Trap Team FFA (FutureFarmersofAmerica) East RidgeHighSchool Trap Team Delano HighSchool ShootingSportsClub CountyGunClub Dakota Crow RiverSportsmen’sClub,Saint (JROTC) Supervisors Trap Team Rochester Police Explorers ClayTargetMinnesota League Trap Team Public Schools Trap Team Plaine PublicSchools, PlaineHighsSchool Clay Target Team Public School Shooting Program Michael AlbertvilleHighSchool Trap Yocona Area Council Jackson County Hot Shots Youth EducationSummit(Y.E.S.) LakeFFAMountain Alden-Conger FFA Pelahatchie HighSchool Pearl RiverCentralHighSchool HighSchool Bay $58,570 R-1 School District,Poplar BluffHighSchool Pioneer GunClub National Wild Turkey Federation R-3 School District,CamdentonHighSchool R-2 School District,Louisiana United States ConferenceofCatholicBishops, United States Sunnyhill, Inc. R-3 School District,Warren County Junior ReserveOfficers’ Training Corps Harrisonville MiddleSchool FFA (FutureFarmersofAmerica) Cross Trail OutfittersofMissouri,Inc. Butterfield Trail Cowboys,Inc. ScoutsofAmerica Boy 4-H OrganizationsandClubs Missouri 4-H OrganizationsandClubs Montana South PanolaSchool District/SouthPanola Olive Branch Police Department National RifleAssociationofAmerica The JoeFoss Institute National RifleAssociationofAmerica Missouri Youth HunterEducationChallenge Federation, Inc. Missouri HuntingHeritage Mansfield 1stAssemblyofGodRoyalRangers Trap Team Trap Club Saint FrancisXavierSchool ArcherySaint Program (JROTC) High School MarksmanshipTeam Refuse To BeAVictim Range Programs National School Shield Youth EducationSummit(Y.E.S.) National School Shield Taney CountySchools, Branson School DistrictR2,HarrisonCounty Ozark Trails Council Lewis andClarkCouncil First PresbyterianChurch, Troop 100 University ofMissouri Scotland County FrancoisCountyExtensionCouncil Saint Pulaski County Polk County Perry County Missouri 4-HFoundation Miller County Linn County Lincoln County Jefferson County Iron County Howell CountyExtensionCouncil Cole County4-HFoundation Butler County Adair County Beaverhead County Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe Picayune MemorialHighSchool R-7 School District,Farmington Knob Noster Clinton HighSchool Eddie EagleGunSafe University ofMissouri Southwest AreaCareerCenter Republic HighSchool High School High School Daviess County County Bollinger ® ® ® Program Program $373,418 $313,607

12 Foundation 2015 Annual Report GRANTS 1

3 Foundation NRA Foundation GRANTS National RifleAssociationofAmerica Rifle&PistolClub Mid-Nebraska Kearney CatholicSchools Foundation Kearney AreaCommunityFoundation Karp andKrow GunClub Grand IslandSkeet&SportingClaysClub, Inc. Grand IslandRifleClub Youth Fathers intheField City ofGrandIsland,HeartlandPublic Centura HighSchool Trap Team Central CatholicSenior, MiddleSchool Trap ScoutsofAmerica Boy Better Ponca Foundation, Park Ponca State 4-H OrganizationsandClubs Nebraska National RifleAssociationofAmerica Montana/Wyoming Scholastic ClayTarget WildlifeManhattan Association Lincoln CountyShootingSportsComplex Great FallsShootingSportsComplex Fallon CountyShootingRangeBoard Denton Rod&GunClub Custer Rod&GunClub Circle RifleClub Camp Patriot Bridger BiathlonClub ScoutsofAmerica Boy Big Fork GunClub Weapons CollectorsSocietyofMontana, Shelby Rifle&PistolClub Shooting Program Shooting Park Team Program, Yellowstone ClayShooters District One Refuse To BeAVictim Eddie EagleGunSafe DayProgram Brownells NRA Faith UnitedMethodistChurch, Troop 158 Western Riders River’s EdgeOutdoorsmen Pawnee County4-HFoundation Nemaha County 4-HShootingSports Nebraska 4-HFoundation Nebraska Loup Valley Great Connections Custer County Buffalo County County Boone Eddie EagleGunSafe DayProgram Brownells NRA Rifle&PistolAssociation, Montana Yellowstone County Pondera University, County, State Sanders Montana 4-HFoundation Montana Mineral County Madison Valley Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Venturing Crew2223 South SideSparks Youth PistolDevelopmentTeam Western ShootingSports Nebraska Orange CrushShotgunClub Merrick County Doniphan Youth Trap Team Silver-Bow Park County Mount Powell Champs Missoula County Lewis andClark Gallatin County BY’s 4-H ® ® ® Program Program $204,672 Junior ReserveOfficers’ Training Corps Franklin Revolver&RifleAssociation, Inc. Central JerseyRifle&PistolClub,Inc. ScoutsofAmerica Boy Atlantic CountyFederation of Junior ReserveOfficers’ Training Corps Humboldt CountySearch andRescue Friends ofStillwaterNWR Comstock ClayBreakers CityGunClubYouthCapital Shotgun 4-H OrganizationsandClubs New Jersey University ofNewHampshireShootingClub Fish&GameClub,Inc. Sunset Mountain Pioneer Sportsmen,Inc. Pemigewasset Valley Fish&GameClub,Inc. Pelham Fish&Game Major Waldron Sportsmen’sAssociation Londonderry Fish&GameClub Goffstown Fish&GameAssociation Cheshire CountyShootingSportsEducation Campton Thorton Fireman’sAssociation/ American LegionPost 31,NewportNews 4-H OrganizationsandClubs New Hampshire 4-H OrganizationsandClubs Nevada USA YouthUSA EducationalShootingSports, RifleClub University ofNebraska Special Youth ChallengeofNorthernNebraska School District15,Litchfield Trojans Junior Pound JuniorHighTrap ShootingTeam Papillion-LaVista Trap Team Association, Inc. Habitat OneBox Nebraska GameandParksCommission Nebraska University ofNevadaRifle Team JuniorShootingClub-SilverState Silver State ClayBreakers Ruby Mountain Northeastern NevadaRifle&PistolAssociation National RifleAssociationofAmerica Mason Valley Trap Club (JROTC) Sportsmen’s Clubs (JROTC) Shooting Academy Foundation Venturing Crew58 NavalSeaCadetCorps Division US Calamus Dusters Rifle Club Shooting SportsAssociation Garden State Council,BSA Garden State Rutgers University New Jersey4-HSportsAdvisoryCouncil New Hampshire4-HShootingSports University ofNevada,RenoFoundation, North LasVegas Roadrunners Lincoln County Youth EducationSummit(Y.E.S.) National School Shield Youth EducationSummit(Y.E.S.) Deptford Township High School Washoe CountySchool District White PineCounty Morris County4-HMarksmen Hunterdon Deadeyes4-HShooting Sparks HighSchool Reno HighSchool Hug HighSchool Sports Club

$136,054 $23,329 $79,127 Junior ReserveOfficers’ Training Corps Bulls-Eye Foundation, Inc. &GirlsClubofSierraBlanca Boys 4-H OrganizationsandClubs New Mexico Affiliated ConservationClubsof 4-H OrganizationsandClubs New York Andrew E.ZimmerFish&GameProtective American Legion,JohnB.Lyman, Post 904 Program,Inc. Allegany CountyPheasant Boy ScoutsofAmerica Boy Black LakeFish&GameAssociation,Inc. Binghamton RifleClub The CitizensRangeandRecreationClubof St. Mark’softheCrossing,Venture Crew357 1,VentureRoberstville FireStation Crew85 Mullica HillRifle&PistolClub Zia Rifle&PistolClub Village ofLogan,LoganGunClub Torrance CountySheriffsOffice The JoeFoss Institute ClubofMoriarty Rotary Rio Vaqueros, Inc. Northern RioGrandeSportsmen’sClub New MexicoShootingSportsAssociation,Inc. InstitutePolice Department New MexicoMilitary New MexicoInstituteofMiningandTechnology National RifleAssociationofAmerica GunClub Manzano Mountain Lone Tree BibleRanch (JROTC) Madison County Association Central NewJersey, Inc. New Mexico State University New MexicoState Cornell UniversityCooperativeExtension County Cattaraugus American Legion Manny Bacon Post 1758,American LegionMannyBacon Greater NewYork Councils640, Council Baden-Powell Longhouse Council Hudson Valley Council Sterling HighSchool Youth EducationSummit(Y.E.S.) Piedra Vista HighSchool Manzano HighSchool Aztec HighSchool Albequierque PublicSchools Venture Crew 1758 Venture Crew 2700 Valencia County Quay County Otero County 4-HOffice New MexicoState Luna County Lincoln County Grant County County De Baca Cibola County Washington County Warren County Sullivan County County Schenectady Oswego County Niagara County Erie County Volcano Vista HighSchool Valley HighSchool HighSchool Sandia Highland HighSchool Del NorteHighSchool Albuquerque HighSchool

$257,153 $287,705 Bridgeport Rod & Gun Club Walworth Sportsman’s Club, Inc. West Henderson High School Brunswick Sportsman’s Club Westfield Police Department Johnston County Public Schools, Busti Trap Club Young Marines/Hudson Mohawk Smithfield-Selma High School Camillus Sportsmen’s Club Jones Senior, Hunter Safety Team Celoron Rod & Gun Club, Inc. North Carolina FFA Association Central Rushford Central School District North Carolina $406,485 Overhills, Shooting Sports Team Trap Club 4-H Organizations and Clubs Southeast Guilford, Alumni Affiliate Central Square Schools, Rifle Team 4-H Hot Shots Southern Alamance High School Chemung Rod & Gun Club Alamance County Southern Nash High Chenango County Sheriff’s Office Ashe County Franklin Sharpshooters Columbia Greene Sportsmen’s Federation Backroad Sharp Shooters Graham County Schools/Robbinsville Cuba Rod & Gun Club, Inc. Edgecombe County - Cooperative Shooting Sports Delaware Valley Junior Rifle Club Extension Gray Stone Educational Foundation, Inc., Dewitt Fish & Game Club Graham County Gray Stone Day School Dunham’s Bay Fish & Game Club Guilford County Greenville Christian Academy Dutchess County Pistol Association Haywood County Guilford County Schools, Southern Guilford Dutchess County Sheriff’s Office Hoke County Hotshots High School Hunter Safety

Ellicottville Central School Trap Shooting Team Iredell County Hawkeye Gun Club Foundation Franklinville Conservation Club Haywood County Schools Foundation Johnston County GRANTS Genesee Valley Rotary Camp, Inc. McDowell County Pisgah High Sportsman’s Club Greene Rod & Gun Club North Carolina State University Waynesville Middle School Hudson Falls Fish & Game Club Pitt County Sportsman’s Club Hudson Falls Police Department Wayne County Henderson County Schools Hudson Fish & Game Club, Inc. Pamlico County Apple Valley Middle School Hunter Iroquois Sportsman’s Club Person County Skills Team Kalicoontie Rod & Gun Club Randoph County Super Sharp East Henderson High School Kinderhook Sportsmen’s Club, Inc. Shooting Stars Hickory Post No. 48, American Legion NC Lewis County Sheriff’s Office Stokes County Iredell-Statesville Schools Lowville Police Department Union County James B. Hunt High School Hunter’s Marbletown Sportsmen’s Club Wilson County Safety Team Metropolitan Rod & Gun Club Young Naturalists Junior Reserve Officers’ Training Corps Mount Morris Sportsman’s Club Alamance Christian School (JROTC) National Rifle Association of America Alamance Burlington School System, ® Albemarle Home School Hunter Safety Team Eddie Eagle GunSafe Program American Legion, Hickory, Post 48 Western Alamance High School Range Programs American Legion, Keith Moore, Post 440 Alexander County Schools, Alexander Youth Education Summit (Y.E.S.) Andrews High School Shooting Team Central High School Nedrow Sportsmen’s Club, Inc. Andrews Middle School Shooting Team Avery County New Berlin Police Department Ayden-Grifton Wildlife Team Brunswick County Schools New York Outdoors Women, Inc. Boy Scouts of America North Brunswick High School New York Youth Hunter Education Challenge Agape Faith Church, Venture Crew 933 South Brunswick High School Committee, Inc., Sullivan’s Sharpshooters Central North Carolina Council Bunker Hill High School Niagara County Scope East Carolina Council Carteret County Schools, West Carteret North Forest Rod & Gun Club Lewisville Civic Club, Inc., Troop 752 High School Northern Dutchess Rod & Gun Club, Inc. Occoneechee Council McDowell County Public Schools, NRA Civil Rights Defense Fund Old North State Council McDowell High School Oneida Rifle Club, Inc. Chase High School Newton Conover High School Onodaga County Federation of Cherokee County School District North Henderson High School Sportsmen’s Clubs Murphy High School Hunters Safety Red Springs High School Orleans County Clay Crushers Shooting Team Robeson County Public Schools Oswego County Sportsmen’s Foundation Murphy Middle School Hunters Safety Fairmont High School Oxford Rod & Gun Club Shooting Team Lumberton High School Peterboro Conservation Club, Inc. Chicod/Conley Hunters Skills Team Saint Stephens High School Pheasant Forever WNY Chapter 29 Craven County Schools, West Craven High South Caldwell High School Philmont Rod & Gun Club, Inc. School, Eagles Hunter Safety Team South Point High School Boosters Pine City Sportsmen’s Club Cross Trail Outfitters Foothills Unit South Stokes High School Pine Tree Rifle Club Foothills Unit Southeast Guilford Booster Club Plattsburgh Rod & Gun Club, Inc. Lake Norman Thomasville High School Pleasant Valley Trout & Game Club, Inc. Mountains Chapter West Caldwell High School Portville Conservation Club Duplin-Onslow Counties Hunters’ Association West Lincoln High School Putnam County Fish & Game Association Durham County Wildlife Club Wilkes Central High School Randolph Rod & Gun Club, Inc. Elkin City Schools, Elkin High School Hunter Lee County Wildlife Club Richburg Rod & Gun Club Safety Team Millennium Education Foundation, Rockdale Rod & Gun Club Farmville Wildlife Competition Team Millennium Charter Academy Sara Spa Rod & Gun Club FFA (Future Farmers of America) Montgomery Community College Foundation, Smyrna Rod & Gun Club Bunker Hill, Alumni Association Montgomery County Community College South Side Rod & Gun Club, Inc. Central Davidson High School Moore County Wildlife & Conservation Club Sportsmen’s Association for Firearms Cleveland Chapter 5 Mount Pleasant Marksman Team Education, Inc. Davidson County Public Schools, North National Rifle Association of America STRIDE Adaptive Sports Davidson High School Youth Education Summit (Y.E.S.) The Federated Sportsmen’s Clubs of East Bladen High School Newton American Legion Post 16 Chenago County East Montgomery North Carolina Hunters for the Hungry, Inc. The Great Lot Sportsman’s Club Corp. North Carolina Rifle & Pistol Association Junior

East Rutherford High School Hunter 2015 Annual Report Town of Evans Police Safety Team Rifle Team Town of Fallsburg Police Department Eastern Randolph High School North Stanly Middle School PTA, Chicken Tri-Village Rod & Gun Club Granville Central, Outdoors Team House Bandits United Sportsman’s Association of Rockland Henderson County Schools Northeast Academy, A Christian School, Inc. Village of Brewster North Henderson High School Polk County Gun Club Village of Liberty Police Department Princeton High School Hunter Safety Team 14 1

5 Foundation NRA Foundation GRANTS 4-H OrganizationsandClubs Ohio Wounded Warriors Guide Service,Inc., Wolford HighSchool Wolves ShootingClub TrapUniversity ofNorthDakota &SkeetClub University State North Dakota ShootingSports Association North Dakota Minot AreaYouth Sportsmen’sClub,Inc. Grand Forks GunClub Forks RifleClub Fallon CountyShootingRangeBoard East GrandForks Rod&GunClub MarksmanshipFoundation, Inc., Dakota CityGunClub Capital Ayr RiflesAirShootersClub 4-H OrganizationsandClubs North Dakota Winston-Salem Forsyth CountySchools Whitney RifleClub&JuniorDivision White’s ShootingRange,SurryCountyHunter Western HarnettHighSchool Hunter Wayne ChristianSchool Watauga GunClub Union CountySchools Union CountyNorthCarolinaSecond Tuscola HighSchool Sportsman’sClub Tom CowdenYouth ShootingCenter The OakwoodSchool The DurhamPistol&RifleClub,Inc. Swain CountyPublicSchools HunterEducationOrganization South Stanly Sir Walter GunClub,Inc. GunClub,Inc. San-Lee Mary’sSchool, TrapSaint ShootingTeam KidsRutherfordCounty,Safe Inc. Rocky MountAcademy Roanoke RapidsGradedSchool DistrictHunter North Dakota Chapter North Dakota Marksmanship Club Buffalo Wildlife Club TeamSafety Education Team Amendment Scholarship Fund SkillsTeamSafety Henry CountySharp Shooters Guns ‘N’Clovers Defiance County Belmont County Agriculture ExtensionCamps,Inc., Emmons County Clay County West Forsyth HighSchool Walkertown HighSchool Ronald W. ReaganHighSchool Hunter R.J. ReynoldsHighSchool East Forsyth HighSchool HunterSafety Weddington HighSchool Porter RidgeHighSchool Piedmont MiddleSchool Parkwood MiddleSchool Parkwood HighSchool Monroe HighSchool Marvin RidgeMiddleSchool Forest HillsHighSchool East UnionMiddleSchool Central AcademyofTechnology &Arts Swain CountyMiddleSchool Hunters Swain CountyHighSchool HuntersSafety Camp Ohio ShootingTeamSafety Shooting Team ShootingTeamSafety Shooting Team

$177,193 $555,831 Junior ReserveOfficers’ Training Corps Izaak Walton LeagueofAmerica,Tiffin Seneca Highland CountySheriff’sOffice Grove CityChurch oftheNazarene,GroveCity Great Trail Musketeers,Inc. Friends ofMedinaSharpshooters,Inc. Fostoria Police Department Fort RecoveryGunClub Fort HarmarRifleClub Fish &GameClubofVienna, CougarsJunior Fathers intheField Farmers andHuntersFeeding theHungry, Inc. Fairfield Sportsmen’sAssociation,Inc. Countryside YMCA ClayBusters, Inc. Centerburg Youth ShootingSports,Inc. Cairo Sportsman’sClub Buckhaven LearningCenter, Inc. Buckeye OutdoorYouth Education&Shooting Buckeye FirearmsFoundation, Venture Crew45 Buckeye FirearmsFoundation Buckeye BulletBusters Broken Timber OutdoorEducationCenter Boy ScoutsofAmerica Boy ClayBusters Badin AmVets Post 2256 America’s FreedomLodge Lima Sabres ShootingAssociation,Inc. Lima Sabres Leipsic Fishing&Hunting Lake andTrails Organization (JROTC) Christian School Rifle Team Center, Inc. Simon Kenton Council,ChiefLogan MaryofThe AssumptionChurch,Saint Ohio RiverValley Council Miami Valley Council Greater Western ReserveCouncil Great Trail Council Fort RecoveryAmericanLegionpost345, Erie ShoresCouncil Williams CountySharpShooters Pitchfork Pals University Ohio State Highland County Delaware CitySchools, RutherfordF. Hayes Reservation Troop 75 Troop 99 High School Pickaway County Pickaway Washington CountyBull’sEyes County Sandusky Richland County Putnam CountyShootingStars Monroe County Middletown Sportsmen Mercer County Mahoning CountyOutdoorsmen Lucas CountySharpshooters Lorain County Lake CountyYoung Guns Hoppin’ nTrottin’ Club Hocking County, Young Guns Franklin AggiesClub Fairfield County Delaware County Darby CloversClub Clermont County Champaign County Butler County Club Broncos Saddle Awesome AimersClub Auglaize American Traditions Club Allen County 2 HotTrot Club Ohio Rifle&PistolAssociation, Ohio Rifle&PistolAssociation Ohio ProgressiveSportsman’sClub The SouthernOhioDog&GameProtective Sportsmen’s ShootingCenter Sportsmen ofTomorrow, Inc. South ShoreSportsman’sClub,Inc. School Roseville Elementary Forever,Pheasants MercerCountyChapter745 Orwell GunClub Van Wert CountyOutdoorsmen Urbana University Tusco RifleClub Washington LocalSchools Departmentof Village ofAtticaPolice Department Wauseon ExemptedVillage Schools, Wauseon Zanesville RifleClub,Inc. Williams CountyConservationLeague Weslaco Sportsmen’sClub,Inc. Mahoning CountyFederation of Lowellville Rod&GunClub,Inc. National RifleAssociationofAmerica Mercer CountySportsmen’sAssociation East CentralUniversity ShotgunClub Camp ClassenYMCA ScoutsofAmerica Boy 4-H OrganizationsandClubs Oklahoma Junior PistolProgram Association Association, Inc. Public Safety Indian Archery Club Sportsmen’s Clubs Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Range Programs Eddie EagleGunSafe DayProgram Brownells NRA Indian NationsCouncil Cimarron Council University Oklahoma State Woodward County Stephens County Seminole County Rogers County Roger MillsCounty Payne County Pawnee County Oklahoma County Murray County County McCurtain McClain County Marshall County Major County Love County Logan County Kiowa County Kingfisher County Johnston County Jackson County Haskell County Harper County Greer County Grant County Grady County Garvin County Garfield County Comanche County Cleveland County Canadian County Caddo County Bryan County Beckham County Beaver County ® Program $563,325 Powder River Sportsmen’s Club, Inc. Roseburg Rod & Gun Club Southern Oregon Youth Shooting Club The Dalles Rifle & Pistol Club Wheeler County Community Schools

Pennsylvania $661,269 4-H Organizations and Clubs Northampton County Pennsylvania State University Clearfield County Hot Shots Columbia County Redneck Shooters Dauphin County Fayette Shotgun Club Greene County Liberty Area

Mifflin County Foundation

Venango County Dead-Eyes GRANTS Washington County Westmoreland County Somerset County, Development Fund Tussey Mountain Albion Area Sportsmen’s Club Allegheny Country Rifle Club Allegheny County Office of the Medical Examiner American Legion, Department of Pennsylvania American Legion, North Harrisburg Post 1001 Antler Club of Lucinda Armstrong County Sheriff’s Department FFA (Future Farmers of America) Oklahoma Youth Shooting Sports Education Benshoff Hill Rod & Gun Club Achille Public Schools Alliance Berlin Brothers Valley School District Altus Public Schools Ponca City Rifle & Pistol Club Berwick Area School District High School Battiest Public School Putnam City West High School Rifle Team Blackwell Public Schools Spiro Public Schools Black Ash Sportsmen, Inc. Blair Public School Stillwater Rifle & Pistol Club Boy Scouts of America Broken Bow Public Schools Tri City Gun Club Bucktail Council Calera Public Schools Tulsa Bird Dog Association Chester County Council Cameron Public Schools Columbia Montour Council Chandler FFA Cradle of Liberty Council Colbert Chapter Oregon $286,701 Hawk Mountain Camp Trust, Oreland Troop 1 Covington-Douglas Public Schools 4-H Organizations and Clubs Hawk Mountain Council Crowder Public Schools Eagle Cap Shooter Educational Alliance Hudson Valley Council Cushing Public Schools Oregon 4-H Foundation Mason Dixon Council Drummond Public Schools Benton County Moraine Trails Council Durant Schools Yamhill County 4-H Leaders Association Northeastern PA Council Elgin Chapter Union County 4-H Leaders Association Pennsylvania Dutch Council Eufaula Public Schools Albany Gun Club Brockway Schools and Community Education Fort Supply Shooting Sports Club Big Timber Rifle & Pistol Club Foundation Glencoe Public Schools Boy Scouts of America Brockway Sportsmen’s Club Schools and Hooker Chapter Crater Lake Council Community Education Foundation Keota School Cascade Civil War Society Bucktail Rod & Gun Club Lone Grove Public Schools Coburg Police Department Butler City Hunting & Fishing Club Midway FFA Colonel Allison Junior Rifle Club California University Student Association, Inc., Newcastle Public Schools Divide Camp Sport Shooting Association Prague Public Schools Douglas Ridge Rifle Club Junior Program Canawacta Rod & Gun, Inc. Taloga Schools East End Rod & Gun Club Castlewood Rod & Gun Club Hooker Masonic Lodge Eddyville Charter School Chubb International Shooting Sports, Inc. Hydro-Eakley High School Four Corners Rod & Gun Club Educational Clairton Sportsmen’s Club, Inc. Junior Reserve Officers’ Training Corps Foundation Cocalico Sportsmen’s Association (JROTC) Junior Reserve Officers’ Training Corps Columbia Fish & Game Association Junior Crooked Oak High School (JROTC) Rifle Program Tulsa Public Schools, Will Rogers Klamath County School District, Henley Colver Sportsmen’s Club High School High School Conemaugh Township Area School District, Locust Grove Outdoor Education Madras High School Senior High Rifle Team McCurtain Public School Redmond High School Conneaut Lake Sportsmen’s Association National Rifle Association of America Reynolds High School ® Corry Rod & Gun Club, Inc. Eddie Eagle GunSafe Program National Rifle Association of America Daisytown Sportsmen’s Club Youth Education Summit (Y.E.S.) Brownells NRA Day Program Dayton District Sportsmen, Inc. Northeast Oklahoma Association of Eddie Eagle GunSafe® Program

DuBois Area Catholic School 2015 Annual Report Homeschools National School Shield DuBois Rifle & Pistol Club, Inc. Oklahoma City Gun Club Refuse To Be A Victim® East Penn School District, Emmaus High Oklahoma State University Shotgun Youth Education Summit (Y.E.S.) School Junior Rifle Club Sports Club Youth Hunter Education Challenge (YHEC) East Stroudsburg School District, South High Oklahoma Youth Shooting Sports Association Oregon Paralyzed Veterans of America School Rifle Team Oregon State Scholarship Committee 16 1

7 Foundation NRA Foundation GRANTS Pennsylvania State UniversityRifle Club Pennsylvania State Pennsylvania SkeetShootingAssociation Pennsylvania Rifle&PistolAssociation Pennsylvania Parks&Forests Foundation Pennsylvania InstituteforConservation Penncrest School District Penn Dutch Sportsmen Club Palmyra Sportsmen’sAssociation Otto-Eldred RegionalYouth Trap Team Ontelaunee Rod&GunClub CivilRightsDefenseFund NRA Northern CambriaHighSchool Rifle Team School District North Star North Pocono School District North FayetteTownship Police Department North EastHunting&FishingClub,Inc. Nessmuk Rod&GunClub National Wild Turkey Federation, Jerry Junior ReserveOfficers’ Training Corps Jerome Sportsmen’sAssociation Indiana CountyJuniorMarksmanship Hunters SharingtheHarvest Hughesville HighSchool Archery Club Holmesburg Fish&Game Herminie Number2GameAssociation Hellertown Sportsmen’sAssociation Harrisburg Hunters&AnglersAssociation Guthsville Rod&GunClub Greene CountyDepartmentofRecreation Friends ofMt.Pisgah,Women intheWilds Friedensburg Youth HunterEducation Frazier SimplexRifleClub Forest HillsRifle Team Fayette SportsmenLeagueYouth Hunter Fathers intheField Everett SportsmanJuniorRifleClub Everett AreaSchool District Evans CitySportsman’sClub Erie CountySportsmen’sLeague Ellwood/Wampum Rod&GunClub Elizabeth Township Sportsmen’sAssociation National RifleAssociationofAmerica TrainingMystic Mountain Center Meyersdale AreaSchool District Mechanicsburg Sportsmen’sProtective Mechanicsburg 4-HShootingSportsClub McGuffey School District Rod&GunClub Matamoras Mason-Dixon ClayBusters,Inc. Lower ProvidenceRod&GunClub Library Sportsmen’sAssociation Liberty HighSchool RifleClub Lehigh Valley Scholastic ShootingTeam Lawrence CountyYoung Guns Law EnforcementofWestmoreland County Lambs CreekSportsman’sClub Lake EdinboroSportsman’sLeague, Kutztown AreaSchool District Kane Fish&GameClub Kalbfus Rod&GunClub,Inc. Education Zimmerman MemorialChapter (JROTC) Training Unit Challenge Education ChallengeProgram Association Edinboro UniversityRifleClub Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe Collegiate ShootingScholarship Program DayProgram Brownells NRA Wilson HighSchool Norwin HighSchool Ligonier Valley HighSchool Dallastown AreaSchool District ® Program Tiverton Rod&GunClub Smithfield Sportsman’sClub Cross Trail Outfitters Clemson University ScoutsofAmerica Boy Belton GunClub,Inc. Abbeville Police Department 4-H OrganizationsandClubs South Carolina National RifleAssociationofAmerica Manville Sportsmen’sRod&GunClub,Inc. IslandRhode Youngwood Sportsmen’sAssociation,Inc. Woodland HillsRifle Booster Team Parent Wilkes-Barre Rifle&PistolClub Wilderness Wildlife Museum White OakShootingClub White OakRod&GunClub Western Pennsylvania Sportsmen’sClub Waynesburg Sportsmen’sAssociation Waynesburg CentralHighSchool RifleClub Washington HighSchool Rifle Team Warrior Rifle Boosters Team Warren CountyHotShots Valley InnSportsman’sAssociation Valley Gun&CountryClub Tunkhannock AreaArchery Club Troy JuniorSportsmen’sClub Trafford Sportsman’sClub Tidioute CommunityCharterSchool, Bucktails The York RifleRangeAssociation,Inc. The LongBranch Sportsmen’sClub Team PineGroveYouth HunterEducation Sullivan CountySchool District,SullivanCounty Sugar GroveAmVets Trap Post 50 Club St. ClairTremont Trap &FieldClub Springs Rod&GunClub Southern ChesterCountyYouth Camps YMCA South Mountain Somerset AreaSchool District Slippery Rock UniversityFoundation, Inc. Sigel Sportsmen’sClub Sheffield Rod&GunClub Shanksville-Stonycreek School District Shaner Sportsmen’sClub,Inc. Scullton Rod&GunClub ElkLick SchoolSalisbury District ClubInternational-PittsburghChapter Safari Roscoe Sportsmen’sAssociation Rockwood AreaSchool District River JunctionShootistSociety Plumstead Township Police Explorers Pitcairn MonroevilleSportsman’sClub Pine GroveSportsman’sAssociation Perry Township GameAssociation Pennsylvania Youth HunterEducation Association Sportsmen’s Club Challenge High School ShootingSportsClub Shooting League Post 5708 Challenge Council Summerville Lynches River Cross Trail OutfittersofSouthCarolina,Inc. Black River Palmetto Council Palmetto Explorers,ShotgunTeam Clemson UniversityFoundation Eddie EagleGunSafe Pendleton Area Newberry Eagles

® Program $103,095 $7,975 Junior ReserveOfficers’ Training Corps Gallman GatorsArchery Club Edgefield CountySheriffOffice 4-H OrganizationsandClubs Tennessee 4-H OrganizationsandClubs South Dakota Junior ReserveOfficers’ Training Corps Codington CountySportsman’sClub Charles MixShootingSports Brookings GunClub Better Ponca Foundation, Park Ponca State Beacon HillRifle&PistolClub South CarolinaDepartmentofNatural ChristianSchool South AikenBaptist CountySheriff’sOffice Saluda Rocky CreekYouth ClayDusters Robert E.LeeAcademy Newberry JuniorPistolClub Newberry CountySheriff’sOffice Newberry Academy National Wild Turkey Federation, JakesProgram YMCA CampGreenville YMCA Waterloo School Archery Elementary Team Trail CampAiken LifeUSA, Town ofJohnstonPolice Department PistolClub The Citadel National RifleAssociationofAmerica Live OaksClayDusters King AcademySportingClaysTeam North CentralChapterParalyzedVeterans National RifleAssociationofAmerica Mount MartyCollegeTrap ShootingTeam Meade CountyRangeMasters Lemmon Trap &SkeetClub Lawrence CountyShootingSports Siouxland Youth ShootersOrganization BrushRifle&Pistol Club Sage (JROTC) (JROTC) Resources of America Refuse To BeAVictim National School Shield University ofTennessee Covington 4-HFoundation, South Dakota Cordewzees South Dakota State University State South Dakota Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe West-Oak HighSchool Walhalla HighSchool South FlorenceHighSchool Ridge View HighSchool Pendleton HighSchool HighSchool North Augusta Nation Ford HighSchool Midland Valley HighSchool Dorchester School District Clover HighSchool Central HighSchool Broome HighSchool Bluffton HighSchool Aiken CountyPublicSchools Youth EducationSummit(Y.E.S.) Lincoln HighSchool Deuel CountyShooters Fayette County Dickson County Coffee CountyClaybusters Douglas County Clay County

® ® Program $253,737 $76,152 Gibson County National Rifle Association of America Dallam County Lynchburg Claybusters Eddie Eagle GunSafe® Program DeWitt County Madison County National School Shield Ellis Shooting Sports 4-H Club Monroe County Range Programs Floyd 4-H Parent-Leaders Association Obion County Refuse To Be A Victim® Glen Rose 4-H Club Shelby County Youth Education Summit (Y.E.S.) Goliad 4-H Hot Shots Shotgun Club Tipton County Clay Busters National Wild Turkey Federation, Dixie Land, Goliad 4-H Shotgun Project Weakley County Dickson Clay Commanders Grayson County White County Putnam County Sheriff’s Department Grimes County American Legion Post 104 Quail Forever, Mid-South Chapter 3149 Guadalupe County American Legion Post 23 Quail Forever, Music City Chapter Harrison County Arlington High School Trappers Riverdale High School Haskell County Ashland City Police Department Rossville Christian Academy Trap Hays 4-H Shooting Sports Bartlett High School Trap Team Shooting Team Henderson County Battle Ground Academy Saint Agnes Trap Team Jasper 4-H Gun & Bow Club Benton Police Department Saint Benedict at Auburndale High School Kimble County Bolton Trap Club Saint George’s Independent School Knox County

Boy Scouts of America Saint Mary’s Episcopal School La Ward 4-H Rifle Club Foundation Cherokee Area Council Sale Creek Middle School, High School Liberty County Chilhowee Rod & Gun Club, Panthers Shooting Sports Magnolia 4-H Shooting Sports GRANTS Venturing Crew 308 Selmer Police Department Project Group Middle Tennessee Council Shelbyville Central High School Trap Team McCulloch County Sequoyah Council Signal Mountain High School Medina County Briarcrest Christian School, Trap Club Smoky Mountain Lions Rifle Club Menard County Cedar City Straights Trap Team Soddy Daisy High School Scholastic Clays Montgomery 4-H Shooting Sports Christian Brothers High School Southern Shooting Sports Nacogdoches 4-H Shotgun Sports Christ’s Legacy Academy, Inc. Spring Hill Clay Target Team Parent Booster On Target 4-H Shooting Club Clarksville Christian School Organization Pecos County Clarksville High Clay Target Team Summertown High School Clay Target Team Randall County Coffee County Central High School Summit High School Parent Teacher Student Rio Medina Clay Busters Organization Roberts County Collierville High School Trap Team Booster Club Tennessee Youth Education Shooting Sports, Rogers 4-H Club Columbia Academy GunDawgs Hamilton County Clay Team Santo 4-H Shooting Sports Concerned Parents Corporation, Tennessee Shooting Sports Association, Inc. Schleicher County Venturing Crew 700 Tennessee Youth Education Shooting Sports Shooting Star 4-H Club Concord Road Church of Christ, Trail Life Troop University of Tennessee Stampede Creek 4-H Club Covenant Ranch, Inc. Henry County Youth Shooting Program Travis County Cumberland County Sheriff’s Department US Conference of Catholic Bishops, Trinity County Downtown Presbyterian Church, Manassas Camp Marymount Upshur 4-H Shotgunners Scholastic Clay Target Program William Blount Shooting Team Victoria 4-H Rifle Eagleville High School Trap Team Wounded Warriors in Action Foundation Victoria County Fairfield Glade Sportsman’s Club, Inc. Young Marines, Lt. Alexander Bonnyman Unit Webb 4-H Shooting Sports Fayette Academy Wheeler County FFA (Future Farmers of America) Williamson County Tennessee FFA Foundation, Inc. Texas $1,293,428 Wilson 4-H Rifle First Assembly of God Church, 4-H Organizations and Clubs Young County FACS Crusader Trap Baylor County Val Verde Shooting Sports Fred J. Page High School Bexas County Washington County GMS Generals, Shooting Sports Cactus Country Wilson 4-H Shooting Club Harpeth Scholastic Shooting Sports Foundation Erath County Amarillo Police Department Heartshot Ministries Fayette County Austin Rifle Club, Inc. Heritage High School Shooting Team Field & Stream Club Baylor County Youth Trap Shooting Club Hixson Middle School Archery Team Helotes 4-H Shooting Club Boerne Police Department Houston High School Trap Team Hood County Boy Scouts of America Independence High School Clay Target Club Humble 4-H Alamo Area Council John Hunt Morgan Camp, Lavaca County Golden Spread Council Corn Field Shooting Team Montgomery Shotgun Team Northwest Texas Council Junior Reserve Officers’ Training Corps Moore County South Plains Council (JROTC) Panola County South Texas Council Alvin C. York Agricultural Institute Parker County St. Francis Episcopal Church, Clarkrange High School Rimfire 4-H Troop 180, Okee-Tuklo District, Cookeville High School Sherman County East Texas Area Council Gallatin High School Texas 4-H, Inc. Yucca Council, Inc. Lebanon High School Brazos County Brady Police Department Stewarts Creek High School Andrews County Adult Leaders’ Brazos County Attorney’s Office LaVergne High School Trap Team Association Brazos County Constable Precinct 1 Lawrence County High School Shooting Team Angelina County Brazos County Constable Precinct 2 Lewis County Schools Bowie County Brazos County Sheriff Martin Methodist College Burleson County Brown County Sheriff’s Office Middle Tennessee Christian School Clay Burnet County Burleson Hugh School Target Team Cherokee County Burnet County Sheriff’s Office Midsouth Marksmen Callahan County Sheriff’s Office

Christian Life Preparatory School 2015 Annual Report Milan Police Department Coleman County City of Cibolo Monroe County Shooters Comal County City of Crane Police Department Montgomery Bell Academy Rifle Team Cooke County City of Marble Falls Police Department Montgomery Bell Academy Trap Team Crosby 4-H Shooting Sports City of Nassau Bay Montgomery County Sheriff’s Office Crosby 4-H Shotgun Team Cleveland ISD Police Department N2Dust Shotgun Sports Crane County Sheriff’s Office 18 1

9 Foundation NRA Foundation GRANTS Junior ReserveOfficers’ Training Corps Jasper Youth ShootingSportsAssociation Henderson OutdoorSports Henderson CountyWildlife Committee Precinct7 Harris CountyConstable Precinct6 Harris CountyConstable Precinct5 Harris CountyConstable Precinct4 Harris CountyConstable Precinct1 Harris CountyConstable Church Harmony Baptist Golden Triangle GunClub Fouke ShootingTeam School District/Fouke Fort Concho Foundation Forever Foundation ofTexas, Texas Wildlife FFA (FutureFarmersofAmerica) Fayette CountySheriff’sOffice Fathers intheField JuniorShooting Earl GrahamPost 159 Eagle HeightsFellowship ofMontBelvieu,Inc. Police Department Dalhart ISD National RifleAssociation ofAmerica Montgomery CountySheriff’sOffice Precinct3 Montgomery CountyConstable WarriorsMilitary Support Foundation Midland Young GunsRifle&PistolClub McCulloch CountySheriffOffice Marsh ManiacsShootingSportsClub of Longview Police Department YouthLone Star Outdoors La JoyaIndependentSchool District Kids OutdoorZone Kendall CountySheriff’sDepartment (JROTC) Association Foundation Sports Club Chambers CountyTexas Smithson Valley HighSchool Richards IndependentSchool District Pewitt IndependentSchool District New DianaIndependentSchool District Club Navarro Booster Kelton IndependentSchool District, Denison Chapter Alvin IndependentSchool DistrictAlumni Alvarado FFA Brownells NRA DayProgram Brownells NRA Ysleta IndependentSchool District Wharton HighSchool West OsoHighSchool Weslaco HighSchool Waller HighSchool South HoustonHighSchool Socorro HighSchool Academy MarcosBaptist San Roy MillerHighSchool Northside IndependentSchool District, Karen Wagner HighSchool Horizon HighSchool Hirschi HighSchool Harlingen HighSchool Granbury Rifle Team Goose CreekMemorialHighSchool Fredericksburg HighSchool Foy H.MoodyHighSchool Fort Worth BenbrookMiddle ISD, Comal IndependentSchool District, Club Clements Booster Clear FallsHighSchool Caney CreekHighSchool Trap Team Trap Team Kelton Chapter Tom C.ClarkHighSchool High School Canyon LakeHighSchool Parkland HighSchool J.M. HanksHighSchool Del Valle HighSchool Weber CountyGovernment Utah Scholastic ClayTargetUtah Program Academy Military Utah The CowboysofUtah ShootingSportsParkSpecial Southern Utah Perry City, Three MileCreekRange ShootingClub, SpringvilleJunior Pacific State National RifleAssociation ofAmerica Caledonia Forest &StreamClub ScoutsofAmerica Boy 4-H OrganizationsandClubs Vermont Junior ReserveOfficers’ Training Corps Rod&GunClub Hill AFB Carbon CountyNorthSpringsShootingRange ScoutsofAmerica Boy ElderWildlifeBox Federation, Inc. 4-H OrganizationsandClubs Utah Youth Target Foundation, EastTexas Youth Target Foundation, CowCreekClay Young HuntersUnlimited Woods &Water KidsAdventures,Inc. West Texas College FriendsofNRA Webb CountySheriff’sDepartment Victoria Foundation Rotary University ofTexas System Trinity Oaks The Alamo,The DaughtersofRepublicTexas Texas RifleAssociation Foundation State Texas RifleAssociation State Texas Institute Military Texas AdaptiveAquatics,Inc. Texas A&MTrap &Skeet Texas A&MPistolTeam Tarleton University, State The Rifle Team Tarleton UniversityTrap State &SkeetClub Schulenburg Police Department Schreiner University JacintoCountySheriff’sDepartment San Pharr Rifle&PistolClub Palmview Police Department Orange CountyClayBusters Northwest Texas Field&Stream Association North HeightsJuniorHighSchool andArkansas National RifleAssociationofAmerica Service District Rifle Club (JROTC) Trap Shooters Target Club Scholarship Trap Team High School Texarkana Razorback Arkansas Wasatch Wing andClayYouth Riverton ShootingClub Youth EducationSummit(Y.E.S.) Refuse To BeAVictim National School Shield Green Mountain Council Green Mountain University ofVermont NationalParksCouncil Utah Trapper Trails Council LakeCouncil Great Salt County Uintah Iron County Youth HunterEducationChallenge(YHEC) Youth EducationSummit(Y.E.S.) Eddie EagleGunSafe Eddie EagleGunSafe Ogden HighSchool Independence HighSchool Shooting Team ® ® ® Program Program $135,980 $48,331 4-H OrganizationsandClubs Virginia Big BrothersSistersofWinchester, American LegionPost 72 JuniorShooters American LegionPost 290 Boy ScoutsofAmerica Boy Izaak Walton LeagueofAmerica, Junior ReserveOfficers’ Training Corps J.W RobinsonJr. SecondarySchool Vermont Rifle&PistolAssociation State Vermont JuniorShootingSportsAssociation Vermont Federation ofSportsmen’sClubs,Inc. University ofVermont ShootingSportsClub Northfield MiddleandHighSchool Rifle Team Northeast KingdomSkeetClub Frederick and ClarkeCounties Lynchburg Chapter (JROTC) Northern VA 4-HEducationalCenter, Jamestown 4-HEducationalCenter Holiday Lake4-HCenter Freeland 4-HShootingClub Frederick County Floyd County Southwest Virginia 4-HEducational Rockingham County Virginia Tech Foundation, Inc. Virginia Beach Top Shooters W.E. Skelton4-HEducationalConference American LegionPost 128, Stonewall Jackson AreaCouncil Heart ofVirginia Council Council Blue RidgeMountains Youth EducationSummit(Y.E.S.) Pittsylvania CountySchools, Lee County Franklin CountyHighSchool William ByrdHigh School Warren County Center, Inc. Center at Smith Mountain Lake Center atSmithMountain Venture Crew174 Chatham HighSchool Smyth County4-HShootingSports Skyline Seven Bends Rockbridge P-town HotShots Prince Edward County Powhatan Nottoway Regional New Kent Four Rivers Nelson County Montgomery County Middlesex Loudoun County Little NorthMountain King William County Greensville-Emporia Goochland County Fauquier County Cumberland County Craig County Chesterfield County Chatham Campbell County Brunswick County Botetourt Bedford County County Augusta Appomattox Amelia 4-HShootingEducationClub 4-H Targeteers ShootingSports 4-H PatriotShootingClub Association $272,378 Lafayette Gun Club of Virginia, Inc. Washington Scholastic Clay Target Program, Oshkosh Wildcats High School Trap Lake Braddock High School Rifle Club Colville Shooting Stars Shooting Team National Rifle Association of America West Seattle Sportsmen’s Club Outdoor Heritage Education Center Collegiate Shooting Scholarship Program West Seattle Totems Pioneer Sportsmen’s Club, Platteville Refuse To Be A Victim® Prairie du Chien School District Youth Education Summit (Y.E.S.) Rice Lake Warbirds Shooting Team North Stafford High School West Virginia $109,304 Southwest Wisconsin Technical College Marksmanship Team 4-H Organizations and Clubs Springbrook Sportsman’s Club, Inc. Paralyzed Veterans of America, Brooke County Superior Range Shooters Club, Inc. Mid-Atlantic Chapter Pocahontas County 4-H Foundation Union High School Central Falcons Radford University Trap & Skeet Club West Virginia University Trap & Skeet Rappahannock Pistol & Rifle Club Inc. Boone County Wisconsin Department of Natural Resources Ridge Rifle Association Doddridge County Wisconsin Hunter Education Instructors Virginia Military Institute Foundation, Inc. Monroe County Association Virginia Rifle & Pistol Club at the University Ohio County Wisconsin Paralyzed Veterans of America of Virginia West Virginia University Foundation, Inc. Virginia Shooting Sports Association Monongalia County Wyoming $420,136 West Springfield High School Rifle Club West Virginia 4-H Shooting Sports Foundation

Beckley Gun Club 4-H Organizations and Clubs GRANTS Boone County Career and Technical Center, Converse County Washington $196,620 Parks and Recreation Lincoln County 4-H Organizations and Clubs Boy Scouts of America Salt River Shooters Kitsap County Ashbury United Methodist Church, Troop 42 Star Shooters Washington State University Laurel Highlands Council University of Wyoming Kittitas County Brassmasters, Inc. Big Horn County Pure Country Henderson Wilds Sportsman’s Club Laramie County Upper Nisqually Howell’s Mill Christian Assembly Weston Count American Legion Quincy Gun Club Izaak Walton League of America, Wyoming State 4-H Foundation American Legion S AL Wilcox Post 234 Mountaineer Chapter Hot Springs County Boy Scouts of America Junior Reserve Officers’ Training Program Niobrara County Grand Columbia Council, Post 2091 (JROTC) Cody Clay Crushers Inland Northwest Council 611 Greenbrier East High School Cody Steel Shooters Mount Baker Council Wayne County, Wayne High School Fort Fetterman Sportsman’s Association Central Whidbey Sportsman’s Association Lincoln County JMP Jackson Hole Gun Club, Inc. Centralia High School Rifle Club/Centralia National Rifle Association of America Junior Reserve Officers’ Training Corps High School Eddie Eagle GunSafe® Program (JROTC) Centralia Rifle Club and Junior Division Refuse To Be A Victim® East High School Clark County Competitive Shooters Youth Education Summit (Y.E.S.) National Rifle Association of America Davenport Gun & Game Club Peterstown Schools Archery Program Brownells NRA Day Program Fire Mountain A.S.H. Putnam County Gun Club Eddie Eagle GunSafe® Program Junior Reserve Officers’ Training Corps Saint Peters United Methodist Church Youth Education Summit (Y.E.S.) (JROTC) West Virginia Wildlife Federation Polestar Outdoors Bethel High School White Horse Firearms and Outdoor Rocky Mountain Gun Club Franklin Pierce Schools District, Education Center Sheridan County Sportsman’s Association Washington High School West Virginia Division of Natural Resources University of Wyoming Shotgun Sports Club Graham Kapowsin High School Upton Gun Club, Wyoming State Youth Hunter Marysville-Pilchuck High School Education Challenge Port Angeles High School Wisconsin $262,477 Upton Young Guns Prairie High School American Legion, Frank E. Malone Post 0113 Western Wyoming Rifleman’s Association, Inc. Shelton High School Arcadia Sportsman’s Club, Inc. Worland Shooting Complex Snohomish High School Berlin Conservation Club Foundation Wyoming State Trap Association Walla Walla High School Boulder Junction Shooting Range Woodrow Wilson High School Boy Scouts of America Juniors AIM Bay-Lakes Council Kettle Falls Gun Club Chippewa Valley Council Lynden Shotgun Club Northern Star Council Mason County Sportsman’s Association, Inc. Boy’s & Girl’s Brigade Association National Rifle Association of America Burlington Conservation Club Brownells NRA Day Program Challenge the Outdoors, Inc. Eddie Eagle GunSafe® Program ® Chaseburg Rod & Gun Club Refuse To Be A Victim Columbus Sportsman’s Association Youth Education Summit (Y.E.S.) Eau Claire Area High School Trap Team North Cascades Sportsmen’s Club Fond du Lac High School Trapshooting Team Okanogan County Sheriff’s Office Friends of Camp Anokijig Pierce County Sportsmen’s Council Friends of Poynette Game Farm Seattle Skeet & Trap Club Hayward Rod & Gun Club Selah Clay Busters Heroes’ Hunt for Wounded Warriors Shelton High School Rifle Team Hudson Rod, Gun & Archery Tacoma Sportsmen’s Club LaCrosse Rifle Club, Inc. Tumwater High School Rifle Club Mosinee Sportsmen’s Alliance Vancouver Rifle & Pistol Club MRC Sportsman’s Club, Inc.

VFW Post 1561, Boyer Daniel National Rifle Association of America 2015 Annual Report W.F. West High School Rifle Team Eddie Eagle GunSafe® Program Walla Walla Gun Club Refuse To Be A Victim® Youth Education Summit (Y.E.S.) Osceola Rod & Gun 20 Office of Advancement Ring of Freedom

NRA Ring of Freedom recognizes annual gifts of $1,000 or THE more to the NRA or any of its affiliates,CORPORATE including The NRA HERITAGE SM Foundation. Permanent recognition is given for cash gifts of $25,000 or more or planned gifts of $100,000SM or more. GIVINGDonors who have responded SM SOCIETY to the NRA’s most urgent challenges with cash gifts of $1,000,000 or more SM are inducted into the NRA Golden Ring of Freedom. Benefits of joining the NRA Ring of Freedom family include: invitations to special events at NRA Annual Meeting, recognition in an honor roll of donors, subscription to NRA Ring of Freedom Magazine, and invitations to join regional and national NRA Ring of Freedom events. GOLDEN SOCIETY CASH AMOUNT THOMAS PAINE $1,000–$24,999 JAMES MADISON $25,000–$99,999 ADDA ALEXANDER HAMILTON $100,000–$499,999 BUCK GEORGE WASHINGTON $500,000–$999,999 GOLDEN $1,000,000 +

SOCIETY PLANNED GIFT AMOUNT HERITAGE SOCIETY AMBASSADOR UP TO $999,999* CHARLTON HESTON SOCIETY $1M AND UP*

The Ring of Freedom’s grand mission is to gather the resources required to preserve the Second AmendmentWOMEN’S and surround its blessings with impenetrable protectionLEADERSHIP in perpetuity. Through your leadership,SM never againFORUM will this peerless liberty suffer the blatant infringement and cultural disdain it barely survived over the past quarter-century. 2015 Annual Report 21 Your Legacy of FREEDOM

to Support Your NRA: The NRA Foundation offers many flexible options for WAYS individuals, organizations, and companies to support the Foundation’s work. Call 1-877-NRA GIVE (1-877-672-4483) for details on the options available. These include:

Current Contributions Contributions through Planned Gifts That Provide a Planned Gift Income to Donor(s) Online Contributions Payroll Deduction Will or Living Trust Bequests Charitable Remainder Trusts Employer Matching Gift Life Insurance Charitable Gift Annuities Workplace (CFC/United Way) Retirement Plans, IRA-401k (Funded by Cash, Appreciated Memorial Gifts Real Estate Stocks, Firearms, Real Estate) Gifts in Kind Charitable Trusts Firearms Real Estate Stocks, Bonds

Wills and Bequests Donors can bequeath a specific amount or a percentage of their estate to The NRA Foundation. Contributions by bequest are deductible from the taxable estate as a charitable gift. As an alternative, The NRA Foundation can be named a contingent beneficiary in the event the first-named beneficiary (ies) should not live to receive the inheritance. If your will is already prepared, a simple codicil (a supplement or addition) can be added to the existing document. Since local laws differ, a professional advisor should be contacted for the preparation of all wills and trusts. As a reference, The NRA Foundation recommends that members and friends consider the following language for use in their wills. General bequest language is as follows: I give, devise, and bequeath to The NRA Foundation, Inc., 11250 Waples Mill Road, Fairfax, Virginia 22030, the sum of $______(or here otherwise describe the gift) for its general purposes as such shall be determined by its Board of Trustees. Bequest language to benefit The NRA Foundation endowment is as follows: I give, devise, and bequeath to The NRA Foundation, Inc., 11250 Waples Mill Road, Fairfax, Virginia 22030, the sum of $ ______(or here otherwise describe the gift) for its endowment. 2015 Annual Report 2015 22 Report of the TREASURER NRA Foundation, Inc. experienced continued growth and success in 2015, with net THE proceeds from Friends of NRA events of $30.2 million. As a result, the Foundation awarded a record $33.5 million in grants for programs such as youth; range development and improvement; training, education and safety; and wildlife and natural resources. During 2015, 89 cents of every dollar spent went to grants and programs. With steady growth since inception in 1990, the Foundation’s financial position is strong, with nearly $78.1 million in cash and investments and $115.8 million in net assets at December 31, 2015. Management of the Foundation’s investment portfolio is assigned to various external managers under the supervision of the Treasurer, with oversight by a committee of the Board of Trustees. The portfolio NRA Foundation is allocated among equity and fixed income investments in a manner that maximizes investment returns 23 at appropriate risk levels. Page 12 Page 67 Expenditures

50

40

30

20

10 Distribution of Investment Holdings 0 2015 Expenditures As of 12/31/15 Page 67 Support Administrative Page 67 Money Market Program Services 3% PageFundraising 12 6% Fixed Income Securities 89% 8% Expenditures Equity Securities 25% 69% 120

50 100

40 80

60 30

40 20 20 10 0

0 Page 67 Page 67 PagePage 6767 Assets Page 12 Page 67 Page 12 Expenditures SupportHoldings GrowthExpenditures In Support Growth In Net Assets ($ in millions) ($ in millions) 50 120$120 50$50 Unrestricted

40 100100 40 40 Contributions Temporarily 8080 30 Restricted 30 30 6060 20 Net FONRA 20 20 Events 4040 Permanently Restricted 10 10 10 2020

0 0 0 0 0 2012 2013Page 2014 67 2015 2012 2013 2014 2015 Page 67 Page 67 Support SupportPage 67 Assets Holdings 120 120 2015 Annual Report 100 100 80 80 60 24 60 40 40 20 20 0 0 Page 67 Page 67 Page 67 Assets Page 67 Assets Holdings Holdings To the Board of TRUSTEES

To the Board of Trustees THE NRA FOUNDATION, INC.

Report on the Financial Statements We have audited the accompanying financial statements of The NRA Foundation, Inc. (the Foundation), which comprise the statements of financial position as of December 31, 2015 and 2014, and the related statements of activities and cash flows for the years then ended and the related notes to the financial statements, (collectively, 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 financial 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 internal 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 The NRA Foundation, Inc. as of December 31, 2015 and 2014, 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. NRA Foundation McLean, Virginia 25 March 8, 2016 The NRA Foundation, Inc. Statements of Financial Position AS OF DECEMBER 31, 2015 AND 2014

2015 2014 Assets Cash and cash equivalents $ 13,283,813 $ 18,958,456 Investments 64,771,199 59,996,365 Pledges and contributions receivable, net 5,132,133 4,636,176 Accounts receivable, net of allowance of $15,750 and $5,250, respectively 621,821 899,050 Inventory, net 11,928,188 12,337,536 Property and equipment, net 1,044,003 1,151,779 Other assets, principally museum collections, net 25,406,011 24,238,859 Split interest agreements 975,694 1,047,224 Total assets $ 123,162,862 $ 123,265,445

Liabilities and net assets Accounts payable and accrued liabilities $ 1,566,686 $ 1,985,258 Due to affiliates 3,430,336 4,287,738 Grants payable 68,965 64,364 Annuities payable 2,317,960 2,208,973 Total liabilities 7,383,947 8,546,333

Net assets Unrestricted 14,891,941 17,048,517 Temporarily restricted 37,015,701 37,120,459 Permanently restricted 63,871,273 60,550,136 Total net assets 115,778,915 114,719,112

Total liabilities and net assets $ 123,162,862 $ 123,265,445 2015 Annual Report

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. 26 2 7 NRA Foundation FINANCIAL Statements THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. FINANCIAL PART THESE OF AN INTEGRAL ARE NOTES ACCOMPANYING THE 2014 31,2015AND DECEMBER ENDED YEARS THE FOR Statements ofActivities Foundation,Inc. The NRA Net assets,endofyear Net assets,beginningofyear Change innetassets Net assets,endofyear Net assets,beginningofyear Change innetassets Fundraising Administrative Program Expenses Assets releasedfromrestrictions Other income Change invalueofsplitinterestagreements Net investmentincome Contributions, net Friends ofNRAproceeds$65,665,683net Revenue andothersupport Fundraising Administrative Program Expenses Assets releasedfromrestrictions Other income Change invalueofsplitinterestagreements Net investmentloss Contributions, net Friends ofNRAproceeds$65,530,160net Revenue andothersupport of directbenefitexpenses$35,202,659 of directbenefitexpenses$35,360,948 Total expenses Total revenueandothersupport Total expenses Total revenueandothersupport 51230 53924 130 30,463,024 $ 51,350 $ 15,309,294 $ 15,102,380 $ 48191$ 70571$ 38123$ 115,778,915 $ 63,871,273 $ 37,015,701 $ 14,891,941 $ 70857$ 71049$ 05016$ 114,719,112 $ 60,550,136 $ 37,120,459 $ 17,048,517 $ 48846 52218 858 30,169,212 $ 28,598 $ 15,272,138 $ 14,868,476 $ netitdRestricted Unrestricted netitdRestricted Unrestricted 90855 ,1,4 42976 46,784,682 4,229,736 38,268,734 3,516,441 39,038,505 45,961,293 43,804,717 70857 71049 05016 114,719,112 60,550,136 37,120,459 17,048,517 62876 36408 63040 106,203,164 56,320,400 33,604,018 16,278,746 33,305,256 (17,432,946) 17,432,946 40,859,616 (16,686,192) 16,686,192 11,718,035 (2,156,576) 3,493,940 1,469,538 5,729,832 3,710,664 1,391,013 1593 (1,156,488) (145,963) 769,771 589,454 183,893 677,977 — — eprrl Permanently Temporarily eprrl Permanently Temporarily 1478 ,2,3 47,021,096 3,321,137 (104,758) 3,516,441 3,174,777 1,780,955 2,448,178 1478 3,321,137 (104,758) 684,361 17,606 — — — — — — — — — — 2015 2014 Restricted Restricted 4,229,736 11,614,653 4,103,866 17,492,084 3,325,871 3,6)(1,339,314) (36,863) 74,520 3,531 38,268,734 — — 33,305,256 — — — — — — 40,859,616 — — — — — 45,961,293 1,059,803 8,515,948 3,493,940 1,469,538 3,433,190 3,710,664 1,391,013 Total Total 589,454 684,361 677,977 21,137 — — The NRA Foundation, Inc. Statements of Cash Flows FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014

2015 2014 Cash flows from operating activities Change in net assets $ 1,059,803 $ 8,515,948 Adjustments to reconcile change in net assets to net cash used in operating activities: Amortization and depreciation 129,626 131,838 Provision for losses (gains) on pledges, contributions and accounts receivable 86,500 (21,000) Provision for (gains) losses on inventory (295,000) 104,000 Provision for losses on other assets 5,100 12,900 Provision for losses on land — 27,548 Donated assets, museum collections (279,000) (483,994) Donated assets, securities unrestricted and temporarily restricted (73,834) (43,657) Contributions restricted for investment in endowment (3,505,168) (2,000,437) Net realized and unrealized loss (gain) on investments 2,998,626 (1,768,615) (Decrease) increase in discount on pledges receivable (14,152) 21,258 Increase in value of split interest agreements (21,136) (776,476) Changes in assets and liabilities: Increase in pledges and contributions receivable (557,805) (3,363,843) Decrease (increase) in accounts receivable 266,729 (63,967) Decrease (increase) in inventory 704,348 (4,034,183) (Increase) decrease in other assets (908,826) 57,650 (Decrease) increase in accounts payable and accrued liabilities (418,572) 413,430 (Decrease) increase in due to affiliates (857,402) 489,221 Increase (decrease) in grants payable 4,601 (664,498) Total adjustments (2,735,365) (11,962,825) Net cash used in operating activities (1,675,562) (3,446,877)

Cash flows from investing activities Purchases of investments (22,575,473) (13,947,143) Proceeds from sale of investments 14,875,847 13,229,723 Purchases of property and equipment (6,276) (52,546) Proceeds from sale of land — 272,452 Net cash used in investing activities (7,705,902) (497,514)

Cash flows from financing activities Proceeds from contributions restricted for: Investment in endowment 3,505,168 2,000,437 Investments subject to new annuity agreements 325,879 99,185 Proceeds from split interest agreements 80,918 84,176 Payments on annuity obligations (205,144) (168,755) Net cash provided by financing activities 3,706,821 2,015,043

Net decrease in cash and cash equivalents (5,674,643) (1,929,348) Cash and cash equivalents, at beginning of year 18,958,456 20,887,804 Cash and cash equivalents, at end of year $ 13,283,813 $ 18,958,456 2015 Annual Report

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. 28 2 9 NRA Foundation FINANCIAL Statements of purchase cash to equivalents. be purchased with amaturity of three months or less at date the The Foundation considers liquid highly all investments EQUIVALENTS CASH AND CASH existencethe or absence of donor-imposed restrictions. temporarily restricted, and permanently on restricted, based in three separate classes of net assets;unrestricted, Foundation, accounts the of Foundation the are maintained onplaced of use the resources the available to the To of limitations observance the identify and restrictions ASSETS OFNET CLASSIFICATION fromdiffer estimates.those during Actualexpenses reporting the period. results could reportedthe amount of revenue and other support and and liabilities as of date the of financial the statements and and assumptions that affectthe reported amounts of assets of requires which America management to make estimates accounting principles generally accepted United inthe States prepared basis and on inconformity accrual the with The financialstatements the of Foundation been have OFPRESENTATION BASIS and other charitable contributions. primarily by Friends of (FONRA) NRA fundraising events and educational The purposes. Foundation is supported operated exclusively insupport of charitable, scientific ofDistrict Columbia. The Foundation is organized be to organization incorporated in1990under laws the of the The NRA Foundation, Inc. (the Foundation) is a non-profit 1. STATEMENTS TO FINANCIAL NOTES Accounting Policies Nature ofActivitiesandSignificant Foundation pursuant stipulations. to those and nor time removed fulfilled can be by actions the of stipulationsimposed that neither expire by passage of by use Foundationwhose the is limited by donor- endowment contributions and other inflows of assets Permanently restricted net assetsrepresent stipulations.those and removed by actions of Foundation the pursuant to eitherthey expire by passage of or time fulfilled can be stipulations. These restrictions are thattemporary in by Foundation the is limited by donor-imposed contributions and other inflows use whose of assets Temporarily restricted net assetsrepresent support of Foundation’s the general operations. donor-imposed stipulations. They are available for not restricted, either temporarily or permanently, by Unrestricted net assetsrepresent resources that are financial statements. affect investmentbalances theand amounts the in reported that changes near inrisk inthe termwould materially in value of such investments, it is at least reasonably possible investments, and level the of uncertainty related to changes and credit. to level Due the of risk associated with such investments are to various exposed risks, such as market andequity fixed income securities, securities. Such portfolio that primarily contains money market funds, collateralized. and from FONRA events and committees, and are not represent funds due to Foundation the for contributions in financial institutions. Accounts receivable primarily to some degree of credit risk. Investments are maintained sound institutions. Nevertheless, deposits are these subject Foundation’s is to deposit funds only policy infinancially federally insured limits inan interest account. bearing The The Foundation maintainscashbalance a inexcess of RISK OFCREDIT CONCENTRATION committee. are returned to Foundation the only upon dissolution of the funds are advanced to FONRA eachnew committee and year event proceeds due from FONRA committees. Start-up Accounts receivable consist of start-up funds and current RECEIVABLE ACCOUNTS defaults. provided upon based management’s judgment of potential for uncollectible pledges and contributions receivable is 1.1% to 2.6% and 0.6%to 2.6%,respectively. An allowance and 2014,have discounted been by rates ranging from cash flows, and forthe 31,2015 yearsDecember ended one year are recorded at present the value of estimated of onea period to ten years. Pledges due inmore than and donor promises to give infuture usually over periods, and measurable bequest proceeds due to Foundation the Pledges and contributions receivable consist of irrevocable RECEIVABLE CONTRIBUTIONS AND PLEDGES and other support statements inthe of activities. investments, change the infair value is included inrevenue identification method. To adjust value the of thecarrying is sold by cost determined the of specific- the securities Inend of gains realized calculating period. the and losses, market using closing valuation the prices at service the atcarried fair value, as by determined an independent andequitywhich fixed income securities, aresecurities Investments consist primarily of money market funds, INVESTMENTS The Foundation invests ina professionally managed INVENTORY ANNUITIES PAYABLE Inventory consists primarily of artwork, shooting sports, Donors have established and funded gift annuity contracts. and hunting supplies to be utilized at FONRA fundraising Under terms of the contracts, the Foundation has the events. Inventory is stated at the lower of cost or market, irrevocable right to receive the remaining contract assets with cost determined using the first-in, first-out method. upon termination of the contract. Annuity contracts are Adjustments are made to reduce the inventory to net recorded as a liability based on the actuarially computed realizable value in the case of obsolescence. value at the time of gift. The difference between the amount received for the contract and its actuarially computed value

PROPERTY AND EQUIPMENT is recorded as revenue. For both the years ended December 31, 2015 and 2014, the discount rate applied ranged from Property and equipment are stated at cost, less accumulated 1.2% to 3.4%. depreciation. Expenditures for maintenance and repairs, which do not prolong the useful lives of the assets, are expensed. Depreciation is computed on the straight-line REVENUE RECOGNITION method over the assets’ estimated useful lives. Building Contributions, whether unrestricted or restricted, improvements are depreciated over useful lives of 20 years, are recognized as revenue upon notification of the other property and equipment is depreciated over two to unconditional gift or pledge and classified in the appropriate 10 years. The Foundation capitalizes complete desktop and net asset category. Proceeds from FONRA fundraising laptop computers greater than $500 and all other fixed assets events, net of direct benefit expenses paid by the FONRA greater than $1,500. event committees, are recorded in the period in which the event occurs. One half of the net proceeds from FONRA

MUSEUM COLLECTIONS events are restricted for use by the FONRA State Fund committee in which the event was held. These proceeds The Foundation has capitalized its museum collections, may be temporarily or permanently restricted. Temporarily consisting principally of donated firearms, since its restricted proceeds become unrestricted when qualifying inception. If purchased, items accessioned into the expenses have been incurred. collection are capitalized at cost, and if donated they are capitalized at their appraised value or fair value on the accession date. Gains or losses on the deaccession of OUTSTANDING LEGACIES collection items are classified in the statements of activities The Foundation is the beneficiary under various wills and as unrestricted, temporarily or permanently restricted trust agreements, the total realizable amounts of which support depending on donor restriction, if any, placed on are not presently determinable. The Foundation’s share of the item at the time of accession. Provisions are made to such amounts is not recorded until the Foundation has reduce museum collections to net realizable value. Museum an irrevocable right to the bequest and the proceeds are collections are not depreciated as the Foundation takes measurable. appropriate measures to perpetually preserve their cultural and historic value. VALUATION OF LONG-LIVED ASSETS SPLIT INTEREST AGREEMENTS Long-lived assets and certain identifiable intangible assets The Foundation is the beneficiary under several split are reviewed for impairment whenever events or changes interest agreements in the form of charitable lead trust and in circumstances indicate that the carrying amount of an charitable remainder unitrust agreements. Under terms of asset may not be recoverable. Recoverability of long-lived the agreements, the Foundation has the irrevocable right assets is measured by a comparison of the carrying amount to receive the annual payments during the life of the trust of the asset to future undiscounted net cash flows expected and/or remaining trust assets upon termination of the trust. to be generated by the asset. If such assets are considered to Split interest agreements are recorded as an asset based be impaired, the impairment to be recognized is measured on the actuarially computed value as of the end of each by the amount by which the carrying amount of the assets year. The difference between the amount received for the exceeds the estimated fair value of the assets. Assets to agreement and its actuarially computed value is recorded as be disposed of are reportable at the lower of the carrying revenue. Split interest agreements due in more than one year amount or fair value, less cost to sell. have been recorded at the present value of estimated cash flows. For the years ended December 31, 2015 and 2014, the discount rate applied ranged from 2.5% to 8.0% and

incorporated future life expectancies of 0 and 22. 2015 Annual Report 30 3 1 NRA Foundation FINANCIAL Statements were available issued. to be March is 8, 2016,which date the financial the statements The Foundationevaluated subsequentevents through EVENTS SUBSEQUENT statute of limitations period. look-back authorities for years before is 2012,which standard the examinationstax by U.S. the federal, state tax or local Generally, Foundation the is no longer subject to income statements to comply with provisions the of guidance. this positionstax that require adjustment to financial the and concluded that Foundation the had no taken uncertain accounting ininterim periods. classification, interest penaltiesand on incometaxes, and uncertainty inincome addresses taxes also de-recognition, upon ultimate settlement. that has agreater of than 50%likelihood realized being such a position are on measured largest the based benefit The t authorities, on merits technical the based of position. the sustained be position ontax will examination by taxing positiontax only ifit is more-likely-than-not that the Foundation mayfrom benefit recognize tax the an uncertain financialin the statements. claimed to be on returnexpected a tax should recorded be determinationthe of benefits tax whether claimed or accounting for uncertainty inincome taxes, addresses which classified as a private foundation. state income taxes. In addition, Foundation the is not 501(c)(3)of Internal the section and Revenue from Code The Foundation is exemptfrom income federal taxes under TAX STATUS programs. and firearmschool security training, education safetyand improvements, and wildlife natural resource conservation, including youth education, range development and of firearms safety-relatedand public interest activities, expenditure. The Foundation supportswide range a Foundation’s the which of Board Trustees approves the Grants are recorded as program year inthe expense in EXPENSE PROGRAM GRANT fundraising expenses. among allocated been administrative, program and services, statementsthe of Accordingly, activities. costs have certain haveactivities accounted been for on basis in afunctional The costs of providing and supportingprogramservices EXPENSES ALLOCATIONFUNCTIONAL OF Management evaluated Foundation’s the positions tax The Foundation followsthe accounting standard on ax benefits recognized in theax benefits financial in statements recognized from

Th

U e guidance on accounting for nder guidance, this the

2015 and 2014included following: the In consisted of following: the Investments, at fair value, as of 31,2015and December 2014 2. respectively. contributions receivable at 31,2015and December 2014, amountthe of $1,412,070and $853,626were included in Estate proceeds bequeathed and due to Foundation the in have unconditionally promised to give amounts as follows: At 31,2015and December 2014,donors to Foundation the 3. elzdgi,nt 1,8 272,570 $ 114,288 $ Realized gain,net Money market ihnoeya ,0,8 2,545,197 $ 3,303,584 $ Within oneyear iied n neet169321,664,575 1,496,045 1,659,312 (3,112,914) Dividends andinterest Unrealized (loss)gain,net One tofiveyears Equity securities Total More thanfiveyears 14,970,219 15,902,218 Fixed incomesecurities Total Total Less: allowancefor Less: discounton uncollectible pledges pledges receivable vestment (loss) income for years the 31, December ended Investments Pledges AndContributions R 13934 3,433,190 $ (1,339,314) $ 47119$59,996,365 $ 64,771,199 $ ,3,3 4,636,176 $ 5,132,133 $ ,5,7 1,253,129 $ 3,956,176 $ 4928543,773,017 44,912,805 ,0,0 2,062,783 1,808,201 ,4,6 4,785,555 5,343,360 ,3,3 4,758,176 5,330,133 2015 2015 2015 1800 (122,000) (198,000) 231,575 (13,227) eceivable 2014 2014 2014 177,575 (27,379) 4. Property and Equipment Level 2: Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either Property and equipment as of December 31, 2015 and 2014 directly or indirectly; and fair value is determined consist of: through the use of models or other valuation 2015 2014 methodologies. Investments which are generally included in this category include corporate bonds and Buildings and loans, less liquid and restricted equity securities and improvements $ 777,206 $ 777,206 certain over-the-counter derivatives. A significant Furniture, fixtures and equipment 637,562 631,286 adjustment to a Level 2 input could result in the Level 2 measurement becoming a Level 3 measurement. 1,414,768 1,408,492 Less: accumulated Level 3: Inputs are unobservable for the asset or depreciation 370,765 256,713 liability and include situations where there is little, if $ 1,044,003 $ 1,151,779 any, market activity for the asset or liability. The inputs into the determination of fair value are based upon Depreciation expense for the years ended December 31, the best information in the circumstances and may 2015 and 2014 was $114,052 and $116,265, respectively. require significant management judgment or estimation. Investments that are included in this category generally include equity and debt positions in private companies 5. Credit Agreement and general and limited Foundation interests in private investment funds, real estate funds, debt funds and The Foundation maintains a $2,000,000 collateralized line distressed debt. of credit agreement with a bank, which expires September In certain cases, the inputs used to measure fair value may 30, 2016. The agreement was secured by cash and securities fall into different levels of the fair value hierarchy. In such totaling $7,906,452 and $4,033,360 at December 31, 2015 cases, an investment’s level within the fair value hierarchy and 2014, respectively. Under the terms of this agreement, is based on the lowest level of input that is significant to for any borrowings, the Foundation would make monthly the fair value measurement. The Foundation’s assessment interest payments on the daily outstanding principal at a of the significance of a particular input to the fair value variable rate based on the 30-day LIBOR rate, plus 0.70%. At measurement in its entirety requires judgment, and December 31, 2015 and 2014, no amounts were outstanding considers factors specific to the investment. under the line of credit agreement. In determining the appropriate levels, the Foundation performs a detailed analysis of the assets and liabilities that are subject to fair value measurements. At each reporting 6. Fair Value Measurements period, all assets and liabilities for which the fair value The Foundation follows the Codification Topic, Fair measurement is based on significant unobservable inputs Value Measurement, which defines fair value as the price are classified as Level 3. that would be received to sell an asset or paid to transfer The estimated fair values of the Foundation’s short-term a liability in an orderly transaction between market financial instruments, including cash and equivalents, participants at the measurement date and sets out a fair and payables arising in the ordinary course of operations, value hierarchy. The fair value hierarchy gives the highest approximate their individual carrying amounts due to the priority to quoted prices in active markets for identical relatively short period of time between their origination and assets or liabilities (Level 1) and the lowest priority to expected realization. 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 prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. The type of investments included in Level 1 include listed equities and listed derivatives. As required by the Codification, the Foundation does not adjust the quoted price for these investments, even in situations where the Foundation holds a large position and a sale could 2015 Annual Report reasonably impact the quoted price. 32 3 3 NRA Foundation FINANCIAL Statements single class is appropriate. on its Based analysis of nature the and risk of investments, these Foundation the has that determined (a) presenting as them a Total assets Split interestagreements Total investments Money market Total available-for-sale fixedincomesecurities single class is appropriate. on its Based analysis of nature the and risk of investments, these Foundation the has that determined (a) presenting as them a Total assets Split interestagreements Total investments Money market Total available-for-sale fixedincomesecurities tablesThe below presentsbalancesthe of assets measured at fair value basis on a recurring by levelwithinthe hierarchy. Available-for-sale fixedincomesecurities: Total available-for-sale equitysecurities Available-for-sale equitysecurities: Assets Available-for-sale fixedincomesecurities: Total available-for-sale equitysecurities Available-for-sale equitysecurities: Assets Municipal bonds Mortgage obligations Multi-strategy bondfunds U.S. Treasury &agency Municipal bonds Mortgage obligations Multi-strategy bondfunds U.S. Treasury &agency Corporate bonds Stock funds-commodities Multi-strategy stockfunds Corporate bonds Stock funds-commodities Multi-strategy stockfunds (a) (a) 10359$5,9,6 1,047,224 $ — $ 59,996,365 $ 61,043,589 $ 975,694 $ — $ 64,771,199 $ 65,746,893 $ 36564$4,9,7 — $ — $ 43,695,674 $ 43,695,674 $ 25847$4,0,0 — $ — $ 42,508,407 $ 42,508,407 $ 9963559,996,365 59,996,365 14,970,219 14,970,219 64,771,199 64,771,199 15,902,218 15,902,218 4928544,912,805 44,912,805 3730743,773,017 43,773,017 ,3,7 6,931,377 3,787,327 5,005,426 6,931,377 3,787,327 5,005,426 ,5,2 1,253,129 1,047,224 1,253,129 6,295,881 3,455,434 4,855,807 6,295,881 3,455,434 4,855,807 3,956,176 3,956,176 ,1,3 1,217,131 1,217,131 ,6,1 1,264,610 1,264,610 Total Total 129,881 311,959 975,694 48,207 51,138 Level 1 Level 1 As ofDecember31,2015 As ofDecember31,2014 129,881 311,959 48,207 51,138 — — Level 2 Level 2 — — — — — — — — — 1,047,224 — — — — — — — — — — — — — Level 3 Level 3 975,694 — — — — — — — — — — — — — — — — — — — — Money market funds, equity and fixed income securities are The Foundation follows the Codification subtopic classified as Level 1 instruments, as they are actively traded Reporting endowment funds. The Codification addresses on public exchanges. accounting issues related to guidelines in the Uniform Split interest agreements are classified as Level 3 Prudent Management of Institutional Funds Act of 2006 instruments, as there is no market for the Foundation’s (UPMIFA), which was adopted by the National Conferences interest in the trusts. Further, the Foundation’s asset is the of Commissioners on Uniform State Laws in July 2006 right to receive cash flows from the trusts, not the assets and enacted in the Commonwealth of Virginia on July 1, of the trusts themselves. Although the trust assets may be 2008 and in the District of Columbia on January 23, 2008. investments for which quoted prices in an active market The Foundation includes all permanently restricted funds are available, the Foundation does not control those and temporarily restricted quasi-endowment funds in its investments. endowments. The Management of the Foundation has For assets and liabilities measured at fair value on a interpreted UPMIFA as requiring the preservation of the recurring basis using significant unobservable inputs (Level fair value of original donor-restricted endowment gifts as of 3), Fair Value Measurement requires reconciliation of the the date of the gift absent explicit donor stipulations to the beginning and ending balances, separately for each major contrary. As a result of this interpretation, the Foundation category of assets and liabilities, except for derivative assets classifies as permanently restricted net assets (a) the original and liabilities, which may be presented net. The table below value of cash gifts donated to permanent endowment, (b) represents the reconciliation of the Foundation’s assets the discounted value of future gifts promised to permanent measured at fair value on a recurring basis using significant endowment, net of allowance for uncollectible pledges, unobservable inputs: and (c) the fair value of non-cash gifts received whereby the proceeds of any future sale are donor-restricted to 2015 2014 permanent endowment. The remaining portion of donor- restricted endowment funds not classified in permanently Split interest agreements, restricted net assets is classified as temporarily restricted net beginning of year $ 1,047,224 $ 930,619 assets until those amounts are appropriated for expenditure Contributions — 92,115 by the Foundation in a manner consistent with the standard Distributions received (80,918) (84,176) of prudence prescribed by UPMIFA. In accordance with Change in value 9,388 108,666 UPMIFA, the Foundation considers the following factors Split interest agreements, in making a determination to appropriate or accumulate end of year $ 975,694 $ 1,047,224 donor-restricted endowment funds: 7. Temporarily and Permanently n The duration and preservation of the fund Restricted Net Assets n The purposes of the Foundation and donor- restricted endowment fund Temporarily restricted net assets are available for the following purposes: n General economic conditions n The possible effect of inflation and deflation 2015 2014

Program grants $ 35,269,778 $ 35,317,649 n The expected total return from income and the Other, passage of time 1,745,923 1,802,810 appreciation of investments Total $ 37,015,701 $ 37,120,459 n Other resources of the Foundation n The investment policies of the Foundation Income from the following permanently restricted net assets is expendable to support program grants in those respective The Foundation has adopted investment and spending areas: policies for endowment assets that attempt to provide a predictable stream of funding to the programs supported 2015 2014 by its endowment while seeking to maintain purchasing National Firearms Museum $ 30,543,546 $ 30,260,396 power of the endowment assets. The investment policy of Youth education 5,776,542 5,636,743 the Foundation is to achieve, at a minimum, a real (inflation Hunting & adjusted) total net return that exceeds spending policy wildlife conservation 6,586,005 5,126,707 requirements. Investments are diversified both by asset class

Firearms & and within asset classes. The purpose of diversification is 2015 Annual Report marksmanship training 2,903,983 2,867,560 to minimize unsystematic risk and to provide reasonable Other programs 18,061,197 16,658,730 assurance that no single security or class of securities will Total $ 63,871,273 $ 60,550,136 have a disproportionate impact on the total portfolio. The amount appropriated for expenditure ranges from 1% to 34 3 5 NRA Foundation FINANCIAL Statements Foundation. endowment prudent was assets,which deemed by the market fluctuations theand continued appropriation of 31,2015 andDecember 2014,resulted from unfavorable thedeficiencies donor-restricted in endowmentfunds at 2015 and 2014,were $1,912and $1,848,respectively. The reported inunrestricted net assetsas of 31, December Unitedin the States, deficiencies this of naturethat are accordance with accounting principles generally accepted Foundation to retain duration. as of afund perpetual In below levelfall the that donor the or UPMIFA requires the with individual donor-restricted endowment funds may collections and pledges and contributions receivable. The related assets are included ininvestments, museum years 31,2015and December ended 2014are as follows: appropriated for expenditure form inthe of program grants. drop below contribution(s). original the earnings of All endowment the are reflected as temporarily net untilassets restricted 5% of endowment the fund’s fair value as of end the of preceding the year, as long as value the of endowment the not does Endowment netassets,endofyear Other changes Amount appropriatedforexpenditure Contributions Net appreciation Interest anddividends,net Endowment netassets,beginningofyear Endowment netassets,endofyear Other changes Amount appropriatedforexpenditure Contributions Net depreciation Interest anddividends,net Endowment netassets,beginningofyear From to time time, fair the value of assetsassociated The Foundation’s endowments are composedsolely of donorfunds. The restricted changes in endowment net assets the for 188 11968$6,5,3 71,717,926 $ 60,550,136 $ 11,169,638 $ (1,848) $ 72,078,360 $ 63,871,273 $ 8,209,000 $ (1,912) $ 215 02204$5,2,0 66,550,239 $ 56,320,400 $ 10,232,024 $ (2,185) $ 71,717,926 $ 60,550,136 $ 11,169,638 $ (1,848) $ netitdRsrce Restricted Restricted Unrestricted Restricted Restricted Unrestricted 337 (64) (1,889,804) 1,419,525 1,407,893 — — — — (1,949,867) (2,348,094) 1,337,323 — — — — $186,150. each of years the 31,2015and December ended 2014was 2015 are due $186,150,all in2016.Total for expense lease payments related obligations to these as of 31, December with terms expiring through 2016.The annual minimum under operating cancelable leases, with one year’s notice, The Foundation warehouse leases space equipmentand 8. Operating Leases eprrl Permanently Temporarily eprrl Permanently Temporarily As ofDecember31,2015 As ofDecember31,2014 ,5,1 4,155,216 4,155,216 — — 3,354,469 3,354,469 — — 6,8)(2,412,874) (64,780) 5661,475,161 1,427,114 55,636 19,221 1,365,175 27,852 3,596 (337) (1,889,804) — (1,949,867) — Total Total 3,531 — 9. Related Parties The Foundation funded certain qualified NRA programs with grants totaling $18,985,029 and $17,299,188 for the The Foundation is affiliated with the NRA by virtue of years ended December 31, 2015 and 2014, respectively. the control vested with the NRA’s Board of Directors to Endowment contributions and gift annuities benefiting appoint the Trustees of the Foundation. The Foundation NRA Civil Rights Defense Fund, NRA Freedom Action has received certain benefits from this affiliation at no Foundation, and NRA Special Contribution Fund are cost, among which are various administrative and support pooled with Foundation investments. services. Management has determined that the fair value of these benefits is minimal, and accordingly, no amounts are The following amounts were due to affiliates at December 31: reflected in these financial statements. The Foundation reimburses the NRA for certain 2015 2014 expenses, such as salaries, benefits and general operating expenses, paid by the NRA on the Foundation’s behalf. National Rifle Association $ 908,726 $ 1,630,990 These expenses totaled $5,837,114 and $5,959,570 for the NRA Civil Rights years ended December 31, 2015 and 2014, respectively. As Defense Fund 1,378,888 1,435,398 of December 31, 2015 and 2014, $908,726 and $1,630,990, NRA Freedom Action respectively, was owed to the NRA and included in due to Foundation 101,071 109,781 NRA Special affiliates for reimbursements and pass through funds still Contribution Fund 1,041,651 1,111,569 held by the Foundation. Total $ 3,430,336 $ 4,287,738 2015 Annual Report 36