NRA SCHOOL SHIELD: FREE OF POLITICS. FREE OF CHARGE.
2018 ANNUAL REPORT
19001_NRAF_AR.indd 1 4/9/19 11:28 AM 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.
19001_NRAF_AR.indd 2 4/9/19 11:28 AM TTER LEOF APPRECIATION
nearly three decades, The NRA Foundation has served the needs of freedom-loving Americans across this great nation. Through your philanthropic leadership, we FORreached significant milestones in the history of The NRA Foundation in 2018 that highlight our efforts to preserve freedom for future generations of Americans. 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 more than 30 million school children in all 50 states 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 that receive NRA Foundation grants n Award more than $398 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
Executive Vice President, NRA Ex Officio Trustee, The NRA Foundation
NRA Foundation
19001_NRAF_AR.indd 2 4/9/19 11:28 AM Sponsorships and Scholarships Sponsorships and Scholarships General Shooting Programs General Shooting Programs Hunting & Conservation Hunting & ConservationCompetitive Shooting Competitive Shooting Range ImprovementsCommunity Outreach & Welfare Range ImprovementsCommunity Outreach & Welfare 2nd Amendment Education Training,2nd Amendment Safety, Education Education Training, Safety, Education Training, Safety, Education Training, Safety, Education 2nd Amendment Education 2nd AmendmentRange Education Improvements Range Improvements CommunityHunting Outreach & Conservation & Welfare CommunityHunting Outreach & Conservation & Welfare
CompetitiveSponsorships Shooting and Scholarships CompetitiveSponsorships Shooting and Scholarships
General Shooting Programs General Shooting Programs
2018 FUNDING BY 2018 FUNDING BY POPULATION SERVED PROGRAM AREA 2% 4% 2%
8% 6%
7% 27%
46% 44% 16%
22% 16%
Other Sponsorships and Scholarships Other Youth Youth GeneralGeneral Shooting Shooting Programs Programs Law EnforcementGeneral Public Hunting & Conservation Law EnforcementGeneral Public Public CompetitiveCompetitive Shooting Shooting Law Enforcement GeneralLaw Enforcement Public Range ImprovementsCommunity Outreach & Welfare GeneralLaw Public Enforcement Community Outreach & Welfare Other Other 2nd Amendment Education YouthOther Training,2nd Safety, Amendment Education Education Youth Training,Training, Safety, Safety, Education Education 2nd Amendment Education RangeRange Improvements Improvements CommunityHuntingHunting Outreach & Conservation & & ConservationWelfare
CompetitiveSponsorshipsSponsorships Shooting and Scholarships and Scholarships
General Shooting Programs PACT IMFUNDRAISING & PROGRAMS
its first grant was awarded in 1992, The NRA Foundation has awarded nearly $398 million through more than 49,000 grants in support of eligible programs SINCEand projects throughout 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 NRA Foundation grants remains strong: Teach Freedom. The charts and graphs on these pages provide an overview of The NRA Foundation’s program funding and Friends of NRA fundraising efforts for 2018. The hard work and dedication of Friends of NRA volunteers and the generosity of attendees and donors continue to make The NRA Foundation America’s leading charitable organization in support of the shooting sports. Through your support, the Foundation was able to fund over $30 million in grants and educational programs in 2018. Thank you for all you do to ensure the collective success and sustenance of our Second Amendment freedoms.
NRA Other Foundation Youth
Law EnforcementGeneral Public
Law Enforcement General Public
Other Youth
19001_NRAF_AR.indd 4 4/9/19 11:28 AM NET RAISED 2018 EVENTS
WAWA 2121 MTMT NDND MEME 2323 77 77 OROR MNMN 2323 IDID 2020 2020 SDSD WIWI NYNY WYWY 99 2121 MIMI 2525 1212 2626 IAIA PAPA NENE VTVT 44 NVNV 1212 5252 1212 OHOH 1616 ININ NHNH UTUT ILIL 4646 88 88 COCO 4949 3030 WVWV VAVA MAMA 22 CACA 2525 KSKS MOMO 88 107107 88 KYKY 2929 RIRI 11 3939 2323 NCNC CTCT 11 TNTN AZAZ OKOK 4949 NMNM 2626 NJNJ 44 2222 2828 ARAR SCSC 1515 2323 2020 DEDE 22 ALAL GAGA MSMS MDMD 88 88 1313 2626 TXTX LALA 6868 2626
FLFL 4848
AKAK 3030
HIHI 44
> $3 Million $1-2 Million $500,000 - $999,999 $200,000 - $499,999 Up to $200,000
2121 Number of 2018 Events
2018 Annual Report
19001_NRAF_AR.indd 5 4/9/19 11:28 AM TOP 25 Netting Friends of NRA events:
Coastal Georgia 1 Friends of NRA Falls of the Ohio 2 Friends of NRA Capital City 3 Friends of NRA
IMPACT PA’s 1st 4 Friends of NRA
FUNDRAISING & PROGRAMS Brazos Valley 5 Friends of NRA Mid-Mo. 6 Friends of NRA North Central Indiana 7 Friends of NRA Blue River 8 Friends of NRA Heartland 9 Friends of NRA King CityKing City 10 Friends Friendsof NRA of NRA 11 Douglas County Friends of NRA 12 Stateline Friends of NRA 13 Southeast Alaska Friends of NRA 14 East Tennessee Friends of NRA 15 Pelican State Friends of NRA 16 Fairbanks Friends of NRA 17 Paso Robles Friends of NRA 18 Memphis Friends of NRA 19 Greater Fort Myers Friends of NRA 20 Placerville Friends of NRA 21 Adobe Walls Friends of NRA 22 Zane Grey Friends of NRA 23 Burnet County Friends of NRA 24 Santa Cruz Valley Friends of NRA 25 Blue Mountain Friends of NRA
NRA Foundation
19001_NRAF_AR.indd 6 4/9/19 11:28 AM 80808080808080808080808080808080808080NUMBER8080808080808080808080808080808080808080808080 8080 OF 2018 CLUB LEVEL EVENTS
70707070707070707070707070707070707070 7070707070707070707070707070707070707070707070 7070 70
Legends ($250,000+) 60606060606060606060606060606060606060 6060606060606060606060606060606060606060606060 6060 60 Legacy ($200,000 - $249,999) Guardian ($150,000 - $199,999) 50505050505050505050505050505050505050 5050505050505050505050505050505050505050505050 5050 50 Defender ($100,000 - $149,999) Protector ($50,000 - $99,999) 40404040404040404040404040404040404040 4040404040404040404040404040404040404040404040 4040 40 High Caliber ($25,000 - $49,999)
30303030303030303030303030303030303030 3030303030303030303030303030303030303030303030 3030 30
20202020202020202020202020202020202020 2020202020202020202020202020202020202020202020 2020 20
10101010101010101010101010101010101010 1010101010101010101010101010101010101010101010 1010 10
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MAKYLAKS INKS MAILIN MI LAKSILINKS HIIL INMA LA ILMIMA HILAILLA IN IN IDINMIKY MA ME LAIDINKS MA KYINMEMI MD LAMAMN KY MDKYINLAKS MAKYMD IN KYMNKS IAMA KS MDIN MNMA IAMD KSMA LAMAKS MDMN IL MI KS MAKYMDLA ILKSMA MOLAMI MEMDLAMA LAKS KYMO MDMEKS LAID MEKY LAKYMD KSMOKY KS ID MEMAMDKY KY MNMDMEMO INKY MDMA ME INMNMDKY MA LAMA KYMDMEMS MA MD MAKYME MAKYLAMI MSLA MAKY MEIL MIKYLA MS MILAKYME MDLAIL MO MEKSLAMIMS MD LA MIMOKS MAME MDMT LA MIME LA MDME MDMAMN LAMI MTMA MEMD INLAMN MAMIMDLA MNMTMA INMI MELA MNMA MTMI KYMSMN MA MIME MI KY MAMSNCMNMDMEMIMA MAMNME MDMENC MO KSMAME MNMDMAMI MA MDMOMI NCMEMD MNMIKSMO ME MDMA MN MNNCMOMI MTMD MNLA MOMD MN NDLAMIMT MDMO MD MEMI NDMO MN KYME MIMD MIMO NDMNMS MEMDMNKY MEMIME MOMNMSME MIMD NDMSMOME MAMINC MN MAMEMSMO NENC MEMNMS MEMNNEMS MNME LAMIMO MSME MNNEMIMO MEMTLA MN MSMO MEMI MNMTMONEMS MDMTNDMSMIMEMO MIMSNH MDMT NDMSMO MS MIMT NHMIMO MA MNMI MOMT MNMINH MA MTMIMO MSMNMI MN NC MONHMTMS MI MNMO NC MIMTMN NENC ME MSNJ MIMSMTMNME NENC MSMNMT NC NJMD MNMSMO MNMONC MDNJMS MSMO NC MOMT MNMO NDMSNJMT MNNCMT MO MSNMNCNHND MO NCMSMN NDMT MINHNCNMNCMOMTMO NDMOMI NCMTNDMENM MT MO MONDME MTMS NM MTMSND NCMO MSMT MO NENDNCMS NVMTNJ MN NCMSNDNEMOMT NDMS NEMN NJNVNCND MS NEND NCNV MSMI NE NCMS MS NCMT MINVNE MTMS NC NDNDNEMT NM NCNHNYMSNENDMT NEMONDMS NCNM NHMTNC NENYMONH NDMT MS MTMN NE NYNDNH MT NEMNMTNH MT NDNY MTNC NHNC NDMT ND NEOHNH NC NHNE NVND MT NHNCNJNE OHMTNDNHMS NVNCND NHNJ NE NCMTMOOHMS NJ NH NE NCMO NHNJNCOH NJND NENC NDNH OK NCNJ ND NENY NHNJNMNENHNJ NCOKNENDNH NYNCMTNMNJNH NENDNMOKND NEMTND NJNCMS NH NM NJND OKMSNM ND NJ NHNE NENMORND NMNJ NDNEOH NMNH NE ORNM NJ OHNHNDNM NVNH NCNEND NHORNJ NM NVNENH NCMT NDNVNM NENJOR MT NENM NV NENHNM NENVNH NJPA NEOKNH NVNH NM NE NMPANJNV OKNMNVNM ND NENYNHNJ PANVNH NMNE NCNDNHNJ NY NVNJNHNY NHNEPA NC NV NH NY NMNJ NVNHNV NY RINJ ORNYNH NYNM NHNVNJ RIORNY NMNYNVOH NH NENMRINDNVNYNJNH OHNVNM NE OHNYNJNMND NHRINJ NM NY OHSC NM NYNJOHNV OH NJ NM SCPA OHNY NJOH NJSCOHNVPA NYNM NY NHNM OKNVOH NENJ NYSCNHNM NVNJOK OHNMNVNEOK SDOHNJNV NMOH OKOHNVNM NY NVOKSD OHNM RI NVNMOK SDNV OH NYOKRIOH NVNMNH OH NJSDOR NYOHNM OKNV NH NVNYNJOR OKNVTNNMNY ORNY NV OK OHTNOR NVNYOK SC ORNVOK NYTN OR NY SCNVOK ORNY OHNV NMNYTNOR OK NJOH NM NV OKORNYPAOH NVNJ TXOHORNYPA ORNYNV PA OR TX OKOHSD PANY ORPA TXNYOH SD PAOR OHNY NM PA TXNYOKOR NV OR NMPAOH OK UTOHNYNV OR OKNYPA OH RIOK OHUTPA NYRI TNOROK RIOHPA UTRIPA OH TNPAOK RI PAOHRIOKUT RIOK OHNV ORPAOKNYOKRI VA NVOHPAORNY OK RIORSCOH OR PA VAOK ORSCRI OHOK SCRI TXVARIOR PA OK SC RITXOKOR VA SCORRI OKNY OR OHOKSC VTORRI NYPAOH SC OR OK PASDORVT RIOKSC PAOR SDRISD UTSCPAVTOROK SD SC PASC SDUTOR RISDVTSC ORPAOH SDWAPA SCOR OKOHSD ORPA WA OK SD SC ORRITN WASDRI ORSDSCPA TNRIVAPA SDPATNORRISDW 13,000 Friends of NRA is a grassroots fundraising effort comprised of over 13,000 dedicated volunteers that fuel a united front to raise 4,000,000 funds in support of programs Since its inception in 1992, Friends of NRA furthering our Second has held over 22,000 events, reached 4 million Amendment freedoms. attendees, and raised more than $392 million to help The NRA Foundation fund over 49,000 grants to eligible programs.
2018 Annual Report
19001_NRAF_AR.indd 7 4/9/19 11:28 AM Thanks to funds raised at Friends of NRA events and the generosity of attendees and donors, The NRA Foundation was able to fund more than $1.1 million in support of the NRA School Shield program in 2018, including school vulnerability assessor training and grants made directly to schools to enhance their security. FUNDING SAFETY Free of Politics, Free of Charge by Clay Turner
“We must do something!” After every horrific school shooting, so-called “mainstream” media, anti-gun politicians and self-righteous Hollywood celebrities raise the same cry to do something…anything, to stop the slaughter of innocents. That “something,” of course, always turns out to be gun control. It matters not that such action has been taken in the past and, in fact, is still in effect in large swaths of the country; just as long as we do something, it doesn’t have to actually address the problem at hand. “One of the greatest burdens you have in a leadership position is knowing you’ve done all you can to ensure that everyone is safe,” says Rosa Blackwell, Superintendent (Ret.), Cincinnati Public Schools. It’s baffling that these powerful forces don’t leap at the chance to fund efforts that do make children safer—threat assessments and response strategies tailored by, and for, local school systems; efforts to identify risks long before they kick in the front door; partnerships with local law enforcement that harden schools and reduce response times; links with community
NRA Foundation
19001_NRAF_AR.indd 8 4/9/19 11:28 AM organizations that can flag challenged youth; and training Rather, their mission is to do what the NRA does better that empowers school administrators, boards, teachers, than anyone else: to train. NRA assessors spend five days on parents and cops to not only craft solutions specific ot their the school campus, always in conjunction with local law en- situations, but to also train others to do the same. forcement. During that time, up to 20 local officials receive Not one media conglomerate has funded such efforts on training on how to conduct their own vulnerability assess- a national scale, despite the windfall of ad revenue created by ments and develop appropriate response strategies. These their sensationalizing these rare shootings. Not one billion- groups include two to three people per agency to facilitate aire gun-banner has carved out a few dollars, of the millions partnerships and multi-agency response relationships. They earmarked to get anti-gun politicians elected, for school often include personnel from other school systems, jurisdic- security. Not one obscenely wealthy Hollywood celebrity has tions or even states; and these officials use their newfound tweeted an announcement of a nationwide grant program to skills to conduct assessments back home. aid schools in keeping our children safe. “NRA’s vulnerability assessors help local stakeholders In fact, only one organization involved in the national build best practices in four areas: preparedness, prevention, school safety conversation funds a nationwide effort to mitigation and response,” explains Brantley. “They look keep our school children safe. That’s the National Rifle for opportunities to improve.” Because of who the NRA is, Association, through its NRA School “some believe we’re only looking to address Shield program, provided free of charge to active shooters, and our answer is solely fo- any community interested in making its cused on firearms in the schools,” Brantley schools more secure. added. “They fail to understand there are This year, nearly 56 million American 25% other, much more common threats exist- children filed into K-12 classrooms in ing in the school environment that could more than 132,800 schools. In the evening, of schools report escalate if you don’t address them on the schools are locations for sporting events, inadequate funding as front end. We identify potential threats like performances, club activities and trans- a top factor limiting the bullying, which is not just kids being kids; portation hubs. It’s estimated that one in schools’ efforts to reduce it’s something that should be nipped in the six Americans set foot on a school campus bud.” every day. However, few of these schools or prevent crime. During training, participants learn to de- are prepared for the unthinkable. termine the potential adversarial path when This is understandable. School shootings, though approaching a campus, probing for vulnerabilities beginning horrific, rea rare, and education budgets are strained. Sheila at the outer perimeter and working their way into the build- Brantley, director of the NRA School Shield program, ing. They assess physical security components, technology, compares this dilemma to Maslow’s famous hierarchy of personnel, school resource officers (SROS), incident man- needs, which prioritizes physical needs—food, water, shelter, agement and response protocols. Groups learn to document sleep—before all others. “We see free/reduced meals, after- and report their findings. It is critical that this process take school snacks and sometimes even dinner,” Brantley said. place during school hours; otherwise it’s impossible to “We see back-to-school supply drives. We see kids taking predict mass gathering points and before- and after-school naps before and after school. But, for whatever reasons, activity patterns. there hasn’t been a call to action for the next level of the Since the first Security Assessor Training was held in hierarchy: safety and security.” Tennessee in 2015, training sessions have been completed The NRA stepped into the gap between the need for by more than 500 participants, resulting in more than increased security and the lack of resources in 2012. In the 200 completed assessments to date. The NRA School aftermath of the Sandy Hook tragedy, NRA Executive Vice Shield program will continue this momentum in 2019— President Wayne LaPierre announced the creation of a committing to more than a dozen trainings across the task force that would make recommendations to keep our country—all provided at no cost to hosts and attendees. schools safer. Heading the task force was Asa Hutchinson, None of the participating school systems—public or former U.S. attorney and Arkansas congressman, now the private—have been charged a penny for this effort. NRA state’s governor. The results of that task force became the School Shield is funded 100 percent by donations to the foundation for the NRA School Shield program. NRA from members, individual donors, foundations, and Through the program, the NRA sends a team of support from Friends of NRA. subject-matter experts to school systems. Their mission is Even more impressive is the fact that trainees can easily not to tell them what they are doing wrong, or even to make turn their vulnerability assessments into needs assessments recommendations. Neither is it their mission to arm teach- for grant requests at the federal, state and local level. They ers and staff, though that may be an effective strategy for a can even use them to apply for grants from The NRA NRA given situation. Foundation
19001_NRAF_AR.indd 10 4/9/19 11:28 AM Foundation, which has distributed more than $800,000 to but the same plan isn’t going to work in each district. It was schools so far. an NRA program, but completely apolitical. It just focused The NRA’s team of subject-matter experts is large and solely on how to make the school safer.” diverse, as a panel discussion at the 2018 NRA Annual Kaiser also was impressed by the lack of bias in the train- Meetings & Exhibits in Dallas demonstrated. ing. “There’s sometimes an apprehension that this is an NRA Wayne Black oversees vulnerability assessments and program, but I was very impressed by the level of profes- response planning for private schools and synagogues from sionalism. No political overtones, no ‘guns are good or bad’, his office iniami. M Black has been in law enforcement which went a long ways with people who weren’t familiar for more than 40 years. After 9/11, he ran a Red Team with NRA and didn’t know what to expect. It was an NRA for the Department of Homeland Security, staging mock program, but completely apolitical, just focused solely on assaults to probe for vulnerabilities. He was hooked on the how to make the school safer.” concept of NRA School Shield after a conversation with Gun control advocates may claim that the recommen- Hutchinson, and has donated his time as an adviser to the dations of these experts are somehow tainted by their program ever since. association with the NRA, in much the same way they “No other nationwide organization is doing what NRA attack the NRA Eddie Eagle GunSafe® program, which never School Shield does,” says Black. “It’s proactive. Unlike groups promotes gun ownership or usage. who spring up after a specific incident and who may lose Consequently, consulting with subject-matter experts interest, NRA School Shield has been a constant.” with no connection to NRA might be instructive. In July, Black is clear and concise about the mission of NRA the U.S. Secret Service’s National Threat Assessment Center School Shield. “At the end of the day, the team with the published a guide for schools titled “Enhancing School best plan wins. If you have to deal with a problem at the Safety Using A Threat Assessment Model: An Operational doorway to the school, you’ve failed. Instead of being at the Guide For Preventing School Violence.” Within its 32 pages school door, looking in, you need to be on the perimeter, are detailed observations and recommendations, perhaps the looking out.” most chilling of which is “keep in mind, there is no profile of “Normalcy bias is our biggest security-related issue. a student attacker.” We believe people are good at heart. We want things to be School violence is an equal-opportunity terror that does normal, so we expect them to be normal. Victims’ accounts not reflect gender, achievement or social status. of a violent attack share a common denominator—they The Secret Service guide contains expert recommen- never thought it would happen here. They had such a nice dations on reporting mechanisms, training, intervention, school, such a nice community…they’re in denial. They don’t thresholds for law enforcement involvement, examination have a plan.” of social media, community involvement, building relation- Dr. Eric Dietz of Purdue University, another panel par- ships, motives, inappropriate interests and access to weap- ticipant, has created data models that compare response ons. However, nowhere in its pages can a reference to gun tactics and produce measurable results. The effectiveness of control be found. Blaming NRA is popular in some circles, tactics such as SRO deployment, arming school staff, putting but claiming NRA influenced the recommendations of the locks on classroom doors and waiting for police to arrive U.S. Secret Service would be a stretch. does not achieve a one-size-fits-all solution. To make certain we didn’t overlook any programs similar “The same country that has Chicago has Alaska and to the NRA School Shield program, we placed a call to the Wyoming,” says Dietz. “Improving police response times may main number of Michael Bloomberg’s Everytown for Gun be a good option in urban areas, but rural schools will never Safety to inquire about what resources the organization could achieve a quick response time. For them, arming an SRO or provide for schools looking to better protect children. On staff might be a better approach. In New York City, there’s a the contacts page of the group’s website, it states: “Due to vol- cop on every corner. Is that safer? We don’t know, but we do ume, we are unable to respond to every email. Please take the know that better decisions are made at the local level.” time to read our FAQ before sending us a message. If you’d Eric Kaiser is the chief of police of Jourdanton, Texas, the prefer to leave a message, please call (646) 324-8250.” We left first police department (and the first school system) in Texas three messages over two days, but did not receive a response. to host an NRA School Shield training. As such, it drew offi- By contrast, NRA School Shield lists a phone number cers from Austin, Houston and San Antonio, as well. and email address on its home page. A member of the “One of the things that I appreciated about NRA School program’s team answered on the third ring. Any school ad- Shield was that it addressed all different facets of school ministrator, teacher, parent or law enforcement officer truly safety, not just school shooters,” Kaiser said. I was impressed looking for help is encouraged to reach out to NRA School that an appropriate amount of time was given to each topic. Shield for assistance. The team can be reached by email at It didn’t devote a large amount of time to arming teachers [email protected] or by phone at (844) 467-7723. or staff; t’si an option that should be given consideration, 2018 Annual Report
19001_NRAF_AR.indd 11 4/9/19 11:28 AM GUARDS Is NRA School Shield solely focused on putting armed QS guards in schools? FASchool security is a complex issue with no simple, single No. NRA School Shield recognizes solution. The NRA School Shield program is committed to that a comprehensive school security addressing the many facets of school security, including best plan includes various elements of protection including infrastructure, practices in security infrastructure, technology, personnel, technology, personnel, training and training, and policy. Through this multidimensional effort, policy. As such, NRA School Shield NRA School Shield seeks to engage communities and will feature tools and resources empower leaders to help make our schools more secure. designed to help educate, guide and inform the public on best practices in all applicable areas of school security including the use of armed professionals as well as the important roles infrastructure, technology, PLAN training, and policy also serve. Is NRA School Shield solely focused on ‘active shooter’ events? No. In order to develop a truly comprehensive school security plan, it is important and necessary to recognize that school violence can come in many forms. Despite the low probability of violent incidences occurring at schools, they can happen at any time and at any place and can vary from one situation to the PUBLIC next. In order to be prepared for such incidences, schools must think proactively Is NRA School Shield only and train on how to respond to various scenarios. There is no “one-size-fits-all” applicable to public schools? approach to ensuring school security; all potential threats must be taken seriously. No. NRA School Shield will provide public access to comprehensive security resources for all who are interested. While many resources will be uniquely tailored for K-12 educational institutions in America, PERSONNEL including public, private and parochial Does NRA School Shield support armed school systems, the overall goal of this school personnel to protect students? program is to address, promote and enhance school security measures for The NRA believes every option should be considered when it comes to entire communities. As such, NRA protecting our children. When a threat occurs, a quick and timely response by School Shield resources and activities law enforcement professionals is what everyone hopes for. However, in these will encourage the involvement of situations—when time is clearly of the essence—we strongly believe that trained schools, first responders and the school personnel can also serve a vital role. As the first to face the threat, they community at large. can lead and implement protocols designed to save lives. NRA Foundation
19001_NRAF_AR.indd 12 4/9/19 11:28 AM 34% ASSESSMENT 34% of Parents fear for their How can I request an assessment of my school? child’s physical safety at school The NRA School Shield program is focused on training designated officials on how to conduct school vulnerability assessments through our Security Assessor Training. We prefer to empower communities with this vital skill, rather than conducting the assessment ourselves. Our training is free to host and free to HOST attend, making it very easy to access this important curriculum. Who can host the Security Assessor Training? To facilitate the vital partnership between schools and their local law enforcement agencies, we require both a K-12 School and a local Law Enforcement Agency to serve as co-hosts for our training. Featuring classroom instruction, tabletop 69% exercises, and hands-on opportunities, participants will benefit from a week of About 69% of Public Schools specialized training, networking, and practical exercises at a local K-12 school. reported at least one violent incident at school during the 2015-16 school year 56M ATTEND About 56 Million K-12 Who can attend the Security Assessor Training? Students were enrolled in For those interested in attending our training and becoming certified to conduct public and private schools school vulnerability assessments, please note the training is ideal for SROs, SSOs, in the US in fall 2018 supervisors within community policing units, school facilities personnel, and other officials tasked with a direct responsibility for school security. Attendees of this training must be attending on behalf of a qualified agency (law enforcement agency or school district), as any assessments conducted as a result of this training are conducted on behalf of that respective agency.
2018 Annual Report
19001_NRAF_AR.indd 13 4/9/19 11:28 AM YOUR LEGACY OF FREEDOM
to Support Your NRA: The NRA Foundation offers many flexible options for individuals, organizations, and companies to support the Foundation’s work. CallWAYS 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
NRA Foundation
19001_NRAF_AR.indd 14 4/9/19 11:28 AM 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) orf 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.
2018 Annual Report
19001_NRAF_AR.indd 15 4/9/19 11:28 AM REPORT OF THE TREASURER
NRA Foundation, Inc. experienced continued growth and success in 2018, with net proceeds from Friends of NRA events of $33.3 million. As a result of these THEand other fundraising efforts, the Foundation was able to fund $30.4 million in grants and educational programs benefitting youth; school safety; law enforcement; range development and improvement; training, education and safety; wildlife and natural resources; and more. With steady growth since inception in 1990, the Foundation’s financial position is strong, with $88 million in cash and investments and over $131 million in net assets at December 31, 2018. 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 is allocated among equity and fixed income investments in a manner that maximizes investment returns at appropriate risk levels. The Foundation’s endowment fund, a significant segment of the portfolio, stood at $54 million as of December 31, 2018 and generated $2.1 million in program and other support for the year. NRA Foundation
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TRTHE NRA FOUNDATION,USTEES 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, 2018 and 2017, the related statements of activities, functional expenses and cash flows for the years then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. NRA Foundation
19001_NRAF_AR.indd 18 4/9/19 11:28 AM 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, 2018 and 2017, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of Matter As disclosed in Note 1 to the financial statements, the Foundation adopted the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The adoption of this standard resulted in the issuance of the statement of functional expenses and additional footnote disclosures and changes to the classification of net assets. Our opinion is not modified with respect to this matter.
McLean, Virginia March 13, 2019
2018 Annual Report
19001_NRAF_AR.indd 19 4/9/19 11:28 AM The NRA Foundation, Inc. Statements of Financial Position AS OF DECEMBER 31, 2018 AND 2017
2018 2017 Assets
STATEMENTS Cash and cash equivalents $ 10,220,309 $ 11,215,742 Investments 77,520,315 82,423,980 Pledges and contributions receivable, net 9,171,461 4,461,823 Accounts receivable, net of allowance of $7,250 and $33,500, respectively 903,537 959,558 Due from affiliates 262,718 1,781,472 Inventory, net 9,422,349 9,176,763 Property and equipment, net 832,211 992,649 Other assets, principally museum collections, net 26,858,536 26,341,239 Split interest agreements 1,039,709 1,045,677 Total assets $ 136,231,145 $ 138,398,903
Liabilities and Net Assets FINANCIAL Accounts payable and accrued liabilities $ 2,182,802 $ 2,051,026 Grants payable 248,424 207,141 Annuities payable 2,437,071 2,315,904 Total liabilities 4,868,297 4,574,071
Without donor restrictions 9,104,542 16,889,093 With donor restrictions 122,258,306 116,935,739 Total net assets 131,362,848 133,824,832
Total liabilities and net assets $ 136,231,145 $ 138,398,903
NRA Foundation THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.
19001_NRAF_AR.indd 20 4/9/19 11:28 AM The NRA Foundation, Inc. Statements of Activities FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017
2018
Without Donor With Donor Restrictions Restrictions Total Revenue and other support Friends of NRA proceeds of $72,662,603 net of direct benefit expenses of $39,353,154 $ 16,409,804 $ 16,899,645 $ 33,309,449 Contributions, net 4,194,481 12,963,754 17,158,235 Net investment income (663,489) (4,145,956) (4,809,445) Change in value of split interest agreements — 29,826 29,826 Other income 735,492 (2,260) 733,232 Assets released from restrictions 20,422,442 (20,422,442) — Total revenue and other support 41,098,730 5,322,567 46,421,297
Expenses Program 35,338,765 — 35,338,765 Administrative 1,929,461 — 1,929,461 Fundraising 11,615,055 — 11,615,055 Total expenses 48,883,281 — 48,883,281
Change in net assets (7,784,551) 5,322,567 (2,461,984) Net assets, beginning of year 16,889,093 116,935,739 133,824,832 Net assets, end of year $ 9,104,542 $ 122,258,306 $ 131,362,848
2017
Without Donor With Donor Restrictions Restrictions Total Revenue and other support Friends of NRA proceeds of $69,683,103 net of direct benefit expenses of $39,178,011 $ 15,161,676 $ 15,343,416 $ 30,505,092 Contributions, net 4,368,911 6,687,796 11,056,707 Net investment income 1,310,017 9,003,004 10,313,021 Change in value of split interest agreements — (225,245) (225,245) Other income 632,000 107,544 739,544 Assets released from restrictions 18,569,292 (18,569,292) — Total revenue and other support 40,041,896 12,347,223 52,389,119
Expenses: Program 35,956,519 — 35,956,519 Administrative 1,460,773 — 1,460,773 Fundraising 5,454,572 — 5,454,572 Total expenses 42,871,864 — 42,871,864
Change in net assets (2,829,968) 12,347,223 9,517,255 Net assets, beginning of year 19,719,061 104,588,516 124,307,577 Net assets, end of year $ 16,889,093 $ 116,935,739 $ 133,824,832
2018 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. Annual Report
19001_NRAF_AR.indd 21 4/9/19 11:28 AM The NRA Foundation, Inc. Statements of Functional Expenses FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017
2018 STATEMENTS Program Administrative Fundraising Total Grants and education $ 30,417,376 $ — $ — $ 30,417,376 Costs of goods sold — — 33,943,899 33,943,899 Management fees 3,146,379 1,572,416 8,889,047 13,607,842 Occupancy 34,200 97,200 2,242,543 2,373,943 Other operating 414,672 7,193 1,592,178 2,014,043 Meetings and travel 469,446 31,741 1,175,612 1,676,799 Postage and shipping 678,852 7,753 1,029,411 1,716,016 Advertising and promotion — — 720,836 720,836 Legal, audit, taxes and fees — 92,236 631,047 723,283 Depreciation and amortization 17,332 56,595 102,084 176,011 FINANCIAL Printing and publications 8,879 44,546 343,334 396,759 Office supplies and services 151,629 19,781 298,218 469,628 Total expenses 35,338,765 1,929,461 50,968,209 88,236,435
Less: Friends of NRA direct benefit expenses — — (39,353,154) (39,353,154) $ 35,338,765 $ 1,929,461 $ 11,615,055 $ 48,883,281
2017
Program Administrative Fundraising Total Grants and education $ 34,682,335 $ — $ — $ 34,682,335 Costs of goods sold — — 34,062,563 34,062,563 Management fees 473,709 984,815 3,456,459 4,914,983 Occupancy 34,200 97,200 2,035,875 2,167,275 Other operating 159,535 15,329 1,043,650 1,218,514 Meetings and travel 9,592 22,133 — 31,725 Postage and shipping 543,787 3,905 815,227 1,362,919 Advertising and promotion — — 1,955,158 1,955,158 Legal, audit, taxes and fees — 111,444 606,407 717,851 Depreciation and amortization 17,362 56,495 106,603 180,460 Printing and publications 15,232 137,816 549,270 702,318 Office supplies and services 20,767 31,636 1,371 53,774 Total expenses 35,956,519 1,460,773 44,632,583 82,049,875
Less: Friends of NRA direct benefit expenses — — (39,178,011) (39,178,011) $ 35,956,519 $ 1,460,773 $ 5,454,572 $ 42,871,864
NRA Foundation THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS.
19001_NRAF_AR.indd 22 4/9/19 11:28 AM The NRA Foundation, Inc. Statements of Cash Flows FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017
2018 2017 Cash flows from operating activities Change in net assets $ (2,461,984) $ 9,517,255 Adjustments to reconcile change in net assets to net cash provided by (used in) operating activities: Amortization and depreciation 176,011 180,460 Provision for losses on pledges, contributions and accounts receivable 295,750 190,250 Provision for losses (gains) on inventory 24,372 (20,000) Provision for (gains) losses on other assets (1,500) 55,600 Donated assets, museum collections (451,000) (881,295) Donated assets, securities with and without donor restrictions (57,271) (210,070) Contributions restricted for investment in endowment (409,635) (944,445) Net realized and unrealized loss (gain) on investments 7,169,807 (8,477,607) Increase in discount on pledges receivable 40,493 1,149 Decrease in value of split interest agreements 5,968 227,360 Changes in assets and liabilities: Increase in pledges and contributions receivable (5,072,131) (728,286) Decrease (increase) in accounts receivable 82,271 (222,989) Decrease (increase) in due from affiliates 1,518,754 (5,704,088) (Increase) decrease in inventory (269,958) 2,922,059 (Increase) decrease in other assets (80,370) 260,244 Increase in accounts payable and accrued liabilities 131,776 10,050 Increase in grants payable 41,283 196,941 Total adjustments 3,144,620 (13,144,667) Net cash provided by (used in) operating activities 682,636 (3,627,412)
Cash flows from investing activities Purchases of investments (18,648,420) (18,790,040) Proceeds from sale of investments 16,439,549 15,875,341 Purchases of property and equipment — (11,528) Net cash used in investing activities (2,208,871) (2,926,227)
Cash flows from financing activities Proceeds from contributions restricted for: Investment in endowment 409,635 944,445 Investments subject to new annuity agreements 312,407 226,330 Payments on annuity obligations (191,240) (282,449) Net cash provided by financing activities 530,802 888,326
Net decrease in cash and cash equivalents (995,433) (5,665,313) Cash and cash equivalents, at beginning of year 11,215,742 16,881,055 Cash and cash equivalents, at end of year $ 10,220,309 $ 11,215,742
2018 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS. Annual Report
19001_NRAF_AR.indd 23 4/9/19 11:28 AM 1. Nature of Activities and Significant in financial institutions. Accounts receivable primarily represent funds due to the Foundation for contributions and Accounting Policies from FONRA events and committees. The Foundation invests in a professionally managed The NRA Foundation, Inc. (the Foundation) is a non-profit portfolio that primarily contains money market funds, organization incorporated in 1990 under the laws of the equity securities, and fixed income securities. Such District of Columbia. The Foundation is organized to be investments are exposed to various risks, such as market operated exclusively in support of charitable, scientific and credit. Due to the level of risk associated with such STATEMENTS and educational purposes. The Foundation is supported investments, and the level of uncertainty related to changes primarily by Friends of NRA (FONRA) fundraising events in value of such investments, it is at least reasonably possible and other charitable contributions. that changes in risk in the near term would materially The vision of the NRA Foundation is to provide lasting affect investment balances and the amounts reported in the financial stability for the NRA’s programs, teaching the safe financial statements. and responsible use of firearms in a free society and the understanding of one simple truth – that personal freedom must be preserved by the right of individuals to keep and INVESTMENTS bear arms. Investments consist primarily of money market funds, equity securities, and fixed income securities which are carried BASIS OF PRESENTATION at fair value, as determined by an independent market valuation service using the closing prices at the end of the The financial statements of the Foundation have been FINANCIAL period. In calculating realized gains and losses, the cost of prepared on the accrual basis and in conformity with securities sold is determined by the specific-identification accounting principles generally accepted in the United States method. To adjust the carrying value of the investments of America which requires management to make estimates to their fair value, the change in fair value is included in and assumptions that affect the reported amounts of assets revenue and other support in the statements of activities. and liabilities as of the date of the financial statements and the reported amount of revenue and other support and expenses during the reporting period. Actual results could PLEDGES AND CONTRIBUTIONS RECEIVABLE differ from those estimates. Unconditional pledges and contributions receivable consist of irrevocable and measurable bequest proceeds due to the CLASSIFICATION OF NET ASSETS Foundation and donor promises to give in future periods, usually over a period of one to ten years. Pledges due To identify the observance of limitations and restrictions in more than one year are recorded at the present value placed on the use of the resources available to the of estimated cash flows, discounted by rates of 1.98% to Foundation, the accounts of the Foundation are maintained 3.03% for the year ended December 31, 2018 and rates of in two separate classes of net assets: without donor 1.98% to 2.61% for the year ended December 31, 2017. restrictions, and with donor restrictions, based on the An allowance for uncollectible pledges and contributions existence or absence of donor-imposed restrictions. receivable is provided based upon management’s judgment Net assets without donor restrictions represent resources of potential defaults. that are not restricted by donor-imposed stipulations. They are available for support of the Foundation’s general operations. ACCOUNTS RECEIVABLE Net assets with donor restrictions represent contributions Accounts receivable consist of start-up funds and current and other inflows of assets whose use by the Foundation year event proceeds due from FONRA committees. Start- is limited by donor-imposed stipulations. Some of these up funds are advanced to each new FONRA committee restrictions are temporary in that they either expire by and are returned to the Foundation only upon dissolution passage of time or can be fulfilled and removed by actions of of the committee. the Foundation pursuant to those stipulations. Other donor restrictions are perpetual in nature, whereby the donor has stipulated the funds be maintained in perpetuity. INVENTORY Inventory consists primarily of artwork and shooting
CASH AND CASH EQUIVALENTS sports and hunting supplies to be utilized at FONRA fundraising events. Inventory is stated at the lower of cost The Foundation considers all highly liquid investments or net realizable value, with cost determined using the first- purchased with a maturity of three months or less at the date in, first-out method. Adjustments are made to reduce the of purchase to be cash equivalents. inventory to net realizable value in the case of obsolescence.
CONCENTRATION OF CREDIT RISK PROPERTY AND EQUIPMENT The Foundation maintains a cash balance in excess of Property and equipment are stated at cost, less accumulated federally insured limits in an interest bearing account. The depreciation. Expenditures for maintenance and repairs, Foundation’s policy is to deposit funds only in financially which do not prolong the useful lives of the assets, are sound institutions. Nevertheless, these deposits are subject NRA expensed. Depreciation is computed on the straight-line Foundation to some degree of credit risk. Investments are maintained
19001_NRAF_AR.indd 24 4/9/19 11:28 AM method over the assets’ estimated useful lives. Building pledge and classified in the appropriate net asset category. improvements are depreciated over useful lives of 20 Proceeds from FONRA fundraising events, net of direct years, other property and equipment is depreciated over benefit expenses paid by the FONRA event committees, are two to 10 years. The Foundation capitalizes fixed assets recorded in the period in which the event occurs. One half of greater than $2,000. the net proceeds from FONRA events are restricted for use by the FONRA State Fund committee in which the event was
MUSEUM COLLECTIONS held. These proceeds are classified as with donor restrictions. Proceeds with donor restrictions become without donor The Foundation has capitalized its museum collections, restrictions when qualifying expenses have been incurred. consisting principally of donated firearms, since its inception. Pursuant to Financial Accounting Standards Board If purchased, items accessioned into the collection are Accounting Standards Codification 958-605-25-27 capitalized at cost, and if donated they are capitalized at their contributions received by the Foundation with the NRA appraised value or fair value on the accession date. Gains or as the specified beneficiary are recorded as support by the losses on the deaccession of collection items are classified Foundation, as the Foundation and NRA are financially in the statements of activities as with donor restrictions interrelated entities. or without donor restrictions depending on the donor restriction, if any, placed on the item at the time of accession. Provisions are made to reduce museum collections to net OUTSTANDING LEGACIES realizable value. Museum collections are not depreciated, as The Foundation is the beneficiary under various wills and the Foundation takes appropriate measures to perpetually trust agreements, the total realizable amounts of which preserve their cultural and historic value. are not presently determinable. The Foundation’s share of such amounts is not recorded until the Foundation
SPLIT INTEREST AGREEMENTS has an irrevocable right to the bequest and the proceeds are measurable. The Foundation is the beneficiary under several split interest agreements in the form of charitable lead trust and charitable remainder unitrust agreements. Under terms of VALUATION OF LONG-LIVED ASSETS the agreements, the Foundation has the irrevocable right Long-lived assets and certain identifiable intangible assets to receive the annual payments during the life of the lead are reviewed for impairment whenever events or changes trust and/or remaining trust assets upon termination of in circumstances indicate that the carrying amount of an the remainder trusts. Split interest agreements are recorded asset may not be recoverable. Recoverability of long-lived as an asset based on the actuarially computed fair value assets is measured by a comparison of the carrying amount and adjusted as of the end of each year. The difference of the asset to future undiscounted net cash flows expected between the amount received for the agreement and its to be generated by the asset. If such assets are considered to actuarially computed value at each year end is recorded as be impaired, the impairment to be recognized is measured changes in present value of split interest agreement. Split by the amount by which the carrying amount of the assets interest agreements due in more than one year have been exceeds the estimated fair value of the assets. Assets to recorded at the present value of estimated cash flows. eTh be disposed of are reportable at the lower of the carrying discount rate applied ranged from 2.69% to 2.87% for the amount or fair value, less cost to sell. year ended December 31, 2018 and 2.4% to 2.6% for the
year ended December 31, 2017, and incorporated future life FUNCTIONAL ALLOCATION OF EXPENSES expectancies ranging from 11 to 19 years for the year ended December 31, 2018 and 12 to 20 years for the year ended The costs of providing program services and supporting December 31, 2017. activities have been accounted for on a functional basis in the statements of activities. Accordingly, certain costs have been allocated among program services, administrative, ANNUITIES PAYABLE and fundraising expenses. Such allocations are determined Donors have established and funded gift nnuitya contracts. by management on an equitable basis. Allocated expenses Under terms of the contracts, the Foundation has the and the related allocation method used are as follows: irrevocable right to receive the remaining contract assets management fees, meetings and travel, allocated based on upon termination of the contract. Amounts payable under time and effort; occupancy and certain other operating annuity contracts are recorded as a liability based on the expenses, allocated based on square footage; depreciation actuarially computed value at the time of gift. The difference and amortization, based on square footage and/or area of between the amount received for the contract and its use; and certain printing and publications, based on area per actuarially computed liability is recorded as revenue. For page. Expenses not allocated are charged directly to their both the years ended December 31, 2018 and 2017, the related functional expense categories. discount rate applied ranged from 1.2% to 3.4%.
GRANT PROGRAM EXPENSE REVENUE RECOGNITION Grants are recorded as program expense in the year for Unconditional contributions, whether without donor which the Foundation’s Board of Trustees approves the restrictions or with donor restrictions, are recognized as expenditure. The Foundation supports a wide range revenue upon notification of the unconditional gift ro of firearms and safety-related public interest activities, 2018 Annual Report
19001_NRAF_AR.indd 25 4/9/19 11:28 AM including youth education, range development and providers as either exchange transactions or contributions, improvements, wildlife and natural resource conservation, as well as distinguishing between conditional contributions school security and firearm training, education and and unconditional contributions. The updated standard safety programs. will be effective for resource recipients for annual reporting periods beginning after December 15, 2018 and resource
TAX STATUS providers one year later. Management is currently evaluating the effect on the financial statements. The Foundation is exempt from federal income taxes under STATEMENTS section 501(c)(3) of the Internal Revenue Code and from state income taxes. In addition, the Foundation is not SUBSEQUENT EVENTS classified as a private foundation. The Foundation evaluated subsequent events through The Foundation follows the accounting standard on March 13, 2019, which is the date the financial statements accounting for uncertainty in income taxes, which addresses were available to be issued. the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the 2. Availability and Liquidity Foundation may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the The Foundation maintains a policy of structuring its tax position will be sustained on examination by taxing financial assets to be available as its general operating authorities, based on the technical merits of the position. expenses come due. This includes the appropriation
FINANCIAL The tax benefits recognized in the financial statements from of income from donor restricted endowments and such a position are measured based on the largest benefit contributions, in satisfaction of those restrictions. that has a greater than 50% likelihood of being realized The table below represents the Foundation’s financial upon ultimate settlement. The guidance on accounting for assets and liquidity resources available to meet general uncertainty in income taxes also addresses de-recognition, expenditures within one year as of December 31, 2018 classification, interest and penalties on income taxes, and and 2017: accounting in interim periods. Management evaluated the Foundation’s tax positions 2018 2017 and concluded that the Foundation had taken no uncertain Financial assets at year-end: tax positions that require adjustment to the financial Cash and cash equivalents $ 10,220,309 $ 11,215,742 statements to comply with the provisions of this guidance. Investments, excluding amounts held for affiliates 75,259,234 80,017,862 Pledges and contributions ADOPTED ACCOUNTING PRONOUNCEMENTS receivable available in one year, net 2,733,835 2,020,906 In July 2015, the FASB issued ASU No. 2015-11, Inventory Accounts receivable (Topic 330): Simplifying the Measurement of Inventory. available in one year, net 322,287 334,558 The amendments in the ASU require entities that measure Other Assets 832,388 908,669 inventory using the first-in, first-out or average cost Due from affiliates 5,004,794 5,000,067 methods to measure inventory at the lower of cost and Total financial assets 94,372,847 99,497,804 net realizable value. Net realizable value is defined as estimated selling price in the ordinary course of business Less amounts not available less reasonably predictable costs of completion, disposal and to be used within one year: transportation. The ASU did not have a significant impact Net assets with donor on the Foundation’s inventory balance. restrictions 73,585,622 76,238,644 In August 2016, the FASB issued ASU No. 2016-14, Not- Financial assets not available for-Profit Entities (Topic 958): Presentation of Financial to be used within one year 73,585,622 76,238,644 Statements of Not-for-Profit Entities. The amendments Financial assets available to meet general expenditures in this ASU are intended to make improvements to the within one year $ 20,787,225 $ 23,259,160 information provided in the financial statements and the accompanying notes of not-for-profit entities. The amendments set forth the FASB’s improvements to net asset classification requirements and the information 3. Investments presented about a not-for-profit entity’s liquidity, financial Investments, at fair value, as of December 31, 2018 and 2017 performance and cash flows. The ASU was adopted by the consisted of the following: Foundation in 2018. 2018 2017 PENDING PRONOUNCEMENT Money market $ 2,136,370 $ 1,526,329 In June 2018, the FASB issued ASU No. 2018-08, Not- Equity securities 51,199,936 58,671,620 for-Profit Entities (Topic 958): Clarifying the Scope and Fixed income securities 24,184,009 22,226,031 the Accounting Guidance for Contributions Received and Total $ 77,520,315 $ 82,423,980 Contributions Made, which provides additional guidance on NRA Foundation characterizing grants and similar contracts with resource
19001_NRAF_AR.indd 26 4/9/19 11:28 AM Investment (loss) income for the years ended December 31, the Foundation would make monthly interest payments 2018 and 2017 included the following: on the daily outstanding principal at a variable rate based on the 30-day LIBOR rate, plus 0.70%. The line of credit 2018 2017 agreement expired September 30, 2018 and no amounts were outstanding at December 31, 2017. Realized gains, net $ 111,798 $ 305,458 Dividends and interest 2,360,362 1,835,414 Unrealized (loss) gain, net (7,281,605) 8,172,149 7. Fair Value Measurements Total $ (4,809,445) $ 10,313,021 The Foundation follows the Codification Topic, Fair Value Measurement, which defines fair value as the price that would be received to sell an asset or paid to transfer 4. Pledges and Contributions Receivable a liability in an orderly transaction between market At December 31, 2018 and 2017, donors to the Foundation participants at the measurement date and sets out a fair have unconditionally promised to give amounts as follows: value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical 2018 2017 assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Inputs are broadly defined Within one year $ 8,540,622 $ 3,347,875 as assumptions market participants would use in pricing an One to five years 1,200,460 1,378,800 asset or liability. The three levels of the fair value hierarchy More than five years 279,425 221,700 are described below: 10,020,507 4,948,375 Level 1: Less: discount on Unadjusted quoted prices in active markets for pledges receivable (46,046) (5,552) identical assets or liabilities that the reporting entity has 9,974,461 4,942,823 the ability to access at the measurement date. The type Less: allowance for of investments included in Level 1 include listed equities uncollectible pledges (803,000) (481,000) and listed derivatives. Level 2: Inputs other than quoted prices within Level Total $ 9,171,461 $ 4,461,823 1 that are observable for the asset or liability, either directly or indirectly; and fair value is determined Estate proceeds bequeathed and due to the Foundation in through the use of models or other valuation the amount of $5,897,868 and $1,173,793 were included methodologies. in contributions receivable at December 31, 2018 and 2017, respectively. Level 3: Inputs are unobservable for the asset or liability and include situations where there is little, if any, market activity for the asset or liability. The inputs 5. Property and Equipment into the determination of fair value are based upon the best information in the circumstances and may require Property and equipment as of December 31, 2018 and 2017 significant management judgment or estimation. consist of: In certain cases, the inputs used to measure fair value may 2018 2017 fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy Buildings and is based on the lowest level of input that is significant to improvements $ 777,206 $ 777,206 the fair value measurement. The Foundation’s assessment Furniture, fixtures and equipment 919,887 920,428 of the significance of a particular input to the fair value measurement in its entirety requires judgment, and 1,697,093 1,697,634 considers factors specific ot the investment. Less: accumulated depreciation 864,882 704,985 In determining the appropriate levels, the Foundation $ 832,211 $ 992,649 performs a detailed analysis of the assets and liabilities that are subject to fair value measurements. At each reporting period, all assets and liabilities for which the fair value Depreciation expense for the years ended December 31, measurement is based on significant unobservable inputs 2018 and 2017 was $159,897 and $164,886, respectively. are classified as Level 3. The estimated fair values of the Foundation’s short-term financial instruments, including cash and equivalents, 6. Credit Agreement and payables arising in the ordinary course of operations, approximate their individual carrying amounts due to the The Foundation maintained a $2,000,000 collateralized relatively short period of time between their origination and line of credit agreement with a bank, secured by cash expected realization. and securities totaling $9,640,633 at December 31, 2017. Under the terms of this agreement, for any borrowings, 2018 Annual Report
19001_NRAF_AR.indd 27 4/9/19 11:28 AM The tables below present the balances of assets measured at fair value on a recurring basis by level within the hierarchy.
As of December 31, 2018 Assets Available-for-sale equity securities: Total Level 1 Level 2 Level 3 Consumer discretionary $ 166,417 $ 166,417 $ — $ — Consumer staples 47,674 47,674 — —
STATEMENTS Energy 7,936 7,936 — — Financials 99,815 99,815 — — Health care 132,857 132,857 — — Industrials 66,114 66,114 — — Information technology 335,866 335,866 — — Materials 16,590 16,590 — — Telecommunication 12,843 12,843 — — International equities 152,231 152,231 — — Multi-strategy stock funds 48,935,149 48,935,149 — — Stock funds - commodities 1,226,444 1,226,444 — — Total available-for-sale equity securities 51,199,936 51,199,936 — —
FINANCIAL Available-for-sale fixed income securities: Corporate bonds(a) 6,018,715 6,018,715 — — U.S. Treasury & agency 4,459,489 4,459,489 — — Multi-strategy bond funds 13,528,968 13,528,968 — — Mortgage obligations 129,025 129,025 — — Municipal bonds 47,812 47,812 — — Total available-for-sale fixed income securities 24,184,009 24,184,009 — —
Money market 2,136,370 2,136,370 — — Total investments 77,520,315 77,520,315 — — Split interest agreements 1,039,709 — — 1,039,709 Total assets $ 78,560,024 $ 77,520,315 $ — $ 1,039,709
(a) Based on its analysis of the nature and risk of these investments, the Foundation has determined that presenting them as a single class is appropriate.
NRA Foundation
19001_NRAF_AR.indd 28 4/9/19 11:28 AM As of December 31, 2017 Assets Available-for-sale equity securities: Total Level 1 Level 2 Level 3 Consumer discretionary $ 171,214 $ 171,214 $ — $ — Consumer staples 47,161 47,161 — — Energy 8,713 8,713 — — Financials 139,619 139,619 — — Health care 127,520 127,520 — — Industrials 89,344 89,344 — — Information technology 326,095 326,095 — — Materials 21,145 21,145 — — International equities 161,581 161,581 — — Multi-strategy stock funds 55,686,323 55,686,323 — — Stock funds - commodities 1,892,905 1,892,905 — — Total available-for-sale equity securities 58,671,620 58,671,620 — —
Available-for-sale fixed income securities: Corporate bonds(a) 5,700,579 5,700,579 — — U.S. Treasury & agency 4,821,877 4,821,877 — — Multi-strategy bond funds 11,520,215 11,520,215 — — Mortgage obligations 131,072 131,072 — — Municipal bonds 52,288 52,288 — — Total available-for-sale fixed income securities 22,226,031 22,226,031 — —
Money market 1,526,329 1,526,329 — — Total investments 82,423,980 82,423,980 — — Split interest agreements 1,045,677 — — 1,045,677 Total assets $ 83,469,657 $ 82,423,980 $ — $ 1,045,677
(a) Based on its analysis of the nature and risk of these investments, the Foundation has determined that presenting them as a single class is appropriate.
2018 Annual Report
19001_NRAF_AR.indd 29 4/9/19 11:28 AM Money market funds, equity and fixed income securities are fair value of original donor restricted endowment gifts sa classified as Level 1 instruments, as they are actively traded of the date of the gift ro Board designation, absent explicit on public exchanges. donor stipulations or Board action to the contrary. As a Split interest agreements are classified as Level 3 result of this interpretation, the Foundation classifies sa net instruments, as there is no market for the Foundation’s assets with permanent donor restrictions (a) the original interest in the trusts. Further, the Foundation’s asset is value of cash gifts donated to permanent donor restricted the right to receive cash flows from the trusts, not the endowment, (b) the discounted value of future gifts assets of the trusts themselves. Although the trust assets promised to permanent donor restricted endowment, net of STATEMENTS may be investments for which quoted prices in an active allowance for uncollectible pledges, and (c) the fair value of market are available, the Foundation does not control non-cash gifts eceivedr whereby the proceeds of any future those investments. sale are donor restricted to permanent endowment. Board For assets and liabilities measured at fair value on a designated endowment funds are classified in net assets recurring basis using significant unobservable inputs (Level without donor restrictions until utilized by the Foundation 3), Fair Value Measurement requires reconciliation of the for the Board designated purpose. In accordance with beginning and ending balances, separately for each major UPMIFA, the Foundation considers the following factors in category of assets and liabilities, except for derivative assets making a determination to appropriate or accumulate donor and liabilities, which may be presented net. The table below restricted endowment funds: represents the reconciliation of the Foundation’s assets n The duration and preservation of the fund measured at fair value on a recurring basis using significant unobservable inputs: n The purposes of the Foundation and donor restricted FINANCIAL endowment fund 2018 2017 n General economic conditions Split interest agreements, n beginning of year $ 1,045,677 $ 1,273,037 The possible effect of inflation and deflation Contributions 61,079 — n The expected total return from income and the Distributions received (16,629) — appreciation of investments Change in value (50,418) (227,360) n Split interest agreements, Other resources of the Foundation end of year $ 1,039,709 $ 1,045,677 n The investment policies of the Foundation
The Foundation has adopted investment and spending 8. Net Assets with Donor Restrictions policies for endowment assets that attempt to provide a and Endowment Funds predictable stream of funding to the programs supported by its endowment while seeking to maintain purchasing Net assets with donor restrictions are restricted as follows: power of the endowment assets. The investment policy of the Foundation is to achieve, at a minimum, a real (inflation 2018 2017 adjusted) total net return that exceeds spending policy requirements. Investments are diversified both by asset class Perpetual in nature $ 70,971,999 $ 67,540,762 and within asset classes. The purpose of diversification is Purpose restricted program awards 39,066,484 31,656,117 to minimize unsystematic risk and to provide reasonable Time restricted assurance that no single security or class of securities will program awards 10,011,371 15,454,637 have a disproportionate impact on the total portfolio. The Other, passage of time 2,208,452 2,284,223 amount appropriated for expenditure ranges from 1% to Total $ 122,258,306 $ 116,935,739 5% of the endowment fund’s fair value as of the end of the preceding year, as long as the value of the endowment does not drop below the original contribution(s). From time The Foundation follows the Codification subtopic to time, the fair value of assets associated with individual Reporting endowment funds. The Codification addresses donor restricted endowment funds may fall below the accounting issues related to guidelines in the Uniform level that the donor or UPMIFA requires the Foundation Prudent Management of Institutional Funds Act of 2006 to retain as a fund of perpetual duration, as a result of (UPMIFA), which was adopted by the National Conferences unfavorable market fluctuations. In such instances, no of Commissioners on Uniform State Laws in July 2006 and further appropriations for expenditures are made from the enacted in the Commonwealth of Virginia on July 1, 2008 donor restricted endowment until the fair value exceeds the and in the District of Columbia on January 23, 2008. The level the donor or UPMIFA requires. All earnings of the Foundation includes all permanent donor restricted funds donor restricted endowment are reflected as net assets with in its endowments. The Management of the Foundation has donor restrictions until appropriated for expenditure in the interpreted UPMIFA as requiring the preservation of the form of program grants.
NRA Foundation
19001_NRAF_AR.indd 30 4/9/19 11:28 AM The Foundation’s endowments are composed primarily of funds with donor restrictions. The changes in endowment net assets for the years ended December 31, 2018 and 2017 are as follows:
Year Ended December 31, 2018
Without Donor With Donor Restrictions Restrictions Total
Endowment net assets, beginning of year $ 979,400 $ 82,995,400 $ 83,974,800 Interest and dividends, net 33,845 1,646,913 1,680,758 Net depreciation (99,520) (5,078,631) (5,178,151) Designations and contributions 397,131 851,135 1,248,266 Amount appropriated for expenditure (48,991) (2,102,498) (2,151,489) Other changes 424 14,052 14,476 Endowment net assets, end of year $ 1,262,289 $ 78,326,371 $ 79,588,660
Year Ended December 31, 2017
Without Donor With Donor Restrictions Restrictions Total
Endowment net assets, beginning of year $ 561,692 $ 75,370,679 $ 75,932,371 Interest and dividends, net 21,094 1,571,879 1,592,973 Net appreciation 82,509 6,185,334 6,267,843 Designations and contributions 317,982 1,904,474 2,222,456 Amount appropriated for expenditure (5,873) (2,034,970) (2,040,843) Other changes 1,996 (1,996) — Endowment net assets, end of year $ 979,400 $ 82,995,400 $ 83,974,800
The related assets are included in investments, museum collections and pledges and contributions receivable.
9. Operating Leases The Foundation reimburses the NRA for certain expenses, such as salaries, benefits and general operating The Foundation leases warehouse space and equipment expenses, paid by the NRA on the Foundation’s behalf. under operating leases, cancelable with one year’s notice, These expenses totaled $17,482,315 and $6,017,801 for the with terms expiring through 2019. The annual minimum years ended December 31, 2018 and 2017, respectively. As payments related to these obligations as of December 31, of December 31, 2018 and 2017, $1,035,620 and $222,837, 2018 are as follows: respectively, was owed to the NRA and included in due from affiliates for reimbursements and pass through funds 2019 $ 186,150 still held by the Foundation. $27,465,562 and $29,319,729 of funds that are designated for the NRA as beneficiary are included in investments and net assets with donor Total lease expense for each of the years ended December restrictions as of December 31, 2018 and 2017. 31, 2018 and 2017 was $186,150. During 2017, the Foundation extended a short-term loan in the amount of $5,000,000 to NRA, whereby NRA’s accounts receivable served as collateral. The loan included 10. Related Parties annual interest payments of 7% and originally expired The Foundation is affiliated with the NRA by virtue of February 2, 2018. In January 2018, the agreement was the control vested with the NRA’s Board of Directors to amended to extend the loan to June 2, 2018 with interest appoint the Trustees of the Foundation. The Foundation to be paid monthly. The loan was repaid in March 2018, has received certain benefits from this affiliation at no before the extended due date. Subsequently in 2018, the cost, among which are various administrative and support Foundation extended another secured loan in the amount of services. Management has determined that the fair value of $5,000,000 to NRA, whereby the NRA’s accounts receivable these benefits is minimal, and accordingly, no amounts are serve as collateral. The loan includes monthly interest reflected in these financial statements. payments of 7% and expires October 3, 2019. At December
2018 Annual Report
19001_NRAF_AR.indd 31 4/9/19 11:28 AM 31, 2018 and 2017, $5,000,000 was payable under the respective agreements. The Foundation funded certain qualified NRA programs with grants totaling $13,498,464 and $18,812,141 for the years ended December 31, 2018 and 2017, respectively. Endowment contributions and gift annuities benefiting NRA Civil Rights Defense Fund, NRA Freedom Action Foundation, and NRA Special Contribution Fund are STATEMENTS pooled with Foundation investments. The following amounts were due from (to) affiliates at December 31:
2018 2017
National Rifle Association $ 3,964,380 $ 4,833,738 NRA Civil Rights Defense Fund (2,562,029) (1,614,831) NRA Freedom Action Foundation (97,862) (215,667) NRA Special Contribution Fund (1,041,771) (1,221,768) FINANCIAL Total $ 262,718 $ 1,781,472
NRA Foundation
19001_NRAF_AR.indd 32 4/9/19 11:28 AM FOR INFORMATION about making a gift to The NRA Foundation, All rights reserved, including the right to please call (877) NRA-GIVE or visit www.nrafoundation.org. reproduce this book or portions thereof.
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