NRA Bankruptcy Statement of Financial Affairs
On March 4, 2021 and in connection with its Chapter 11 filing, the NRA submitted a revised Statement of Financial Affairs to the Court. While these filings contain a great deal of details about how and where the NRA spends its money, NRA Watch has pulled some new points of interest below.
- The filing shows a reduction in NRA income from 2019 ($306.7 million) to 2020 ($290.6 million). (p.7). This drop is especially notable since the NRA typically takes in more revenue during election years, such as 2020.
- Lists $100,000 “severance” payment to former chief lobbyist Christopher Cox. (p.9)
- Lists various “settlements”, without providing more details, including one to Brian Judy ($189K). (p.10)
- Lists “breach of contract settlement(s)” with Robert Marcario ($200K) and Michel Marcellin (two separate payments of $374K). (p.10).
- Mr. Marcario was previously the NRA’s Director of Membership.
- Mr. Marcellin was a senior leader at the NRA who retired in 2016. According to reporting, “Although he had worked only the first few weeks of January, the [NRA] paid him a full year’s salary—nearly six hundred and thirty thousand dollars, according to tax filings, mostly in the form of a bonus.” Mr. Marcellin’s outside income has previously come under scrutiny when it was revealed that, at the same time he worked for the NRA, he was receiving money from the insurance company Lockton Affinity. The NRA and Lockton, at the same time, were partnering on the “Carry Guard” insurance product.
- Lists a “eminent domain settlement” with the Virginia Department of Transportation in the amount of $85,036. (p.11)