National Rifle Assn. Suffers a $30-Million Loss
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WASHINGTON — The National Rifle Assn., recently hurt by a major legislative loss and an embarrassment to its lobbying effort, lost nearly $30 million last year, according to a published report.
The 3-million-member organization posted a $29.8-million operating loss in the first 11 months of 1992, according to a treasurer’s summary reported in last week’s National Journal, a Washington newsmagazine.
The magazine said the loss, coming on top of a $9-million deficit in 1991, drained the association’s asset total from $91.5 million to about $68 million.
The losses have intensified a long-running battle inside the organization over its control and direction, and the fight could continue next month at the NRA’s annual meeting in Nashville, Tenn.
The NRA’s director of federal affairs, David Gibbons, resigned Thursday after admitting that he passed on unsubstantiated rumors about Janet Reno, President Clinton’s new attorney general.
The Senate Judiciary Committee found no support for allegations that Reno had been stopped for drunk driving but not charged.
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