NRA reports $55M decline in 2017 funding
© Getty Images

The National Rifle Association (NRA) reportedly saw a significant $55 million drop in annual revenue last year, according to tax records.

The Daily Beast reports that NRA donations dropped from nearly $125 million in 2016 to $98 million in 2017, a decline of about $27 million following the organization's record-breaking haul in 2016.

ADVERTISEMENT

What's more, nearly one-fifth of the remaining contributions were made up by one single anonymous donor, who gave nearly $19 million to the NRA last year, according to the tax forms.

The organization also saw a significant drop in annual dues contributions from members, which dropped from $163 million in 2016 to just over $128 million last year, according to The Daily Beast.

In total, the NRA reported $312 million in 2017 income, down from $367 million the year before.

According to the figures, the NRA spent about $27 million in lobbying funds last year, down from the $76 million spent in 2016 during the group's support for President TrumpDonald John TrumpProsecutors investigating Trump inaugural fund, pro-Trump super PAC for possible illegal foreign donations: NY Times George Conway: Why take Trump's word over prosecutors' if he 'lies about virtually everything' Federal judge says lawsuit over Trump travel ban waivers will proceed MORE's campaign.

The group operated with a lower budget in 2017, at nearly $330 million compared to $412 million just a year before, and ended the year just under $18 million in the hole after previously over-spending by $46 million the year before.

Representatives for the NRA declined to comment when contacted by The Hill. The gun rights lobby argued in a lawsuit earlier this year that it faced financial troubles after New York state urged financial institutions to end business with the group.

"If the NRA is unable to collect donations from its members, safeguard the assets endowed to it, apply its funds to cover media buys and other expenses integral to its political speech, and obtain basic corporate insurance coverage, it will be unable to exist as a not-for-profit or pursue its advocacy mission," the group said at the time.