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Political and Legislative

NRA’s Tax Exempt Status Is in Danger as Donors Revolt

A widening inquiry into the National Rifle Association (NRA) and multi-million dollar class-action litigation against its leadership have thrown the already beleaguered gun-rights group and its tax-exempt status into further peril.

Among the recent developments that have ratcheted up the pressure: the New York State Department of Financial Services is reportedly opening a probe into the NRA’s now-defunct Carry Guard insurance product, which purported to insure gun owners when they kill another individual.

The NRA is believed to have pulled the product after inquiries by regulators in several states. Now New York’s financial regulator is taking a second …

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