(CNN) During her CNN town hall Tuesday night, Democratic Sen. Kirsten Gillibrand of New York addressed a question on gun control and her personal shift from receiving an A-rating by the National Rifle Association during her time as a member of the House of Representatives to the F-rating she maintains as a senator.

In her answer, Gillibrand went after the NRA. "Let's be really clear what the issue is. It's the NRA, and it's greed. The NRA is largely funded by the gun manufacturers."

Facts First: Gillibrand is incorrect. The NRA is not "largely funded" by gun makers.

There are two ways to think of the NRA's funding: the money it raises for the operating budget of its core organization, and the money its political action committee (PAC) raises.

"Less than 5% of NRA's operating budget comes from the gun industry including everyone from Bass Pro Shops to Billy's Gun Shop," NRA spokesperson Lars Dalseide told CNN. "The money NRA raises for political purposes comes from donations that average less than $50 from every day Americans from all across the country."

Read More