The National Rifle Association settled a lawsuit with the Washington, D.C., attorney general's office involving its charity arm amid allegations it misspent millions in tax-deductible donations by illegally funneling the money into political activities.

The settlement, reached Wednesday, avoids a trial that had been scheduled for April 29.

"Donors are entitled to know that their charitable contributions will be used in furtherance of a nonprofit organization's stated charitable mission. The NRA Foundation — the charitable arm of the NRA — violated this sacred public trust, allowing the NRA to use them as an unchecked piggy bank," D.C. Attorney General Brian Schwalb said in a statement.

"Caving to pressure from the NRA, the Foundation diverted millions of dollars to the NRA in grants and risky loans that were repaid only after OAG filed its lawsuit. Tax-exempt nonprofits are a form of public trust — abusing that trust as the NRA did violates both the public interest and District law," the statement continued.

The NRA, which did not admit wrongdoing in the settlement, called the lawsuit a political hit job.

"This is further proof of the NRA's commitment to good governance," NRA President Charles Cotton said, The Hill reported. "The NRA confronted this political attack - and emerges from this lawsuit strong, secure, and vindicated."

The agreement comes about two months after a jury in New York found that the gun advocacy organization's leaders mismanaged the agency's charitable funds and spent millions on luxury trips, designer clothes and other lucrative perks. 

Former CEO Wayne LaPierre was ordered to pay $4.3 million.