John Kerry-Campaign Finances
John Kerry for President Inc.
On December 4, 2002, Sen. Kerry filed papers with the FEC establishing John Kerry for President Inc., an exploratory committee.  James M. Jordan served as the campaign manager for the first eleven-plus months; however, on November 10, 2003 Kerry announced that Mary Beth Cahill would take over.  Louis B. Susman, Chicago-based vice chairman of Salomon Smith Barney Investment Banking, is national finance director.  (Peter Maroney served as finance director until it was announced March 13, 2004 that he would move to the DNC to serve as national finance co-chair). Robert Farmer, who gained fame as finance director for Michael Dukakis' 1988 presidential campaign, is treasurer. 
  • John Kerry for President, Inc. closed its primary campaign books with receipts totaling $233.4 million, including $210.1 million in contributions from individuals.  Of that sum over $80 million from 500,000 Americans came in on JohnKerry.comThe campaign finished with over $47 million cash on hand.
John Kerry for President Receipts, Disbursements and Cash on Hand
See table and notes below.  Does not include compliance committee finances.
Center for Responsive Politics' John Kerry
Center for Public Integrity: The Buying of the President 2004: Senator John F. Kerry
John Kerry for President Inc. Finances
FEC Filings
Cash on Hand
(at beginning of reporting period)
Total Receipts
Total Disbursements
Cash on Hand
(at end of reporting period)
August Monthly (July 1-July 31)
$37,255,767.56 $47,172,605.46 $36,477,510.62 $47,950,862.40



July Monthly (June 1-June 30)



June Monthly (May 1-May 31)



May Monthly (Apr. 1-Apr. 30)



April Monthly (Mar. 1-Mar. 31)



March Monthly (Feb. 1-Feb. 29)



Feb. Monthly (Jan. 1-Jan. 31)

Year End 2003
(incl. transfer and loans)
4th Q 2003 (Oct. 1-Dec. 31)

3rd Q 2003 (July 1-Sept. 30)

2nd Q 2003 (April 1-June 30)

1st Q 2003 (Jan. 1-March 31)

Year End '02 (Nov. 27-Dec. 31)
*includes transfer of $2,650,000 from Kerry's re-election committee
**includes loans totalling $2,887,965.75 from Kerry
***includes $3,400,000.00 loan from Kerry

August 2004 (September Monthly Report):
On August 16 the Kerry-Edwards campaign announced it had donated $3 million each from the primary campaign to the Democratic Congressional Campaign Committee (DCCC) and to the Democratic Senatorial Campaign Committee (DSCC).  The FEC report showed these transfers effective August 31.  In addition the campaign transferred a total of $2 million to eight Democratic state committees (August 26):  DE ($150,000), IN ($300,000), MO ($400,000), MT ($200,000), NH ($150,000), NC ($300,000), WA ($400,000) and WV ($100,000).

July 2004 (August Monthly Report)
:  According to an August 20 press release, in July the Kerry-Edwards campaign raised more than triple what Bush raised in that month.  Campaign manager Mary Beth Cahill stated, “On the last two days of the campaign, when John Kerry and John Edwards accepted the party’s nomination, we raised $9 million online alone.”

June 2004 (July Monthly Report)
: June marked the fourth consecutive month the campaign has brought in more than $30 million and the fourth straight month it has dramatically outraised the Bush campaign.  Direct mail and phones led the way bringing in $13.8 million from 195,000 contributions, with an average contribution of $71. raised $12.1 million online, with an average contribution of $99.  Traditional fundraising rounded out the month with over $9.6 million raised.  All told the campaign received over 325,000 contributions in June.  June 30 set a Kerry online fundraising record with $3 million in one day, and June 29 was nearly as successful bringing in $2 million for a $5 million two-day total.  The $99.2 million raised in the second quarter set "a record for any presidential campaign ever." 


May 2004 (June Monthly Report): In May the campaign reported outraising the Bush campaign for the third straight month and reaching its 2004 goal of $100 million nearly 2 months early.  In the month the campaign raised $10.8 million from direct mail and phones (141,000 contributions from mail and phones in the month) and over $9 million at (90,000 contributions). 

April 2004 (May Monthly Report): The campaign announced on April 14 that it broke "a presidential campaign fundraising record, as well as a New York record, for most money raised in one night for a presidential campaign." It reported raising over $6.5 million in an event at the Sheraton New York ($6 million) and a “Kerry Core” young professional event at Crobar ($500,000).  The previous record had been set by Bush-Cheney in a June 2003 event, also at the Sheraton New York ($4.8 million).  On April 13 Kerry set a Boston record by raising $4.1 million for the campaign.

March 2004 (April Monthly Report): On April 2, 2004 the campaign announced a record-breaking month and quarter.  It reported raising $38 million (later revised upward) in March, bringing its total for 1st Q 2004 to over $50 million.  This easily eclipsed the previous record for amount raised in quarter by a non-incumbent (Bush $29.7 million in the 2nd Q 1999).  The website was a huge factor in this success, accounting for $26.7 million of the $50 million raised in the quarter.  On March 4, 2004 raised $2,600,000, and in the ten days following Super Tuesday, March 2, it raised $10 million on the website.  The campaign reported 200,000 individual online contributions during March.  Also, on March 19, 2004 the campaign released an updated list of top fundraisers.

Feb. 2004 (March Monthly Report): With Kerry's successes came a surge in contributions; individuals contributed $7,817,945.62 for the month.

Jan. 2004 (February Monthly Report): Contributions from individuals, $4,116,258.39.  $3,400,000.00 loan at 3.125% variable rate secured by personal residence, January 5, 2004.

4th Q 2003
--On November 14, 2003 Sen. Kerry announced his decision to forgo federal matching funds. 
--On December 18, 2003 Campaign Manager Mary Beth Cahill issued this statement:

“Senator Kerry has fulfilled his promise to invest in his own campaign.  This is a clear statement by John Kerry – he is in the race to win the nomination and defeat George Bush.

“Over the last week, Senator Kerry has initially loaned his presidential campaign $850,000 from his personal credit.

“Additionally, he is in the process of obtaining a personal loan secured by the family home in Boston.  When the details are finalized, our campaign will disclose the appropriate information. 

“Senator Kerry will keep all his options open under the law on further funding of the campaign.”

--On December 24, 2003 the campaign announced in a statement from Campaign Manager Mary Beth Cahill, "Senator John Kerry has finalized plans to loan his presidential campaign over $6 million.  The personal loan was secured through a mortgage on his share of the family's home in Boston."

-The FEC report showed 12/12 - $500,000; 12/15 - $350,000; 12/19 - $250,000; 12/24 - $1,787,965.80.  Aggregate - $2,889,364.54.
Contributions from individuals for the quarter were $2,381,081.97.

3rd Q 2003:  $4 million raised in the quarter ($3,950,549.03 in individual contributions) put the Kerry campaign a distant second among the Democratic candidates, more than $10 million behind the Dean campaign.  Also in this quarter Kerry's campaign spent $3 million more than it brought in.  The campaign earned some positive press by releasing a list of its top fundraisers.  (An Oct. 21 editorial in the Washington Post said the release of the list "puts him in the forefront of meaningful disclosure.")  The list showed 30 fundraisers who raised $100,000 or more and 79 who raised between $50,000 and $100,000.  The campaign also brought in $92,950.00 for its GELAC Fund, bringing its total up to $158,698.50. 

2nd Q 2003:  Contributions from individuals for the quarter were $5,807,384.57.The money line from the Kerry campaign's press release on its second quarter fundraising is: "The Kerry campaign has banked $10,862,059, a sum unprecedented for any Democratic candidate at this stage of a presidential campaign.  The release notes that at the same time in the 2000 primary, Al Gore had $9.4 million in cash on hand and Bill Bradley had $6.0 million. 

1st Q 2003:  Contributions totalled $7,006,492.00 and came from approximately 15,000 individuals.   The bulk of Kerry's fundraising came through a series of national "Kickoffs" around the country.   February 26th Los Angeles and Orange County   -   February 27th San Diego   -   March 4th Cherry Hill, NJ   -  March 11th New York   -   March 12th Boston   -   March 13th San Francisco   -   March 18th Detroit   -   March 19th Chicago  -   March 20th Miami   -   March 21st Palm Beach   -   March 25th Edison, NJ   -   March 26th Washington, DC   -   March 27th Rhode Island and Philadelphia. There were also smaller events and direct mail and $450,000 in contributions were raised via the Internet.  The campaign noted (4/15/03 release) that the $8 million cash on hand "is the most any Democratic Presidential candidate has ever had in the bank at this point in the nominating calendar."  By comparison at the end of the 1st Q in 2000 Gore had $6,850,544 cash on hand and Bradley $2,827,245.  See also 1st Q Disbursements.

Year End 2002:  The $3,151,898 in total receipts for year end 2002 includes transfer of $2,650,000 from the Kerry Committee, meaning Kerry raised about half a million dollars ($501,898) in December.  Kerry held his first fundraiser in Miami on Dec. 6, 2002 and did a total of ten fundraisers in less than two weeks: 12/6-Miami, 12/7-Puerto Rico, 12/9-Tampa, 12/9-Orlando, 12/10-Philadelphia, 12/10-New Jersey, 12/11-Boston, 12/12-New York, 12/17-New York, and 12/17-Washington, D.C..


Citizen Soldier Fund
On December 17, 2001 Sen. Kerry opened the Citizen Soldier Fund, a leadership PAC, to help Democratic candidates.  The PAC raised more than $1.9 million and made significant contributions to candidates and committees in Iowa, New Hampshire and South Carolina, in addition to purchasing the Iowa and New Hampshire Democratic parties' voter files.  Citizen Soldier Fund also conducted a couple of trainings for young activists.
Citizen Soldier Fund Finances

Total Receipts
Total Disbursements
Cash On Hand
(at end of reporting period)
FEC Filings 2001-02
IRS (Non-Federal) Filings 2001-02
Post-General Non-Federal

Post-General (Oct. 17-Nov. 25)
Pre-General Non-Federal

Pre-General (Oct. 1-Oct. 16)
3rd Q 2002 Non-Federal

Oct. '02 Monthly (Sept. 1-Sept. 30)
Sept. '02 Monthly (Aug. 1-Aug. 31)
Aug. '02 Monthly (July 1-July 31)
2nd Q 2002 Non-Federal

July '02 Monthly (June 1-June 30)
June '02 Monthly (May 1-May 31)
May '02 Monthly (April 1-April 30)
1st Q 2002 Non-Federal

April '02 Monthly (Mar. 1-Mar. 31)1
March '02 Monthly (Feb. 1-Feb. 28)
Feb. '02 Monthly (Jan.1-Jan. 31)
Yr End 2001 Non-Federal

Yr End 2001 (July 1-Dec. 31)

1. Kerry held his first fundraiser for Citizen Soldier Fund on March 22 at his vacation home in Sun Valley, Idaho; this accounted for most of the April '02 monthly receipts. 

2. Top contributors: 
$59,000 -- Milton Ferrell, Attorney (Miami, FL).
$55,000 -- John P. Manning, President & CEO, Boston Capital (Boston, MA). 
$50,000 -- Robert Clifford, Attorney (Chicago, FL)  --  Patrick J. McGovern, Chairman, International Data Group (Hollis, NH).
$40,000 -- Louise L. Gund, Photographer (Berkeley, CA).
$30,000 -- American International Group, Inc. (New York, NY)  --  B.L. Schwartz, Chairman, Loral Corporation (New York, NY). 
$25,000 -- Robert Batinovich, CEO, Glenborough Corporation (Hillsborough, CA)  --  Jay M. Cashman (Boston, MA)  --  Jeffrey Epstein, President, J. Epstein & Company (St. Thomas, VI)  --  George E. Hall, President, The Clinton Group (New York, NY)   --   Lelio Marino, President, Modern Continental Company (Cambridge, MA)  --  Neil Raymond, President, Raymond Property Company (Boston, MA)  --  Eric E. Schmidt, Chairman & CEO, Google (Atherton, CA)  --  Robert J. Shillman, President & CEO, Cognex Group (Weston, MA)  --  Michael P. Thornton, Attorney (Boston, MA)  -- Agnes Varis, Pres. and CEO, Agvar Chemicals (New York, NY).

* indicates transfer to Citizen Soldier Fund Federal account.

Kerry Committee
Angelique Pirozzi served as campaign manager of Sen. Kerry's re-election campaign.  Previously, she directed the Democrats' coordinated campaign in Wisconsin in Fall 2000, and she worked on the Clinton/Gore campaign in New Hampshire in 1996.  Peter Maroney served as the Kerry Committee's finance director.  Jill Alper, a principal at the Dewey Square Group, helped the campaign as well.

Over the six-year cycle, the Kerry Committee raised $14.0 million and spent $9.1 million, finishing with $2.9 million in cash on hand.  Of the $9.1 million, about $3.2 million went to pay off debts from Kerry's tight 1996 campaign against William Weld.  Kerry will be able to convert the $2.9 million in unused funds to a presidential campaign.  He also built up a direct mail list with about 200,000 names. 
Kerry Committee Finances
FEC reports
Total Contributions
Total Op. Expends
Cash On Hand
(at end of reporting period)
Election Cycle
net $14,020,446.63
net $9,139,341.78
Post-General (Oct. 17-Nov. 25)
net $470,491.46
net $646,409.90
Pre-General (Oct. 1-Oct. 16)
net $195,467.66
net $102,882.10
Oct. '02 Qtrly (Aug. 28-Sept. 30)
net $575,303.16
net $560,929.89
Pre-Primary (July 1-Aug. 28)
net $558,623.61
net $788,916.23
July '02 Qtrly (Apr. 1-June 30)
net $1,461,013.61
net $1,223,486.53
Apr. '02 Qtrly (Jan. 1-Mar. 31)
net $1,231,247.28
net $973,764.33
Yr End 2001 (July 1-Dec. 31)
$ 1,733,370.35
net $1,632,470.35
net $1,038,948.37
Mid-Yr 2001 (Jan.1-June 30)
net $2,184,459.80
 net $382,292.81
Yr End 2000 (July 1-Dec. 31)
net $458,486.16
net $212,220.09

Figures under cash on hand are debts and obligations owed to/by the committee (in red if debts owed by is greater than debts owed to).

Direct mail piece from Sen. Kerry's 
                             re-election campaign, early 2002.
The re-election campaign produced a video "The Courage To Do What's Right" which presages a presidential campaign.

Copyright © 2002, 2003, 2004  Eric M. Appleman/Democracy in Action