Center for Responsive Politics' 10/16/03
release on 3nd Quarter Reports
Debts+Obligations is the net figure (i.e. Debts and Obligations Owed By the Committee - Debts and Obligations Owed To the Committee).
The Clark campaign brought in $3.5 million in contributions in just two
weeks (Clark announced his candidacy on Sept. 17). The campaign reported
approximately 21,000 donors, an average contribution of $167, and about
two-thirds of the money raised on line. It finished the quarter with
$3.4 million in cash on hand.
Dean for America weighed in with "the largest FEC report ever compiled
by a Democratic presidential campaign." The campaign raised $14.8
million during the quarter, eclipsing the record held by Bill Clinton,
when he was the incumbent president. The average donation for the
quarter was $73.69 and the average online donation was $61.14. Roughly
$7.3-7.4 million was raised over the Internet. Over 10,000 people
hosted or attended house parties in the quarter; one highlight was the
world record largest conference call involving 3,466 people. Ten
days out from the end of the quarter, Joe Trippi set a goal of $15 million
by the end of the quarter. At that point the campaign had raised
$9.7 million. The baseball bat graphic
was posted on the campaign's web site (actually five $1 million bats)
. The campaign met the challenge of the five bats, but it fell a
tad short of the $15 million; Trippi took responsibility for the "rounding
error." Some reporters questioned the campaign's burn rate,
the $8.8 million spent in the quarter. Campaign manager Joe Trippi
responded that "running a national campaign is expensive" and pointed to
investments such as the Sleepless Summer tour, staff in about a dozen states,
and advertising in a number of states. Further $12.4 million in cash
on hand placed the campaign well ahead of the nearest Democratic competitor
(although well behind President Bush). Trippi said the campaign had
had to boost its compliance staff to meet the challenge of getting the
report done in 15 days--when printed out the report was over six feet tall.
"The FEC is going to have to change all these regulations," Trippi said.
Looking to the future, the campaign appeared in good shape; fewer than
1 percent of donors had contributed the maximum $2,000, leaving them free
to make further contributions. Still under consideration is whether
the campaign will opt in or opt out of public financing.
The campaign's Oct. 15 press release highlighted its total receipts for
2003, which at $14.5 million were the third highest total of the Democratic
presidential campaigns ("Edwards Number Three in Total Raised").
However, total receipts for the third quarter were just $2.6 million, placing
the campaign sixth behind Dean, Kerry, Gephardt, Lieberman and Clark.
And, that figure included $460,609.00 transfered from Edwards' Senate committee.
Further, the campaign spent $5.9 million for the quarter, or more than
twice what it brought in. Campaign Manager Nick Baldick stated, "Our
goal from the beginning of the year was to raise $20 million this year,
and we are on track to meet that goal." Through the end of the 3rd
Quarter, the campaign reported spending $715,920.31 in Iowa, $535,872.17
in New Hampshire, $370,146.56 in South Carolina, and $196,591.98 in Oklahoma.
Gephardt's fundraising, while not stellar, has been consistent. The
$3.8 million the campaign raised placed Gephardt third for the quarter
and roughly matched its 2nd Quarter total. However the campaign spent
$4.2 million, reducing cash on hand to $5.9 million.
Sen. Graham ended his campaign shortly after the end of the 3rd Quarter,
on October 6. His campaign raised just $1.4 million in the quarter,
putting him eighth among the Democratic candidates.
$4 million raised in the quarter 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's Oct. 15 press release opened, "While many presidential campaigns
decline in fundraising, the insurgent Kucinich campaign today is filing
its financial statement showing an increase." The increase
was modest to be sure, from $1.56 million to $1.66 million. According
to the campaign, the average donation for the quarter was $72. The
campaign reported that much of the total was raised on the Internet, that
nearly $1million was raised in September, and that house parties around
the country on September 21 raised nearly $300,000.
Lieberman: The campaign's Oct. 15 press release highlighted "raising $11.76 million in the first three quarters of 2003," then noted that it raised $3.6 million in the quarter. The campaign spent slightly less than what it brought in to finish with $4 million in cash on hand. The campaign reported more than 11,000 contributions in the quarter.
Copyright © 2003 Eric M. Appleman/Democracy in Action.