Raising Money: Year End 2001

Raising Money: Year End 2001 (July 1-Dec. 31, 2001)*
*Some of the committees, as indicated by an "*," report July 10-Dec. 31.
See related report--Spending Money: Year End 2001

Leadership PACs and Other Candidate Committees
Leadership PACs fund political travel and make contributions to candidates and party committees. The committees' federal accounts can raise money in contributions of up to $5,000. Some of the committees (Daschle, Kerry and Gephardt) also have separate Section 527 accounts which take non-federal (soft money) contributions; these 527 accounts have no contribution limits and can accept contributions from corporations and unions. They report to the IRS rather than the FEC. Committees can transfer money from the nonfederal 527 accounts to their federal accounts for joint activity. Note that several of these committees were just getting organized and running in late 2001.

In the table below, federal and nonfederal accounts are shown on separate lines. The federal account receipts are broken out to show the federal money raised, the nonfederal money transferred in, and the total as shown in the FEC report. The Section 527 (nonfederal) disbursements includes the money transferred to the federal account. Finally, the grand total of federal and nonfederal dollars raised by the PAC is shown in a third line.

In addition to leadership PACs, some of the prospects are raising money for their re-election campaign committees. Left-over money from 2002 federal re-election campaigns can be transferred directly to later federal campaigns, such as a 2004 presidential campaign. Another type of committee is the joint fundraising committee, an example of which is the Daschle Victory Fund.

Some of the leadership PACs have amusing names or acronyms (then-Sen. Bob Kerrey managed to come up one of the best names back in 1998 when he launched Building America's Conscience and Kids or BACK PAC).

**Table I: Selected Leadership PACs Ranked by Total Receipts (Federal and Nonfederal)**
Year End 2001 July 1-Dec. 31, 2001 *
*indicates July 10 rather than July 1
New American Optimists (EDWARDS)	$731,850
DASHPAC* (DASCHLE)	$670,404 ($370,204 fed. + $300,200 nonfed.)
ROCPAC* (LIEBERMAN)	$659,098
Effective Government Committee* (GEPHARDT)	$412,485 ($221,735 fed. + $190,750 nonfed.)
Leadership '02 (GORE)	$385,460
Fund for a Healthy America (DEAN)	$111,318
Citizen Soldier Fund (KERRY)	$ 76,000

**Table II: Fundraising and Spending for Selected Democrats' Political Committees**
Year End 2001 July 1-Dec. 31, 2001 *
*indicates July 10 rather than July 1
.	.	Cashon Hand 07/01/01	Receipts	Disbursements	Cash on Hand 12/31/01
Fmr VP Al GORE (1)	Leadership '02 (FEC)	$ 281,701	$ 385,460	$ 630,104	$ 37,057 $62,973
Sen. Tom DASCHLE (2)	DASHPAC (formed February 1999) (FEC-federal)*	$1,009,553	$ 370,204 (fed.) $ 145,833 (trans.) $ 516,038 (tot.)	$ 431,640	$1,093,951
	(IRS-Section 527)		$ 300,200	$ 563,082
	Total (fed.&nonfed.)		$ 670,404
	A Lot of People... ('04 re-election) >	$ 734,360	$ 216,773	$ 82,419	$ 868,714
Gov. Howard DEAN (3)	Fund for a Healthy America (formed Nov. 8, 2001) (FEC)	$ 0	$ 111,318	$ 2,364	$ 108,954
Sen. John EDWARDS (4)	New American Optimists (formed Aug. 28, 2001) (FEC-federal)	$ 0	$ 731,850	$ 38,765	$ 693,085
	Edwards for Senate ('04 re-election) >	$1,207,104	$ 306,087	$ 185,433	$1,327,739
Rep. Dick GEPHARDT (5)	Effective Government Committee (formed 1985) (FEC-federal)*	$ 62,274	$ 221,735 (fed.) $ 106,289 (trans.) $ 328,024 (tot.)	$ 344,472	$ 45,825
	(IRS-Section 527)		$ 190,750	$ 147,092
	Total (fed.&nonfed.)		$ 412,485
	Gephardt in Congress Committee ('02 re-election) (FEC)	$ 501,823	$1,090,814	$ 409,583	$1,183,055
Sen. John KERRY (6)	Citizen Soldier Fund (formed Dec. 17, 2001) (FEC-federal)	$ 0	$ 76,000 (fed.) $ - $ 76,000 (tot.)	$ 0	$ 76,000
	(IRS-Section 527)		$ 25,000	$ 0
	Total (fed.&nonfed.)		$ 101,000
	The Kerry Committee ('02 re-election) >	$2,330,587	$1,752,830	$1,145,516	$2,937,901
Sen. Joe LIEBERMAN (7)	ROCPAC (formed late March 2001) (FEC)*	$ 472,365	$ 659,098	$ 562,451	$ 569,012

others to watch
Sen. Joe BIDEN	Citizens for Biden ('02 re-election) >
Sen. Chris DODD	Friends of Chris Dodd 2004 >	$ 900,356	$ 255,186	$ 155,015	$1,000,527
Sen. Russ FEINGOLD	Feingold Senate Committee >
Sen. Hillary Rodham CLINTON	HILLPAC (FEC)	$ 237,036	$ 677,104	$ 723,208	$ 190,932

Notes.
1. Gore did not do any fundraising for Leadership '02 in 2001; this is money that "just came in."

2. DASHPAC's federal account received 167 contributions from individuals totalling $217,550 and 43 contributions from political committees totalling $140,500. The Section 527 (soft money) account showed 43 contributions totaling $300,200. Included in this amount was a $40,000 contribution from Reaud Morgan and Quinn, a partnership in Beaumont, TX; $20,000 from The Reaud Law Firm in Beaumont, TX; $15,000 from the National Thoroughbred Racing Assoc.; and 15 $10,000 contributions.

In all of 2001 Sen. Daschle did a total of 36 political fundraising events. (After September 11, he did no political fundraisers until November). The 36 fundraisers included 19 DSCC events, 9 candidate events, 4 DSCC/candidate events, 3 DASHPAC events, and 1 Unity/DNC event.

3. The first two checks to Dean's Fund for a Healthy America were recorded on November 13--a $250 contribution from Dr. William E. Callahan, Jr., a psychiatrist from Irvine, and a $250 contribution from Ms. Marni J. Cretz, president and CFO of ocdm Marketing of Laguna Beach. All told the Fund received 48 contributions totalling $111,300 plus $17.64 in interest. This included 16 $5,000 contributions. $67,000 of the $111,300 (just over 60 percent) came from Vermonters.

4. The first check to Edwards' Optimists, a $2,500 contribution from Louis B. Susman, a vice chair at Salomon Smith Barney in Chicago, was recorded on November 2. The Optimists got off to a strong start, raising over three-quarters of a million dollars in about two months. Edwards does not take PAC contributions. Many people contributed the maximum $5,000--of 170 contributions the committee received, 141 were $5,000 contributions, accounting for over 90 percent of the money raised. An overwhelming proportion of contributions came from lawyers: 118 of 170 contributions were from people who self-identified as attorneys (this also included a few legal associates/secretaries); further, quite a few spouses or family member of attorneys (some identifying as "civic leaders") contributed, so the share attributable to the legal profession is actually higher. The report shows Edwards has national reach; just 13.6 percent of the money raised (45 contributions totalling $100,000) came from North Carolina. By comparison, 38 contributions totalling $177,000 came from Mississippi.

Adding the Optimists' total and the money raised for his 2004 re-election campaign, Edwards' grand total for the second half was over $1 million.

5. Gephardt's EGC federal account received 95 contributions from individuals (including 18 $5,000 contributions) totalling $158,850, and 15 contributions from political committees (including 11 $5,000 contributions) totalling $61,500. Gephardt's Section 527 (soft money) account showed 33 contributions totalling $190,750. Included in this amount were contributions of $25,000 from First Data Corporation of Englewood, CO; $25,000 from Park Place Entertainment of Las Vegas, NV; $20,000 from Anthony D. Kurtz, president and CEO of Kulite Semiconductor of Leonia, NJ; and four $10,000 contributions.

As the leader of the House Democrats, Gephardt helps raise substantial amounts of money for the DCCC.

6. Citizen Soldier Fund received 16 contributions from individuals in late December. All but one was a $5,000 contribution. The 527 (soft money) account received two $10,000 contributions and a $5,000 contribution.

7. ROCPAC received 241 contributions from individuals (plus another 10 memoed contributions from partnerships/earmarked) totaling about $580,000. ROCPAC also received contributions from 31 different political committees totalling $75,750.