RNC Cash Falls Farther
The RNC has spent more money than it has taken in during every month since July, even as the party brags about an expanded donor base that set off-year records.
The lead GOP committee announced Friday it had raised $6.6M in Dec. But the party spent more than it raised, and its CoH total dropped from $8.75M at the end of Nov. to $8.4M to close the year.
In a memo sent to party leaders earlier this month, RNC exec. dir. Ken McKay touted the party's success in recruiting new donors. This year, 370K contributors have given to the party for the first time, giving them an active base of 1.19M donors, according to an RNC press release.
But recruiting those donors and soliciting money from veteran givers has cost much more than anticipated. The party spent $11M more on donor cultivation last year than an initial budget estimate calculated, and the focus on small-dollar donors has hurt the RNC among its larger givers. The cost of raising every dollar has been much higher than it was the previous year, according to sources familiar with the RNC's budget.
For the entire year, the RNC raised just shy of $91M, including $77.7M during chair Michael Steele's tenure, which began in late Jan. That figure includes transfers from Sen. John McCain's (R-AZ) WH campaign, which arrived at the committee in January.
But the party's cash-on-hand total has dwindled from $22.8M, thanks largely to heavy spending in efforts to win NJ and VA GOV races and on a $2M campaign to beat back health care reform.
During that effort, the RNC released an ad buy the party said cost 6 figures, featuring Steele himself.
The other political committees, including the DNC, have yet to release their fundraising numbers for Dec. Reports are due to the FEC by Feb. 1.
I feel for Steele, this man has got to be one of the most lonliest men in America. Did he not realize why he was chosen for RNC chairman?
Why so critical? This is the only republican organization that pays its bills. During the period 2001-2006, the republicans controlled everything and never paid a bill. They just borrowed the money and assumed that the taxpayers would pay for their excesses later.
Read www.dumpsteele.com to see why the GOP should fire him.
What does it matter? With the recent court ruling, corporations will be dumping money into elections the week before voting day. Democrats will start losing power this year and will never see it again.
Didn't the treasurer for the Congressional republican reelection committee embezzle more than a million dollars over nearly a decade. That might explain donor reluctance.
washpost: june/2008 "The NRCC accused Ward of embezzling...
The RNC will be okay now that SCOTUS has ruled that US Corporations can buy the elections from now on.
Now that the Supreme Court has kneeled down to Big Business the RNC will have no more financial problems.
People are donating to candidates, not to the party, because they know the hacks at the RNC will spend it on losers like Dede Scozzafava.
Disgustedcitizen - the corporate money will finally even out all the ACORN and union money.
bobbymike: do you really think Unions have the deep pockets of corporations?? I'm not debating that Union dollars haven't matched Corporations in the past, because that's not true-but that's only because there were limits. Now with no limits things won't even out, the tide will totally flip to corporations and that won't be a good thing if your a liberal, conservative, democrat, republican, independent or "other".
The RNC doesn't need money, the supreme court just gave the republicans unlimited coffers.
I've given money in the past to the RNC. No more. Any donations I make will go directly to the candidates I support. That started for me with Scott Brown.
As an ordinary citizen I have faith in my fellow man let the corporations try to control elections we will see what this gets them I believe people will donate in mass to counteract them. I believe corporations are not willing to become the public relations nightmare that Enron was Republicans are counting their chickens way too fast and may find themselves very disappointed. Its about the dollar and listen carefully Republicans there are not enough of you to drive business profit they need the entire population.
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