Money Race: Malloy Explores $129K — UPDATED w/ Rell Numbers

Dan Malloy’s exploratory committee today reported that they’ve raised $129,675 between Feb. 4th and March 31st, and that they have around $105,000 on hand at present.

This is a whole new campaign finance ballpark, of course. According to these guidelines for treasurers from 2008 (PDF) an exploratory committee can begin raising qualifying contributions (contributions from a candidate’s “district,” in this case the entire state), which for the governor’s race equals $225,000 (see this overview of 2010 for more). There are some restrictions on what candidates can raise during the exploratory phase, including a per-person contribution limit of $375. If more than $250,000 is raised by the committee, they have to give the balance to the Citizens’ Election Fund (any debts are their own, however), and refund any donation amount over $100 back to the donor. Malloy reports raising money from 509 donors, which gives him an average of about $255/donation. Some of that money is going back.

UPDATE 2: The above is incorrect, I misread the (admittedly unclear) rules about exploratory committees, which are not all that robust to begin with. Apparently, a candidate’s exploratory committee could raise as much money as possible, and then spend all of it. The only money in question that would either be given to the candidate committee or to the Citizens’ Election Fund would be whatever surplus of qualifying contributions the exploratory committee has on hand once the candidate declares his/her candidacy. If Malloy, for instance, raises $1 million and spends all but $260,000 of it, and that $260,000 is all qualifying contributions, $250,000 would go on to the candidate committee and the rest would go to the Citizens’ Election Fund. But if he raises that much money and spends all of it, no money would go anywhere.

Right now, there are no real rules for what money raised by an exploratory committee can be spent on, though I’m sure that will become clearer as the campaigns progress.

I expect Malloy and Bysiewicz will both have all the qualifying donations they need set up before their official announcements, however.

I believe that this is the way it works based on the available literature, though any experts should feel free to correct me. We have yet to see fundraising numbers from Bysiewicz, Amann or Rell, which will be interesting for comparison purposes.

UPDATE: pintofguinnessdraft in the comments finds Gov. Rell’s exploratory committee’s filing, and it looks like she’s hauled in… $49,388.00 this quarter.

To be fair, her committee hasn’t exactly been active, but she did very well with fundraising for the 2006 cycle. This cycle, at least so far, she’s lagging behind. Hmm.

Does it mean anything in the new world of public financing? I’m not entirely sure that it does. But I’m not entirely sure that it doesn’t, either.


14 responses to “Money Race: Malloy Explores $129K — UPDATED w/ Rell Numbers

  1. Bruce Rubenstein

    That is pretty much a good general view of how it is.

    From now on a state-wide candidate cannot simply rely on calling rich donors for a $2500. contribution and/or asking that rich donor to throw a fundraiser. The new laws give more “power” to the large town committees and large interest groups like labor unions who can by virtue of their internal organizing draw alot of people for a $100. fundraiser. This puts a premium on a democratic candidate to go talk to the big city folks..labor unions..citizens groupss, etc and gain their support so as to qualify for grants. In addition, a state wide candidate must now use the internet and web pages for fundraising, more then ever. There are also parameters about how much outside money can be raised…

  2. pintofguinnessdraft

    Word is: Rell and her team have been making calls for weeks “dialing for dollars” trying to get huge bounce for the 1st quarter. I am interested in those numbers, its time to cash in on a 75% approval rating.

  3. $70,000 for Rell.

    Good catch. But if I’m not mistaken, the total for this period reads $49,388.00. $70K is the aggregate.

  4. pintofguinnessdraft

    my mistake, I was giving Rell too much credit. These #’s are horrible.

  5. So, heath.

    Care to opine on The Rell’s numbers?

  6. I think the Rell numbers are largely irrelevant. I’m on my town committee and haven’t heard a peep about fundraising. If she asks for money, she’ll get it.

    With regard to the exploratory stuff, it’s an interesting loophole GC. I wonder if it was done intentionally by The Incumbent Party?

  7. pintofguinnessdraft

    It does look as if the Rell Campaign has been phone banking if you look a filing.
    There are expenditures listed for phone banking food.

    I think the Rell numbers are largely irrelevant. I’m on my town committee and haven’t heard a peep about fundraising. If she asks for money, she’ll get it.

    Because, I I’m sure her donor’s list starts with the Cheshire RTC not donors who can maxout in Fairfield County?!?!

  8. wtfdnucsailor

    Here is the link for Malloy’s filing. Since it took me 45 mnutes to figure out the right combination of input in the eCris inquiry, I post this as a service to other inquiring minds.

  9. wtfdnucsailor

    And here is the report from the “Friends of Susan 2010” She has raised $98,150 in the first three months of 2009 and spent $14,792.78 for a remaining total of $83,357.22. Looks like Dan succeeded in raising more than the other “explorers.”

  10. wtfdnucsailor

    For some reason, the Amann 2010 report for the first three months of 2009 has not been posted yet. According to his final 2008 report, he started 2009 with $35,488.67. It is interesting to note that the Amann report is handwritten, not filed the the SEEC eCRIS system.

  11. Because, I I’m sure her donor’s list starts with the Cheshire RTC not donors who can maxout in Fairfield County?!?!

    She hasn’t even mailed State Central members yet; usually we get hit for donations at a ratio of about 5 to 1 over rank and file.

    We even get hit (and often) by out of state campaigns.

    I would doubt Rell will have any trouble raising cash; that’s never been a problem for her before.

  12. wizardsleeve

    pint did you notice that the Gov. spent $12,000 on fundraising and only received 3% on her investment, i believe most campaigns sending out an initial fundraising mailing try to get 8% return. This does not bode well for Rell.

    Also pint you are right with approvals @ 75% she should have no problem but looks as if donors are hedging their bets. This filing should have every high ranking republican on it, local and state but it seems to be missing many.

  13. Jim’s still running? Who knew?

    wtfdnucsailor points out the important detail here – Dan out-raising Susan.

    Round one Malloy.

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