Joint Fundraising Committees
The presidential candidates and their respective political parties have formed a number of so-called joint fundraising committees in the 2008 election to collectively raise money. Donors write one large check, usually so they can attend an event headlined by the candidate, and the money then gets divided according to pre-determined portions and contribution limits. In a frequent scenario, the contributor makes a five-figure donation. The candidate takes a share–often the maximum allowed per individual donor, the national party takes a cut and the remainder is split among state parties. Donors to these joint fundraising committees, or JFCs, are among the biggest fish in political fundraising.
Since John McCain is receiving public financing for the general election, he can’t collect any of this money anymore for his campaign. But he can appear at the events where the parties continue to raise money used to support his campaign. Barack Obama is relying on private funds and can continue to take a portion of what’s collected by Democratic JFCs. Information was obtained from The Center for Responsive Politics.
John McCain
| Committee Name | Receipts | Spent | Debts | Cash on Hand |
|---|---|---|---|---|
| McCain Victory 2008 | $75,812,352 | $73,951,645 | $0 | $1,860,706 |
| McCain Victory California | $15,396,847 | $14,336,034 | $0 | $1,060,812 |
| McCain Victory Cmte | $11,878,426 | $11,715,638 | $0 | $162,786 |
| McCain Victory Florida | $3,182,704 | $3,036,952 | $0 | $145,750 |
| McCain Victory Kentucky | $649,169 | $645,161 | $0 | $4,007 |
| McCain Victory Ohio | $4,384,290 | $4,170,910 | $0 | $213,378 |
| McCain-Palin Victory 2008 | $59,589,866 | $44,013,871 | $0 | $15,575,995 |
| McCain-Palin Victory California | $4,594,642 | $756,137 | $0 | $3,838,505 |
| McCain-Palin Victory Michigan | $5,590 | $1,347 | $0 | $4,242 |
| McCain-Palin Victory Ohio | $1,201,345 | $818,221 | $0 | $383,122 |
| Total to All McCAIN Cmtes | $176,695,231 | $153,445,916 | $0 | $23,249,303 |
Barack Obama
| Committee Name | Receipts | Spent | Debts | Cash on Hand |
|---|---|---|---|---|
| Cmte for Change | $11,776,739 | $9,995,659 | $0 | $1,781,079 |
| Democratic White House Victory Fund | $9,857,484 | $9,857,482 | $0 | $0 |
| Obama Victory Fund | $161,971,737 | $142,031,187 | $0 | $19,940,549 |
| Total to All OBAMA Cmtes | $183,605,960 | $161,884,328 | $0 | $21,721,628 |
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Tags: Barack Obama, Democrats, jfc, john mccain, joint fundraising committees, Republicans
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