With half a billion dollars raised throughout the presidential primaries and nearly $100 million accumulated by candidates for office in New York, it is indisputable that money matters. But how the money matters is what separates winners from losers. Money raised shows candidates' ability to get their message across to voters and who is listening.During the Democratic presidential nomination, Senator Hillary Clinton amassed a sizable war chest from "Hollywood and Wall Street" Democrats. Conversely, Senator Barack Obama cultivated a steady stream of small donations from across the nation. When Clinton's core donors reached their limits for contributions, and money was spent quicker than it came in, she struggled mightily to keep pace with Obama's unparalleled grassroots organization. Buried under a month-long avalanche of Obama victories without the money to get her message out to voters, the nail was effectively put in Clinton's presidential coffin.
Similarly, candidates on the ballot in New York are breaking the bank compared with years past. Senate Democrats, under the leadership of Minority Leader Malcolm Smith, are in their strongest financial position in years, as they attempt to win control of the State Senate for the first time in forty years.
Although Republicans retain a sizable advantage, with $6 million to the Democrats $1.5 million, this represents a stark turnaround from just four years ago when the Democrats were a half million in debt. The source of the Democrats' money is a telling sign of their mounting success.
Previously, contributions came primarily from wealthy liberals, but now, Democrats have expanded their base of support to include working class families and the business community. More money from more people means more votes and an increased chance to win elections.
Councilmember James Gennaro, who is seeking to unseat incumbent Senator Frank Padavan, raised about $400,000 compared with Padavan's $100,000. Though Gennaro has a significant edge in fundraising, Padavan is not as vulnerable as his numbers indicate because of the enormous support he enjoys from voters within his district.
State Senator Serphin Maltese raised over $600,000 for his race against likely challenger, Councilmember Joseph Addabbo Jr. But more important for Maltese are his 104 donations totaling $64,335 from public safety sector groups who vote in large numbers.
Though citywide races are still fourteen months away, candidates are showing their collective teeth by raising huge sums early, to possibly dissuade others from running. Setting the pace among prospective mayoral candidates, with $5 million raised, were Congressmember Anthony Weiner and city Comptroller William Thompson Jr. If the fundraising numbers hold true, Weiner's middle-class-messaged campaign may find itself pitted against Thompson's reputation as a brilliant fiscal innovator.
In the race for Comptroller, Councilmembers David Weprin and Melinda Katz raised about $300,000 and $200,000 respectively during the latest period. Weprin wisely spent some of that money laying the groundwork in vote-rich Brooklyn.
Katz, on the other hand, was dealt a minor defeat when her request to raise money for an anticipated Democratic runoff was rejected by the Campaign Finance Board. It was speculated that Katz, who relies heavily on contributions from the real estate community, was trying to circumvent campaign finance limits. If Katz's request was accepted, real estate professionals who already gave her the $4,950 maximum allowed by law could contribute a new $2,475 to her runoff account, instead of the $200 limit under the new rules that take effect in December.
One of the more interesting stories among Queens' lawmakers is Councilmember John Liu. With over $800,000 raised during the recent filing period, and an astounding $3 million total, Liu is a serious contender for either Comptroller or Public Advocate. However, the most remarkable aspect of his fundraising is the source of donations.
Twenty-five of the forty-four donors who contributed $4,000 or more to his campaign during the latest filing have never before donated to a New York City campaign! By introducing new followers to the political process, and harnessing the untapped support of the African-American, Latino and Asian communities, Liu is a force to be reckoned with.
When it comes to political campaigns, money does matter. But particularly during an era of contribution limits and public financing, the "who" far outweighs the "how much" as an indicator of a candidate's ability to generate support among voters and perform the most important of tasks, win elections.
News and Notes
Councilmember Peter Vallone Jr. raised over $100,000 during the latest filing period, bringing his total to $800,000 in the race for Queens Borough President (QBP) . . . Assemblymember Audrey Pheffer, another top candidate for QBP, has raised just under $350,000 to date . . . Councilmember and Public Advocate candidate, Eric Gioia raised over $300,000 this period, increasing his total to over $2 million.
Austin Shafran has served on the staffs of some of the borough's elected officials, including Congressmember Gary Ackerman, Assemblymember Mark Weprin and Councilmember David Weprin. Currently, Shafran is the Director of Political & Governmental Relations for Sheinkopf Ltd., he provides political consulting and strategic media relations for both private and public sector clients, including many elected officials.
