Senator Bernie Sanders (I-VT) is currently leading the Democratic primary in money raised, setting numerous fundraising records. His campaign raised $6 million in small dollar donations within the first 24 hours, and in less than a week already had accumulated a million volunteers in every US voting district. And according to campaign finance records, he has more money than all of the Democratic Party’s leading campaign organizations.
Reddit user /u/LoneStarMike59 recently combed through filings from the Democratic National Committee (DNC), the Democratic Senatorial Campaign Committee (DSCC), and the Democratic Congressional Campaign Committee (DCCC), all of which coordinate fundraising for candidates running for federal office, in both the House and Senate.
When factoring in the total assets of all three organizations — including current debt on their respective balance sheets — /u/LoneStarMike59 found that all three organizations are still not as flush with cash as Sanders’ 2020 campaign.
The math checks out on /u/LoneStarMike59’s post. According to the DNC’s first quarter filing with the Federal Election Commission (FEC), the organization has $9.3 million in cash on hand as of March 31, 2019, but also has $6.5 million in outstanding debts and loans owed, leaving a net balance of $2.8 million. The DSCC is still deeply in the red, with $19.1 million in outstanding debts and loans owed and only $12.7 million in cash on hand, resulting in a net negative balance of -$6.4 million. The DCCC, for its part, is the most financially stable of the three organizations, with $14.8 million in cash on hand and $6 million in debts and loans owed as of March 31, bringing the net balance to $8.8 million.
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