PA-Gov: A Look Into Tom Wolf’s First 2014 Financial Report
Unlike last time, Tom Wolf didn’t blow anyone anyway with his fundraising haul. In fact, he might have disappointed a few observers who were expecting another large figure.
Wolf ended up bringing in a respectable $611,407, but that total does not properly illustrate the financial advantage that the former Revenue Secretary still has.
The Democratic front-runner brought in over $11.8 million from his last quarter, aided significantly by his $10 million personal contribution to the campaign.
Meanwhile, all those ads that have put him at the top of the polls didn’t come cheap as the campaign spent more than $5.3 million in the first three months of 2013. Nonetheless, Wolf still has a massive $7,057,546 cash left on hand and $0 in debts and obligations.
Given this advantage, Wolf could spend his time on retail politics while focusing less on the fundraising circuit.
Wolf accumulated over $18,000 in in-kind contributions, in addition to the other contributions to his campaign.
The man renowned for his cabinet business greatly benefitted from his York County friendships. Louis Appell Jr., for instance, gave $200,000 which is almost a third of Wolf’s total. Appell, the Chairman of Susquehanna Real Estate, is one of the most powerful men in York County and as a Wolf family friend has known the candidate since he was a child.
He also received an additional $50,000 from George W. Hodges, who has worked for the Wolf Organization since 1986. Hodges even served as Chairman of the Board from 2008 to 2009, a period of time when Wolf was away serving in the Rendell Administration and considering a run for Governor.
For a better look at how the campaign has been so effective, though, you have to look at where all that money has gone.
The campaign spent an enormous amount of money on consultants. Groundswell Public Strategies led the pack with $142,696 while Capitol Compliance Associates, an organization that offers advice and assistance on campaign financing, received $42K in services. Joe Cullen also earned $26,000 as a consultant.
Any serious campaign does its own polling and we found out yesterday that Wolf’s campaign has done its own polling. It turns out they spent an impressive sum for that service, ultimately giving $113,000 to Greenberg Quinlan Rosner Research.
Finally, the campaign paid the PA Democratic Party $25,000 for access to their Vote Builder program.
Altogether, the campaign posted a 876% burn rate during the first three months of 2014, given the success they’ve had and the resources that are still at their disposal, it seems it was money well spent.