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My Left Nutmeg

Himes Makes Every Dollar Count

by: CaptCT

Thu Jan 17, 2008 at 13:03:57 PM EST


I thought I would take a minute to put Jim Himes' fundraising numbers into perspective.

When you think about the qualities every Congressman should have, one that instantly comes to mind is "Does he understand the value of a dollar, and know what to do with it?"

A look at Jim Himes' campaign finances offers a clear answer to that question. The guy makes every dollar count.

Himes's nine-month fundraising total of $944,000 -- including $325,000 in the third quarter -- is more than any challenger to Chris Shays in an off-election year. (Diane Farrell had raised about $575,000 at this point in her 2006 campaign.) Even more impressive is that Himes' "burn rate" -- the percent of the money he's spending -- is just 15%.

Of the $944,000 Himes has raised, he still has about $800,000 in cash on hand. By comparison, Chris Shays had a burn rate of $37% through September, after spending more than $300,000. (Latest totals for Shays are not in yet.)

Equally important is that a good number of Himes' donations are coming in small  amounts -- nearly 1300 donations of less than $250. Those $25-$50 gifts add up, especially when you have a large base of support.

Having seen Jim Himes at his living room table stuffing envelopes with teams of volunteers, I can attest to the fact that he values every donation -- and every volunteer.

Maybe it was the years he spent managing scarce dollars for nonprofits like the Enterprise Foundation. Or maybe it was his years at Goldman Sachs (the one investment firm NOT burned by the mortgage crisis). Wherever the experience has come from, Himes is demonstrating that he'll put your tiniest little donation, or your tax dollars, to good use. As a Congressman, that's a valuable trait to have.  

CaptCT :: Himes Makes Every Dollar Count
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Credit where it's due (4.00 / 1)
Among the reasons the Himes campaign manages its money so well - he has the most frugal campaign manager I've ever met! Spending this low suggests she deserves a raise!

This is awesome news. It will be interesting to see Shays's report.

CaptCT, FYI- "burn rate" is usually expressed in monthly terms. The campaign's monthly burn rate is far lower than 15%.


Quarterly (0.00 / 0)
Not monthly. For example, many of these presidential campaigns  have had over 100% burn rates during various quarters. **Cough McCain cough**...

[ Parent ]
Hear, hear! (0.00 / 0)
I second Neal....I also want to see Shay's campaign
financial report!

Speaking of this topic, it made the CT Post this
morning, first section of the paper!

"Waiting....waiting on the world to change"  --John Mayer


[ Parent ]
But not the right-wing rag Greenwich Time (0.00 / 0)
Check out how they treated Jim Himes' announcement.  Not only was the article shunted to the inside pages, but it was accompanied by a photo that was straight out of the Soviet school of photo-journalism: the grainy black-and-white photo shows Jim Himes in a posture that makes him look as though he has just belched loudly at a state dinner at the White House.  The approximately 400-word article devotes almost half of its length to 1) a reply from Shays' campaign manager, and 2) comments by the whackjob non-entity Lee Whitnum.  It seems that the writer, GT's Democrat-Basher-in Chief Neil Vigdor, is determined to make Whitnum seem as though she's a viable candidate, and to undermine Himes in these early days of the campaign.  Is that in character for Vigdor?  You bet it is: just check out his political hit jobs against state senate candidate Frank Farricker last year, and the anti-Semite smear against Moveon.org and Ned Lamont before the general election.

What bumped Jim Himes' announcement off the front page?  Well there is this important article: "Volunteers to keep tabs on fish", and then there is the "Bush weighs relief plan" article.  Of course, if you find it odd that a newspaper that is devoted to covering the town of Greenwich so single-mindedly that it rarely includes any articles about neighboring Stamford or New York's Port Chester would bump an article about town resident Himes in favor of a story about George Bush, you're not alone.  But you're also figuring out that Greenwich Time will do just about anything, no matter how blatant, to continue to diss Democrats.

Want to see a change?  Write to the publisher John Dunster.


[ Parent ]
I know! (0.00 / 0)
That photo was AWFUL!!



[ Parent ]
Recommendation ... Very Important (0.00 / 0)
When you see an article about Jim Himes in your local paper, write a letter to the editor THANKING the paper for the coverage, praising the writer for a particularly good story, correcting any factual errors or misperceptions, and mentioning what a great candidate Jim is.  

Your personal endorsement of a candidate is more valuable than any advertisement. Use those articles to make your endorsements.

Likewise, when you read something about Chris Shays in the paper, use that as an opportunity to set the record straight on whatever issue the paper is covering, and also mention why Himes would be better on that issue.

There are a lot of fantastic writers on MLN. It would be great to put those talents to use effectively.  


[ Parent ]
Question (0.00 / 0)
Is there any benefit that I am unaware of by donating to Himes through ActBlue on this site or through ActBlue on any other progressive site? I know it is convenient and a site gets boosting rights regarding the amount they raised but is there any other benefit? I was traveling and caught headlines regarding federal matching funds and Edwards ActBlue contributions but do not know how that finally played out. I know there are not matching funds for a congressional seat but wondering if I should just donate directly to Himes or through ActBlue? Yes, I got a raise this week, small but it helps.  

There is a small benefit to Himes (4.00 / 3)
... if you mail a check, because there is no processing fee.

However, there is a small benefit to CGG if you give through ActBlue. Plus, in the dog-eat-dog world of netroots contributor bragging rights, I suppose you could make a case that donating via ActBlue gives Jim some additional street cred along with your money.

–7.25 / –7.28

http://imgs.xkcd.com/comics/tw...


[ Parent ]
Use ActBlue (4.00 / 3)
There is a small benefit to Himes...
if you mail a check, because there is no processing fee.

Matt's quote is the conventional wisdom. But, the consensus among fundraising and finance experts these days is that the credit card fees are actually less than the administrative cost of handling checks - especially for smaller contributions.

And, as Matt says, show CGG some love. http://www.actblue.com/page/ml...


[ Parent ]
ActBlue the way to go (0.00 / 0)
I think...that's how I donated to the Himes campaign
for the last 2 pub quiz fundraisers that were held
for him... :)

"Waiting....waiting on the world to change"  --John Mayer

[ Parent ]
thanks (0.00 / 0)
Equally important is that a good number of Himes' donations are coming in small  amounts -- nearly 1300 donations of less than $250.

Make that 1301 for now. The closer it gets to the election and the more Shays pisses me off, the more my contributions go up.

I guess I'll donate through ActBlue this time to give Himes some early street cred and CGG some benefit but cannot imagine that Himes administrative costs would be higher than credit card fees. How can that be? Plus would administrative costs be helping Maura and Tparty?


[ Parent ]
A lot of fundraising people (4.00 / 3)
... will charge a percentage of what they raise, so while online donations take a 3-4% ding for Mastercard or Visa, fundraising consultants can take 10% or more. Plus, mailings with a mixed response rate, preparing call sheets for the candidates, not to mention the occasional stocked bar or brunch outlay for fundraisers all take time and money. In that context, losing 3-4% is actually a good deal in order to raise $$ from a campaign contributor you did not meet or call or feed rubber chicken to or what have you.

If you were going to send a $10 donation, the CC fee is pretty much the cost of a stamp. If you're going to give $2000 -- well, I'd hold out for the rubber chicken and bring it in person :)

–7.25 / –7.28

http://imgs.xkcd.com/comics/tw...


[ Parent ]
No rubber chickens! (0.00 / 0)
We've gotten this far in fundraising without any rubber chicken dinners.  I'm holding out that we'll make it all the way without any major outlays for bad catering.

Republicans had the right idea when they started having high-dollar fundraisers a few years ago where they served pretzels and hot dogs.  High dollar donors aren't hungry; they just want access to the candidate and other influentials and a way to socialize.  They don't need to be fed at 100/plate for a $150 dinner.  At least I hope they don't.  :-)

And more importantly, we don't pay commission-based fundraising consultants!  


[ Parent ]
Thanks!!! And a quick clarification.... (4.00 / 2)
First of all, thank you so much for your support. We really appreciate any and all contributions - financial, volunteer, etc. - no matter how they get here!

Neal's point about the overhead for processing checks for large-scale fundraising operations is well taken; however, right now we are running an entirely volunteer check processing operation.  We are blessed with an amazingly dedicated volunteer treasurer and an incredible volunteer who processes our checks every day.  So no overhead!

A bit on credit card processing fees -- Amex is MUCH higher than MC or Visa, so if you want the most bang for your buck for your online contribution and would rather your favorite campaign keep as much money as possible, use MC or Visa.  

We really appreciate ActBlue, and not just because Melissa works there, for their all-around support for Democratic candidates.  From a purely money standpoint though, it's slightly cheaper for us if you contribute through our web page rather than through ActBlue.  

For small dollar donations, online (with Visa or MC) is definitely easier all around, primarily for you.  (If you're donating $15 online, we pay 60 cents in processing fees.  Not a big deal, and cheaper than the two stamps we'd need to chase down a pledge by mail.)  But if you're making a larger donation to a campaign, definitely write a check.  

If the credit card processing fee is 3.95% and you're writing a $1000 check, that's $39.50 that goes to the credit card company rather than the campaign.  And believe me, I can do a lot with forty bucks!  If a double-maxout donor ($4600) contributes online, that's $181.70 that the campaign loses.

However, if there's a chance that the hassle of writing a check, finding a stamp, and dropping off the check in the mail will make you LESS likely to donate at all (and there are lots of busy people for whom this is true) then we fully encourage all donors to give online!


[ Parent ]
Feeling the Love... (4.00 / 3)
I'm really enjoying this discussion and I hope no one minds if I jump in with a few points.

The beauty of contributing through ActBlue is that it grows MLN's own influence in the CT political community.  Anyone can see how much MLN has raised for candidates through its fundraising page, and just as important: anyone can see how many MLNers have given contributions.    Additionally contributions through ActBlue show up on the site in real time which is a powerful tool.  The blogswarms used so effectively by the national blogs are a good example of this.

As for the costs my understanding is if the campaign has enough check volume to have to hire a cashiering firm (which most congressional campaigns do), their total fees usually exceed that of credit card processors.  And if the campaign is too small to make a cashiering operation cost effective, the staff time spent opening mail, entering data, preparing deposits, and getting them to the bank is quite substantial.

Besides, most of us can't afford to max out to candidates.  What we can do is come together and maximize the impact of contributions to a candidate.  I can say from experience that campaigns and politicos in CT and across the country are paying attention to netroots fundraising efforts.  One advantage in Connecticut is that a good number of Democratic candidates have a basic understanding of the importance of blogs.  Keeping that in mind, the CT blogging community shouldn't underestimate its own influence.  Every dollar raised on ActBlue, every new contributor raises MLN's political profile.  And come November when Jim Himes wins, MLN will have even more proof of its political clout.  

Disclaimer: I proudly work for ActBlue.


[ Parent ]
Jim Himes is soooo cheap (4.00 / 7)
How cheap is he?
  • He only goes to the grocery store to eat free samples.
  • He named himself as beneficiary in his will
  • He married a skinny girl so he could buy a smaller ring
  • His wife wanted to "see the world," so he bought her a map
  • When he donates money to charity, he likes to remain anonymous, so he doesn't sign his name on the check.
  • When he takes a dollar bill out of his pocket, George Washington blinks at the light.
  • He even has a burglar alarm on his garbage can.


You need 3 more (0.00 / 0)
and you could write for the top ten with David Letterman. Still, wouldn't putting a burglar alarm on his garbage can be a little extravagant?

The arc of history is long, but it bends toward justice. --Martin Luther King, Jr.

[ Parent ]
 
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