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The Scoop: Raimondo Set to Break Quarterly Fundraising Record

Friday, October 11, 2013


Welcome to The Scoop, the 4 p.m. report on everything politics in Rhode Island – the inside daily report exclusively on GoLocalProv.com.

Raimondo Set to Break Fundraising Record for a Quarter

GoLocal has learned that likely 2014 gubernatorial candidate Gina Raimondo posted a record-breaking third quarter of fundraising in the financial period ending Sept. 30.

According to members of Raimondo’s team, the State Treasurer raised over $400,000 last quarter, which began on July 1 and ended Sept. 30.

Although the Raimondo camp has not released the exact figures yet, an estimate of $400,000 would bring Raimondo total cash on hand to more than $2.46 million, which would be the most money a candidate running for state office in Rhode Island has ever finished a three-month period with.

Raimondo finished the last fundraising period (April 1 through June 30) with $2,063,548 on hand after raising $399,420.

The news comes just one day after The Scoop reported that a recent gubernatorial primary poll commissioned by Angel Taveras—which showed the Providence Mayor with a commanding lead—might have strengthened Raimondo’s recent fundraising efforts.

In comparison, Frank Caprio—who was the gubernatorial fundraising leader in 2010—posted his best quarterly period from April 1 through June 30, 2010 when he raised $320,789. After expenses, that brought his campaign total to $1,742,505.

Although Raimondo’s fundraising tally is record-setting on a state level, U.S. Senator Jack Reed currently has more money in his re-election war chest. In fact, Reed—who is seeking his fourth term—raised more than $704,411 during the three-month period ending June 30, which, after expenses, brought his fundraising total to $2,566,703.

Look for more specific financial information to be revealed later this month, as candidates are required to submit their third quarter fundraising by Oct. 31.

Despite the deadline being weeks away, Cranston Mayor Allan Fung released his third quarter fundraising totals on Thursday. Fung, who launched an exploratory committee for governor last month, raised roughly $102,000—bringing his fundraising total to more than a quarter of a million dollars.

Taveras, who has yet to release his third quarter fundraising figures, finished the last quarter with $692,590.12 cash on hand.

Source of data: ricampaignfinance.com

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