The ever important figures for Cash on Hand are starting to come in and the shape of the race is adjusting accordingly.
Giuliani today reported $15 million raised (as previously reported) and $12 million on hand. That’s a substantial figure that could actually put him in first place in the money game. Romney’s people have said they’ll report more than $11 million, but we won’t know how much more until we see the report. In addition to his high COH amount, Giuliani reported very little debt (about $90k).
If McCain, who raised only $12.5, has a burn rate closer to Romney’s (48%) than Giuliani’s (32%), he will come out of the first quarter with a COH in the mid-single digits. That’s a bad place to be.
On another piece of news, the number of contributors to Rudy’s campaign is around 28,000. That’s only about 5,000 fewer than Romney, but those 5,000 raised $6 million more (an average of $1,200 per person). That gives you a further indication that much of Romney’s donor stable is tapped out and unable to give more. He had better hope that the Pioneer/Ranger model finds a LOT of new blood or his second quarter numbers are going to look pretty lackluster compared to the first.
Both Romney (with maxed out donors and a need for new blood) and McCain (with little money to carry him) face a tough time going into the lean fundraising months of summer. Summer is a hard time to raise money as donors are generally consumed with other things and less likely to engage.
UPDATE: After Mitt released a breakdown of his numbers today, I felt compelled to call him out on his “pure and simple” website fundraising. The complete post is available over at TechPresident.com.