Campaign Reports and Cash On Hand
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.