NY Matching Funds Program Makes Everyone a Fat Cat Donor

New York’s matching funds program is the greatest thing to happen to grassroots campaigns since the invention of the spreadsheet. (Shutterstock photo from Iryna Kuznetsova)

New York’s matching funds program for state legislature candidates may be the best thing that’s happened to elections since the invention of the spreadsheet. It means that with matching funds for grassroots fundraising, even political newcomers can raise the money to compete competitively.

I want to give you a little idea of how New York’s matching fund program works by giving you a practical application of the system.

We’re running a fundraiser for a State Senator running for re-election. And in our little town, putting together two coins to run for office is difficult even on a good day. It’s even harder when we are literally in the farthest corner of the district as you can get. Fortunately, the Senator has spent a lot of time here, making it easier for people to donate to someone they actually have gotten to know.

So, we start with the list. And, we came up with 35 or 40 friends and family who we could count on.

Even so, if we wanted to raise $1,000 on $20 donations, we would need 50 people to open their wallets to fork over an Andrew Jackson. Not likely.

But, with new matching funds, here’s how the formula works out:

So in our case, we got a few people to put in $250 … the maximum but the rest were $20’s. Here’s where we stand with the event just a week away.

We’ve raised $1,190 in pledges which turns into $12,830 with matching funds.

That makes grassroots donors every bit as important as donations from the big guys. Remember, the limit for big donors is $5,000. And, a lot of political dinners run $2,500 (and more) for a table.

With New York’s matching funds program There’s a maximum of a $250 donation to qualify for matching funds which turns into $2,550, making all donors fat cats!

The $ 100-a-plate dinner just went from Steak to Hamburgers! And, It means that even YOU can run for office where even $5 bucks can make a difference!

You can check out the Public Financing Program by clicking here.