RALEIGH, N.C. — Money, it has been said, is a lousy means of keeping score.
We do it anyway, and in politics, it signals viability.
So below, you’ll find candidate fundraising totals in North Carolina’s 2022 U.S. Senate race, for a seat opening up with the retirement of Republican Sen. Richard Burr. All candidates faced a Thursday night deadline to file reports, and their filings are
available online from the Federal Election Commission.
The FEC lists 13 candidates who’ve filed paperwork in the Senate race, but this analysis focuses only on the seven who’ve raised at least $100,000.
The figures are given for the most recent quarter that wrapped up June 30 and the entire election cycle to date.
Republicans
Ted Budd
Current North Carolina congressman, endorsed in this race by former President Donald Trump
Raised: $953,487 / $1.12 million
Spent: $331,356 / $545,658
Cash on Hand: $1.72 million
Notes and analysis: Budd benefits from a major transfer from his old congressional campaign committee, which gave him roughly $1 million in seed money for the U.S. Senate run. That’s why you can’t simply subtract money spent from money raised to get cash on hand.
Budd loaned his own campaign $250,000 – money he’s likely to pay himself back, but which is certainly available to spend. As might be expected for a current member of Congress, Budd has gotten about $65,250 so far not from individuals, but from political action committees and other political committees.
The campaign says: They have more cash on hand than any other Republican in the race, despite former Gov. Pat McCrory’s strong name ID after three statewide campaigns for governor.
“We fully anticipated, and planned that it would take us all of 2021 to close the finance gap with the McCrory campaign,” senior adviser Jonathan Felts said in a statement. “But we’ve eliminated the McCrory money advantage six months ahead of schedule, and that’s going to allow us to accelerate our campaign build out. Momentum matters in politics. Ted Budd has the big-mo, and it’s looking like Pat McCrory has no-mo.”
Pat McCrory
Former governor of North Carolina
Raised: $1.25 million / $1.25 million
Spent: $293,319 / $293,319
Cash on hand: $955,369
Notes and analysis: No loans here, and all but $500 of what McCrory raised came from individuals, as opposed to political committees.
The campaign says: Just as Budd attacked McCrory, McCrory attacked Budd, calling the congressman's fundraising "especially anemic given Budd’s previous support from Washington special interests who had long bankrolled his prior campaigns."
The campaign also said McCrory out-raised all his Republican opponents combined over the last quarter.
Mark Walker
Former North Carolina congressman from Greensboro
Raised: $203,270 / $1.3 million
Spent: $189,066 / $1.2 million
Cash on hand: $926,720
Notes and analysis: Walker’s been in this race longer than anyone else,
announcing in December. That gave him a head start on fundraising and, like Budd, Walker also benefited from money he transferred in from his old U.S. House campaign account. As for PAC contributions, they make up about $283,000 of Walker’s total fundraising.
The campaign says: 90 percent of his second quarter donations were for $200 or less, and 80 percent came from North Carolinians.
“From financial support from North Carolinians, to overwhelmingly winning the NCGOP grassroots straw poll and endorsements from numerous local officials and sheriffs from across North Carolina to Senator Tim Scott, Congressman Madison Cawthorn, Mike Huckabee, and former Trump White House Chief of Staff Mick Mulvaney, we are building the broad conservative coalition to win back the Senate from Senator Schumer and Vice President Harris,” Walker said in a release.
Democrats
Jeff Jackson
Current state senator from Mecklenburg County
Raised: $719,432 / $2 million
Spent: $692,750 / $1.15 million
Cash on Hand: $864,773
Notes and analysis: Jackson's donations are all from individuals, as opposed to PACs, and he doesn’t have any loans on the books. They’ve spent lots of money, a “burn rate” that tends to worry political consultants. But campaign spokesman Dylan Arant said the campaign is investing in its online fundraising operation, which it expects to pay off down the line.
The campaign says: Its median contribution is $15, and with 11,000 individual donors, it raised more money from small-dollar donors than any candidate in the field. They also noted that Jackson leads the Democratic field in total fundraising for the cycle and said 93 percent of donations this quarter came from North Carolinians.
Cheri Beasley
Former chief justice of the North Carolina Supreme Court
Raised: $1.27 million / $1.27 million
Spent: $441,752 / $441,752
Cash on hand: $833,233
Notes and analysis: Beasley got into the race later than Jackson, but many see her as the front-runner. She benefited from an early May endorsement from Emily’s List, which likely sent donors her way. All but $39,000 of her donations came from individuals, and the campaign doesn’t have any loans.
The campaign says: Her fundraising this quarter brought in more money than any other candidate in the race, regardless of party. The campaign also highlighted
a recent Washington Post story that quoted a Durham woman who called Beasley a potential “game changer for North Carolina.”
“Cheri has earned the endorsement of over 180 leaders,” the campaign said, “including over 100 faith leaders, as well as major organizations including Emily’s List, the Congressional Black Caucus PAC, Higher Heights for America PAC and The Collective PAC.
Erica Smith
Former state senator from northeast North Carolina
Raised: $112,955 / $309,635
Spent: $197,242 / $273,153
Cash on hand: $55,814
Notes and analysis: This is Smith’s second run for the U.S. Senate, having lost last year’s Democratic primary to Cal Cunningham, who then lost to Republican Sen. Thom Tillis. All of Smith’s donations this quarter came from individuals, but she previously loaned her campaign $35,000, and her twin sister loaned another $50,000.
The campaign says: "We never expected to match, dollar for dollar, establishment candidates who take money from PACs, corporate CEOs and the wealthy,” spokesman Morris Katz said in an email. “Our goal hasn't been to raise the most money; it was to raise enough, and we're on track to do that.”
Katz said that the campaign is looking for a moment to “catch fire,” generate attention and boost its numbers.
“We’re confident that we’ll have that moment,” he said.
Rett Newton
Mayor of Beaufort
Raised: $112,270 / $112,270
Spent: $67,767 / $67,767
Cash on hand: $44,503
Notes and analysis: No PAC donations here, but Newton loaned his campaign $17,000.
The campaign says: "Our campaign is fueled by people across the United States," Newton said. "While we don’t have D.C. insiders backing our campaign, I am proud of the movement we are building for N.C. that addresses real issues like protecting our democracy, climate change and health care for all."
