How Mike Rounds says he’ll raise $9 million

Mike Rounds raised eyebrows with his claim, in my story this morning, that he plans to raise $9 million for his campaign.

Here’s the details on where he plans on getting that money:

  • $1.5 million from South Dakota — about as much as he used to raise in his gubernatorial campaigns
  • $3 million from sources in Washington, D.C.
  • $3 million from donors around the country
  • $1.5 million in an “other” category, which Rounds aide Jason Glodt says includes things like direct mail, internet fundraising, and transfers from political parties. The presumption from that is Rounds isn’t including those things in the above categories, which would make them all more difficult to reach.

Can he do it? He’s demonstrated he can raise the South Dakota money, so the first category seems achievable. The others are iffy — and not reaching his goal could be a consequence of success as well as failure. (If he looks like he’s got the race in hand, the money will go elsewhere.) Rounds said he hopes to raise $500,000 this quarter, a time when he spent 80 percent of his time raising money. If he raised $500,000 every quarter, that would give him around $4 million for the race. But it’s early yet and fundraising often picks up as the election gets closer, especially after the primary is over and the general election begins. (Rounds may also have low-balled his $500,000 second-quarter estimate to me so that if/when he beats it, he has beat expectations.)

If the race stays reasonably close, do you think Rounds can raise $9 million.