The Capital Journal reports that Mike Rounds raised around $516,000 in the fourth quarter of the year.
That’s a slight decrease from the $607,000 Rounds raised in the third quarter, and gives him a total amount raised of about $2.1 million for his entire campaign.
None of the other campaigns have released fundraising totals yet for the fourth quarter. In the third quarter, none of Rounds’ Republican rivals raised more than $65,000.
Rounds’ campaign also tells me they’ll have about $1.15 million in the bank at the end of the year. That’s $136,000 more than the $1.014 million Rounds had at the end of the third quarter. So Rounds drastically increased his campaign spending in the fourth quarter, spending much of what he took in, for a “burn rate” around 75 percent.
(High “burn rates” are sometimes problematic for campaigns, but not always. It depends on what value the candidate is getting for money spent now compared to what value they’d get spending that money later. Given Rounds’ big financial advantages, he might feel he doesn’t need to be stockpiling cash.
More specifically, it is frequently a warning sign when a campaign’s high burn rate is largely due to spending money on fundraising. If a candidate raises $100,000 but spends $95,000 sending out direct mail solicitations, that suggests the $100,000 figure is largely illusory. If most of that $95,000 had been spent on TV ads instead, the fundraising figures would be much more impressive.)
We won’t know until Rounds’ full report comes out next week exactly what he’s spending money on.
I’ll post updates as I get fundraising numbers from the other campaigns. You can also monitor my spreadsheet of campaign fundraising.