Based on the FEC report that was filed yesterday, on time.
The filing was preceded by the filing revealing that Bill Redpath is now the LNC Treasurer. The June 6 Request for Additional Information from the FEC to the LNC was addressed to Mr. Hagopian, who was no longer Treasurer.
At the start of the month the LNC had $238,000 on hand. It had $455,000 in receipts. It ended the month, net of declared convention debts, to $207,000.
Of particular interest were $21,000 to one accounting firm, $7387 to the bookkeeping firm that was onboarded some time back, $1523 to handle paychecks and filings for five employees and various contractors, $7200 for website support, $4848 for the convention parliamentarian, $4500 for the legal retainer, and over $3000 in CRM support. Readers may find other numbers that are more interesting.
Cash on hand, 1/1/24 $270,463.64
Cash on Hand Start of month $238,396
Total Receipts in May $455,009.75
Income for the year $948,253.76
Spent in May $195,331.34
Cash on Hand May 31 $498,074.96
Debts and Obligations $291,022.50 ($290,000 to the Hilton Hotel)
Cash Free and Clear $207,052 <– less than at the start of the month
Expenses
Staff Payments
Net Pay (5 employees) $16,519
Withholding, Insurance, Retirement
Insurance – $8467
Social Security $2545
Payroll Fee PayChex $1523
Federal – $1463
401K – $772
Medicare – $595
Pennsylvania $291
Colorado – $128
Texas – $ 56
Political Support
Voter Gravity $3000
Affiliate Contribution (Alaska, California) $262
Twitter – $8
Outside contractors
Lehman – Accounting – $21,000
All in One $7387
Website – $7200
Parliamentarian $4848
Oliver Hall-Legal $4500
Software, Hardware,telephone,Data $3911
CRM Consulting $3165
FEC Consulting $2000
Headquarters
HQ – Property Tax – $4726
HQ – Utilities – $347
HQ – Cleaning – $210
HQ Termite&Pest – $ 85
HQ – ADT – $17
Convention
Audio/Visual $37,138
Advertising $9146
Speaker Fees (Proud Libertarian,Spike Cohen) $6858
Office Supplies, Printing, Promotional Gifts $4516
Food and Lodging $3453
Entertainment $1472
Notary $1355
Media $1000
Licenses $600
Staff travel – $328
Handling Money
Printing, Postage, and Shipping $11,566
Fundraising – American Liberty $10,678
Fundraising – Freedom Calls $8200
Fundraising – texting – 5108
Fundraising – Lori Stacey – $4392
Fundraising – Merchandise $2256
Fundraising – Brian McWilllian $1900
Fundraising – Software – $1165
Fundraising Merchant Fees $324
Fundraising – Videos – $150
CreditCard fees – $14,930
Corporate Account Analysis $279
Debts and Obligations $291,022.50 ($290,000 to the Hilton Hotel): Obviously this includes very little of what they’re looking at in terms of convention expenses. I would expect about $100K more….. which means
Cash Free and Clear $207,052 <– less than at the start of the month – That this number is very concerning – to end the convention with less cash than to begin with is embarrassing – but knowing that there is likely $100KJ more in expenses out there means they really only have perhaps $107K avail for ballot access. This can be the real reason why the EC has not moved on much of the B/A request.
I know they will sugar coat all of this – but they would be so much better to be honest. I hope the Chase Campaign has managed to raise serious $$$ because the bulk of ballot access will fall on them.
That would be the case regardless of the foregoing, would it not? Is anyone here seriously thinking they would be eager to fund his ballot access if they were in a better financial position?