LNC Treasurer Bill Redpath has circulated the LNC financial results for December 2025.
December 2025’s revenue decreased to $57,068. December Expenses totaled $82,443. The LNC’s Net income in December was thus -$25,376. National Director Hannah Kennedy reportedly opined that the $57,068 corresponds to a ‘return to baseline’.
Total revenue for January through December 2025 was $908,865. YTD Expenses through December totaled $1,037,502. YTD through December Net Income was -$128,637, The loss due to operations came to $46,405. The remaining $82K loss corresponds to the nominal loss on the sale of the building.
Total Cash (net of any Joint Fundraising Committee liabilities) was $770,581, down from $786,166 at 11/30/2025. This number includes the money from the sale of the building.
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That “baseline” used to be JUST the monthly pledge club donations. You could automatically count on $55-60k in recurring revenue plus another $70K in new or renewals. So base line of $130K without doing any other fundraising. All that for a sunk cost of about $15K a month – mostly direct mail – 8.5 x ROI. Now they still do almost zero direct mail thus the results are not surprising. No pledge news, no renewal program, & a prospecting program based on a 27 year old model that bankrupted the party previously. That obviously is providing zero results.
People have asked “you’re always so critical – why don’t you offer solutions?” – well I did in my prior post about selling the building & the need to consult with the donors first. The building was the number one fundraiser in the history of the party. Many who donated did so with the promise that buying a building meant the LP was here to stay. Every major donor to the party supported the building fund. Many who had not donated in years supported the building fund. The process of selling the building without consulting these donors created a huge breach of trust.
I’ve made some suggestions many times that started with repairing this damage. Reaching out to these donors – via mail & phone calls from the Chair – to correct this breach of trust & offer them a chance to say how / where they want their money to be spent in the future. I mentioned when in 2012 the LNC voted not to go forward buying a building that 98% of the donors chose to let the LNC keep their money. Some supported a future purchase – others chose ballot access or different projects. A few wanted refunds.
I’ve suggested starting up LP News, Pledge News, Direct Mail Renewal Programs, etc. I know of people whose memberships expired three years ago & only have received ONE direct mail renewal request in that time. The pledge & renewal programs had a formula as mentioned about that provided an ave of 8.5 x ROI. Talk about money well spent.
I also want to know how their email list of 250K+ ended up now having only 50K valid emails? Where servers backlisted? At one time the LP had a service that monitored this & that service would fight to get any blacklisting removed so emails got thru. It’s very cheap to get email matches – a small investment will get those emails back up above 250K & perhaps even 500K. What good is relying on emails if nothing actually goes thru or gets read?
And I want to see the treasurer, exec director & chair stop talking like everything is roses because they have some money in the bank account – so who cares that they huge operational losses each money? The building money will not last forever at this rate. They should remain in crisis mode – knocking down fixed expenses even more. Negative cash-flow from operations is never a good sign. They need to still turn things around & create an operational “profit” to support all the other things they want to do without depleting their “savings.”
Finally – make sure the convention doesn’t lose money (it used to provide substantial revenue for ballot access & other needs). If that means cutting meals down to just the min guaranteed F&B then do that. Cut a/v down to just the min needed to carry on the convention. Don’t just go with the catering menus the venue provides – set a budget – talk to the venue about what they can do within that budget. Speaking of which the budget should never have been based on the last convention! See 2010 St. Louis as to how little you really need to spend to put on a national convention. The LP was in crisis mode then & could not spare any funds.