The top line number for Ron DeSantis’ fundraising haul during the second quarter of this year showed some political force.
But beneath that $20 million figure were warning signs for the Florida governor’s campaign, buried in the details of the data.
More than $3 million of what DeSantis raised was funds earmarked for the general election — meaning donors gave more than the $3,300 limit for the primary and those funds will not be available to the candidate until after the primary is over.
DeSantis also raised $2.8 million from small donors giving less than $200, a number that most candidates in the race would envy but is likely to significantly trail Donald Trump, who had yet to formally file his report Saturday afternoon. A greater share of donations from small-dollar donors is a better sign for future fundraising, since small donors can be repeat givers.
But perhaps the most consequential data point was the pace of the donations. More than one-third of DeSantis’ itemized donations ($5.8 million of the $16.8 million of donations that came from those who gave above $200) came within the first 10 days of his campaign. A good chunk of his donations — $351,000 — came through a transfer from the Draft DeSantis 2024 Fund.
Taken as a whole, the report DeSantis filed with the Federal Election Commission on Saturday is a microcosm of his campaign to date. The Florida governor remains positioned to be a major player in the race — even one who could wrestle the nomination from Trump — with more than $12 million cash on hand at the end of the quarter. But he appears reliant on major donors. And the early allure of his candidacy seems to have worn off a touch.
DeSantis still has plenty of resources at his disposal. A super PAC backing him has attracted more than $100 million, though much of that was transferred from his state-level committee. (The group, Never Back Down, does not have to file its own reports with the FEC until later this month.)
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