9 Take away from the clearest glimpse of the 2020 currency race up to now

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Democratic candidates for President Trump raised tens of millions of dollars during the first months of the 2020 presidential campaign, with Senator Bernie Sanders setting the tone for the field, with $ 18.2 million raised.

As always, it is important to remember that winning the race for money is not a goal but a means to an end: building a sustainable and effective campaign for party nomination and eventually the White House.

But these revelations were the first glimpse of the types of campaigns that the major Democrats are creating, with new investments in digital advertising, large gatherings (Senator Kamala Harris's campaign has spent about $ 500,000 for his tremendous blow to Oakland) and national and state staff. Senator Elizabeth Warren has gathered more than 160 employees, which is a bigger part of what she has collected than any other campaign.

Anyone who comes out will face a much more professionalized and better funded effort than the one Mr. Trump led in 2016. In the first three months of the year, Mr. Trump has raised more than $ 30 million and had more than $ 40 million in the bank. He and the Republican Party added 100,000 other small donors.

Here are some takeaways:

Ads on sites like Facebook and Google were the biggest expense for multiple campaigns. Why? Partly because the nature of the presidential candidacy is changing. And partly because the Democratic Party has made the presence of 65,000 donors a gateway to the first primary debates, so the campaigns are looking for new donors online.

Mr. Sanders spent $ 1.5 million on digital advertising. Ms. Harris spent $ 1 million. And Jay Inslee, the governor of Washington, has dedicated more than half of all he's collected in online ads: $ 450,000.

Beto O'Rourke, who only took part in the race in mid-March, still managed to spend more than $ 1.25 million on digital ads. And the biggest expense of Senator Amy Klobuchar was to pay $ 625,000 to a digital product company for "list acquisition" as it continued to reach 65,000 donors.

Mr. Sanders virtually went out of nowhere to become a fundraising phenomenon in 2015. And in 2019, Pete Buttigieg, mayor of South Bend, in Indiana, became the dude's surprised duo, big and small .

He raised $ 7 million, while he was starting his campaign as an asterisk in a crowded contest. The pace of his larger donations reflects his momentum: he raised $ 100,000 from people who donated more than $ 200 in January, $ 312,000 in February and $ 2.125 million in March, mainly after his outstanding performance at the CNN channel.

Mr. Buttigieg seems to have got more for his money than anyone else. He spent less than $ 700,000, or 9.66% of what he collected, what the world calls "burn rate." This is a closely watched figure to determine who spends the most efficiently during the first vote in Iowa. the caucuses are still almost 300 days old.

So how much did Mr. Buttigieg spend? Well, his biggest expense – almost $ 275,000 – was just paying for the flood of online donations he had received. His level of spending was more common for a mundane congressional candidate than a rising presidential hopeful and a testimony of the power of deserved media coverage (see: Trump, Donald) at the present time. Mr. Buttigieg spent the evening of Monday on MSNBC in prime time, in conversation with the star host, Rachel Maddow.

Because Buttigieg spent less than one cent of every dollar collected, Warren spent nearly 87 cents on every dollar collected.

Mrs. Warren, who took part in the race on New Year's Eve, raised $ 6 million and spent the maximum of any Democratic candidate in the first quarter. Its $ 5.2 million represents a significant and risky bet that early investment and organization in the states that will start the nomination contest – Iowa, New Hampshire and South Carolina – will report dividends next year.

Warren's report indicated that over 160 people were on the payroll, almost double the number of Sanders, even though he was three times more than her. Ms. Harris, the second fundraiser, had 44 people. Warren spent nearly $ 1.9 million on salaries, benefits and insurance in the first quarter.

Warren also transferred $ 10.4 million from her account to the Senate, giving her a cushion. But such a transfer only happens once.

If there is continuing doubt that Mr. Sanders – who has raised $ 230 million in his lost bid for 2016 – is at the forefront of financial support for the 2020 primary program, the new report should put an end to his activities.

Mr. Sanders not only raised 50% more than any other candidate, but he also took part in the race with the most money from other federal accounts (about $ 14 million) that he could spend in 2020.

He had, by far, the largest number of donors at the beginning of the race and 525,000 people have already contributed. And he garnered the largest share (about 84%) of those who gave less than $ 200, and so can give again and again.

Ms. Harris raised the second highest amount, $ 12 million. And despite the benefits of Mr. Sanders, Mr. O'Rourke's campaign said loud and clear that he had outperformed Sanders in his first 24 hours of candidacy: $ 6.1 to $ 6 million. But the new federal information shows that Mr. O. Rourke is relying on a bit of financial acumen to mark this title: nearly $ 300,000 of his first-day earnings were actually funds intended for Election general raised beyond the limit that he could spend in the main race.

Many strategists believe that the prospective candidate will have to use both ends of the donor spectrum. Both Ms. Harris and Mr. O'Rourke talked about this capability.

Ms. Harris raised $ 4.2 million of her total donations of less than $ 200 after spending two years build a powerful e-mail fundraising list and $ 7.6 million from larger contributions, with a list of donors littered with famous names from Hollywood (JJ Abrams and Ben Affleck) and the business community (Eli Broad and Sam Altman)

Of the $ 9.4 million that Mr. O'Rourke collected in less than three weeks, $ 3.8 million came from larger donors and $ 5.5 million from those who donated less than $ 200.

The fundraising leaders' chart has mostly reflected those that have been most successful among small donors. The five candidates who raised the most money are the same five candidates who raised the most donations.

Many Democrats have positioned themselves in favor of a "movement" after Sanders' success in 2016. After 84%, these Andrew Yang (81% of his $ 1.7 million) and Mrs. Warren (70.5% of his $ 6 million), who have tied the most funds with small contributors in the first quarter a risky bet.

On the other hand, former Colorado governor John Hickenlooper had the lowest share (10%) of small donors, followed by Senators Kirsten Gillibrand (17%) and Cory Booker (18%).

Mrs. Harris was clearly the favorite of the biggest contributors: the $ 7.6 million she collected from those who donated at least $ 200 was a remarkable $ 3.4 million more than her nearest competitor. in this category, Mr. Booker. Mr. O'Rourke and Ms. Klobuchar were the only other candidates to exceed $ 3 million among these donors.

The largest contributor this quarter was John Delaney, a former Maryland congressman who invested $ 11.7 million of his own funds in his candidacy and has $ 10.5 million.

Joseph R. Biden Jr., a former vice-president, was late in arriving at most polling stations. But if he participates in the 2020 competition in the coming weeks, as planned, Mr Biden will start far off financially. No fewer than nine candidates finished the first quarter with at least $ 6 million.

Some quick and worrying calculations: if Mr. Biden were to participate in the race before May 1, he would have to raise about $ 100,000 a day until June 30, to match the ninth best-funded candidate at the end of March.

Rachel Shorey contributed to the reports.

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