Snyder and Youngkin put millions into their campaigns but McAuliffe still maintains fundraising lead in Virginia governor’s race

RICHMOND, Va. (WRIC) — Two Republicans running to be Virginia’s next governor loaned their own campaigns over $5 million within the first three months of this year, allowing them to spend more on advertisements than what most other candidates have been able to raise.

Pete Snyder and Glenn Youngkin, two GOP candidates who entered the governor’s race in January, were expected to use their personal wealth to help fund their campaigns.

Snyder, the CEO of the angel capital investment firm Disruptor Capital, took in $6.8 million from Jan. 1 to March 31, with $5,175,000 coming from Snyder and his wife, Burson, according to campaign finance reports.

Youngkin, a former executive at the private equity firm Carlyle Group, raised more than $7.6 million in that same span. Youngkin, who has a reported net worth of over $300 million, gave $5.5 million to his campaign, an analysis of campaign finance disclosures from the nonpartisan Virginia Public Access Project found.

Despite their hauls, Snyder and Youngkin still trail former Virginia Gov. Terry McAuliffe (D) in fundraising. McAuliffe, who is seeking a second term, raised more than the other four Democrats running for governor combined for the second straight reporting period.

McAuliffe’s campaign raised $5.7 million from Aug. 12 until Dec. 31, 2020, even though he joined the race on Dec. 8, 2020. With $5.5 million already on hand, McAuliffe was able to bring in nearly $4.2 million in the first three months. of 2021 and his campaign had $8.5 million in total on March 31, according to VPAP and state records.

Democrat Jennifer Carroll Foy, a former state delegate, was the only other candidate besides McAuliffe, Snyder and Youngkin to raise over $1 million this year. In December, Carroll Foy stepped down from her House seat to focus on her campaign, allowing her to raise money while state law barred other candidates in the legislature from fundraising during the regular 2021 General Assembly session.

Candidates running for governor, lieutenant governor and attorney general were required to submit campaign finance reports from the first quarter of this year by Friday. The disclosures show how much each candidate has raised in 2021, where the money came from and the cash campaigns have on hand for expenses.

Democrats

Despite not being allowed to raise any money for her campaign during this year’s regular legislative session, Sen. Jennifer McClellan (D-Richmond) was able to bring in over $635,000 from Jan 1 to March 31, finance reports show. McClellan’s campaign spent $809,498 in that time and had $442,042 on hand as of March 31.

Del. Lee Carter (D-Manassas), another candidate prevented from raising money during the session, raised over $138,000 in the first quarter of this year. Carter, a self-described socialist who won a seat in the Virginia House in 2017, used nearly $50,000 on campaign expenses and had almost $89,000 in the bank as of March 31.

Starting out this year with only $225 on hand, the fundraising struggles for Virginia Lt. Gov. Justin Fairfax’s campaign continued in the first three months of 2021. According to VPAP, Fairfax raised nearly $100,000 but $75,000 came from in-kind contributions — goods or services given to the campaign. Fairfax’s campaign had only $20,689 on hand on March 31.

You can find how much each candidate raised and spent during the first quarter of 2021, including how much the campaigns had left over on March 31, below. The data was provided by VPAP and state records:

Jennifer Carroll Foy

Cash from contributions more than $100 – $1,705,659
Cash from contributions $100 or less – $111,857
In-kind contributions – $6,407
Fundraising total –$1,825,734
Expenses – $759,811
Ending balance on March 31 – $2,329,330

Del. Lee Carter

Cash from contributions more than $100 – $44,817
Cash from contributions $100 or less – $93,885
In-kind contributions – $0
Fundraising total – $138,702
Expenses – $49,805
Ending balance on March 31 – $88,896

Lt. Gov. Justin Fairfax

Cash from contributions more than $100 – $23,500
Cash from contributions $100 or less – $1,322
In-kind contributions – $75,000
Fundraising total – $99,832
Expenses – $79,367
Ending balance on March 31 – $20,689

Terry McAuliffe

Cash from contributions more than $100 – $3,939,991
Cash from contributions $100 or less – $209,646
In-kind contributions – $6,250
Fundraising total – $4,185,188
Expenses – $1,213,565
Ending balance on March 31 – $8,512,035

Sen. Jennifer McClellan

Cash from contributions more than $100 – $423,150
Cash from contributions $100 or less – $75,034
In-kind contributions – $137,194
Fundraising total – $635,428
Expenses – $809,498
Ending balance on March 31 – $442,042

Independents

Princess Blanding, an educator and community activist, is running under the newly-formed Liberation Party as an independent in this year’s race. Blanding founded Justice and Reformation after her brother, Marcus-David Peters, was fatally shot by a Richmond police officer in 2018, and has publicly called for more police oversight in the wake of his death.

During this latest reporting deadline, Blanding’s campaign disclosed that she raised over $12,000 and had more than $10,000 as of March 31.

Princess Blanding

Cash from contributions more than $100 – $9,207
Cash from contributions $100 or less – $2,634
In-kind contributions – $310
Fundraising total – $12,152
Expenses – $2,144
Ending balance on March 31 – $10,124

Republicans

While their campaigns spent more than $4 million in three months, most of it going to consulting and advertising firms, the cash advantage for Snyder and Youngkin may not help them secure the GOP nomination for governor.

The Virginia GOP opted for a convention on May 8, where loyal party delegates will choose their nominee under a ranked-choice format. As a result, the value of using advertisements to hook voters could be diminished.

Sen. Amanda Chase (R-Chesterfield) and Del. Kirk Cox (R-Colonial Heights), two state lawmakers with name recognition within the party, fell well short of the fundraising totals of Snyder and Youngkin. Chase, an outspoken Trump supporter, raised nearly $114,000 in the first quarter of 2021 but her campaign spent $147,297 and had less than $200,000 on hand by the end of March, campaign finance reports show.

Del. Cox, the former GOP Speaker, outpaced Chase with a haul of almost $700,000 from Jan. 1 to March 31. According to VPAP, Cox’s campaign had to spend $725,750 in that span and had a little more than $310,000 left over.

Sen. Amanda Chase