You are a seasoned, Democratic political operative, with extensive experience managing state and local campaigns in Rhode Island. You are approached by wealthy, female entrepreneur with no political e
CAMPAIGN FINANCE WELCOME NEW CANDIDATES! CF - 1 NOTICE OF ORGANIZATION • Registers campaign with the BOE (must be done prior to raising or spending funds) • Provide current and reliable contact info • Designate a treasurer (a separate treasurer is required if raising/spending over $10k) • Disclose bank information (NOT BANK ACCOUNT NUMBER!) • Sign affidavit on back of form • All original signatures must be notarized! BANK REQUIREMENTS Open a segregated bank account at a financial institution with a physical branch in the state of RI. No comingling of personal and campaign funds. Submit a copy of your December bank statement annually (or a close -out statement if you dissolve your campaign prior to the end of the year). All campaign activity should flow through your campaign account. REPORTING SCHEDULE Due dates differ depending on primary candidates or general election only candidates A report filed on paper consists of three forms: CF -2, CF -3, and CF -4 Reporting must be done online if raise/spend over $10k, or have $25k or more, and may be done by any other campaign. Call to set up a training session. Late reports will be assessed a $25 fine (increases $2/day after certified letters sent) Reporting schedule is quarterly in a non - election year CONTENTS OF REPORTS Campaign Finance reports (periodic and quarterly) shall consist of:“Summary of Campaign Activity” (Form CF -2), “Schedule of Contributions Received” (Form CF -3), and “Schedule of Expenditures” (Form CF -4) Contributions Each schedule must include: • The amount contributed by each individual, PAC, or committee with: • Name, address, place of employment, and receipt date of all contributions exceeding $100 in the aggregate in a calendar year Expenditures Each schedule must include: • The amount of all expenditures with: • Name, address, date, and purpose of all expenditures that exceed $100 in the aggregate in a calendar year • Credit card expenses must be recorded in detail and list all vendors AGGREGATE CONTRIBUTIONS/EXPENDITURES Contributions/Expenditures may be reported as an aggregate if a donor/vendor does NOT exceed $100 in a calendar year (records of donor information and vendor receipts/invoices must be maintained for a period of four years. Any contribution/expenditure exceeding $100 MUST be itemized. If previously reported as an aggregate, prior report must be amended and transaction itemized. CONTRIBUTION LIMITS, SOURCES, & CASH ALLOWABLE Can receive up to $1,000 in a calendar year from individual/candidate or Political Action Committee (PAC) Can receive up to $25,000 and unlimited in -kind from state political parties PROHIBITED Direct contributions from corporations, unions, non -profit organizations, or any business entity The personal use of campaign funds Contributions over $25 in cash from a single source in the aggregate in a calendar year Contributions from other than an individual, PAC, or a political party Anonymous Contributions IN - KIND CONTRIBUTIONS Non -monetary contribution received from a donor Examples: Food at a fundraiser or ad in the newspaper Contribution must have a fair market value (receipt/invoice provided by donor) and cannot be a special deal/discount (price available to general public). Amount of in -kind contribution is inclusive of $1,000 individual maximum in a calendar year. CF - 5 AFFIDAVIT FOR ANNUAL FILING EXEMPTION For smaller campaigns Exempts candidate from all reports except annual summary due January 31 Parameters: Cannot spend more than $1,000 in a calendar year Cannot accept more than $100 per source (including loans and in -kind) in a calendar year Must be filed annually CF - 7 AFFIDAVIT DISSOLVING CAMPAIGN ACCOUNT Campaign account is still active until CF -7 is completed.
Must have cash balance of zero to close out Remaining funds can be dispersed in the following ways: o Repayment of Loan (if any exist) o Donate to candidate/PAC/party committee (subject to limitations) o Donate to a non -profit (candidate cannot receive any benefit) o Return contributions to donors o Forfeit to State of RI CF - 9 ACCOUNT CERTIFICATION Required only if candidate exceeds $10,000 raised or $10,000 spent in a calendar year If $10,000 threshold met, candidate must designate a separate treasurer Treasurer completes CF -9 and submits with each report (certifying the accuracy of its contents) $10,000 threshold resets as of January 1 Closing Remarks Please do not rely on information you have heard from others. Go straight to the source! Call, email us, or visit our website! • 401 -222 -2345 • [email protected] • www.elections.ri.gov We send out letters and emails periodically. Please be certain to keep updated contact information. Submit a new CF -1 for any changes. THANK YOU & GOOD LUCK!
