Democratic candidate for governor Rob Sand raised nearly $9.4 million between May 27 and July 14, setting what his campaign says is an Iowa fundraising record for a single reporting period. Republican candidate Zach Lahn brought in about $6.4 million during the same stretch.
The new campaign finance reports show a sharp contrast in how each candidate is financing the race so far.
Sand's campaign reported more than 33,000 contributions, with most donations under $100. Nearly 80% of Lahn's fundraising — $5 million — came from a political action committee (PAC) affiliated with the Republican Governors Association. The Democratic Governors Association gave $2.5 million to Sand.
Lahn's latest report also marks a dramatic jump from his previous filing in late May, when his campaign raised about $60,000.
Drake University Professor Emeritus Dennis Goldford said campaign finance reports can reveal more than just who has the most money.
"Money is a sign that people who give believe they're not throwing their money away," Goldford said. "But the Sand campaign certainly wants the public to know that it's a broad-based campaign, at least as they see it, supported by people from all walks of life, not just a campaign that's simply supported by political action committees and interest groups."
Goldford said Sand's donor list reflects that strategy.
"Sand had a few contributions, in my quick scan, that might have been $1,000, $5,000 or $10,000. I don't think there was much more than that," Goldford said. "Some of his donors even gave $1, $2 or $3."
Sand reported nearly $18 million cash on hand at the close of the reporting period, compared to about $1 million for Lahn. Lahn's campaign also reported a $2.5 million outstanding loan.
Goldford said the financial gap could narrow before Election Day.
"If I were running for governor, I would sure rather financially be Rob Sand at this point than Zach Lahn," Goldford said. "But I think Lahn has contribution sources, starting with the Republican Governors Association and other PACs, that will enable him certainly to, if not even the playing field, certainly make it a lot less steep than it is at the moment."
Republicans have previously criticized Sand for receiving large contributions from family members, including his wife and father-in-law, Nixon Lauridsen. Those contributions did not appear in this latest reporting period.
Among Lahn's largest individual donors were Jana Scharnberg, general manager of Iowa United Basketball, who gave $300,000; Houston businessman James "Mattress Mack" McIngvale, who contributed $150,000; James Dean, CEO of Versova and Center Fresh Group in Sioux Center with $50,000; and former Hy-Vee CEO Randy Edeker, who made two contributions of $10,416.98 each.
Meanwhile, Rob Sand's campaign received large contributions from a few labor union organizations, led by a $300,000 donation from AFSCME PEOPLE.
Goldford said both campaigns are likely to continue aggressively raising money as television advertising ramps up.
"I think for both candidates at this point, money is extremely important because the television advertising has started already," Goldford said. "Interestingly, a lot of the negative ads — not just the positive ones — but the negative ads are funded by the campaigns themselves as well."
