Republicans' luxe treatment of their ultra-rich major donors is causing the party to run up a deficit: For every dollar it earned from major dollars, the Republican National Committee spent $1.09 wooing them.
This damning information comes from a leaked internal investigation by RNC Treasurer Randy Pullen, and is being reported in conservative newspaper The Washington Times. RNC spokesman Doug Heye disputes the claim by the Times that the committee is losing money on large donors, saying the RNC this year "raised $2,649,586 from major donors, at a cost of $1,832,642, netting $816,943. That's a burn rate of 70%, which is in line with our total burn rate." The DNC's fundraising and administrative costs, by contrast, are around fifty-nine percent of fundraising revenue, and that includes small donor fundraising, which traditionally has higher relative overhead.
Pullen's report also revealed that Finance Director Rob Bickhart, who appears in the RNC offices about three times a week, has various contracts with the RNC that gave his consulting firm $390,000 this year on top of his six-figure committee salary.