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Despite recession, Obama inaugural raises $27 million from 2,000 donors; 378 gave $50,000
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WASHINGTON - Despite the economic hard times, money keeps pouring in for President-elect Barack Obama's inaugural festivities.
The inaugural committee has raised at least $27 million, donor information on its Web site Tuesday showed. Most of that has come in over the past three weeks.
If fundraising continues at that pace, Obama's committee will have no problem reaching or exceeding the roughly $40 million raised for each of President George W. Bush's two inaugural celebrations.
More than 2,000 donors are helping to finance Obama's Jan. 20 swearing-in festivities. At least 378 gave the maximum $50,000.
Top donors include financier and major Democratic donor George Soros, actors Halle Berry, Jamie Foxx, Sharon Stone and Samuel L. Jackson, producer Jeffrey Katzenberg and directors Ron Howard, George Lucas, Steven Spielberg and Robert Zemeckis. Lisa Henson, daughter of "Muppets" creator Jim Henson and the co-CEO of The Jim Henson Co., also gave the maximum.
Math teacher Jon Mormino of Washington's Sidwell Friends School, where Obama's daughters Malia and Sasha started classes this week, gave $250.
The $50,000 donors get access to inaugural events including candlelight dinners with appearances by members of Congress and the Obamas and tickets to an official ball, the swearing-in ceremony and parade seating.
The committee expects to raise about the same amount as Bush did for his last inauguration. Americans shouldn't get the impression that the money will be spent on caviar and champagne, inaugural committee spokeswoman Linda Douglass said. Light fare and snacks will be served at the official balls; there will be no caviar, and people will have to pay for their drinks, she said.
"One of the reasons that we have to raise all of this money is that we're trying to make this the most open and accessible and inclusive inauguration in history," Douglass said. Among other things, the fundraising will cover the installation of 10 giant screens on the national mall so people can witness Obama's swearing-in within sight of the Capitol, she said. Other expenses include 5,000 portable toilets, free or low-cost youth and neighborhood balls and organizing a community service day, she said.
The inaugural committee is releasing the names of those who give $200 or more. It is refusing money from labor unions, corporations, political action committees, foreigners and Washington lobbyists.
The committee isn't turning away contributions from those whose enterprises lobby in Washington, however.
Google chief executive Eric Schmidt and five others at the Internet company gave $25,000 each. The inaugural committee received a total of $150,500 from six Microsoft employees, including the maximum $50,000 from Microsoft CEO Steve Ballmer.
Also giving the limit were Thomas Strickland, UnitedHealth Group executive vice president and chief legal officer, and two Indian tribes with casinos, the Cherokee Nation in Oklahoma and the Agua Caliente Band of Cahuilla Indians in California.
Microsoft, Google, UnitedHealth and the two Indian tribes have all lobbied in Washington over the past year.
Other maximum donors include Louis Susman, who retired this month as vice chairman of Citigroup, a banking giant that has received a multibillion-dollar bailout from the U.S. government.
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On the Net:
Inaugural donors: http://www.pic2009.org/page/content/donors/
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