Malcolm Rivera
The Harris Victory Fund is a joint fundraising committee authorized by Harris for President, the Democratic National Committee, and the State Democratic Parties. It is not a Political Action Committee (PAC) and does not accept contributions from corporations or their PACs, unions, federal contractors, national banks, or federal lobbyists. The Harris Victory Fund accepts contributions of up to $926,300 from individuals and $410,000 from multi-candidate committees (PACs). These contributions are used in federal elections and can be spent at the committee's discretion, without earmarking for specific candidates. The allocation of funds is based on a formula that includes donations from individuals and PACs, with the first $3,300/$5,000 going to Harris for President and the next $41,300/$15,000 allocated to the DNC.
| Characteristics | Values |
|---|---|
| Nature of Harris Victory Fund | A joint fundraising committee |
| Authorized by | Harris for President, the Democratic National Committee and the State Democratic Parties |
| States | AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, and WY |
| Allocation of funds from a person/multicandidate committee (PAC) | First $41,300/$15,000 to DNC; next $3,300/$5,000 to Harris for President's Recount Account; next $510,000/$255,000 to be split equally among the Democratic state parties |
| Maximum contribution accepted | $926,300 from a person and $410,000 from a multicandidate committee (PAC) |
| Use of contributions | In connection with federal elections; may be spent on any activity as each committee determines; will not be earmarked for any particular candidate |
| Sources of contributions | Does not accept contributions from corporations or their PACs, unions, federal contractors, national banks, those registered as federal lobbyists or under FARA, SEC-named executives of fossil fuel companies, or foreign nationals |
| Tax implications | Contributions or gifts are not tax-deductible |
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What You'll Learn
Harris Victory Fund is a joint fundraising committee
The Harris Victory Fund is a joint fundraising committee authorized by Harris for President, the Democratic National Committee (DNC), and the State Democratic Parties. It accepts contributions from individuals and multi-candidate committees (PACs), with the funds being used in connection with federal elections. The allocation of funds follows a specific formula, with the first $3,300/$5,000 from an individual/PAC going to Harris for President, the next $41,300/$15,000 to the DNC, and the subsequent $510,000/$255,000 split among the Democratic state parties in various states. Any additional funds are allocated to the DNC, and contributors can designate their contributions for a specific participant.
The Harris Victory Fund does not accept contributions from certain sources, including corporations, unions, federal contractors, national banks, and foreign nationals. It is important to note that contributions to the fund are not tax-deductible. Individuals donating over $200 per election cycle must provide their personal information, such as name, mailing address, occupation, and employer.
The fund's website provides detailed information on how to donate, as well as privacy policies and terms of service. It also offers the option to opt out of communications from the Harris for President Campaign. The Harris Victory Fund is committed to transparency and provides clear guidelines on how the donations will be allocated, ensuring compliance with federal regulations.
In summary, the Harris Victory Fund is a joint fundraising committee that raises money for specific allocations to Harris for President, the DNC, and various State Democratic Parties. It operates within the legal framework, maintains transparency, and provides donors with the necessary information and options to manage their contributions effectively.
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It accepts contributions of up to $926,300 from individuals
The Harris Victory Fund is a joint fundraising committee authorised by Harris for President, the Democratic National Committee, and the State Democratic Parties. It accepts contributions of up to $926,300 from individuals, and $410,000 from a multi-candidate committee (also known as a Political Action Committee or PAC).
The Harris Victory Fund does not accept contributions from corporations or their PACs, unions, federal contractors, national banks, those registered as federal lobbyists or under FARA, SEC-named executives of fossil fuel companies, or foreign nationals.
The first $3,300/$5,000 from an individual/PAC is allocated to Harris for President for the general election. The next $41,300/$15,000 goes to the DNC, and the following $510,000/$255,000 is split equally among the Democratic state parties of 40 states. Any additional funds are allocated to the DNC, unless a contributor designates their contribution for a particular participant by contacting the dedicated email address.
Contributions are not tax-deductible and can be made by providing a phone number, thereby consenting to receive recurring and/or automated text messages and calls from Harris for President and the DNC.
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Funds are allocated to the DNC and Harris for President
The Harris Victory Fund, also known as the Harris Fight Fund, is the joint fundraising operation of Harris' campaign, the DNC, and state Democratic parties. The fund accepts contributions of up to $926,300 from individuals and $410,000 from a multi-candidate committee (PAC). The allocation of funds is as follows: the first $3,300 from an individual or $5,000 from a PAC is allocated to Harris for President for the general election; the next $41,300 from an individual or $15,000 from a PAC goes to the DNC; the subsequent $510,000 from an individual or $255,000 from a PAC is divided equally among the Democratic state parties; any additional funds are allocated to the DNC.
The Harris Victory Fund does not accept contributions from corporations, unions, federal contractors, national banks, registered federal lobbyists, or foreign nationals, among others. Contributions are used in connection with federal elections and may be spent at the committee's discretion, without earmarking for specific candidates.
Kamala Harris, the Democratic Party's vice-presidential nominee, and her campaign have raised over $1 billion in their 2024 election bid, with funds coming from the Harris for President campaign, the Democratic National Committee (DNC), and joint fundraising committees. Harris' campaign chair, Jen O'Malley Dillon, noted that the campaign crossed the $500 million mark before her acceptance speech and saw their best fundraising hour immediately after. Despite this impressive fundraising effort, Harris' campaign spent more than it raised and is now seeking additional donations.
The allocation of funds to the DNC and Harris for President is a strategic decision by the campaign to ensure compliance with federal regulations and maximize the impact of donations. The DNC can utilize these funds for advertising and other permissible activities to promote Harris' candidacy, without directly contributing to her campaign. This indirect support is crucial, as direct transfers of funds from the DNC to Harris' campaign may face legal challenges if Harris is not the official nominee.
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Contributions are not tax-deductible
The Harris Victory Fund is a political action committee (PAC) that accepts contributions from individuals and multi-candidate committees. The fund is used in connection with federal elections and is not earmarked for any particular candidate. While the fund accepts large contributions, with limits of $926,300 from individuals and $410,000 from multi-candidate committees, these contributions are not tax-deductible.
When contributions are not tax-deductible, it means that donors cannot reduce their taxable income by the amount they have contributed. In other words, they cannot claim a tax deduction for their contribution. This is in contrast to tax-deductible contributions, where individuals or businesses can lower their taxable income by subtracting eligible expenses, such as charitable donations, from their total income.
There are several reasons why a contribution may not be tax-deductible. One reason could be that the contribution is made to an organization that does not qualify as a tax-exempt organization under IRS rules. Only contributions to certain types of organizations, such as charitable or nonprofit organizations, may be tax-deductible. Additionally, there may be limits on the amount that can be deducted, and contributions above these limits would not be tax-deductible. For example, charitable contributions are generally limited to 50% of the donor's adjusted gross income.
Furthermore, the type of contribution may also be a factor. For instance, contributions of non-cash property, such as donated goods or services, may not be tax-deductible or may have different rules for deductibility. In some cases, the donor's income level or other eligibility criteria may determine whether a contribution is tax-deductible. For example, contributions to certain retirement accounts, such as traditional IRAs, are only tax-deductible if the donor's income falls below a certain threshold.
It is important to note that the tax treatment of contributions can be complex and may depend on various factors, including the type of organization receiving the contribution, the amount contributed, and the donor's individual circumstances. Donors should consult with a tax professional or refer to IRS publications for specific guidance on the tax-deductibility of their contributions.
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Harris Victory Fund does not accept corporate donations
The Harris Victory Fund is a joint fundraising committee authorized by Harris for President, the Democratic National Committee, and the State Democratic Parties. It is not a PAC (political action committee), and it does not accept corporate donations. This means that contributions to the Harris Victory Fund are made by individuals using their own funds, and not from corporations or business entities. The Fund accepts contributions of up to $926,300 from an individual and $410,000 from a multicandidate committee (PAC).
The first $3,300/$5,000 from an individual/PAC is allocated to Harris for President for the general election. The next $41,300/$15,000 goes to the DNC, and the following $510,000/$255,000 is split equally among the Democratic state parties. Any additional funds are allocated to the DNC, and a contributor can designate their contribution for a particular participant by contacting the Fund.
The Harris Victory Fund does not accept contributions from corporations or their PACs, unions, federal contractors, national banks, those registered as federal lobbyists or under FARA, SEC-named executives of fossil fuel companies, or foreign nationals. This ensures that the Fund remains independent and focused on supporting the candidates and parties it has authorized, without the influence of corporate interests.
By not accepting corporate donations, the Harris Victory Fund can maintain a direct connection to its supporters and donors, who are individuals passionate about the committee's mission. This also ensures that the Fund's activities and decisions are driven by the interests of citizens and voters, rather than corporate entities. The Fund's transparency in disclosing its donors and their contributions further strengthens its commitment to individual donors and helps build trust with the public.
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Frequently asked questions
The Harris Victory Fund is a joint fundraising committee authorised by Harris for President, the Democratic National Committee, and the State Democratic Parties.
The Harris Victory Fund is not a PAC itself, but it does accept contributions from individuals and PACs.
The Harris Victory Fund accepts contributions of up to $926,300 from an individual and $410,000 from a multicandidate committee (PAC).
The first $3,300/$5,000 from an individual/PAC goes to Harris for President, the next $41,300/$15,000 to the DNC, and the next $510,000/$255,000 is split equally among the Democratic state parties.
