Mike McFadden raises $700,000 in first month of U.S. Senate campaign
Republican U.S. Senate candidate Mike McFadden announced today that he had raised more than $700,000 in June, the first month since he announced his intention to challenge DFL U.S. Sen. Al Franken. Details on the fundraising will become available when the campaign files its report with the Federal Elections Commission later this month, but McFadden opted to release his fundraising haul preemptively.
In a Youtube video posted this morning, McFadden thanked the donors who have backed his campaign since he registered as a candidate in late May.
“In one month, we’ve gained approximately 27,000 Facebook ‘Likes’, which my kids tell me is a good thing,” McFadden said. “I’ve also been humbled by the outpouring of financial support.”
McFadden is a CEO at Lazard Middle Market, a Minneapolis-based financial services firm that caters to mid-sized companies. The 48-year-old is a first time candidate, and was the first Republican out of the gate seeking the right to challenge Franken, who is up for reelection in 2014. At the time of his announcement, McFadden said he wanted to get into the race early in order to start raising money for the contest.
The campaign appealed to potential donors with a series of email messages last week, with McFadden explaining to supporters that the first quarter report of a candidate’s campaign is the most important. According to a fundraising appeal penned by finance director Anne Neu, the McFadden for Senate campaign had attracted 224 contributions as of Friday.
Despite the strong showing in his first month, McFadden will probably still be at a disadvantage when compared to Franken. As of the beginning of April, the date of Franken’s most recent financial disclosure, his campaign had more than $2 million cash on hand and had collected $1.98 million between January 1 and March 31. An additional $300,000 cash on hand is held by an associated political action committee called Franken MVPs.
Watch McFadden’s Youtube announcement below: