Raises More Than $71 Million in Q3
Reports Historic $91 Million in Cash on Hand
Doubles Recurring Donors to Campaign to Record 112,000
Today, Team Biden-Harris announced that it raised more than $71 million in the third quarter of 2023 — on par with the Q2 haul — demonstrating continued strong support and enthusiasm for the President and Vice President’s reelection campaign. The team is also reporting today that it has a historic nearly $91 million in cash on hand, the highest total amassed by any Democratic candidate in history at this point in the cycle. Team Biden-Harris’ Q3 fundraising is significantly more than any of the GOP 2024 campaigns, and the team’s cash-on-hand is widely expected to be more than the entire GOP field combined.
This haul reflects Team Biden-Harris’ strategic approach to fundraising – using not just the campaign, but joint fundraising committees and the Democratic National Committee to maximize available resources for President Biden and Vice President Harris’ reelection, with an equally strategic approach to spending.
Let’s run the numbers:
Team Biden-Harris also reported strong grassroots enthusiasm, which grew in Q3 from the solid foundation built in Q2. Team Biden-Harris doubled its individual contributions since launch to a total of more than 1.4 million and has brought in over 240,000 new donors who did not contribute to the campaign in 2020. Additionally, Team Biden-Harris doubled the number of sustaining donors this quarter over last quarter, for a Democratic record total of over 112,000 people who have committed to donating every month. 34% percent of our donor universe are new donors since our 2020 campaign. In Q2, Team Biden-Harris’ grassroots fundraising program made up approximately ⅓ of the entire raise. In Q3, grassroots fundraising soared to 49% of overall revenue.
“This quarter’s fundraising haul and historic cash on hand speak to the very real enthusiasm and support President Biden and Vice President Harris continue to build for their reelection bid,” said Julie Chavez Rodriguez, Biden-Harris 2024 Campaign Manager. “We are especially proud of our efforts to exponentially grow our grassroots donor base, now having over a hundred thousand Americans signed up to donate on a recurring basis from now until Election Day. These numbers are a testament to one of our core objectives early in this campaign: raise the resources needed to run an aggressive campaign that will win in November 2024.”
“The numbers speak for themselves: Americans know the stakes of next year’s election and are supporting Team Biden-Harris with the urgency that this election warrants,” said DNC Chair Jaime Harrison. “While Republicans continue to raise less money and bleed costs in a divisive primary, we are building the infrastructure necessary to aggressively reach voters with our message and compete in the general election.”
Team Biden-Harris’ historic fundraising program is helping build an aggressive, winning operation for November 2024. Money raised so far is going toward investing in critical early staff hires, piloting innovative organizing programs in battleground states, and the largest, earliest paid media campaign for a reelection campaign targeting the diverse coalition of voters we know we need to win.
Today’s strong numbers from the campaign, DNC, and its joint fundraising committees complement additional metrics the campaign is looking at to measure its success. The campaign has been focused on early grassroots action, expanding its fundraising network, running an efficient campaign that minimizes hard costs, and taking advantage of the infrastructure that comes with the campaign’s historic partnership with the Democratic National Committee. By all metrics, Team Biden-Harris has marked significant success again this quarter:
- More than 493,000 donors made over 843,000 contributions across all entities.
- 97% of all donations were under $200 and the average grassroots contribution was $40.
- Donors hailed from all 50 states and all walks of life, with teachers and nurses as some of the most common occupations among donors.
The campaign also continues to seize on effective online fundraising tools and moments to drive grassroots action that were successful in Q2. For example:
- The “Meet the Presidents” fundraising contest was the most successful contest since 2020, raising nearly $2.5M.
- The “Dark Brandon” mugs and their accompanying direct-to-camera videos by President Biden drove close to $2M in revenue since August, and led to an 850% increase in sales month-over-month from July to August.
- Biden-Harris 2024’s email list is the largest ever for a Democratic presidential candidate.
- Team Biden-Harris held 75 fundraisers since launch, including 37 this quarter.
President Biden’s 2020 campaign raised over $1 billion, the most money of any presidential campaign in history, which included $700 million online driven by small dollar donations – also the most in history. With President Biden at the top of the ticket, ActBlue saw over 133 million separate donations in the 2020 cycle with 71% being first-time donors.