Hillary Clinton’s campaign filed it’s first report with the Federal Election Commission on Wednesday, stating that they raised a substantial $47 million, but spent roughly 40% of that.
Clinton, whose campaign has been focused on raising money for the primary, brought in $46,725,329.13, according to the report. Some donors, however, sent the campaign money twice the $2,700 primary donation minimum, leading the campaign to raise $824,620.51 in general election contributions.
The campaign has spent heavily, though. While they have about $29 million in cash-on-hand, they spent about $19 million in their first quarter as a campaign, giving the campaign a burn rate of 40%.
Vermont Sen. Bernie Sanders, by comparison, spent 22% of the money his campaign raised.
Clinton’s 40% burn rate is far higher than her first quarter as a candidate in 2007. During that quarter — from January to March in 2007 — Clinton raised $36 million and only spent about $5 million, giving that campaign a 14% burn rate.
In the second quarter of 2007, Clinton’s campaign brought in $27 million and spent about $13 million, giving it a 47% burn rate.
Clinton campaign manager Robby Mook said thanks to their 250,000 donors, the campaign has “had the ability to make critical investments in our organization that will put us in position to win the primary and the White House.”
“With Republicans tapping their billionaire backers for unlimited sums of money, we are glad to be able to have such broad support to be able to show why Hillary Clinton is the only candidate who will fight for policies that allow everyday Americans to get ahead and stay ahead,” Mook said.
A release from Clinton’s campaign said 94% of their donations were $250 or less, with an average donation of $144.89. Sixty-one percent of the donors, the campaign said, came from women.
Clinton and her team have focused intently on raising money during their first quarter, criss-crossing the country at a frenetic pace. Clinton personally headlined 58 fundraisers in 18 states in the three-month quarter, a sizable number for a frontrunner. Her campaign aides headlined a number of other fundraisers.
Hillary for America’s high burn rate smacks against campaign aides’s claims of being thrifty. For much of the quarter, aides joked and bragged about spending little money, providing journalists with anecdotes about taking the bus, not the train, and not being given business cards.
“It is a big dollar number,” an aide said Wednesday as the FEC report was filed. “But we have more cash on hand than any other campaign by far. We feel good about where we are. Robby and the whole team made a plan and executed on that plan and it was about spending smartly and spending in ways that make sense. We are very comfortable with where things are and how we are moving.”
Despite the burn rate, Clinton still far outpaces her Democratic opponents.
Sanders raised about $14 million during the quarter, $1.5 million of which came from his Senate committee, according to his campaign’s FEC report. Former Maryland Gov. Martin O’Malley, who was a candidate for 30 days this quarter, raised $2 million, according to his campaign.