Matching Funds Update And Correction

Matching Funds Update And Correction By Walter Moore, Candidate for Mayor of Los Angeles, WalterMooreForMayor.com September 29, 2008 Let's start with the good news: as of this moment, we have now raised $155,426. Now the bad news: it turns out that, contrary to my earlier announcement, we have not yet qualified for matching funds, because the rules do not treat all contributors and contributions alike. It does indeed take $150,000 in contributions to qualify for matching funds, and we have raised more than that amount. Also, individuals and companies alike can contribute a maxium of $1,000. However, it turns out that, for purposes of calculating matching funds, contributions from companies don't count at all. Also, for purposes of calculating matching funds, if a person contributes more than $500, only the first $500 counts; the amount above $500 does not count towards the $150,000 total. Unfortunately, of the $155,426 we've raised so far, $2,755 came from people's companies, and therefore does not count towards the $150,000 minimum. Also, for the people who contributed over $500 each, the "extra" amount they contributed totaled $13,792.52. Hence, even though we've raised $155,426 in actual money, only $138,878.48 of it counts for purposes of qualifying for matching funds. So we still need to raise another $11,121.52 to qualify. I apologize and hope you'll forgive me for "jumping the gun." This was not my first mistake in life, and won't be my last. But when I find I've made a mistake, I try to correct it ASAP. And this need not delay our actually receiving matching funds: the City does not let candidates apply for funds until November in any event. Bottom line: let's raise that remaining $11,121.52 as soon as possible, and keep raising money after that. We need to get the word out to our fellow voters, so they know they have a pretty good alternative to Villaraigosa. Okay, one more "bottom line:" please remember to come to the rally at the Woodland Hills Marriott on October 14, 2008, starting at 7:00 p.m. sharp, to hear Doug McIntyre, Kevin James and me. You'll be able to pick up yard signs and bumper stickers. You can contribute then, but why wait? Click here to contribute.