Kerry Lags Edwards in Fund-Raising

In a surprise, Sen. John F. Kerry of Massachusetts reported Wednesday that his campaign for the Democratic presidential nomination raised slightly less money through the year’s first quarter than rival Sen. John Edwards of North Carolina.

Kerry announced that, as of Monday, he had collected an estimated $7 million. That put him slightly behind the $7.4 million Edwards announced Tuesday as his estimated first-quarter total.

The difference was small, but it could have an effect on the psychology of the Democratic race. In the last few months, much of the party and the media have viewed Kerry as the provisional front-runner. But as a tangible measure of the candidates’ strength, the fund-raising totals might slow that tendency.

Kerry emerged “if not head and shoulders above everybody else, at least a forehead above everyone else,” said Stuart Rothenberg, publisher of an independent political newsletter. “These numbers do raise some questions about whether Kerry was prematurely assigned the position of early front-runner.”

Two other Democratic presidential contenders reporting receipts on Wednesday lagged significantly behind Edwards and Kerry. Former Vermont Gov. Howard Dean said he had collected more than $2.6 million. Sen. Joseph I. Lieberman of Connecticut reported he had raised about $3 million.

In the political community, Dean’s figure was viewed as a promising sign because it easily exceeded the initial expectations for the little-known candidate. Dean’s strong criticism of President Bush’s policy toward Iraq has been gaining him support -- and money -- within liberal Democratic circles.

Lieberman’s total was generally considered a disappointment, in part because he enjoys high national name recognition after serving as Al Gore’s running mate in the 2000 presidential race. He also is popular in Jewish communities around the country, a reliable fund-raising source for Democrats.

Lieberman’s backers said his fund-raising during the first quarter was hampered because his candidacy was delayed last year by his pledge not to run for the 2004 nomination if Gore did. Gore removed himself from the race in mid-December.

Aides to Lieberman also noted that his fund-raising pace greatly accelerated in March, when he collected more than two-thirds of his total.

But some observers saw the modest overall numbers as a sign that Lieberman, who has provided unflinching support to Bush on the war with Iraq, has to broaden his appeal to Democrats. “He got off to a late start ... but I think he also has to really go out there and talk about the environment, education and go beyond foreign policy in terms of giving himself a niche, an identity with Democratic voters,” said Donna Brazille, Gore’s campaign manager in 2000.

Rep. Richard A. Gephardt of Missouri, another well-known Democrat seeking the presidency, said he won’t release his totals until later this month. None of the party’s other four presidential hopefuls -- Florida Sen. Bob Graham, Rep. Dennis J. Kucinich of Ohio, former Illinois Sen. Carol Moseley Braun and the Rev. Al Sharpton, released results.

The campaigns must file official reports with the Federal Election Commission by April 15.

The Kerry and Edwards figures were among the most ever raised during the first quarter of a presidential race -- exceeded only by Gore and George W. Bush in 1999 and former Sen. Phil Gramm (R-Texas) in 1995. But the comparison is a little like noting that “Spider-Man” tops “Gone With the Wind” in the all-time box-office rankings: Just as newer films benefit from higher ticket prices, Edwards and Kerry benefited because the maximum contribution from individuals was doubled this year, to $2,000.

Kerry’s campaign focused on other numbers. It noted his total receipts in the first quarter were $10 million, because he transferred slightly more than $3 million left from his 2002 Senate campaign. And Kerry reported $8 million in cash on hand -- the most ever for a Democrat at this stage of the race.

Edwards hasn’t released a cash-on-hand total; the data will be included in his FEC filing.

Even with Edwards’ unexpectedly strong financial showing, Kerry retains other formidable strengths in the race: an experienced staff and strong poll numbers in both Iowa and New Hampshire, the two critical early contests. And the Kerry camp, along with operatives for the other campaigns, question whether Edwards can maintain his fund-raising pace.

The widespread assumption in the Democratic field is that Edwards, a former trial lawyer, benefited from heavy contributions by other lawyers; his campaign didn’t release a breakdown. Yet wherever the money came from, the huge haul could provide Edwards with new momentum by showing a broader base of national support than most observers had anticipated.

“Folks believe Edwards stumbled out of the box [in 2002], with uneven appearances on ‘Meet The Press’ and some other lackluster campaigning around the country,” Brazille said. “This will help reposition him back in the top tier and give his campaign a tremendous boost.”

Still, the first quarter results have proved to be an imperfect predictor of a campaign’s ultimate financial strength, largely because not all the candidates rev up their financial engines for the entire period.

Sometimes the candidate who leads the pack in the first quarter maintains that advantage through the race, as Bush and Gore did in 2000.

But some who led at this early milestone -- like Rep. Phil Crane (R-Ill.) in 1979 and Sen. Joseph R. Biden (D-Del.) in 1987 -- faded quickly. In the 1996 Republican contest, former Sen. Bob Dole of Kansas, who ultimately led the GOP field in fund-raising and won the nomination, finished a distant third in the first quarter of 1995.