Sharpton Loans Raise New Questions
For months, the Rev. Al Sharpton’s presidential campaign has been supported indirectly by “love offerings” -- donations by churchgoers to minister Sharpton, who then lends money to candidate Sharpton.
The arrangement -- unusual among presidential candidates but legal within restrictions -- has helped keep his campaign going. Federal Election Commission documents show the campaign is at least $110,000 in debt to Sharpton, who also draws ministerial income from book sales and speeches.
As Sharpton seeks vital federal matching funds, the loans from minister to candidate may raise obstacles. FEC rules bar candidates who receive matching funds from lending their campaigns more than $50,000. An FEC spokesman said the commission, ultimately, would decide the matter.
Sharpton campaign manager Charles Halloran contended the limit applied only to debts incurred after receipt of matching funds, although one watchdog group disputed that.
The Sharpton campaign has a debt of about $500,000 and has scant thousands left in the bank.
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