Clinton rakes in early money

Setting a high bar for other presidential candidates, Sen. Hillary Rodham Clinton raised $26 million in the year’s first quarter, nearly matching the combined sum collected by all Democratic hopefuls in the same period four years ago, her campaign announced Sunday.

Former Sen. John Edwards, among Clinton’s rivals for the Democratic nomination, raised $14 million in the first three months of 2007, almost double what he raised in the equivalent period in his first presidential run four years ago, his aides said.

Sen. Barack Obama of Illinois, the Democratic candidate who has been running second to Clinton in opinion polls, did not disclose his preliminary take. Nor did the Republican hopefuls.

The first-quarter numbers took on greater importance than in past campaigns, as candidates face the prospect of having to compete in more than two dozen states by early February 2008. The ante to compete next year is generally thought to be $30 million to $40 million.

Even so-called second-tier Democratic candidates are raising hefty sums. New Mexico Gov. Bill Richardson, for one, raised $6 million in the first quarter, said Pahl Shipley, Richardson’s communications director.

Other Democrats include Sen. Christopher J. Dodd of Connecticut, who raised $4 million in the first quarter, and Sen. Joseph R. Biden Jr. of Delaware, who raised $3 million, their campaigns said.

As Clinton capped a dash for money that began in January, she displayed confidence by announcing her haul first.

She raised the $26 million in the 10 weeks after she officially launched her campaign, and transferred $10 million left over from her 2006 Senate reelection campaign, pushing her total receipts to $36 million.

“We’ve shattered all records,” said Terry McAuliffe, Clinton’s campaign chairman, adding that the campaign’s early total “shows tremendous momentum.”

Clinton’s campaign publicly had set a goal of raising $15 million for the first quarter and $75 million for the year -- although Clinton backers privately have said they hope to raise $100 million in 2007. The so-called money primary will fuel the actual primaries when people vote, starting in January.

“I’m impressed,” said Anthony Corrado, a presidential campaign finance expert and political scientist at Colby College in Maine. “Bringing in $26 million in the course of 12 weeks is clearly an indication that Sen. Clinton is showing the fundraising strength most observers expected she would have.”

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Intense campaign

The Democrats’ combined numbers -- exceeding $50 million, with Obama not yet reporting -- show the intensity of the 2008 campaign and speak to the party’s hunger to reclaim the White House. That intensity also is reflected by large crowds that candidates have drawn in Iowa, New Hampshire, Nevada, California and other early-voting states.

“Part of it is people hate Bush so much, they just want to come out and hear people bash him,” said Gordon Fischer, a former Iowa Democratic Party chairman.

The numbers also underscore the rising cost of campaigns. Candidates are raising money not just for the January caucuses and primaries in Iowa, New Hampshire and elsewhere, but for primary fights in California and as many as 23 other states that could hold primaries Feb. 5.

In another cost-driver, Clinton, Edwards and other top-tier candidates are raising money simultaneously for the primary and general elections -- an important distinction. Federal law bars candidates from using money raised for the general election to pay costs associated with the primaries.

Clinton’s aides said they were still tabulating the fundraising haul and could not specify the amounts she had raised for the primary and for the general. Edwards’ deputy campaign manager, Jonathan Prince, said all but about $1 million of Edwards’ $14 million was earmarked for the primary.

“It will be very important to analyze the distribution between primary and general election money,” said Michael Toner, a Washington attorney and former chairman of the Federal Election Commission. “General election money is not nearly as valuable as primary money at this stage.”

The 2008 battle is the first in which most candidates are actively seeking money for the primary and general elections. No top-tier candidate is expected to use federal funds that would be available; Uncle Sam’s offer of $83 million for the general election simply would not be enough. By law, candidates must abide by spending caps to qualify for the federal money. Top candidates assume they will be able to raise much more.

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Dwarfing old numbers

Toner was among the outside experts who predicted Clinton could reach $30 million in the first quarter. He was nonetheless impressed at the $26 million. Toner said Clinton “has set the pace” for other candidates, adding: “Hillary Rodham Clinton’s performance is extraordinary by any measure.”

Clinton’s $26 million and Edwards’ $14 million dwarf the $7.4 million raised by Edwards in the equivalent quarter in 2003, when he led the field.

Vice President Al Gore raised $8.9 million and then-Texas Gov. George W. Bush raised $7.5 million in the first quarter of 1999.

Clinton came close to matching the $29.5 million that all candidates combined raised in the first quarter four years ago.

“The 2008 candidates will be making mincemeat of all previous fundraising records,” said political analyst Charles E. Cook Jr., publisher of the Cook Political Report.

Citing the $6 million raised by Richardson, Cook added: “When the dark horses in one cycle are almost matching the fundraising leader from the previous cycle, you know it’s a whole new world.”

Clinton’s $26 million amounts to the fifth-largest amount raised by any candidate in any quarter in preelection years. President Bush holds the four top positions for preelection years: $28.7 million in the second quarter of 1999; $33.6 million in the second quarter of 2003; $46.6 million in the fourth quarter of 2003; and $49.2 million in the third quarter of 2003.

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Internet money

In addition to traversing the country prospecting for campaign money, major candidates have been sending out e-mail fundraising appeals, with an eye toward the first-quarter numbers.

“At midnight tonight,” the Clinton campaign said in an e-mail early Saturday, “we have to close the books on the first quarter. When all the campaigns’ fundraising reports come out, they will set the tone of the race for months to come.”

An Edwards campaign e-mail, one of several sent in the final days of March, took the same urgent tone: “Tonight sets the course for the rest of the campaign, and this moment won’t come again. Will you be the one who gets us across the finish line?”

Clinton’s aides said she had raised $4.2 million via the Internet. Edwards said he had raised $3.3 million in Internet money.

Candidates are not required to issue their full first-quarter campaign finance reports until April 15. Those reports will identify donors who have given $200 or more, the amounts candidates have in their campaign bank accounts, and the sums they spent in the beginning months of the campaign.

During her Senate reelection campaign in 2006, Clinton’s operation spent more than $30 million -- a “burn rate” that outstripped that of any other senatorial candidate.

Her spending included $13,000 for flowers and $27,000 for valet parking, and left her with a $10-million cache, far less than the $30 million that aides had once predicted she would have stashed away at the end of her reelection run.

Though the campaign did not disclose how much money it had on hand, there have been indications that the Clinton campaign has been trying to tamp down spending.

Belt-tightening efforts were visible at a recent hotel fundraiser in Washington, D.C., where 1,000 guests paying as much as $2,300 apiece applauded speeches by the candidate; her husband, former President Bill Clinton; and “first friend” McAuliffe. There were no chairs or tables: Instead of a lavish multicourse dinner, guests nibbled hors d’oeuvres and petits fours; a reduced staff of servers supplied trays of drinks and food.

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Separate donors

Clinton’s campaign aides said she raised the money from 50,000 separate donors. Edwards had more than 37,000 donors. Obama, who like Edwards has aggressively used the Internet to tap smaller donors, lays claim to 83,500 contributors.

“I would expect Sen. Obama is going to have a comparable amount of money,” McAuliffe said.

“He is out there; he is exciting people.... I would assume he and a couple others will have a comparable amount.”

Biden, appearing on “Fox News Sunday,” dismissed the notion that the candidate with the most money would win.

“If people think we’re going to pick a nominee based on how much money they have rather than based on their ideas, I think they vastly underestimate the Democratic electorate,” Biden said.

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dan.morain@latimes.com

steve.braun@latimes.com

Times staff writer Mark Z. Barabak contributed to this report.

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Key numbers

In the money primary, the first-quarter numbers in preelection years often provide insight into who could win the presidential nominations in the following years. Here’s a look at the party nominees from the last two presidential elections.

Al Gore $8.9 million, 1999

George W. Bush $7.58 million, 1999

John Edwards $7.4 million, 2003

John F. Kerry $6.9 million, 2003

Note: Bush did not raise significant sums in the first quarter of 2003.

Source: Federal Election Commission