Political conventions raked in cash

WASHINGTON — Organizers of the Democratic National Convention raised nearly $85.5 million for the Philadelphia gathering, exceeding their fundraising goals and ending up with a pot of leftover cash, the event’s host committee announced Tuesday.

“This was an enormously successful convention from many perspectives,” former Pennsylvania governor Ed Rendell said during a conference call with reporters. Rendell served as chairman of the Philadelphia 2016 Host Committee.

The group had aimed to raise about $60 million for the July gathering, where delegate nominated Hillary Clinton as the party’s presidential nominee.

Big donors included Pennsylvania taxpayers — the state threw in $10 million — along with a slew of labor unions and corporations, such as AT&T and American Airlines. Other contributors included stalwart Democratic donors, such as Chicago venture capitalist J.B. Pritzker, who gave $1.25 million.

The Philadelphia host committee still has a little more than $10 million in available cash and about $6.3 million in unpaid bills, including $2.4 million in payments to a Maryland construction firm and about $3 million in outstanding loan and interest payments to the city’s private-public development corporation.

Rendell said the committee has the money to pay off all its remaining obligations and other expenses that crop up.

The host committee for the Republican National Convention recently reported it exceeded its fundraising goals, despite a last-minute scramble for cash.  The Cleveland 2016 Host Committee said it eventually collected more than $65 million in cash and in-kind services, surpassing its $64 million goal.

Among those donating to the Cleveland event: Las Vegas casino mogul Sheldon Adelson, who donated $1.5 million in August, more than a month after the convention ended. Other big donors included AT&T and Microsoft.