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Obama Transition Raised $3.8 Million After Election

By Philip Rucker
President-elect Barack Obama raised more than $3.8 million from private donors in the six weeks following the November election to help pay for his transition activities, according to figures released today.

As of Dec. 15, about 53,853 donors have contributed to the Obama-Biden Transition Project, which is well on its way to meeting its fundraising goal by the Jan. 20 inauguration. The transition team set a budget of $12 million to cover salaries, office rent and other expenses until Obama moves to the White House. Nearly half of that budget, $5.2 million, is covered by the government, while the remainder must be covered by private donors, who can contribute up to $5,000.

About 219 people donated the maximum amount, many of them leading business executives, including Google chief executive Eric Schmidt and Warner Music Group chief executive Edgar Bronfman.

But the average donation was $70.62, according to the transition team, and several thousand people gave just $10 each.

The transition team is refusing contributions from registered lobbyists, corporations, labor unions and other interest groups, and has been releasing the names of donors on a monthly basis. Contributions to the transition team are separate from donations to pay for inauguration festivities.

Posted at 2:57 PM ET on Jan 5, 2009  | Category:  The Green Zone
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