Obama inaugural committee reaches money goal
| President-elect Barack Obama's inaugural committee has reached its goal of collecting at least $40 million for next week's festivities fes·tiv·i·ty n. pl. fes·tiv·i·ties 1. A joyous feast, holiday, or celebration; a festival. 2. The pleasure, joy, and gaiety of a festival or celebration. 3. . Figures provided by the committee Wednesday show it has raised at least $41 million. The money will help fund a national community service day, thousands of portable toilets A portable toilet is a modern, portable, self-contained outhouse manufactured of molded plastic in a variety of colors and are often used as a temporary toilet for construction sites and large social gatherings. , the installation of 10 giant screens on the national mall National Mall: see National Parks and Monuments (table). for the swearing-in ceremony, and 10 official inaugural balls, among other costs. Roughly 200,000 people donated less than $200, spokesman Brent Colburn said. Their average donation was $34, he said. |
He declined to give a total, but doing the math, that works out to at least $6 million from those donors.
At least $35 million has been raised from contributors who gave $200 or more, a list of those givers on the committee's Web site shows. The committee accepts donations of up to $50,000 from individuals.
More than a third of the money was collected by just 56 people, the committee's bundler list shows. Each gathered at least $200,000 from donors.
Many of the fundraisers are well-known moneymen and women in Democratic circles. Those leading the list raised at least $300,000. They include two of Obama's top campaign fundraisers: Louis Susman, who retired this month as vice chairman of banking giant and government bailout bailout
The financial rescue of a faltering business or other organization. Government guarantees for loans made to Chrysler Corporation constituted a bailout. recipient Citigroup; and billionaire Hyatt hotel heiress heiress n. feminine heir, often used to denote a woman who has received a large amount upon the death of a rich relative, as in the "department store heiress."
HEIRESS. A female heir to a person having an estate of inheritance. Penny Pritzker Penny Pritzker (1959) is an American billionaire (net worth $2.8 billion USD), the granddaughter of Abram Nicholas Pritzker and the niece of Jay Pritzker.
In 1981 she received a BA in Economics from Harvard University later earning a JD and MBA from Stanford University. .
The inaugural committee has also raised money through sales of merchandise, but has not yet said how much.
It has said that it hoped to raise about as much as President George W. Bush raised for each of his two inaugurations.
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On the Net:
Presidential Inaugural Committee: http://www.pic2009.org/
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