President Barak Obama will come home for Oct. 27 political fundraiser dinner. Beneficiaries will be the Democratic National Committee and the campaign fund that bankrolled his 2008 and 2012 White House campaigns, says Chicago Sun-Times.
That’s one expensive entry, if you ask us
According to the same source, hosts will be D’Rita and Robbie Robinson, who is an executive at BDT Capital Partners. Guests are being asked to kick in $10,000, while the tab to co-host
is $33,400 per person. From the political fundraiser benefits the newly created committee, Democratic Hope Fund.
The Democratic Hope fund is a joint fundraising committee that “swallows” the donations to the Democratic National Committee and Obama for America. The first $2,500 of each contribution will go to Obama for America, while any contributions above $2,500 go to the Democratic National Committee.
Obama’s campaign fund is in debt and still paying for polling and other research and other items, according to the latest Federal Election Commission records, shows Chicago Sun-Times. $2,443,426 is the sum owed by the fund.
Main purpose: paying debts
So, this political fundraiser organized by Robbie Robinson, managing director of BDT & Co., and his wife, D’Rita, founder and CEO of Chatty Guest, has one purpose: raising money to pay off some of the debt.
The Obama for America fund can produce some money by renting its lists to the Chicago based Organizing for Action for $250,000, $100,000 in April and $150,000 in June.
According to above mentioned source, after this political fundraiser which bring Obama back home to Chicago, the President is also likely to do an event to benefit the Democratic Senatorial Campaign Committee, the Senate political operation backing the 2016 Illinois Senate bid of Representative Tammy Duckworth.