Wealthy Out-of-Town Donors Foot the Inauguration Bill
As Washington, D.C., prepares itself for what will likely be one of the largest inauguration audiences in history, some of the country's wealthiest individuals in Hollywood and New York are financing the event as it grows into a major production. So far the presidential inaugural committee has collected at least $9.7 million from at least 239 contributors, according to CRP's analysis of the donors released Friday by the president-elect's transition team.
The average contribution to the presidential inaugural committee is $40,470.29, which is much higher than the average $659.31 donation to Obama's transition committee. The cap on contributions to the two committees varies greatly, however, with individuals permitted to give up to $50,000 to the inauguration efforts but only $5,000 to the overall transition efforts. And wealthy donors have certainly taken advantage of the opportunity to give more money to Obama via the inaugural committee--72 percent of the donors who have contributed to the inauguration have given the maximum $50,000 donation. Only 12 percent of the donors have given less than $25,000. Donors have to give at least $200 make the list, which the inaugural planning committee will update regularly, according to
Wealthy Out-of-Town Donors Foot the Inauguration Bill | Mint Dollar
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