Obama’s army of small donors?

A major theme of the presidential campaign was the stunning ability of Barack Obama to tap into an unprecedented universe of donors, many of them outside the realm of fat-cat contributors who typically fill campaign coffers on both sides of the aisle. But according to a new study by the Campaign Finance Institute, donors giving less than $200 accounted for just 26 percent of Obama’s total contributions — roughly the same level as George W. Bush in 2004. John McCain received just 21 percent of his contributions from such small donors, while 20 percent of John Kerry’s campaign was funded by donors giving less than $200 in the last presidential election.

“The myth is that money from small donors dominated Barack Obama’s finances,” said CFI’s executive director Michael Malbin, in a statement announcing the report’s findings. “The reality of Obama’s fundraising was impressive, but the reality does not match the myth.”

This altered perception is driven by a key attribute of the president-elect’s donor base: while an unprecedented number (49 percent) started giving at a level below $200, by the end of the campaign cycle they had often eclipsed that barrier with repeat contributions. Roughly 27 percent of Obama’s donors ultimately gave between $201 and $999, while the remainder (47 percent) contributed at least $1000.

This shouldn’t suggest, however, that the president-elect’s fundraising prowess was any less extraordinary than previously understood. By October 15, the latest reporting period available, roughly 580,000 donors had given at least $200 to the Obama campaign (the level at which a donor’s identity must be disclosed). During the 2004 campaign, by contrast, approximately 475,000 people gave at least $200 to all presidential candidates. In other words, the president-elect successfully tapped 100,000 more donors than Bush, Kerry, Al Sharpton and every single other also-ran four years ago.