Mayor Eric Adams has been shut out of public matching funds in the city’s campaign finance system in his reelection bid so far. But his campaign is still making a go for what can be crucial public matching dollars. At the same time, a high ratio of the campaign’s latest claims for matching funds has been deemed invalid by the city’s Campaign Finance Board.
The Adams campaign has not only continued to submit matching claims after being dealt the denial blow by the Campaign Finance Board in December; it also appears to be going back to past filings to retract or amend matching claims previously deemed invalid. The board found in December that 50% of the matching claims the campaign submitted between July and October were invalid. But the board’s most recent review, obtained by City & State in a public records request, shows that the invalid ratio has been lowered to 48% for that filing period – an adjustment that may be the result of the campaign retracting some of its matching requests. The board also gives campaigns an opportunity to amend matching claims deemed invalid, by providing missing information, for example, but it’s unclear from the board’s review whether the campaign took advantage of that opportunity.
Adams’ campaign lawyer Vito Pitta did not respond to requests for comment.
As it stands now, the Adams campaign hasn’t been awarded any public matching funds for the $558,000 in donations it claims as matchable since 2022. That’s because of the Campaign Finance Board’s decision to deny awards based on its finding that the campaign has not been in compliance with board rules. Also contributing to that denial is a more recent finding of a massive discrepancy between what the campaign has in its coffers and what it has reported. Documented receipts show $3 million more than what the campaign has reported to the Campaign Finance Board. The board has renewed that decision in multiple meetings since December, but it’s possible it could be changed, which may be why the campaign continues to submit matching claims.
But according to a recent review by the Campaign Finance Board, a relatively high number of the Adams campaign’s matching fund requests are still being deemed invalid by the board. Reasons for that determination include, among other things, the contributions not being reported on time and being associated with a non-residential address, as well as the contributor having a non-New York City address.
After having roughly 50% of his matching claims deemed invalid in the fundraising period between July and October of last year, Adams’ campaign improved on its ratio in the most recent fundraising period, from October to January. But not by much. Of 101 claims for matching funds submitted, roughly 42% were deemed invalid. Those invalid claims equated to $8,500, or roughly 38% of the total dollar value that the campaign claimed in matching funds. With the city’s 8-to-1 match, that $8,500 could be worth as much as $68,000.
That ratio of invalid claims – both in the number of claims and their dollar value – is significantly higher than the ratios of invalid claims that most other leading campaigns saw in the most recent fundraising period. State Sen. Jessica Ramos had roughly 20% of her matching claims deemed invalid by the board. But former hedge fund manager Whitney Tilson saw the highest rejection rate in total in that time – 68% of his claims were deemed invalid. The Daily News first reported that finding, and reported that the campaign subsequently fired a firm it retained to handle its compliance work.
In total, 25% of the donations that the Adams campaign is claiming for matching funds since 2022 are currently deemed invalid by the Campaign Finance Board.
