National: Americans Elect Is Raising Money To Repay Its Millionaire Founders | Buzzfield
A deep-pocketed group hoping to field a third candidate in November has quietly shifted its fundraising focus earlier this month to serve a curious goal, a spokeswoman has acknowledged to BuzzFeed: All money raised by Americans Elect will, for the for-seeable future, be given to the millionaires who created it.
The group made the shift public in a cryptic statement on its website on March 2:
The Board of Directors voted unanimously on 20 February 2012 to ensure that no supporter would cover more than 20% of the Americans Elect budget. In the event that any one supporter exceeds that percentage, there are provisions created to expedite repayments to that supporter.
Americans Elect, whose leaders have said they expect to spend $40 million this year getting on the ballot in 50 states and building a sophisticated platform for a secure online primary, casts the move as one in service of its populist goal of having no donor give more than $10,000. But its immediate effect may make it extremely difficult for the group, which is heavily bankrolled by its chairman, financier and philanthropist Peter Ackerman, to raise any more money at all, and particularly the kind of small, grassroots donations it seeks on its website.