American Crossroads and its grassroots sibling, Crossroads GPS, will follow its dynamic debut on the political playing field with a huge encore, the groups will announce today.
All told, the two organizations aim to raise and spend $120 million on a campaign to defeat President Obama, spokesman Jonathan Collegio confirmed to The Hotline. The Wall Street Journal first reported the fundraising goal.
The two groups, founded and run by Republican strategists Karl Rove, Ed Gillespie and Mike Duncan, were among the most successful outside organizations in the 2010 midterms. Together, they blazed a trail for outside organizations suddenly able to raise and spend corporate money and unlimited individual donations, in some cases without being required to disclose the source of their funding.
As a 501(c)4 organization, Crossroads GPS did not have to publicly disclose its donor rolls, while American Crossroads, a 527 organization, did not have to limit contributions from individuals.
The $120 million figure dwarfs the $71 million raised and spent in 2010. What's more, the groups said they raise and spend that money in a more efficient manner than the vast majority of other outside groups. Collegio said the two organizations spend a total of 4 percent of their resources on fundraising and overhead, meaning 96 percent of their money goes straight to advertisements and other advocacy efforts.
Crossroads will also launch the Presidential Action Fund, a project that will conduct in-depth polling, micro-targeting and turnout operations that will benefit the Republican presidential nominee.
Democrats have singled out Crossroads among the field of so-called Super PACs in an effort to paint Republicans as the party of corporate special interests. Still, that line of attack had a limited impact in the 2010 contest. And despite hammering away at spending by outside groups, Democrats have moved in recent months to develop their own network of independent organizations to compete with Crossroads, the American Action Network and other Republican-leaning groups.