Small Campaign Donors

Abstract

We build a new dataset of all 340 million individual contributions reported to the U.S. Federal Election Commission 2005-2020 to study the characteristics and behavior of small campaign donors. The reporting requirements of fundraising platforms such as ActBlue enable us to observe contribution-level information on the vast majority of small donations, which have grown rapidly since 2005. Small donors differ from large donors in gender, ethnicity, and income, and they are more representative of the U.S. population. They act less strategically than large donors, respond more to candidates’ public prominence, and are more susceptible to TV and social media ads.