Late Entrant Into New York City Mayor’s Race Won’t Hit Fundraising Threshold

NEW YORK — New York City Council Speaker Adrienne Adams raised $128,000 in just five days for her mayoral bid — a fast start for her late entry into the race to replace Mayor Eric Adams, but not enough to qualify for matching funds.

Adrienne Adams’ campaign shared the numbers in a memo ahead of the Monday night deadline for all city candidates to report their fundraising and spending. And despite falling short of matching funds, her team argued the total illustrates her path to victory.

“Her late entry is a strength, not a weakness,” the memo reads. “It allows her to rise above tired, reactive politics and offer a fresh, forward-looking vision — one rooted in action, not opposition.”

Her campaign said 1,128 donors — 875 of whom live in New York City — made up the total. About $78,000 was eligible for the city’s 8-to-1 public matching funds program, meaning it could turn into a $624,000 payout in May. She also transferred in about $200,000 from a council campaign account.

Another late entry into the Democratic field — Andrew Cuomo — will also be reporting his first haul to the city’s Campaign Finance Board on Monday. The former governor is leading the polls and has a super PAC pulling in funds to support him, putting a target on his back as his rivals look to capitalize on his higher negatives that show up in public polls.

The PAC, which is not beholden to contribution limits, reported raising $285,000 from five donors last week — including Home Depot founder Ken Langone, a Republican who has donated to Cuomo in the past.

Candidates need to bring in at least $250,000 in qualifying donations from 1,000 contributors to be eligible for matching funds, per the city board. Four other contenders have already qualified: City Comptroller Brad Lander and his predecessor Scott Stringer, state Sen. Zellnor Myrie and Assemblymember Zohran Mamdani. The board denied Eric Adams matching funds due to his legal problems, but he has raised more than $4 million in donations alone.

Adrienne Adams’ impressive fundraising is not without precedent. Mamdani — a democratic socialist popular with an energized base — took in $139,000 in just one day when he launched his campaign in October, and the council speaker’s campaign memo credited him with having the most enthusiasm in the race.

Without public matching funds, any candidate who isn’t self-funded is at a major disadvantage in buying air time, particularly one with low name recognition like Adrienne Adams. She will need to rely on traditional news coverage, a strong canvassing operation and endorsements.

Adrienne Adams’ next opportunity to receive matching funds comes May 30, just weeks before the June 24 Democratic primary. Her campaign could take out a loan to enable the millions of dollars in spending typical of top-tier mayoral campaigns. But spokesperson Lupe Todd-Medina didn’t commit to any plans, saying Adrienne Adams can rely on so-called earned media until the final weeks of the race.

The council leader has “real, organic enthusiasm. … Her campaign doesn’t need to bus in union members who arrive unaware they’re at an endorsement rally,” the memo said, referring to POLITICO’s reporting on Cuomo’s launch rally earlier this month. “Her supporters show up on their own. We don’t pressure or strong-arm people into backing us — we invite them in.”

“By the end of the race we’ll have made matching funds,” Todd-Medina said. “And we’re confident we’re going to have the money we need to compete.”