The finance reports are in for the final six months of 2024 for Virginia candidates. Gubernatorial candidates Lt. Gov. Winsome Sears (R) and former Rep. Abigail Spanberger (D) raised millions from donors across the country.
Sears’ top donors include a health care capital investor, an oil and gas CEO and a political strategy firm. Spanberger’s top donors include a financial executive, a railroad executive and a health care CEO.
In total, Sears reported raising $2,563,086 between Sept. 4 and Dec. 31. Spanberger reported raising $2,501,153 between July 1 and Dec. 31, according to VPAP.
Sears reported raising $424,432 in cash contributions of less than $100, and Spanberger reported raising $429,647.
Sears reported $18,055 of in-kind donations, while Spanberger reported $54,583.
Sears reported $2,120,530 in cash contributions of more than $100, and Spanberger reported $1,886,034.
Sears’ largest donations were transfers from her PAC to her campaign account, totaling $900,000,
Besides her transfer, Paul Manning was Sears’ largest reported contributor during the reporting period, giving her campaign $50,000 on Dec. 30.
Manning founded PBM Capital in 2010 and has served on the Board of Directors for many of PBM Capital’s investments, according to their website, including AveXis and currently on that of Dova Pharmaceuticals, Verrica Pharmaceuticals, and PBM Pharmaceuticals.
Sears’ second largest contributor during the reporting period was Adam Beren, giving her campaign $35,000.
Beren is the chairman and president of Berexco LLC, a family-owned oil and gas energy company headquartered in Wichita, Kansas. He invests in many passive and direct investments across a wide spectrum of industries and countries, according to his company’s website.
Sears’ third largest donor during the reporting period was Alpha Strategies, giving her campaign $26,200.
They are a bipartisan firm that focuses on achieving policy successes with proven legislative strategies, according to their website.
Spanberger’s largest contribution was a transfer from her congressional account of $90,000.
Besides her transfer, Thomas McInerney was Spanberger’s largest donor during the reporting period, giving her campaign $30,000.
McInerney is the president and chief executive officer of Genworth Financial. He has worked in various senior executive roles with ING Groep NV and Aetna Inc, according to the Genworth website.
Spanberger’s second largest contribution during the reporting period was from John Rathbone, giving her campaign $25,000.
Rathbone was named vice president and controller of Norfolk Souther in 1992. He became senior vice president in 2003 and executive vice president of administration in 2004.
In 2012, the company named Rathbone as its executive vice president of finance and chief financial officer. He retired in 2013 after 32 years with Norfolk Southern and continued as an independent consultant for the company until 2015, according to the William and Mary College website, where he is on the Board of Visitors.
Spanberger’s third largest donor during the reporting period was Todd Stottlemyer, giving her campaign $25,000.
He currently serves as CEO of Acentra Health, a private equity-backed healthcare software products and solutions company.
He has served on or serves on the boards of 12 technology companies and two publicly traded commercial banks and he is a Venture Partner for the Blue Delta Capital Partners, according to the UVA Sorenson Advisory Board’s website, of which he is a member.
In total, Spanberger reported having $6,551,836 cash on hand on December 31, compared to Sears’ $2,111,516.
There is still time left to file, but currently, Sears and Spanberger are the only candidates for governor.
You can view all of the donors to both campaigns on VPAP.