art of raising PAC funds, The

Northwestern Financial Review, Sep 15-Sep 30, 2004

Shortly after Don Forsberg, executive vice president of the Independent Community Banks of North Dakota, told his membership they'd set a record for PAC donations, he learned of a different kind of strategy that could bring greater results. The lesson came at the group's annual convention from presenter Jeff Rendel, who used Wal-Mart as a case study in how companies fund influence.

"In 1998, Wal-Mart had no presence in Washington B.C. Now, it has millions in its PAC to fund influence," Rendel reported. "Wal-Mart has 60,000 managers who give $8.60 a month to their PAC," The speaker compared the monthly contribution to the cost of two lunches at Taco Bell.

Turning to the leader of the 72bank association, Rendel then translated that equation for Forsberg. "If the top three guys at your member banks - the chairman, the president and the COO - each gave ICBND $8.60 a month ..."

The math is simple, Rendel added. Using Wal-Mart's strategy, ICBND could raise more than $22,000 in a year. During its recordbreaking fundraising year just completed, ICBND's PAC raised approximately $7,000. (See page 17 for ICBND convention coverage.)