RALEIGH, N.C. (AP) — The Democratic National Convention relied on at least $5 million in corporate donations, despite repeated pledges by top party officials only to use money raised from individuals.

Reports filed Wednesday with the Federal Election Commission show the convention's host committee, Charlotte in 2012, raised $24 million, well short of its $36.7 million fundraising goal.

To help make up for the shortfall, committee officials spent $5 million raised directly from corporations to rent the cavernous basketball arena used as the convention hall. They spent nearly $8 million more from a line of credit provided by Charlotte-based Duke Energy Corp., the nation's largest electricity provider.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.