U.S. Rep. Ron Paul raised $13.3 million for his presidential bid in the fourth quarter of 2011, an amount larger than the previous three quarter's contributions combined, according to campaign finance reports filed with the Federal Election Commission on Tuesday night.
According to electronic filings posted just minutes before the filing deadline, Paul spent $15 million in the months leading up to the Iowa caucuses — where he placed a close third behind former Pennsylvania Sen. Rick Santorum and former Massachusetts Gov. Mitt Romney — and the New Hampshire primary, where he finished second behind Romney. Paul began 2012 with $1.9 million in the bank.
It's unclear how Paul's campaign balance has fared so far in 2012, considering former U.S. House Speaker Newt Gingrich's recent surge, and Paul's disappointing fourth place finish in South Carolina. The Paul campaign elected not to actively play in Florida, a "winner-take-all" state with an expensive media market that would have required millions of dollars to stay competitive.
Paul is famous for his grassroots fundraising efforts, and the fourth quarter was no different. Of the $13.3 million collected in the final months of the year, $7.3 million was reported as unitemized, meaning that more than half of the donations collected in the final quarter came from donors contributing less than $200. FEC law requires any donor giving more than $200 to be detailed in campaign finance filings; this means the majority of the money Paul raised cannot be traced back to specific individuals.
In total Paul has raised $25.3 million and spent $23.9 million on the 2012 election. The campaign again reported no debt, a feat it maintained throughout 2011.