By Robert Lettieri
As a career financial executive and CFO for the last 23 years I have been responsible for providing shareholders, investors and regulatory agencies with information that demonstrated accountability at the highest level. “Hypothetically,” if you were a shareholder in a company that in six years lost 61% of its customer base I think you would be concerned.
In addition, if the same company six years ago generated 14.7% of its revenue from major customers and this fiscal cycle generated 76.4% of its revenue from major customers that should be cause for concern. Your concern would be that a loss of any one major customer could lead to financial instability of the company. Additionally over the most current reporting cycle the total receipts of this company were 30% less than its closest competitor.
Fellow Republicans, what I have described in the paragraph above is exactly what’s happening to the AZGOP.
In the election cycle of 2012 the AZGOP received 1,539 Itemized Individual contributions from 1,055 contributors.
In the election cycle of 2016 the AZGOP received 597 itemized individual contributions from 378 contributors. A decrease of 64% in contributors.
In the election cycle of 2012 the AZGOP received 14.8% of Itemized Individual contributions from major contributors.
In the election cycle of 2016 the AZGOP received 76.4% of Itemized Individual contributions from major contributors. This represents an increase of 62% in Itemized Individual contributions from major contributors. Are we becoming the party of the chosen few? Having taken a company public, I know from experience that the SEC considers revenue concentration a red flag and so should we fellow Republicans.
In the election cycle of 2016, the AZGOP received $1,133,729 of itemized individual contributions from 378 contributors with the Republicans representing 34.6% of registered voters. By contrast in the election cycle of 2016 the AZ Democratic Party received $1,233,239 of Itemized Individual contributions from 1,830 contributors with 30.4% of registered voters being Democrats. Doesn’t this mean that the Democrats are getting more participation and broadening their base of active supporters while our AZGOP are content to rely on fewer and fewer while allowing the AZGOP to rely on larger but fewer Republicans that are contributing there financial resources?
In the election cycle of 2016 the AZ Democratic Party received 30% or $2,265,751 more in Total receipts (from all sources which includes Itemized Individual contributions) than the AZGOP. I have a plan to reverse these negative trends.
The information I am presenting is available to anyone by going to the FEC.gov website and selecting Details for Committees. If you chose to visit the FEC.gov website and review Arizona Republican Party 2016 Election Cycle reporting, please note that the Treasurer reporting the information is Jonathan Lines who is currently a candidate for AZGOP Chairman.
Robert (Bob) Lettieri is a candidate for AZGOP Treasurer.