Competitors close in on Adams’ fundraising, but the indicted mayor remains in the lead

An advancing field of primary challengers in New York City's mayoral race received or appeared to have qualified for public matching funds on Wednesday, narrowing Mayor Eric Adams' fundraising lead, though the indicted incumbent remains ahead.

The city’s Campaign Finance Board is still withholding public matching funds from Adams, citing his federal indictment. The board has said those charges, which accuse Adams of accepting illegal foreign and straw donations, also violate the rules governing the city’s matching funds program. Adams has pleaded not guilty, and his trial is scheduled for April.

But that did not stop Adams from pulling in $270,291 in donations in the latest fundraising period, with $22,650 in possible matching claims, should he eventually qualify. And the mayor’s campaign filing shows $113,249 in payments to his chief fundraiser Brianna Suggs, whose home was searched by the FBI more than a year ago.

Despite Adams' fundraising haul, one of his top primary challengers projected he would soon eclipse the incumbent in campaign cash. New York City Comptroller Brad Lander received $2.9 million in public matching funds on Wednesday after correcting a paperwork error in a previous filing.

This marks Lander’s first payment and the single largest payment to any candidate this election cycle, and solidifies Lander's campaign as a leading contender in the mayoral money race. Lander's campaign said he is already ahead of Adams, but that claim relies on counting matching funds payments that the comptroller has yet to receive.

The growing fundraising strength of competitors like Lander is another worrying sign for Adams’ re-election prospects. The mayor’s early fundraising edge was one of his few bright spots as he heads into an election year partly defined by his record-low approval numbers and an ongoing criminal case against him.

The public finance program provides a generous $8-to-$1 match for qualifying small donations.

Lander’s latest filing showed he raised an additional $221,599 during the fundraising period from Oct. 8, 2024 to Jan. 11, 2025, with more than $103,000 in matching claims. So far he has raised a total of $1.1 million from 4,927 donors. His campaign said this could amount to more than $5.4 million after next month’s public funds payment. Adams is currently just shy of $4.4 million from 4,453 donors without matching funds.

The only other mayoral candidate to receive public funds on Wednesday was former City Comptroller Scott Stringer, who received an additional $68,552, bringing his total public funds payment to nearly $2.2 million. In his latest filing, Stringer raised $197,428 since October, with nearly $102,000 in matching claims in this period.

If all those claims are valid, Stringer could be nearing $4 million in total campaign cash next month. The payments that went out on Wednesday were based on filings submitted in October and any corrections submitted after the first payment in December. Valid filings submitted on Wednesday will yield payments on Feb. 18.

State Assemblymember Zohran Mamdani and state Sen. Zellnor Myrie both appear to have met the thresholds to qualify for matching funds next month. Mayoral candidates must raise at least $250,000 from more than 1,000 city residents to qualify.

After just over two months in the race, Mamdani raised $641,816 from 6,518 donors, with $408,374 in matching claims. Myrie, who entered the race last May, raised more than $183,000 in the latest disclosure period, bringing his current total before matching funds to $647,998 from 3,363 donors, with $306,541 in matching claims.

Before any candidates receive public funds, the Campaign Finance Board will have to review their filings to ensure all donations are accompanied by the required documentation. If the agency has questions about a matching claim, the candidate may not receive some or all of their public funding until those issues are resolved, as recently happened to the Lander campaign.

Vito Pitta, Adams’ campaign compliance attorney, said he expected the mayor’s fundraising haul “to grow significantly in the near future." But it is unclear if the Campaign Finance Board will award any public funds to Adams while he awaits trial.

Unless he receives public funds, Adams is poised to lose his fundraising lead. Even though he has raised four times as much as Lander, his closest fundraising competitor, that advantage could be wiped out with the next matching funds payment on Feb. 18. That is also when Mamdani and Myrie could receive their first public funds payments.

One of the newest candidates in the race, financial analyst Whitney Tilson, raised $424,968 from 1,416 donors, with $140,909 in matching claims. His filing shows that just over $214,000 of his donations came from New York City residents, just below the threshold required by the program. Tilson, a newcomer to electoral politics, was one of the founding investors in the nonprofit Teach for America and has been a robust fundraiser for other campaigns.

State Sen. Jessica Ramos, former state Assemblymember Michael Blake and attorney Jim Walden have yet to qualify for matching funds, according to their latest filings.

Ramos raised more than $160,000 from 1,275 contributors, and filed $86,702 in matching claims. Blake raised $146,084 from 599 donors, submitting $26,690 in matching claims. Walden raised $630,214 from 830 contributors, loaned his campaign $500,000 and submitted $76,513 in matching claims.

For candidates who do not qualify for a matching funds payment on Feb. 18, the next filing deadline is March 17, which will cover the fundraising period from Jan. 12 to March 13. The subsequent payment date is April 15.