Once subsidized by taxpayers, major-party national conventions are now almost fully funded by uber-wealthy donors, massive corporations, labor unions and other influential big-money groups.
But exactly who is chipping in to cover the potentially record-breaking bill for Chicago’s Democratic National Convention next month?….
Leaders say they’re well on their way to raising up to $100 million for the DNC through that host committee, Development Now For Chicago, which, under federal law, isn’t constrained by donation limits or quarterly disclosure requirements that apply to typical political committees.
The non-profit is chaired by Michael Sacks, the CEO of financial services firm GCM Grosvenor, a close ally of former Mayor Rahm Emanuel and a prolific Democratic fundraiser.