Services

Political Action Committee

For organizations that choose to actively participate in the political process through candidate support, Cornerstone offers a suite of services in compliance with federal election laws. Cornerstone provides strategic advice, long-range planning, and in-depth budgeting assistance for numerous clients engaged in political giving. Our team also actively manages the Federal Election Commission filing requirements for Political Action Committees, provides guidance to and support for the establishment phase, and continually consults with clients on PAC activities including allowable fundraising and solicitation methods. In addition, Cornerstone assists PACs with:

· Recruitment of PAC supporters
· Setting a PAC budget
· Targeted campaign contributions
· Creation of PAC Board
· Registration with Federal Election Commission
· Appointment of PAC Treasurer
· Filing of Federal Election Commission Reports
· Advising PACs on compliance with federal election law
· Attaining Multicandidate Status
· Hosting fundraising events

Cornerstone regularly advises clients in relation to strategic political giving in compliance with federal election laws. As part of our suite of services, Cornerstone actively manages the Federal Election Commission filing requirements for Political Action Committees, provides guidance to and support for the establishment phase, and continually consults with clients on PAC activities including allowable fundraising and solicitation methods. We assist PACs in a broad range of areas, including:

· Recruitment of PAC supporters
· Setting a PAC budget
· Targeted campaign contributions
· Creation of PAC Board
· Registration with Federal Election Commission
· Appointment of PAC Treasurer
· Filing of Federal Election Commission Reports
· Advising PACs on compliance with federal election law
· Attaining Multicandidate Status
· Hosting fundraising events

Federal campaign finance laws permit contributions to federal candidates and other committees through separate segregated funds, commonly known as political action committees or PACs.

Under the Federal Election Campaign Act, an organization becomes a "political action committee" by receiving contributions or making expenditures in excess of $1,000 for the purpose of influencing a federal election.

A multicandidate PAC has received contributions from more than 50 contributors and has contributed to at least five candidates.

Organizations must take several administrative steps to comply with federal law in establishing and operating a PAC, including:

Registering with the Federal Election Commission (FEC)

The main benefit to establishing a separate segregated fund is the ability to use organization funds to pay for PAC startup and administrative costs. In other words, the organization sponsoring the PAC may use general treasury funds to pay all costs incurred in setting up and operating the PAC.

Solicitation rules permit organizations or their separate segregated funds to solicit PAC contributions from stockholders and their families and the organizations executive or administrative (high level-managerial) personnel and their families. Corporations may also solicit the executive or administrative personnel of subsidiaries, branches, divisions, and affiliates and their families. Further, twice a year, the organization or PAC can send out written contribution solicitations by mail to an expanded class of individuals affiliated with the corporation, such as all other employees and their families.

There are several ways to support Federal candidates and political committees involved in Federal elections. Each of these entities and activities are subject to Federal campaign finance law which governs who may participate and how much they can contribute.