Rep. Patricia Schroeder (D-Colo.) didn't come close to the $2 million goal she had set if she were to run for the presidency, but she did raise $787,378 from June 5 through Sept. 30, according to reports filed with the Federal Election Commission. Of that sum, $515,182 remains.
What does Schroeder intend to do with the funds? "I'll tell you one thing, we're keeping it out of the market," said Schroeder adviser Dan Buck.
Actually, Buck said a number of options are being considered. Schroeder will be sending a letter in the next week or two to the more than 20,000 people who contributed to a potential Schroeder candidacy. In the letter, Schroeder will report on her effort, what she learned and what she'd like to do over the next few years, Buck said. A postcard will be enclosed asking contributors whether they want a pro rata share of their donation returned or want her to keep it for an activity to be announced. Buck said it might be used to form a political action committee or a think tank.
Buck added that since Schroeder announced her decision not to run for president in 1988, several thousand dollars have come with notes telling her to save the money for 1992.