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HCDP Building Fund

Updated: Mar 29



Over the past year, the Executive Board of the Henderson County Democratic Party has been diligently exploring the establishment of a building fund. With our current space feeling increasingly cramped, and the undeniable growth of our party, the need for a new office space is becoming more apparent. Additionally, finding affordable venues for fundraisers, candidate meet-and-greets, and other events has become a challenge. Fortunately, we've been blessed with a significant donation to kickstart our building fund. To address the various questions and concerns raised by our community members, we've put together a comprehensive Q&A to clarify the purpose and permissible uses of the building fund.


What is a Building Fund?

A Political Party Headquarters Building Fund (“Building Fund”) is a separate committee established by the political party executive committee with the State Board of Elections.  It must have a separate Statement of Organization and bank account and must file separate disclosure reports.

 
Why are we establishing a Building Fund? 

We are outgrowing our current headquarters location, which is a good problem to have.  As the party continues to grow, we want to put ourselves in a financial position that will allow us to acquire appropriate office space at the appropriate time.  By creating a separate Building Fund, we can solicit contributions designated for Building Fund use and easily identify how much money has been raised for that purpose.

 
What are the advantages of a Building Fund?

Campaign finance law prohibits HCDP from accepting contributions from anyone other than individuals.  Establishing a Building Fund allows us to solicit contributions from corporations, business entities, labor unions, professional associations, and insurance companies in addition to individuals.  Our hope is we find some generous Democrats in that untapped market of donors.

 

What if I don’t want my contribution going to the Building Fund?

You’re in luck.  The only donations that will go to the Building Fund are those that are made directly to that fund.  If you donate to HCDP directly, your contribution will remain in our operating account and used for operating and GOTV expenses as it is today.

 

How can I be sure the Building Fund and operating account aren’t comingled?

NC campaign finance law states that the Building Fund must be maintained as a separate, segregated fund and that it must not be comingled with other executive committee funds.  In addition, separate disclosure reports must be filed for the Building Fund.  These disclosure reports are public record and can be viewed on the NC State Board of Elections website.

 

When does the lease on our current headquarters expire?

Our current lease expires on June 30, 2027; however, it includes two options to extend it if we choose to do so.  The first option extends the lease to June 30, 2031, and the second option extends it to June 30, 2033.

 

How can Building Fund money be spent?

In general, money in the Building Fund can be spent only to purchase a headquarters building, to construct a headquarters building, to renovate a headquarters building, to pay a mortgage on a headquarters building, to pay rent for a headquarters building, to pay utilities for a headquarters building, or to repay donors if a headquarters building is not purchased, constructed, or renovated.

 

What’s the timing on all this?

Think years, not months.  Establishing a Building Fund and raising enough money to acquire a location for our new headquarters will be a years long project that will ebb and flow as GOTV efforts take priority in election years.

 

How’s this process going to work?

Our plan is to establish a plan that includes goals, objectives and timeframes, and then form a team which will be tasked with executing that plan.  The near-term focus will be on fundraising.  Site exploration/acquisition will take place once enough funds have been raised to allow for that phase of the project to begin.

 

What happens if we get to 2033 and we don’t have enough money in the Building Fund to purchase new space for headquarters?

We can use the money in the Building Fund to pay rent and utilities on space we lease.

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