Zohran Mamdani, the Democratic candidate for New York City mayor, announced on Monday, March 24th, that his campaign has reached the fundraising cap for the primary, marking a significant milestone in the race. This achievement makes Mamdani the first candidate this election cycle to hit the cap and the fastest to do so in the city’s history.
The announcement comes three months before the scheduled June primary, giving Mamdani’s team the opportunity to focus on other critical aspects of campaigning, particularly voter outreach. By reaching the fundraising limit, Mamdani’s campaign has secured the maximum allowable funds for the race, including both private donations and public matching funds. The campaign, which has raised more than $8 million, is backed by approximately 18,000 small-dollar donors across the city.
Mamdani’s campaign has also reported an average donation size of $84, which is considerably smaller than those made to other candidates, including former Governor Andrew Cuomo. This points to a grassroots-driven campaign model, with significant support from working-class New Yorkers. In contrast, Cuomo’s fundraising includes donations from individuals who are largely outside of the city’s traditional donor base.
The CFB will make its final decision regarding public funds on April 15, 2025. According to CFB Secretary Timothy Hunter, “Any projections of matching funds payments shared by campaigns are based solely on the campaign’s estimates.”
With fundraising now complete, Mamdani’s team is shifting its attention to ramping up volunteer activities. With over 7,000 volunteers, they have set a goal to visit 1 million doors before the election. “We have the money to be on TV, in your mailbox, on your phone,” Mamdani stated. “But there’s one more place we need to be—your block.”
This announcement arrives as former Governor Andrew Cuomo tops the overall fundraising, collecting $1.5 million in the last period, but reporting slightly over $330,000 in contributions that are eligible for matching. Filings indicate that at least $120,000 of Cuomo’s raised funds came from registered Republicans.
Candidates must confirm their participation in the public finance program by April 28th. The next key deadline for disclosures is May 23rd, with public funds being distributed to eligible campaigns on May 30th.
