How will I know what the IVCA-PAC is doing with my money?
IVCA is committed to improving member communications across the board. This will be especially true with regard to its legislative agenda and actions and the IVCA-PAC. Members will receive our legislative and PAC plans for the year and will be asked for their input, especially in identifying emerging issues and new relationships for the private equity sector in Illinois. IVCA-PAC will report on its activities, the candidates we supported, and related political developments.
We hope that all of our investor members will contribute at some level. We do have 100% participation from our board members. We are not accepting contributions from service provider members, but appreciate their attendance at fundraisers to show support for the candidates we endorse. Checks can be from individuals, corporations, partnerships, LLCs, or LLPs.
Unlike federal donations, contributions at the state level are unlimited and any level of support is appreciated. We have established an Anchor Member giving level of a three-year, $5,000 annual commitment for those members who wish to become major contributors to the IVCA-PAC.
My firm and I stay informed on politics and already make political contributions. Why should we contribute to the IVCA-PAC?
Political contributions made through the IVCA-PAC send a clear issue message to the candidate. The candidate knows what issues are important to you and our other members. Can your personal political contribution send that kind of message?
Just because you don’t pay attention to politics doesn’t mean that political decisions don’t affect you and your firm. The government will either do something to us or for us, but it won’t ignore us. And so we can’t ignore it. Government decisions that adversely affect our industry can affect all our livelihoods. A key mission of the IVCA is to ensure that these legislative actions advantage our industry rather than provide additional constraints to private equity investment in Illinois.
This may happen on occasion. A lawmaker might be opposed to us on one issue, but be our most active supporter on another issue. Of course, we always hope to be able to change their views – or at least have the opportunity to present our positions on the issues before they vote. The PAC affords us this opportunity.
By law, trade associations cannot directly contribute to candidates for state office. However, they are permitted to administer a political action committee, which may collect and distribute contributions from their members.
The money raised by candidates is used to finance the cost of political campaigns. For candidates to take their messages to voters in a campaign today takes a lot of money. In most cases, candidates must rely on expensive television and radio advertisements, direct mail efforts, polling, and campaign consultants. Then there are the traditional posters, bumper stickers, billboards, and other political paraphernalia. The cost of running for office can be quite high.
PAC contributions help support their efforts and are appreciated.
You can call IVCA’s government affairs liaison, Penny Cate. Her phone number is 847-786-4540; her email is pcate@illinoisVC.org. We welcome your questions, comments, and concerns about the IVCA-PAC and we appreciate your feedback about PAC solicitations, policies, and candidates supported.