by Robert Kraft, Chairman & CEO, FirstPathway Partners | IIUSA PAC Board President | IIUSA President Emeritus
A BIG STEP
This year, as part of its ongoing effort to strengthen its presence on Capitol Hill, flatten the EB-5 learning curve for federal legislators, and identify and support an expanded number of EB-5 champions, IIUSA created a federal political action committee (PAC) called the IIUSA PAC. Establishing and managing a PAC requires attention to details, awareness of federal rules, and a willingness among an association’s members to participate and support the PAC. The IIUSA Leadership Circle and board of directors took these realities into account, debated the pros and cons of taking this step, and ultimately decided the benefits far outweigh the concerns or necessary diligence. I believe they are right.
Political action committees are formal organizations committed to supporting political candidates who reflect a PAC’s priorities and values. A PAC receives voluntary financial contributions from those permitted to provide them and uses that money to support selected political candidates. Every PAC must register with the Federal Election Commission (FEC) and follow specific rules regarding how (and to whom) they solicit contributions to their cause and how they make contributions to candidates. IIUSA elected to file its new PAC with the FEC as an “affiliated PAC.” Specifically, IIUSA PAC is “affiliated” with IIUSA, a 501(c)(6) business league/trade association. This type of registration allows IIUSA (the corporate non-profit) to pay for IIUSA PAC’s administrative costs such as IIUSA PAC related events and a separate dedicated accountant to handle the IIUSA PAC’s distinct bank account and all necessary FEC filings. Permitting IIUSA to budget for and underwrite these costs assures 100% of contributions IIUSA PAC receives are provided to its selected candidates.
In exchange, however, rules governing “affiliated” PACs require certain thresholds be met before they are fully functional and demand specific restrictions on how funds are solicited. IIUSA and IIUSA PAC take these rules very seriously and closely monitor any PAC related activities to be sure the association and its affiliated PAC remain compliant.
FULLY FUNCTIONAL
FEC rules limit the amounts PACs can contribute to both of candidates’ elections (primary and general elections). The chart below illustrates the difference between multicandidate PACs’ limitations and non-multicandidate PACs’ limitations. The top line lists the entities to which a PAC may give money. IIUSA PAC is focused on the first column: contributions to “Candidate Committee per Election.” Note multicandidate PACs can provide $1,700 more to a candidate’s primary election and again to a candidate’s general election.
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Special Holiday Membership Offer!
In the spirit of the holiday season, IIUSA is excited to extend a unique opportunity for non-member EB-5 Service Providers and Regional Centers to join our community at a special discounted rate. For a limited time, new members will receive an additional $250 off of the original 50% introductory discount for 1st year’s dues. This exclusive offer is our way of welcoming new voices and perspectives to our robust platform.
Why Join Now?
- Exclusive Access to Our Upcoming Government Affairs Webinar*: Understand the inner workings of the IIUSA PAC and engage directly with leaders shaping the EB-5 industry.
- Participate in the IIUSA PAC: By joining IIUSA and signing the prior approval form, you gain the privilege to participate in the PAC, influencing policy and championing EB-5 interests at a federal level.
- Network and Collaborate: Connect with a diverse group of professionals and entities in the EB-5 sector, enhancing your knowledge and expanding your business opportunities.
Your membership is not just a gateway to exclusive benefits, it’s a step towards shaping a more informed and effective EB-5 program. Together, we can make a significant impact in the industry and beyond.
Act Now! This offer is available for a limited time. Join us before the webinar to ensure your participation and take full advantage of the benefits IIUSA membership offers.
Welcome to IIUSA, where your voice strengthens our collective mission.
For more information on the value of IIUSA membership, check out the Membership Benefits Brochure. If you have questions on IIUSA membership or the upcoming Government Affairs Webinar, please contact info@iiusa.org or call (202) 795-9669.
*Access to the webinar requires both membership with IIUSA and your employer signing a PAC prior approval form. Contact ashley.casey@iiusa.org for questions.
