Updates to Chapters One and Two—
BREAKING NEWS!
Eric Jones Has Now Donated More Than $15 MILLION to his Campaign!
By F.E.C. Nerd
Late yesterday (Friday, 10/23/26) Eric Jones’ campaign filed yet another report disclosing even more donations. This was on top of new reporting the prior day (10/22/26) when Eric Jones’ campaign committee filed its required “Pre-General” report. That is the final “full” report prior to the election. It covers the period from the last “full” report (which was 7/1/26 to 9/30/26) through 10/14/2026. In addition, certain special types of reports are required within 24 hours of triggering activities — such as the one filed yesterday. What do all these reports reveal?
Eric Jones’ campaign contributions (boosted by his own $15+ Millions) have now surpassed even Hakeem Jeffries among House candidates nationwide!
And that doesn’t even include last night’s filing. Follow along to see the money trail. Looking at Eric Jones’ campaign filings since the last big report (through 9/30/26 — filed on 10/15/26) there are three. The two main ones will be reviewed below; those are the two most recent.
The first one, the Pre-General 2026 filed just before the deadline on 10/15/26, showed that on 10/1/2026, one day after the previous report closed, Eric Jones made another huge contribution to his campaign — it was just slightly less than $5 MILLION ($4,800,000.00 to be exact). The screenshot below shows all “Itemized Receipts” to Eric Jones’ campaign during the 14 days covered by the latest report. It brings his total (as of 10/14/2026) to $14,864,133.10!
Only a handful of other contributions were received, including two earmarked through ActBlue and one from a “Firearm Dealer” (perhaps because Mike Thompson’s endorsers include: Brady PAC, Everytown for Gun Safety, and Giffords PAC. Below is a link to Thompson’s Endorsements webpage; scroll down through the list to find the “organizations” endorsing him. While scrolling, note also the large number of real cops who have endorsed Mike Thompson (Sheriffs, Chiefs of Police, District Attorneys).
https://www.mikethompsonforcongress.com/endorsements
As seen below, Jones’ $4,800,000 contribution was reported as a loan from “Personal Funds”.
Further detail appears here:
What is the significance of Jones’ last multi-million-dollar contribution being listed as a loan, as compared with his previous multi-million-dollar contributions that were not reported as loans?
The answer may lie in a 2022 U.S. Supreme Court decision in favor of Senator Ted Cruz. In F.E.C. vs. Cruz, the Court’s Republican majority struck down (6-3) a provision of the Bi-Partisan Campaign Reform Act (aka McCain-Feingold) that limited the amount that a candidate’s committee could repay on a loan made by the candidate to $250,000 using contributions raised after the election. The restriction was based upon the concern that funds raised after the election to repay the candidate’s loan essentially go straight into the pocket of the candidate. There is no longer such a limit thanks to Ted Cruz — politics make such interesting bedfellows!
Perhaps Eric Jones needed the additional cash infusion to pay obligations his campaign owes. As the election nears, creditors providing services and materials often become anxious to get paid. Possibly that is what motivated the two most recent Eric Jones contributions reported late yesterday, which total another $300,000.00! (See F6N filing on 10/23/26, below).
This is a 24-hr. deadline filing required in the final days prior to the election, so it had to be filed by midnight last night. I doubt that the F.E.C. totals in the very first screenshot above include these two checks. Adding that $300,000 to the previously reported cumulative total of $14,864,133.10 through 10/14/26, brings the new aggregate total of Eric Jones’ contributions to $15,164,133.10! Again, this new infusion of cash could be to settle debts pre-election; or it could be for last-minute media buys.
Compare the “Total Contributions” for 10/1 to 10/14 ($1,793.54) to the “Disbursements” ($4,441,927.56); and then to the “Debts” in the “Cash summary” in the screenshots below (first the Summary, then the details of portions of debts and then details of disbursements):
The details of the debts reflect a total of 181 obligations. As can be seen in the next two screenshots of just a portion of the details, some debts appear to have been repaid — showing an “Ending balance” of $0.00; while others still have large balances remaining months later.
Portions of the Details for recent disbursements follow in the two screenshots below:
If someone comes to your door, they are likely paid for canvassing given the large sums shown for Red Dog Strategies. Of course, the Sexton Group in Chicago is also getting a lot of money for the “Texting campaign” filling your inbox. Keep researching the F.E.C. website for news.
What about the Super PACs backing Eric Jones’ campaign. What have they reported as of last night? California Leadership Fund Super PAC, the one that is funded primarily by Rishi Dixit, reported another $33,341.00 for “Print Ads” opposing Mike Thompson.
Last, but certainly not least is New Leadership Now Super PAC, the one primarily funded with contributions from Elisa Stad, spouse of Marc Stad, Founder of Dragoneer Investment Group, where Eric Jones was a Partner. Below are screenshots of their most recent filings.
Elisa Stad poured in another $750,000.00 to bring her total through 10/14/2026 to $4,250,000.
How are they spending this money? The copy below of their spending against Mike Thompson is shown in full, because there are too many entries to capture in a screenshot.
SCHEDULE E
INDEPENDENT EXPENDITURES
FILING FEC-2036005
Committee: NEW LEADERSHIP NOW
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/09/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $802.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/11/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $653.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/13/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $270.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/15/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $142.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/23/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $85.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: VOTER DATA
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 09/24/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $417.00
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: TELEVISION ADS
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 10/13/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $183366.50
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: DIGITAL ADS
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/13/2026
Date of Public Distribution/Dissemination = 10/13/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $266633.50
Calendar YTD Per Election for Office Sought = $1839302.72
COMMON BLUE STRATEGIES
2248 BROADWAY, #1423
NEW YORK, New York 10024
Purpose of Expenditure: ADVERTISING PRODUCTION
Name of Federal Candidate supported or opposed by expenditure: MIKE THOMPSON
Office Sought: House of Representatives
State is California in District 04
Date of Disbursement or Obligation = 10/14/2026
Date of Public Distribution/Dissemination = 10/13/2026
Person Completing Form: MATTHEW ALVAREZ
Date Signed = 10/16/2026
Amount Expended = $9850.00
Calendar YTD Per Election for Office Sought = $1839302.72
Subtotal of Itemized Independent Expenditures = $462219
Subtotal of Unitemized Independent Expenditures = $0
Total Expenditures This Period = $462219
But wait, there’s more! Just yesterday, yet another report was filed by New Leadership Now Super PAC. Watch your mailboxes — both postal and digital — because more ads against Mike Thompson will be arriving soon! And there likely will be even more in the coming week, especially for Digital Ads.
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