THE ISSUE
New York City's Public Finance System allows for small donations to be turned into matching sums given out by the Campaign Finance Board of New York. Any candidate for muncipal office is eligible, but this article primarily applies to mayoral candidates.
Candidates first have to qualify for the voluntary program by raising $250,000 in individual checks of $250 or less from 1,000 individual donors. Once a candidate reaches that number, the Campaign Finance Board of New York gives—or matches—that money at a specific ratio based on the number of contributions below $250. This year campaigns receive $8 for every $1 matched under that public financing ratio. The individual contribution limit is $2,000.