Beshear’s PAC Secures Additional Funding
In the first half of the year, the political action committee (PAC) “In This Together,” associated with Kentucky Governor Andy Beshear, announced it has raised an impressive $824,821. This brings the committee’s total fundraising for 2025 to approximately $1.4 million. This hybrid PAC is responsible for reporting its contributions to both the Federal Election Commission (FEC) and the Internal Revenue Service (IRS). Recent filings indicate that the PAC secured $618,210 through the FEC, with an additional $824,821 reported in the IRS submission.
Purpose and Future Aspirations of the PAC
Established shortly after Beshear’s reelection in 2023, the PAC serves a dual purpose: assisting candidates he endorses and fostering relationships with potential allies for future political aspirations. Although the governor has yet to confirm any presidential ambitions, he has been actively delivering speeches in early primary states, similar to his campaign activities last summer when he was considered a possible vice-presidential candidate for the Democrats.
Major Contributors to the PAC
The largest donation recorded by the FEC this year was a substantial $100,000 from a local real estate developer. However, the IRS report highlighted a more significant contribution of $225,000 from Andrew Schwartzberg, a prominent real estate developer from Maryland and California. Schwartzberg has previously donated $250,000 to the PAC in 2024, establishing him as the leading financial supporter of Beshear’s political efforts. His business interests primarily focus on affordable rental housing, and he also holds a stake in the Charlotte Hornets NBA team.
Schwartzberg’s Philanthropic History
Over the past two years, Schwartzberg has been an active contributor to various PACs, including a notable $1 million donation to Pass the Torch USA, which initially backed Democratic Congressman Dean Phillips in his challenge against President Joe Biden. The PAC later funded advertisements encouraging Biden to withdraw from the race after a disappointing debate performance against Donald Trump.
Additional Notable Donations
Following Schwartzberg, the second-largest contributor to “In This Together” according to the IRS report is Maegan Ford Nicholson, who donated $100,000. Although her profession and employer are not disclosed, she is recognized as the daughter of Gerald P. Ford, a Texas banker with interests in thoroughbred horse breeding. The IRS filing also showed contributions of $50,000 each from Christopher Dischinger, co-founder of LDG Development, and Christian Larsen, co-founder of Ripple, Inc., a cryptocurrency firm recently involved in a significant legal case with the U.S. Securities and Exchange Commission.
Other Contributors and Expenditures
Additional donations included $25,000 from Kentucky Transportation Cabinet Secretary Jim Gray, and $20,000 from Greg Fischer, owner of Fischer Homes. Jonathan Blue, a significant investor in Kentucky’s medical cannabis sector, also contributed. The PAC’s largest expenditure this year was $143,568 spent on political advertising supporting Wisconsin Supreme Court candidate Susan Crawford, who triumphed in her election in April. Furthermore, “In This Together” allocated $25,000 to Copper State Values, a PAC backing Arizona Governor Katie Hobbs in her upcoming reelection bid.
Opaque Funding Sources
The PAC also reported a $23,255 expenditure on a charter plane service based in Louisville for Beshear’s political engagements in various states, including South Carolina, which is expected to play a crucial role in the 2028 Democratic presidential primary. There remains a lack of transparency regarding the funding and spending activities of Heckbent, Beshear’s dark money 501(c)(4) organization. This entity can accept unlimited contributions without public disclosure and spent at least $575,000 last year to oppose a constitutional ballot initiative related to public funding for private education and to support Kentucky Supreme Court candidate Pamela Goodwine, who won her election.
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