By Trey Richardson, Managing Partner
Sagac Public Affairs found that inflation and election uncertainty impacted PAC giving this year, but business PACs should be optimistic about the 2026 election cycle.
The following data highlights a surprising trend in the 2024 election year. More than two-thirds of the top 75 business PACs saw fundraising decline despite it being an election year, traditionally a high-performance period. The variation across PAC types reflects different organizational strategies and external factors impacting fundraising.
1. Overall Trends
The top 75 business PACs experienced an overall average decline of -5% in Q1-Q3 2024 compared to the same period in 2023.
While 31% of PACs grew fundraising (average gain: +18%), 69% saw declines (average loss: -15%).
2. Corporate PACs
Corporate PACs faced the steepest declines among the groups, with an overall average loss of -14%.
Only 16% of the top 25 corporate PACs managed gains (average: +5%), while 84% saw decreases (average: -18%).
3. Corporate Trade Association PACs
Corporate trade associations were more resilient, with an overall average loss of -3%.
32% of the top 25 increased fundraising (average: +18%), while 68% experienced declines (average: -13%).
4. Membership Association PACs
Membership associations bucked the trend, achieving an overall average gain of +4%.
44% of the top 25 saw increases (average: +24%), while 56% recorded losses (average: -12%).
The Outlook for the 2026 Election Cycle is Optimistic for Business PACs if it’s Anything Like 2017-2018.
Based on the outcome of the elections and control of Congress and the White House, business PACs responded with an overall 5% increase in fundraising in the 2018 election cycle.
1. Overall Trends
The top 75 business PACs experienced an overall average decline of +5% in Q1-Q3 2018 compared to the same period in 2017.
60% of business PACs grew fundraising (average gain: 16%), 40% saw declines (average loss: -11%).
2. Corporate PACs
Corporate PACs had the largest increases among the groups, with an overall average growth of +8%.
60% of the top 25 corporate PACs managed gains (average: +16%), while 40% saw decreases (average: -8%).
3. Corporate Trade Association PACs
Corporate trade association PACs grew overall producing an overall increase of +4%.
48% of the top 25 increased fundraising (average: +16%), while 52% experienced declines (average: -6%).
4. Membership Association PACs
Membership associations grew as well, achieving an overall average gain of +3%.
52% of the top 25 saw increases (average: +18%), while 48% recorded losses (average: -13%).
Sagac will provide a complete analysis of business PAC fundraising for the 2024 election year in January 2025.
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