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Campaign Disclosure Glossary F - J


A - E   F - J   K - P   Q - T   U - Z
Federal filing option – A federal political committee which also qualifies as a political committee in the State of Illinois is not required to file Illinois or federal reporting forms with the Board if it indicates that it is using the federal filing option. In order for a federal political committee to take advantage of this option, it must file a D-1 Statement of Organization with the State Board of Elections. On the D-1 form, the political committee shall state in Part 6 its intention to file pursuant to section 100.60 of the campaign financing regulations. Federal campaign disclosure filings are not included in the Illinois State Board of Elections data base.

Filing deadline – The date on which a disclosure report must be physically at the filing location. A paper report must be received at the filing location by 5:00 p.m. on the last day to file. An electronically filed report is timely if received by 11:59:59 p.m. Faxed quarterly and final reports are not accepted. (The Schedule A-1 form and the D-1 Statement of Organization may be faxed. The D-1 may also be scanned and attached to an e-mail and sent to D1@elections.il.gov.)

Filing location – All political committees shall file all disclosure statements and reports with the State Board of Elections. Committees are no longer required to file disclosure documents with the county clerk.

Filing period – The period of time designated for the filing of a particular report. The filing period for a quarterly report extends from the end of the reporting period through the 15th day of the following month.

Filing threshold – The figure at which a political committee must file disclosure documents. When more than $3000 is either received or expended in support of or opposition to a candidate or proposition within any 12 month period, the political committee is required to file as a political committee and must continue filing disclosure documents until such time as all funds are expended and all financial political activity shall cease.

Final report – The last report to be filed by a political committee. The D-2 form shall be used to file a final report and shall include all receipts and expenditures from the closing date of the previous quarterly report (or the committee’s date of creation) through its last expenditure. It shall report a closing balance of $0, the disposition of all assets and residual funds, the liquidation of all investments, and any outstanding debts. All disclosure filing obligations shall cease with the filing of this report unless or until the political committee again engages in activity which meets the definition of a political committee.

Financial institution – Any repository of committee funds. Funds of a political committee may not be commingled with personal funds of any candidate or officer of the committee. When listing financial institutions on the D-1 Statement of Organization, all repositories of committee funds as well as any firms from which investments have been purchased must be included.

Good faith effort – The itemization of any contribution exceeding $500 during a reporting period must include the employer and occupation of the contributor, if that contributor is a natural person. If the political committee receiving the contribution is unable to provide this information, it may report on the Schedule A that it has made a good faith effort. A good faith effort is deemed to have been made if the political committee included a request for this information in its solicitation, made a written or oral request for this information if it did not receive this information with the contribution, and provided whatever information was available to it from its own records and previous reports. This information is also required of endorsers of loans.

Independent expenditure – Any payment, gift, donation, or expenditure of funds (i) by a natural person or political committee for the purpose of making electioneering communications or of expressly advocating for or against the nomination for election, election, retention, or defeat of a clearly identifiable public official or candidate and (ii) that is not made in connection, consultation, or concert with or at the request or suggestion of the public official or candidate, the public official’s or candidate’s designated political committee or campaign, or the agent or agents of the public official, candidate, or political committee or campaign.

Independent-expenditure-only PAC– A special type of political action committee that is not subject to contribution limits, but is also unable to make coordinated expenditures or direct contributions to candidates or committees. This type of PAC was made possible by a US District Court ruling (Personal PAC v. William M. McGuffage, et al. No. 12-CV-1043.)

Individual contribution – A donation of cash by an individual including a friend, a family member, a business, a corporation, a labor union, an association, or any other organization. Money collected from individuals at fund-raising events shall be reported as individual contributions. Individual contributions shall be reported in Part 1 of the D-2 form and shall be itemized on a Schedule A if they exceed $150 during a reporting period.

Inkind contribution – A contribution of anything of value, other than cash, made directly to a political committee or indirectly on behalf of a political committee. Anything of value includes all things, services, or goods, regardless of whether they may be valued in monetary terms according to ascertainable market value. Inkind contributions shall be reported in Part 5 on the D-2 form. If valued in excess of $150, they shall be reported on a Schedule I by name, address, ascertainable market value, date, description of the inkind, and vendor, if applicable.

Inkind contribution notice – The form, available from the State Board of Elections, which the contributor of any inkind donation valued in excess of $50, may complete and provide to the recipient candidate or political committee. The law requires a detailed account of the contribution to be provided to the recipient committee within 5 business days. This form is provided by the Board to provide assistance to the recipient committee.

Investment – A political committee is allowed to invest committee funds. Such investments shall be reported as Part 8 expenditures, and any interest earned or amounts liquidated shall be reported as Part 4 receipts. All investments must be liquidated prior to the filing of a final report. A political committee earning income from an investment will incur tax liabilities and will be required to file with the appropriate state and federal agencies. Savings accounts and interest bearing checking accounts shall not be considered investments for reporting purposes under the Illinois Campaign Financing Act. The total value of all investments shall be reported on Line F of the D-2 form for each semi-annual report.

Investment schedule – The form to be submitted with a quarterly report if the political committee has invested committee funds. The Investment Schedule shall report the name of the political committee, the reporting period, a description of the investment, number of shares (if applicable), date of purchase, purchase price, value at the end of the reporting period, date and value upon liquidation (if applicable), and total value of investments currently held.

Itemized, not itemized – All receipts exceeding $150, including inkind contributions, shall be reported by name, address, date and amount. All receipts from a natural person exceeding $500 shall include the contributor’s occupation and employer. All expenditures exceeding $150 shall be reported by name, address, date, amount, purpose and beneficiary. All debts and obligations exceeding $150 shall be reported on a quarterly or final report by name, address, date debt was incurred, original amount, cumulative payment to date, and outstanding balance at the close of the reporting period. All receipts, expenditures, and debts and obligations of $150 or less shall be totaled and entered on the not itemized lines of the appropriate parts of the D-2 form.

 



Campaign Disclosure Glossary F - J

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