#NeverTrump Lincoln Project raised $1.9M in Q1, over $1.16M from small donors giving less than $200. It logged $1,135,686 in operating expenditures and another $148,132 in independent expenditures, burning through $1,284,078.
Strap in...
Strap in...
After its $1.9 million Q1 haul, the Lincoln Project spent $148,132 on independent expenditures (all to firms operated by Lincoln Project founder Reed Galen and Lincoln Project member Ron Steslow), with a staggering $1.135 million on operating expenditures. 
The ostensibly #NeverTrump Republican Lincoln Project spent $85,707 on merchant fees, $36,948 on its Democratic fundraising consultant, $15,078 on its Democratic compliance firm, and $3,000 for the Democratic NGP Van software. subscription.
Of the remaining $1.14M @ProjectLincoln burned through, $1.08M went straight back into the coffers of Lincoln Project members, w/founder Reed Galen's Summit Strategic Communications collecting $921,790, Ron Steslow's TUSK Digital paid $140,814, and Jennifer Horn paid $17,930
To date, @ProjectLincoln has raised $2,587,887, largely from small donors, and spent $1,384,428, w/$153,733 on merchant fees, software subscriptions, fundraising, and compliance, and 92% of the remaining expenditures enriching Lincoln Project members and their firms.
Oh.
Nevermind. I see now that the seemingly-inflated ad production costs are entirely justified.
(FWIW, per the @FCCFed tracker, there have been a grand total of ten Lincoln Project invoices since December for political ad reservations, with a gross advertising total of $82,680).
