Eric Adams’ re-election hopes took a hit Monday when the Campaign Finance Board (CFB) declined to approve more than $4 million matching funds to the mayor months after his indictment on federal public corruption charges.
The CFB’s decision came Monday following a unanimous vote of the six-person panel on approving matching funds for qualified candidates who met the board’s criteria for this cycle. CFB Chair Frederick Schaeffer explained that the board determined Mayor Adams was ineligible for matching funds “at this time” because it suspects a “reason to believe the Adams campaign has engaged in conduct detrimental to the Matching Funds Program and in violation of law — including the Campaign Finance Act and board rules.”
Vito R. Pitta, Adams’ campaign counsel, expressed disappointment in the CFB’s denial on Monday, but said it would “continue to work with the board to address any issues so that funds can be appropriately disbursed.” He also noted that the Adams campaign “continues to have far more resources than his opponents, and we are very confident we will have the support we need to spend the maximum amount allowable in the upcoming primary.”
The New York State Board of Elections notes that Adams nonetheless has in excess of $3 million in contributions on hand.
Schaeffer said that the CFB’s decision against Adams came after the panel reviewed “all available information, including the details of the indictment against Mayor Adams.”
Hizzoner became the first sitting mayor in New York City history last September to be criminally indicted, standing accused of accepting illegal foreign donations and using them to unlawfully obtain matching funds from the CFB’s program for his ultimately successful 2021 mayoral election.
“His campaign also failed to provide documents and information requested by the board,” Schaeffer said toward the end of the brief Dec. 16 meeting in which the decision was announced. “Accordingly, Mayor Adams’ campaign for re-election has failed to demonstrate eligibility for public funds payment at this time. Our priority remains achieving an equitable and transparent democracy that is accountable to all New Yorkers.”
Since his indictment, Mayor Adams has denied any wrongdoing and has suggested the prosecution is political in nature. The case is scheduled to go to trial in April.
Schaeffer’s explanatory statement, he noted, was extraordinary in that the CFB normally does not provide a public explanation on its funding decisions. In this case, with such “unusual circumstances” and great public interest regarding Adams’ re-election effort, he said the board “determined that it is appropriate to be transparent with the public with respect to the campaign of Mayor Adams.”
No fewer than seven individuals have emerged to challenge Mayor Adams in the 2025 Democratic primary: City Comptroller Brad Lander, former City Comptroller Scott Stringer, state Senators Zellnor Myrie and Jessica Ramos, Assembly Member Zohran Mamdani, former Assembly Member Michael Blake and attorney Jim Walden.
Only Stringer was approved Monday to receive matching funds; the CFB will provide him with $2,088,571. To date, Stringer had raised $587,416, with 89.4% of donations coming from small donors.
Candidates are eligible to receive 8-to-1 matching funds if they meet certain funding thresholds and properly submit various filings to the CFB, such as statements of needs or forms from the Conflicts of Interest Board. The CFB conducts monthly releases of campaign funds each cycle, so those who are ineligible now can still receive matching funds down the road if they meet qualifications and submission requirements.
