DNC in Money Pit, Obama Heading West: Gold on That Bay

Photograph by Mark Wilson/Getty Images

President Barack Obama participates in a naturalization ceremony in the East Room of the White House on March 25, 2013 in Washington DC.

President Barack Obama will headline two San Francisco Bay-Area fundraisers next week for the Democratic National Committee, which is trying to dig itself out of a $22 million hole.

Obama will make his DNC pitches on April 4; the day before, he’ll participate in two San Francisco fundraisers for the Democratic Congressional Campaign Committee.

The April 4 festivities begin with a 30-person brunch at the Atherton  home of Liz Simons and Mark Heising, followed by a lunch for 200 at the nearby home of Marcia and John Goldman, according to DNC invitations.

Heising is managing director of Medley Partners, a private equity firm based in San Francisco. He sits on the board of the Environmental Defense Fund. Obama named Goldman, a board member of the San Francisco Symphony and its former president, to the Advisory Committee on the Arts for the John F. Kennedy Center for the Performing Arts.

Brunch costs $32,400 and includes a photograph with the president, and lunch is $1,000 per plate (more for a photo).

It could be a $1 million day for the DNC, which needs the cash influx. In its March 20 report to the Federal Election Commission, it reported almost $22 million in debts and obligations and about $4 million cash on hand as of the end of February.

The parties are experiencing a bit of reversal of fortune these days.

The Republican National Committee’s money woes while former Maryland Lt. Go.v Michael Steele was its chairman were well-chronicled. Last month, the RNC had zero debt and $7.5 million in the bank.

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