Obama Campaign Fundraising Tops $75 Million In July

08/06/2012 10:13 am ET | Updated Aug 06, 2012

The Obama campaign, Obama Victory Fund and Democratic National Committee together raised over $75 million in July, but less than the $101.3 million raised by the Mitt Romney campaign, Romney Victory Fund and Republican National Committee.

It was not immediately clear how much each group raised independently. In May, the combined Romney entities had beaten the Obama entities, but the Obama campaign far outraised the Romney campaign and the RNC outraised the DNC.

The Obama campaign said 98 percent of donations were $250 or less, and the average donation was $53.49. Donors to the campaign numbered 761,000, according to the campaign, of whom 201,000 had not given previously or in 2008.

A campaign aide confirmed that the money raised was for the campaign itself, the Democratic National Committee and Obama Victory Fund -- a three-tiered structure that allows them to receive larger checks from donors. The maximum amount someone can give is $75,800, the same as what someone can give to former Governor Mitt Romney's campaign. According to another aide, the state Democratic parties that participate in the Victory Fund include Colorado, Florida, Iowa, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania, Virginia and Wisconsin. Those state Democratic parties receive a portion of the money that goes into the victory fund, limiting the amount that can be spent strictly on the presidential election.

Asked how much cash the campaign had on hand -- a key figure, as it indicates how much money the campaign is spending on a monthly basis -- Obama campaign press secretary Ben LaBolt said they would release that figure when they file their report.

UPDATE: 10:28 a.m. -- NBC's First Read hits an important point:

Even though Team Romney has outraised Team Obama in recent months, the actual Obama campaign has continued to outpace the Romney campaign, while the RNC has significantly outraised the DNC.

Why are these distinctions important? Because while the campaigns do control the party and victory fund money, there are limitations in how it can be used. For example, coordinated party expenditures are limited to $21.7 million in this presidential contest.

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