It seems like starting a new PAC will be helpful for your corporation. You will have the opportunity to help influence legislation that affects your industry. The Government Affairs team agrees it’s a brilliant idea!
Some things to consider and questions to ask before starting a PAC:
How will you fund the PAC?
- The solicitable class of a corporation includes executive and administrative personnel, stockholders and family members of those groups. Is our solicitable class likely to participate? What is our plan for asking them to give?
What is your plan for the PAC?
- Is our industry heavily regulated by the government? Is there specific legislation affecting our industry? Is any other organization/association representing our interests?
Who will manage the PAC?
- Is it best to keep the management in-house or do we need outside help? Is our budget such that we can afford additional staff and/or consultants?
Managing the PAC is not terribly complicated, but it is time consuming and requires experience. Federal Election Commission regulations have very specific timelines, reporting schedules, and reporting deadlines.
Having a person on staff with FEC experience or hiring an outside vendor is important to keeping your PAC on course and legal.
PASS has been keeping PACs on Track and legal for 40 years, and the compliance experts at PASS are an extension of your team.
Think your start-up PAC is too small for a PAC compliance consultant, give us a call to find out just how cost-effective PASS’ services can be.