Beshear’s PAC Raises Significant Funds in 2025
The political action committee backing Kentucky Governor Andy Beshear, known as “In This Together,” has reported an impressive fundraising total of $824,821 during the first half of this year. This brings the cumulative funds raised in 2025 to a notable $1.4 million. This hybrid PAC reports its financial activities to both the Federal Election Commission (FEC) and the Internal Revenue Service (IRS), showcasing its dual compliance with federal regulations.
Purpose and Formation of the PAC
Established shortly after Beshear’s reelection triumph in 2023, this PAC serves as a strategic instrument for the governor to support candidates aligned with his political views. Moreover, it aims to cultivate relationships with allies that may prove beneficial in his prospective future political pursuits. Although Beshear has not formally declared his intention to run for president, he has been actively engaging in political events in early primary states, reminiscent of his previous activities in swing states last summer when he was considered a potential vice presidential candidate for the Democratic Party.
Major Contributions to the PAC
The largest donation recorded by the FEC this year was $100,000 from a local real estate developer. However, the recent IRS filing revealed a more substantial contribution of $225,000 from Andrew Schwartzberg, a real estate developer with ties to both Maryland and California. Schwartzberg has previously made a significant impact on the PAC, having donated $250,000 in 2024, making him the most prominent benefactor of Beshear’s committee. His companies are primarily engaged in providing affordable rental housing, and he is part of the ownership group for the Charlotte Hornets NBA team.
Schwartzberg’s Philanthropic Footprint
In addition to his contributions to Beshear’s PAC, Schwartzberg has shown a pattern of generous donations to various political action committees over the past two years. This includes a noteworthy $1 million contribution to Pass the Torch USA, a PAC that initially supported Democratic Congressman Dean Phillips in his campaign against President Joe Biden. Following a lackluster performance from Biden in a debate against Donald Trump, this PAC funded advertisements urging the president to withdraw from the race.
Additional Notable Contributors
Maegan Ford Nicholson emerged as the second-largest donor to In This Together this year, contributing $100,000. Although her occupation remains undisclosed, she is recognized as the daughter of Gerald P. Ford, a Texas banker with a thoroughbred horse farm in Versailles. The IRS filing also indicated a $50,000 donation from Christopher Dischinger, co-founder of LDG Development, a Louisville-based rental apartment development firm. Furthermore, Christian Larsen, co-founder of the cryptocurrency company Ripple, also contributed $50,000. Ripple recently concluded a high-profile lawsuit with the U.S. Securities and Exchange Commission, which resulted in a $125 million fine related to the sale of its XRP tokens.
Other Contributions and Expenditures
Additionally, Kentucky Transportation Cabinet Secretary Jim Gray and thoroughbred horse owner Tracy Farmer each contributed $25,000. Contributors Greg Fischer, owner of Fischer Homes, and Jonathan Blue, managing director of Blue Equity and investor in Kentucky’s medical cannabis sector, donated $20,000 each. The largest expenditure reported by In This Together in 2025 was $143,568 directed towards political advertisements supporting Susan Crawford in her successful campaign for the Wisconsin Supreme Court. The PAC also allocated $25,000 to Copper State Values, which supports Democratic Governor Katie Hobbs in her upcoming reelection.
Future Political Activities
In This Together has also reported spending $23,255 on charter flight services in Louisville, reflecting Beshear’s ongoing commitment to political engagements in various states, including South Carolina, a key location for the Democratic presidential primary in 2028. Meanwhile, details regarding the funding and expenses of Heckbent, Beshear’s dark money 501(c)(4) organization, remain undisclosed. This entity can accept unlimited contributions without the requirement for public disclosure. Last year, Heckbent spent over $575,000 on initiatives opposing a constitutional amendment allowing public funding for private education and backing Kentucky Supreme Court candidate Pamela Goodwine, who emerged victorious in her campaign.
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It is important to note that reporting on state governance and political affairs is partially supported by the Corporation for Public Broadcasting.
