Obama rakes in $20 million

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Sen. Barack Obama of Illinois has collected $20 million for his presidential bid in the latest quarter, attracting 93,000 new donors and so far leading the Democratic field.

Sen. Hillary Rodham Clinton of New York did not release her fundraising totals yesterday, but the Democratic front-runner is expected to report having raised less money than Mr. Obama. The former first lady has amassed millions but just barely trails Mr. Obama in total money raised, in part because he has attracted 352,000 individual donors, with some giving as little as $5.

"The number of donors matters," said former FEC Commissioner Bradley Smith, adding the Obama total is "impressive."

"Raising a lot of money is a sign people think you are viable, and a lot of contributors is often a very good predictor of electoral success," said Mr. Smith, a law professor and chairman of the Center for Competitive Politics. "But I'm not sure it's enough to offset his 20-point gap in national polls behind Hillary."

The Obama campaign did not release the cash the senator has on hand. The detailed reports for the third quarter of 2007, which ended Sunday, are not due until Oct. 15.

Mr. Obama's third quarter included a $3 million fundraiser with talk-show mogul Oprah Winfrey, an event with mega-investor Warren Buffet and a low-dollar match program where the campaign united small donors with people who matched the amount the smaller donor could give. Of the $20 million total, more than $19 million can be spent on the Democratic primary.

Since entering the race this winter, Mr. Obama has raised nearly $75 million in primary money. He also has raised about $4 million more that can only be spent after the party convention, should he win the nod.

Mrs. Clinton, who leads all national polls, raised about $63 million through the second quarter, and her campaign told reporters last week she will raise between $17 million and $20 million in the third quarter.

Obama campaign manager David Plouffe derided those who think the "outcome of this race to be pre-ordained, and the primary process a mere formality," and said the number of donors proves a "grass-roots movement for change will not be deterred by Washington conventional wisdom because in many ways it is built to challenge it."

No Republican candidates officially released their donation totals for the third quarter. A campaign source with former Sen. Fred Thompson of Tennessee, a newcomer to the Republican field, said he will report raising $8 million in the third quarter. He also raised $3.5 million in June, when he began testing the presidential waters.