When a House or Senate committee sells goods and services, the committee will report the receipt for the proceeds from those sales. The reporting requirement depends on the good or service that is sold.
Proceeds from sale
The full purchase price of a fundraising item or ticket to a fundraising event is considered a contribution. The House or Senate committee reports receiving the contribution on Form 3, Schedule A, just as they would a monetary contribution to the committee depending on the contributor, such as individuals, party committees, PACs and other political committees.
Sale of assets
House and Senate candidates report receipts from the sale or lease of committee assets for their usual and normal charge (such as a mailing list, rented office space, etc.) on Form 3, Line 15 (Other Receipts). The entry should will itemize:
- Name of the purchaser
- Address of the purchaser
- Date of receipt
- Amount of the sale
- The committee may wish to add on its report a brief explanation that it represents the purchase price paid for the sale of the good or services.
Note: if the House or Senate committee sells the good or service for more than the usual and normal charge, the difference between the two is considered an in-kind contribution to the recipient committee. Alternatively, if the committee sells the good or service for less than the usual and normal charge, the difference between the two is considering an in-kind contribution made by the House and Senate committee.
Reporting with FECFile
To enter a receipt for a sale of assets, go to the Summary Page tab, right click on the "Line 15 Other Receipts" and select "new."