While a PAC enables a corporation to contribute to federal campaigns, what's notable about the fbPAC filing is the amount of collecting versus contributing the report reveals.
In fact, fbPAC hasn't made any contributions to political campaigns as of January 1, 2012. That might seem unusual since it's a politically charged election year.
Yet the company has been increasingly engaged in politics and policy making on several fronts since the platform [expanded][3] its presence in Washington, D.C.
Earlier this month, we told you that Facebook's [lobbying ][4]expenditures for 2011 reached the $1 million mark.
As of January 1, 2012, fbPAC has cash on hand of $167,280.29. The PAC includes receipts -- or donations -- that amount to $170,009.95 for the period of October 1, 2011 through December 31, 2011.
The majority of receipts, $168,750.00, were received through employee contributions. We share a few of the 44 employee names that contributed to the PAC below.
The only disbursements fbPAC made were in the form of operating expenditures that total $2,729.66. That amount represents mostly PayPal fees, which employees probably used to make their contributions.
The [formation][5] of fbPAC was announced in September, 2011.
As promised, here's [some of the][6] Facebook executives who contributed $5,000, which is probably the maximum contribution fbPAC will accept.
* Mark Zuckerberg, chief executive officer;
* Sheryl Sandberg, chief operating officer;
* Mark Andreeson, director;
* Erskine Bowles, director;
* Elliot Schrage, vice president, corporate communications and public policy;
* Joe Lockhart, vice president, corporate communications; and
* Joel Kaplan, vice president, U.S. public policy.
Other employees gave as little as $250. Whatever the amount, the PAC is a way for employees to participate in the political process and make sure the company's views are represented at the federal level.
As the 2012 election year rolls on, it will be interesting to see where the company wants its voice heard through its campaign contributions. We don't have that long to wait to find out-the next filing deadline is April 15, 2012.
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[![][11]][12] [![][13]][14] [![][15]][16]
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[1]: http://www.allfacebook.com/wordpress/wp-content/uploads/2012/01/capitol-hill.jpg
[2]: http://www.allfacebook.com/facebook-political-action-committee-2011-09
[3]: http://www.allfacebook.com/facebook-continues-to-expand-washington-d-c-team-2011-10
[4]: http://www.allfacebook.com/facebook-lobbying-google-2011-10
[5]: http://www.fec.gov/finance/disclosure/efile_search.shtml
[6]: http://query.nictusa.com/cgi-bin/dcdev/forms/C00502906/763464/sa/ALL
[7]: http://feedads.g.doubleclick.net/~a/mQUb33Gy810Dvu2lEjusMYUh608/0/di
[8]: http://feedads.g.doubleclick.net/~a/mQUb33Gy810Dvu2lEjusMYUh608/0/da
[9]: http://feedads.g.doubleclick.net/~a/mQUb33Gy810Dvu2lEjusMYUh608/1/di
[10]: http://feedads.g.doubleclick.net/~a/mQUb33Gy810Dvu2lEjusMYUh608/1/da
[11]: http://feeds.feedburner.com/~ff/allfacebook?d=pnQdOprp5To
[12]: http://feeds.feedburner.com/~ff/allfacebook?a=4ocT21q6I1Q:9j6y6GWn6fc:pnQdOprp5To
[13]: http://feeds.feedburner.com/~ff/allfacebook?d=qj6IDK7rITs
[14]: http://feeds.feedburner.com/~ff/allfacebook?a=4ocT21q6I1Q:9j6y6GWn6fc:qj6IDK7rITs
[15]: http://feeds.feedburner.com/~ff/allfacebook?i=4ocT21q6I1Q:9j6y6GWn6fc:gIN9vFwOqvQ
[16]: http://feeds.feedburner.com/~ff/allfacebook?a=4ocT21q6I1Q:9j6y6GWn6fc:gIN9vFwOqvQ
[17]: http://feeds.feedburner.com/~r/allfacebook/~4/4ocT21q6I1Q
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