The lightly regulated machine of LLC campaign donations has continued to pump funds to New York state candidates and political action committees, with at least $2.9 million flowing just since the September 13 primary. That’s in addition to the $10.8 million in LLC giving earlier in 2018 and the $42 million LLCs gave in 2015-2017. Notably, some new names emerged among the top givers and receivers of the late-stage campaign cash.

Limited liability companies (LLCs) are a popular form of business ownership—combining the legal conveniences of a corporation with the tax advantages of a partnership or sole proprietorship. It’s a good fit for enterprises like real estate seeking to limit their liability, but a bad match for New York State’s campaign finance laws, which treat LLCs as people. That has led to three big problems.

First, the state’s loose donation limits for individuals mean LLCs, under the fiction that they are people, can give large amounts to each campaign. Second, because a company can create dozens of LLCs, it can have a huge financial impact on campaigns by using multiple LLCs to each give up to the limit. And third, because LLCs have obscure names (“RS LLC” and “MP 2020 LLC” are among those listed in state campaign finance reports), it can be difficult or impossible to find out where the money is really coming from, thwarting the principle of transparency that is fundamental to campaign finance laws.

City Limits and the Wayne Barrett Project of the Investigative Fund produced a comprehensive look at the problem and its impact back in September. There we identified the corporate headquarters linked to the largest tallies of LLC donations and the candidates and committees who received the largest share of the largesse. Real-estate entities made up the bulk of the former — and Gov. Andrew Cuomo dominated the latter.

Cuomo has remained one of the leading recipients of LLC money since the primary, but the battle for control of the State Senate has pushed the Republican Senate Campaign Committee and Democratic Senate Campaign Committee to the top of the list. Cuomo ranks third, with the campaign of New York City Public Advocate Letitia James, a Democrat, for attorney general, coming it at fifth. Two PACs associated with the Real Estate Board of New York (the REBNY PAC and the Jobs for New York PAC) gave mightily. Balance New York is working to keep the state Senate red; LAWPAC represents trial lawyers.

Top Recipients of LLC Donations Since the Primary

Recipient Amount received since 9/13/2018
Senate Republican Campaign Committee $505,500
Democratic Senate Campaign Committee $272,000
Andrew Cuomo 2018, Inc. $218,416
Jobs for New York $166,000
James for NY $155,850
New York State Democratic Committee $140,000
Real Estate Board PAC $134,000
Balance New York $97,000
Suffolk County Democratic Committee $89,400
LAWPAC of New York $81,973


Since LLC donations can reflect contributions that bear different company names but come from the same corporate headquarters, we looked at which addresses have been associated with the most giving since the September primary.

Real-estate companies are still among the biggest players as the campaign enters its final stretch. But a few other interests are also in the top 10 LLC donors. Brown & Weinraub is a lobbying company that has given through an LLC to its own PAC, which in turn has split its money between the major parties, inking identical checks to both the Senate Republican Campaign Committee and the Democratic Assembly Campaign Committee—essentially betting on the status quo. Big gifts to James and Lt. Gov. Kathy Hochul put MacAndrews & Forbes, a conglomerate that sells everything from makeup to military equipment, at No. 10.

Top Sources of LLC Donations Since the Primary

Address Amount donated since 9/13/2018 Source Industry Recipients
145 Huguenot Street, New Rochelle $197,000 Multiple LLCs associated with S.W. Management real estate Balance New York, Senate Republican Campaign Committee
101 Park Avenue, Manhattan $125,750 H.J. Kalikow & Co. real estate Senate Republican Campaign Committee , DiNapoli 2018, Inc., Committee to Elect Judge Norman St. George, Jobs For New York, Pravato for New York, Renew New York PAC, Friends of Tom O’Mara, Real Estate Board PAC, Friends for Kathy Hochul
420 Lexington Avenue, Manhattan $111,750 SL Green Management LLC real estate Senate Republican Campaign Committee, Andrew Cuomo 2018, Inc., Jobs for New York, Real Estate Board PAC, David Carlucci for New York
250 Vesey Street, Manhattan $100,000 Brookfield Properties Developer LLC real estate New York State Democratic Committee
870 7th Avenue, Manhattan $100,000 Highgate Hotels Gp LLC hotels/real estate Democratic Senate Campaign Committee
387 Park Avenue South, Manhattan $81,000 TF Cornerstone Group LLC real estate Senate Republican Campaign Committee, Jobs for New York
11 West 42nd Street, Manhattan $80,000 Tishman Speyer Development LLC real estate Kaminsky 2018, Gaughran 2018, New York State Democratic Committee, Friends of Karen S. Smythe, Friends of James Skoufis, Friends of Monica Martinez, Senate Republican Campaign Committee , Friends of Aaron Gladd, Democratic Senate Campaign Committee , Real Estate Board PAC
45 Main Street, Brooklyn $75,500 Two Trees Management Co,. LLC real estate David Carlucci for New York, Gaughran 2018, James for NY, Friends of Steve Cohn, Friends of Aaron Gladd, Real Estate Board PAC
50 State Street, Albany $65,000 Brown & Weinraub, PLLC lobbying/law BW PAC, Citizens for Hannon
35 East 62nd Street, Manhattan $55,000 MacAndrews & Forbes Group, LLC multiple Friends for Kathy Hochul, James for NY
It’s worth noting that it’s the top address—145 Huguenot Street—that best reflects the issues that arise with LLC giving. Seventy-nine separate donations from 79 different LLCs emerged from that address, headed toward Balance New York or the Senate Republican Campaign Committee. Those LLCs own properties where Stanley Wasserman of S.W. Management is listed as head officer in city property registrations.
One of the big promises that both Gov. Cuomo and the Senate Democrats have made is that if the State Senate goes blue, closing the LLC loophole will be a top priority. It will be interesting to see what happens if voters give them the chance to make good on that promise.
This article was reported in partnership with The Wayne Barrett Project at The Investigative Fund.