Iranian American Political Action Committee (IAPAC)
A contribution to a PAC is anything of value given to influence a federal election. This includes gifts of money, gifts of goods and services (in-kind contributions) and loans and guarantees or endorsements of loans.
All receipts to a PAC must be forwarded to the Treasurer or designated assistant for deposit immediately. Prior to depositing the funds, the Treasurer or his/her designee must review each check to determine if any on their face are illegal or questionable.
A PAC may only receive contributions from U.S. citizens or permanent residents who are eighteen years or older. Foreign nationals are prohibited from contributing to a PAC.
A PAC is prohibited from accepting contributions from corporations and labor unions.
A PAC is prohibited from accepting contributions from federal government contractors.
A PAC may raise funds by selling fundraising items or tickets to fundraising events. The full price for the ticket or event is the contribution amount, even if a part of the costs are going to defray the cost of the fundraising program.
Any contribution more than $100.00 must be received via check or written instrument.
A copy of each solicitation, receipt, response card and return contributions must be maintained by a PAC for a minimum of three (3) years for FEC purposes.
A PAC may receive up to $5,000 per calendar year from a legal contributor for its federal account.
The maximum contribution to a federal candidate from a multi-candidate PAC is $5,000 per election.
The maximum contribution to a federal candidate from a non-multi-candidate PAC is $1,000 per election.
To qualify as a multi-candidate committee, a non-connected PAC must receive contributions from at least 51 persons, be registered with the FEC for at least six months and contribute to at least five federal candidates.
A multi-candidate PAC may give $15,000 per year to a national party committee.
A non-multi-candidate PAC may give $20,000 per year to a national party committee.
The Republican and Democratic parties each have three national party committees. A non-connected PAC may also make independent expenditures or conduct issue advertising.
A non-connected PAC must file monthly or quarterly reports of its receipts, expenditures and contributions to the FEC.