A.G. Gancarski
A review of the financial disclosure of Glo Smith, the GOP nominee in Florida’s Congressional District 5, shows there’s not much to hide … and not much in the way of personal assets to use if she wanted to self-finance to boost her campaign’s fairly anemic cash-on-hand.
Smith, who reported having $11,908 on hand as of the end of September, has spent the bulk of her campaign’s expenditures on operational costs: gas, food, tolls.
And her financial disclosure reveals why.
Essentially, Smith is a member of the middle class.
Between Smith and her spouse, the couple reports having made $68,520 in 2016.
Smith has made $15,000 from the Douglass Leadership Institute.
The institute is a nonprofit that seeks to “educate, equip, and empower faith-based leaders to embrace and apply biblical principles to life and in the marketplace.” Its most high-profile action thus far: being part of the opposition to the Houston Equal Rights Ordinance.
Smith’s husband will make $53,520 from his position with the state attorney’s office.
Liabilities reported seem to be restricted to student loans, with one valued between $10,001 and $15,000, and another between $15,001 and $50,000.
In terms of assets, there are retirement accounts.
A “spouse retirement fund” has between $100,001 and $250,000 in it; an FRS account has between $1,001 and $15,000.
Money has been withdrawn from Smith’s spouse’s 401K; between $5,001 to $15,000 has been withdrawn in 2016. In 2015, $15,001 to $50,000 was withdrawn.
Smith’s modest means are a contrast to the well-heeled Al Lawson, her Democratic opponent, who made over $200,000 last year, the bulk of it from commission sales related to health care companies.
This year, he made somewhat over $75,000 as of the May 19 filing.
Lawson also has a number of lobbying and consulting gigs that pay more than $5,000 a year.
Lawson consults for SGS Technologic in Jacksonville, Florida State University, Ballard Partners, and Citiworks.
He lobbies, meanwhile, for Excellence in Education, Charter Schools USA, Accolite (an Indian company that handles IT needs for healthcare companies), and the Leon and Gadsden County boards of county commissioners.
Lawson seems to be a careful investor, and his assets dwarf his liabilities.
He owed, as of May, under $15,000 on his mortgage, and had two lines of credit: one with Bank of America, between $15,001 and $50,000; and a credit card with a balance between $10,000 and $15,000.
