Who Funds This Race

Jabo Waggoner has raised $415,195 this cycle.
Not one dollar in his top 15 donors came from a person.

Every number below is from the candidates' own public FCPA filings. You can verify each line.

The takeaway

Waggoner · cycle-to-date

$415,195
94 contributions · avg $4,417 · largest $20,000
Top 15 donors: 15 PACs / associations / parties. Zero individuals.

Stone · most recent filing

$2,070
6 reported line items · one named individual · rest are small-dollar rollups
Top donor: an individual Alabama voter, $500. Zero PAC money.
"The gap isn't just dollars. It's who's writing the checks."
Waggoner's top 15 donors, this cycle

Every row below is a Political Action Committee, an industry association, or a party committee. There are no individual voters on this list.

#DonorBased inTotal
1Forge PAC PACMontgomery, AL$45,750
2SV&B PAC PACMontgomery, AL$30,000
3Poarch Band of Creek Indians Tribal PACAtmore, AL$30,000
4Alabama Voice of Teachers for Education (A-VOTE) Labor PACMontgomery, AL$30,000
5Progress PAC PACMontgomery, AL$22,550
6Alabama Realtors PAC Industry PACMontgomery, AL$20,000
7FarmPAC Industry PACMontgomery, AL$17,795
8Trial Trust (TTRIAL) Trial-lawyers PACMontgomery, AL$17,500
9RoadPAC Industry PACMontgomery, AL$15,000
10Alabama Hospital Association Industry PACMontgomery, AL$15,000
11NewPAC PACMontgomery, AL$10,000
12Jefferson County Republican Party Party committeeVestavia Hills, AL$10,000
13Coach Safely Foundation FoundationBirmingham, AL$10,000
14CANPAC PACMontgomery, AL$10,000
15Alabama Power Employees State PAC Corporate PACBirmingham, AL$10,000

Full contribution ledger available in Waggoner's FCPA filings [1]. Period covered: January 1, 2025 through May 26, 2026.

The Stone side: what an under-$100 donor list looks like

Alabama's public campaign-finance rules require any single contribution of $100 or more to be reported by donor name, address, and occupation. Contributions below that threshold are reported only as an aggregated monthly total.

Spencer Stone's most recent FCPA filing carries one itemized individual donor and roughly $1,570 in aggregate small-dollar giving:

DateDonorAmount
Feb 27, 2026Individual voter, Alabama Individual$500
Jan 21, 2026Small-dollar donors, aggregated All under $100$1,360
Feb 27, 2026Small-dollar donors, aggregated All under $100$22.56
Mar 31, 2026Small-dollar donors, aggregated All under $100$47.95
Apr 30, 2026Small-dollar donors, aggregated All under $100$73.42
May 30, 2026Small-dollar donors, aggregated All under $100$66.30

Verified against Spencer Stone's FCPA filings [2]. There is no PAC line on any of these filings.

Why this matters

Nobody expects a challenger to match a 30-year incumbent's fundraising in raw dollars. That's not the story here.

The story is who writes the checks. Jabo Waggoner's top 15 checks come from the same address: Montgomery, Alabama. From the associations that lobby the Senate he sits on. From the PACs whose members' interests come before his committees.

Spencer Stone's top check is $500 from a single Alabama voter. Every other listed dollar came from people giving less than $100 apiece. When you serve those people, they are the constituency you answer to.

"I don't object to consultants. I object to a political system where consultants have more influence than constituents."

The same principle applies to donors.

How we counted

Where the numbers come from. Every contribution on this page is pulled from the Alabama Fair Campaign Practices Act (FCPA) public filing database at fcpa.alabamavotes.gov. Both candidates file monthly during the campaign period; each filing is a public record.

Waggoner data window: contributions dated January 1, 2025 through May 26, 2026 (the last filing period on record). Total reported contributions in that window: 94, summing to $415,195.

Stone data window: contributions dated January 21, 2026 through May 30, 2026 (Stone's most recent filing period). Six reported line items summing to $2,070.

What "top 15 donors are all PACs" means. Waggoner has 94 individual contribution records in the period. We ranked them by dollar amount and looked at the top 15. Every single one carries the name of a Political Action Committee, an industry association, or a political party committee. None is an individual voter.

What "$0 PAC money" means for Stone. Stone's filings during this window contain no line item that carries a PAC, association, or party name as the donor. Every named or aggregated donation is from individuals.

What this page does not claim. It does not claim Stone has raised more money than Waggoner (he hasn't). It does not claim every single one of Waggoner's 94 donors is a PAC (only that the top 15 are). It does not compare fundraising outside the FCPA-filed period (both campaigns have received contributions since the last filing that will appear in the next reporting cycle).

Errors. If any number here is wrong, email [email protected] with the correction and it will be updated here.

Sources
  1. Alabama Fair Campaign Practices Act (FCPA) public filings for James T. Waggoner / Waggoner for State Senate, 2025-01-01 through 2026-05-26. Full contribution ledger: fcpa.alabamavotes.gov. Donor names, amounts, and dates were extracted from itemized cash contribution schedules of Waggoner's monthly filings during that window.
  2. Alabama Fair Campaign Practices Act (FCPA) public filings for Spencer Stone / Stone for Alabama Senate, 2026-01-21 through 2026-05-30. Same source portal. The single itemized individual contribution and the five monthly non-itemized rollups are the complete set of reported contributions in the filed window.

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