|Rhode Island General Treasurer|
|January 4, 2011 - Present|
|Years in position||4|
|Predecessor||Frank T. Caprio (D)|
|Elections and appointments|
|First elected||November 2, 2010|
|Term limits||2 consecutive terms|
|High school||LaSalle Academy|
|J.D.||Yale Law School (1998)|
|Date of birth||May 17, 1971|
A January 2013 article in Governing named Raimondo as one of the top state Democratic officials to watch in 2013.
Raimondo was born in Smithfield, Rhode Island. Prior to assuming her position as Rhode Island's general treasurer, Raimondo co-founded and served as the general partner of Point Judith Capital, a venture capital firm headquartered in Rhode Island. She was also the senior vice president of fund development at Village Ventures, a venture capital firm that was particularly active with health care start-ups.
She is the vice-chair of the Board of Directors of Crossroads Rhode Island, an organization that serves the homeless population in the state, and is a trustee of the Women and Infants Hospital in Rhode Island.
- LaSalle Academy (High School)
- BA, Harvard University
- JD, Yale Law School
- PhD, Oxford University (Rhodes Scholar)
Rhode Island Treasurer (2011-present)
Financial condition of Rhode Island
In an extensive story in the New York Times in October 2011 that attracted national attention, Raimondo said that Rhode Island was "going broke". According to the story,
- "After decades of drift, denial and inaction, Rhode Island’s $14.8 billion pension system is in crisis. Ten cents of every state tax dollar now goes to retired public workers. Before long, Ms. Raimondo has been cautioning in whistle-stops here and across the state, that figure will climb perilously toward 20 cents. But the scary thing is that no one really knows. The Providence Journal recently tried to count all the municipal pension plans outside the state system and stopped at 155, conceding that it might have missed some. Even the Securities and Exchange Commission is asking questions, including the big one: Are these numbers for real?"
Raimondo said that the state faced two stark options: "We’re in the fight of our lives for the future of this state...Either the pension fund runs out of money or cities go bankrupt."
Raimondo toured throughout Rhode Island to explain her views to the public on the financial condition of the state. At a meeting of the Cranston Portuguese Club in September 2011, she was described by the New York Times as facing "...yet another angry audience." Several members of the audience claimed that Rhode Island was poised to break its faith with the state's retirees and that this is immoral. To this, Raimondo replied that Rhode Island could keep paying for basics such as schoolbooks, roadwork, care for the elderly and other traditional social support items or it could maintain the state's retirement system in the status quo. She said, "I would ask you, is it morally right to do nothing, and not provide services to the state’s most vulnerable citizens? Yes, sir, I think this is moral."
Raimondo was given credit for substantial reforms to the public employee pension system that the Rhode Island Legislature passed in November 2011. Earlier in the year, Raimondo ordered new estimates of the state's pension liability. Finding that the liability increased from $4.9 billion to $7.3 billion, Raimondo pushed the issue to the top of the agenda. Raimondo, along with Governor Lincoln Chafee (I), introduced a complicated plan to deal with the issue, which met with bipartisan support.
In her 2010 race for state treasurer, Raimondo won in a landslide, receiving more votes than any other candidate for any state office.
|Rhode Island General Treasurer, 2010|
|Republican||Kernan F. King||37.9%||122,860|
|Election Results via Rhode Island Board of Elections|
Comprehensive donor information for Raimondo is available dating back to 2010. Based on available campaign finance records, Raimondo raised a total of $1,787,098 during that time period. This information was last updated on May 11, 2013.
|Gina Raimondo's Campaign Contribution History|
|2012||Rhode Island Treasurer||$869,729|
|2010||Rhode Island Treasurer||$917,369|
|Grand Total Raised||$1,787,098|
Ballotpedia collects information on campaign donors for each year in which a candidate or incumbent is running for election. The following table offers a breakdown of Gina Raimondo's donors each year. Click [show] for more information.
|Gina Raimondo's Campaign Contributions|
Rhode Island Treasurer
|Total Raised by General Election Opponent||$235,597 (Rep)|
|Top 5 contributors||Rhode Island Democratic Party||$2,059|
|Margaret D Farrell|
John H Stookey
|Paul S Mandell|
Rho Susanna Beckwith
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Raimondo lives in Providence with her husband and two children.
Her father worked at the Bulova watch factory in Providence. This business closed when Raimondo was in sixth grade; when the plant closed, Raimondo's father retired early on a reduced pension, juggling part-time jobs to support the family.
- Raimondo's biography
- Official campaign website
- Project Vote Smart biographical profile
- Campaign contributions: 2012, 2010
- Rhode Island Treasury Department "Biography" Accessed November 3, 2012
- Governing, "State Democratic Officials to Watch in 2013," January 25, 2013
- New York Times, "The Little State With a Big Mess", October 22, 2011
- National Review, "Rhode Island’s Pension Reform, Plus Thoughts on Sustainable Victories," November 18, 2011
- Huffington Post, "Rhode Island Pension Reform Bill Heads To Legislative Vote Next Week," November 11, 2011
- The Associated Press, "RI Gov. Chafee open to running for 2nd term as Dem," December 14, 2012
- Public Policy Polling, "Chafee unpopular; Rhode Island voters support gay marriage," January 31, 2013
- Follow the Money, " Career fundraising for Gina Raimondo," accessed May 11, 2013
- Follow the Money.org
Frank T. Caprio (D)
|Rhode Island General Treasurer
| Succeeded by|