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Independent tops spring secretary of state fundraising, Democrat amasses general election war chest

One hundred dollar bills in a pile.
Jericho
/
Wikimedia Commons
Indiana secretary of state candidates updated their campaign finance data in new reports Wednesday.

Former GOP Indianapolis Mayor Greg Ballard, now an independent candidate for Indiana secretary of state, led the field in springtime fundraising, according to second-quarter filings due to the state Wednesday — though Democrat Beau Bayh has far more cash on hand.

Ballard raised about $672,000 from April through June, and spent $746,000. He ended the period with just $26,000 on hand. He has since filed large contribution reports for an additional $40,000 in donations.

A significant chunk — almost $450,000 — came from Hoosiers for Competitive Elections, a political action committee formed last year to support independent candidates. Some of the larger donors to that entity are Anne Shane, John Mutz and Christina Ricks.

“This PAC is the equivalent of someone donating to the Republican or Democratic parties and then the parties giving money to a Republican or Democratic candidate,” said PAC chair Nathan Gotsch, who is also Ballard’s campaign manager. “Independents don’t have that built-in infrastructure, so we set up the PAC in advance of any independent candidates running this year to function in the same way.”

Overall, Ballard’s campaign paid $780,000 to the North Carolina-based firm Ballot Access Marketing for collecting the 37,000 valid petition signatures needed to get his name — and the new Lincoln Party — November election ballot. That represents more than 90% of the campaign’s nearly $850,000 in total spending since his March campaign launch.

Bayh, meanwhile, raised about $558,000 and spent $221,000 over the three-month reporting period — but ended June with $2.3 million on hand, more than any other competitor.

“Hoosiers are ready for a change, and we are building a winning campaign to provide that change in November,” Bayh said. “I’m grateful for the outpouring of support we’ve received, support that comes from all 92 counties, Republicans, Democrats, and Independents alike.”

Bayh has received criticism for taking big out-of-state contributions.

Large contribution reports filed this month add $13,000 to his haul.

Secretary of state candidates, from left: Independent Greg Ballard, Democrat Beau Bayh, Republican Max Engling and Libertarian Lauri Shillings.
Photos provided by campaigns
Secretary of state candidates, from left: Independent Greg Ballard, Democrat Beau Bayh, Republican Max Engling and Libertarian Lauri Shillings.

Republican Max Engling loaned his campaign almost $15,000 on its first day, May 20. Engling, a staffer to U.S. Sen. Jim Banks, entered the fray exactly a month before the GOP’s June convention. There, he beat out troubled incumbent Diego Morales.

He’s raised an additional $188,000 and spent nearly $53,000, leaving him with about $150,000 on hand. Engling has since filed large contribution reports totaling $22,000.

But he’s expected to take in significantly more money since becoming the GOP nominee.

“I’m honored by all the support we have received during the first two months of our campaign,” Engling. “We are focused on issues important to Hoosiers, and we look forward to continuing to raise funds as we push back against the Democrats’ attempts to undo common sense election integrity laws.”

The outgoing Morales, meanwhile, is sitting on a war chest of more than $1 million.

Libertarian Lauri Shillings lagged her competitors, bringing in just $11,000 over the three-month period. She spent $16,000 over that time, ending June with about $8,000 on hand.

Secretary of State Diego Morales poses for a selfie with a delegate to the Indiana Republican convention in Fort Wayne on Saturday, June 20, 2026.
Tom Davies
/
Indiana Capital Chronicle
Secretary of State Diego Morales poses for a selfie with a delegate to the Indiana Republican convention in Fort Wayne on Saturday, June 20, 2026.

The secretary of state’s office is one of five statewide offices designated in Indiana’s original constitution. The agency oversees elections, securities, auto dealer services and business services.

What is typically a low-interest, down-ballot contest has gained prominence in recent years as state leaders take cues from President Donald Trump’s administration and toughen voting laws.

The race also determines ballot access for political parties in Indiana.

Ballard, for instance, is running under a new Lincoln Party label in hopes of freeing future candidates of the signature requirement. If he nabs at least 2% of the vote, the nascent party could hold conventions to nominate them to the general election ballot.

At 10% or more, Ballard would unlock primary elections for future candidates — access also sought by the Libertarian Party of Indiana.

Indiana Capital Chronicle is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Indiana Capital Chronicle maintains editorial independence. Contact Editor Niki Kelly for questions: info@indianacapitalchronicle.com.

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