Slightly more than half of the $209,000 Santa Clara candidates have raised is loans, most of it from the candidates themselves. Mike Wiltberger has financed his campaign entirely with his own money, while David Kertes and Kyle Madej have each lent themselves more than they’ve raised from donors. Karen Hardy put in $5,000 as a contribution plus a $5,000 loan. Together the candidates have spent $179,100.

Further, most campaigns don’t have enough cash on hand to cover what the candidates have lent them. There are no limits on what candidates can donate or lend to their own campaigns in Santa Clara. The only limitations are that campaigns can’t deposit contributions in the final 11 days before the election, and candidates’ loans to their campaigns must be repaid or written off by Dec. 31.

Every campaign must have a zero balance by Dec. 31. Leftover money can pay for a post-election event, be returned to donors or be donated to charity.

District 2 candidate Yvonne Inciarte is the only candidate who hasn’t made loans to her own campaign. Half of the candidates have received more than 50% of their donations from outside the city.

Note: Numbers are rounded.

Mayoral Candidates

Gary Ferraris has outspent his campaign income. He’s raised $8,000 in contributions plus a $3,000 loan to his campaign, totaling $11,000. Ferraris received $2,300 from PACs. He has spent $20,000, nearly twice what he has raised.

David Kertes has raised the most money, a total of $59,400. For the year, he has $6,600 in contributions and $52,800 in loans. His own loans total $11,500; an additional $41,300 in loans shows his committee as the lender. (If that money came from someone else, it could exceed the city’s contribution limit.)

PAC money is $2,300, and 70% of his donations are from within Santa Clara. He has spent $55,000, largely on mailers, signs and door hangers, and on advertising. [Disclosure: Kertes’s campaign has paid the Santa Clara Weekly $3,400 for advertising.]

Karen Hardy has raised $19,500 total, which includes both a $5,000 donation and a $5,000 loan to her campaign. She’s spent $10,700, largely on literature. Hardy has taken no donations from PACs, and 97% of her donations come from Santa Clara.

Kevin Park has raised $14,100 and lent his campaign $2,100, making a total of $16,200. His support comes mostly from outside the city: slightly over 80% of his donations come from elsewhere. Park has taken no donations from PACs and has spent only $4,200, nearly half of it on filing fees.

Kathy Watanabe has raised $34,000, with $20,500 in donations and $13,500 in loans to her campaign. She has spent $32,000, and political consulting accounts for $16,900 of that, more than half. She’s received $2,600 from PACs, and 54% of her donations are from outside the city.

Mike Wiltberger has run a self-funded campaign with $15,800 in loans to himself and no outside contributions. He has spent $15,300, largely on outdoor advertising.

Council Candidates: District 2

Yvonne Inciarte is the only candidate who hasn’t made any loans to her campaign, and she has the largest number of individual donors. She’s raised $19,200, $1,900 of it from PACs, and 60% of her donations are from outside Santa Clara. She has spent $18,500, and her largest category of spending is online advertising and web services.

Kimberley Williams has raised $10,000, including $4,000 in cash contributions, $2,400 in non-monetary contributions, $3,100 in loans from herself and a $500 loan from Zani Nesvacil. She’s received $800 from PACs, and 69% of her donations are from outside the city. She has spent $5,200, most of it on printed literature.

Council Candidates: District 3

Eric Crutchlow’s campaign has raised and spent the least money of any candidate. He’s raised $4,600, with $2,600 in donations and a $2,000 loan to his campaign. He has spent $3,800, mostly on ballot fees and IT services. He has taken no PAC money, and 67% of his donations are from Santa Clara.

Kyle Madej has raised $8,900 in contributions and lent his campaign $10,200, for $19,100 total. He has received the most PAC money of any candidate, $4,900, and 60% of his donations come from outside the city. He has spent $14,400, mostly on literature and signs.

Previous Follow the Money Articles:
Oct. 2026 Follow the Money Update: More PACs Join the Party
Follow the Money 2026: 49ers Independent Expenditures Lead Spending in City Election