Several Fortune 500 companies — including Bank of America, Duke Energy and Time Warner —are taking a pass on chipping in for the Democratic convention in Philadelphia or, with just 100 days to go until the event, won’t say whether they’ll participate. Target, which has had a presence at both parties’ conventions in the past, is joining other companies in skipping this summer’s events in Philadelphia and Cleveland.
None of the firms are publicly pointing to Trump as the reason they’re staying away. But the GOP’s more well-documented struggles appear to be taking a toll on Democrats, since many companies prefer to give to both conventions or neither in order to project an image of balance.
Democratic Party officials expect the convention to cost $84 million. The host committee says it has brought in roughly $40 million in pledges and contributions so far.