Roy Cooper

Subject: Roy Cooper, Democratic nominee for U.S. Senate in North Carolina, 2026, former two term governor and former attorney general Compiled: October 25, 2026 for the On Point Politics watchdog database, onpointpolitics.us Data cutoff: September 30, 2026 FEC quarterly figures, as reported October 15 to 19, 2026. Next scheduled data drop: FEC pre general report covering through October 14, 2026, then the post general report due December 3, 2026.

Bottom line up front

Cooper is running an open seat race for the seat Thom Tillis is leaving, against former RNC chair Michael Whatley. His money is overwhelmingly small dollar and party routed, and he holds a large cash edge. Cooper for North Carolina reported $47.19 million in total receipts through September 30, 2026, including $27.15 million transferred from other authorized committees, and $12.48 million in cash, per NC Political News on October 19, 2026, ncpoliticalnews.com. WRAL independently reported $47.2 million raised and $12.5 million in cash, wral.com. Whatley had $916,000.

Three interests combine money with a decision he would vote on:

1. Small donors. The campaign says it raised more than $19.5 million in the third quarter and that more than 95 percent of donations were $100 or less, roycooper.com. This bloc wants cost of living relief, which is his whole message.
2. Party and leadership. The Cooper Victory Fund ties him to the DSCC and the North Carolina Democratic Party, and Senate Majority PAC reserved $31.4 million for him. The lever is Senate control itself.
3. Utilities and energy, as a lever more than a donor bloc. Cooper has spoken against Duke Energy's proposed North Carolina rate increases, and Republicans have revived a 2018 pipeline permit dispute against him. No utility money to Cooper was found in sources read.

Committee structure and treasurer

The principal committee is Cooper for North Carolina, FEC C00913566, per NC Political News. The joint fundraising committee is the Cooper Victory Fund. JStreetPAC's page describes it as a joint committee of Cooper for North Carolina, the DSCC and the North Carolina Democratic Party, with the first $7,000 per person going to Cooper, the next $10,000 to the state party, and the rest to DSCC general, headquarters and legal funds, jstreetpac.org. Its FEC ID, C00913574, comes from the FEC committee URL, which could not be read. The treasurer was not verified. Jeff Allen is the campaign manager.

Scale. Cooper had nearly $35 million in cumulative receipts and more than $20.7 million in cash at June 30, 2026, after raising more than $14.8 million in the second quarter, per Spectrum News on July 21, 2026, spectrumlocalnews.com. Disbursements through September 30 were $34.71 million.

Small donors

Documented. The campaign release of October 15, 2026 claims more than $19.5 million in the third quarter, gifts from all 100 counties, and more than 95 percent of donations at $100 or less. Axios, relayed by NC Political News, put the quarter at about $20 million across vehicles. These are campaign or vehicle wide figures and are not summed with the principal committee totals.

Inference: A donor base this broad gives no single donor measurable leverage over Cooper. The influence questions sit with the party committees and outside groups that move money through the joint committee and the air war.

Party and leadership

Documented. The Cooper Victory Fund routes large checks to the DSCC and the state party. Senate Majority PAC placed a $31.4 million reservation in North Carolina as of May 18, 2026, per Atlanta News First, atlantanewsfirst.com, and Spectrum reported $32 million committed in July. JStreetPAC lists Cooper as a priority race.

On the other side, the Senate Leadership Fund announced $71 million for Whatley on April 6, 2026, per WRAL, wral.com. By September 22, about $23.2 million was reserved, per AdImpact as relayed by Carolina Journal, carolinajournal.com, and by October 19 WRAL reported SLF had spent less than half its pledge and moved the rest to Iowa and Texas. Old North Action cut $6.5 million in October reservations and kept $14.5 million.

Inference: The Republican retreat lowers the outside money pointed at Cooper in the closing weeks. Hop two funders of SLF are listed in the New Hampshire Sununu file and include Elon Musk.

Utilities and energy

Documented. WRAL reported in February 2026 that Cooper no longer holds a stake in Strata Solar, the company that leased land from him, wral.com. Republican lawmakers alleged he pressured state regulators over the 2018 Atlantic Coast Pipeline permit, tying it to a $58 million fund and Strata Solar. Their report acknowledged no proof that Cooper personally profited, and nothing came of it. Whatley raised it again in 2026. Spectrum News reports Cooper has spoken out against Duke Energy's proposed rate increases, spectrumlocalnews.com.

Inference: In the Senate, Cooper's lever on utilities runs through confirmation of federal energy regulators and energy legislation, not state rate cases.

Own finances and disclosure history

WRAL reported a net worth range of $4.35 million to $9.8 million, mostly land in Nash and Wake counties and mutual funds and brokerage accounts. He has never held individual stocks as governor, his 2026 federal disclosures show none, and he says he will keep it that way. He supports a ban on congressional stock trading and challenged Whatley to sell his individual stocks.

Enforcement and controversies

• Pipeline permit, 2018. Contested. Republican lawmakers alleged improper pressure; their own report acknowledged no proof of personal profit. Cooper has denied wrongdoing in past coverage; no new response was found in sources read.
• Crime and the Zarutska case. Trump and Whatley said Cooper released Decarlos Brown early from prison. WRAL reports fact checkers including PolitiFact disproved that claim, wral.com. Cooper cited his 16 years as attorney general and said crime fell every year of his second term.
• Hurricane Helene. Trump blamed Cooper for a slow response. His campaign said he activated emergency resources and secured state and federal money, and pledged to fast-track federal aid.
• No FEC or ethics enforcement matter against Cooper was found in sources read. This is not a clean bill.

Deal table

Levers and calendar

Calendar. Election November 3, 2026. Post general FEC report December 3, 2026. New Congress sworn in January 2027, with the first appropriations and any Helene supplemental through 2027. Stock trading ban and energy nominations run through the 2027 and 2028 sessions.

What we could not verify

• The treasurer of Cooper for North Carolina and the Cooper Victory Fund, and the Victory Fund ID, which came only from the FEC URL, fec.gov.
• Named large donors and vendors; no itemized FEC data could be read because fec.gov is blocked.
• The split of the $27.15 million in transfers by committee.
• Bodies not read: nsjonline.com, which failed to load; carolinajournal.com ; washingtonsun.com ; axios.com ; semafor.com
• AdImpact figures, seen only as relayed by outlets.