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Early Money Is Like Yeast, otherwise known as EMILY's List, was founded in 1985 by Ellen Malcolm to fund pro-choice Democratic women candidates for office. Organized as a political action committee (PAC), EMILY's List's primary goal is early funding of women candidates. From the 1990 election cycle to the 1992 election cycle, contributions grew from $770,000 to $6 million, helping support and elect EMILY's List candidates in the 1992 “Year of the Woman.” In 2008, the PAC distributed $35 million to women candidates. Although EMILY's List's activities remain focused on PAC funding, it also engages in other interest group activities that include increasing the number of women interested in pursuing public office and mobilizing women voters.

The “Year of the Woman” represented significant progress for female representation, with 24 Congresswomen and five Senators elected. In this election cycle, favorable conditions led to EMILY's List's membership growing from 3,500 to 24,000 members and also led to the group receiving contributions of over $6 million. EMILY's List was the largest PAC during the 1992 campaign, contributing $4.6 million to 55 candidates. The PAC's support in 1992 helped elect Congresswomen Rosa DeLauro, who was then executive director of EMILY's List and future pay equity advocate.

EMILY's List engages in a variety of activities aside from distributing funds to candidates. The group's Political Opportunity Program focuses on training potential candidates and their staffs in the most effective campaign strategies. To explore different campaign strategies, EMILY's List uses its own Women's Monitor surveys and conducts its own research. Through its Campaign Corps training programs it encourages recent female college graduates to run for political office. Further, EMILY's List focuses on mobilizing the women's vote and keeping women informed through its WOMEN VOTE! Program. The Democratic Party recognized the influence of the PAC in mobilizing women voters in 1996, when the two organizations teamed up to research the gender gap.

The main focus for EMILY's List remains its role as a PAC. The PAC funds candidates using “bundling” and traditional straight donations. Bundling involves individual donors writing checks to specific candidates, which EMILY's List collects and distributes. The group also raises funds through general donations to the EMILY's List PAC. EMILY's List fought against limitations on donations to nonprofit PACs citing regulations, citing them as limiting free speech. In September 2009, EMILY's List's free speech appeal was successful-the Circuit Court of Appeals for the District of Columbia, in EMILY's List v. FEC, struck down the $5,000 limitation on contributions to nonprofit PACs. In 2009, EMILY's List entered new territory when it, for the first time, became extensively involved in the presidential race by endorsing Senator Hilary Rodham Clinton. Leading up to the Iowa Caucus, EMILY's List made $500,000 in independent expenditures to support the campaign. EMILY's List's actions have not always been seen positively-the PAC has been criticized for not supporting both male and female candidates who support a woman's right to choose.

The model produced by Ellen Malcolm and EMILY's List has been exported throughout the world. Groups like EMILY's List Australia aim to get women elected to higher office, believing that women's representation in Parliament is critical to increasing the civil rights of women internationally. Similar to EMILY's List in the United States, the group also tries to support pro-choice candidates. These groups are emerging not only in Australia but also in other countries like the United Kingdom.

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