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Victor Marx

Running in 2026: Governor (June 30) · Governor (November 3)

Personal Financial Disclosures

Income listed: up to $434,995; debts: up to $9,999 on their latest disclosure with entries: the top of each range they selected, added up (the form asks for ranges, not amounts; a range with no top counts at its figure).

StatementFiledWhat it lists
2025 Candidate
N/A Governor, State of Colorado		2025-10-085 income sources, 5 assets, 4 colorado property, 2 offices and directorships, 3 state-regulated businesses, 1 debts

Findings

Worth a look Late or missing

TRACER lists 2 late campaign finance report penalties this cycle

The candidate's committee has 2 late-filing penalties on reports due since January 1, 2025: Major Contributor Report (open, waiver requested); September 8, 2026 (open). 2 are still open (neither paid nor waived). A report filed late keeps the committee's money out of public view until it's in.

What to check
  • The penalties on the candidate's TRACER page: dates, amounts and waivers.
  • Whether a waiver was granted (the Secretary of State may waive for good cause).
Rule: Penalties for late campaign finance reports
“The Secretary of State imposes penalties of $50 per day for late filings, including weekends and holidays.”Colorado Campaign and Political Finance Manual (Secretary of State) ✓ quoted from the saved copy · how this rule works

Worth a look Late or missing

No financial disclosure found for their 2026 run for Governor

They filed a candidate affidavit for Governor on January 22, 2026, so a disclosure was due by February 1, 2026 (or one filed in the 90 days before the affidavit counts). We found none in TRACER's Document Search under their name from then on.

What to check
  • TRACER's Document Search under the candidate's name (we match filers by name: a different spelling or a married name could hide one).
  • Whether they withdrew before the deadline (a candidate who withdraws or is defeated doesn't file).
  • Any “Late PFD” penalty on their TRACER page.
Rule: A candidate with no financial disclosure found
“Candidates for the following offices must file a PFD within ten (10) days of filing a Candidate Affidavit”Form CPF-13 (Rev. 06/2026), instructions: Candidate Filing Requirements ✓ quoted from the saved copy · how this rule works

Campaign money: Governor

$4,257,950itemized, 55,189 contributions
$20,050from the candidate (incl. loans)
Where their outside money comes from

IndividualsBusinessesTrade, professional and issue groupsLabor unionsTribal governmentsPolitical partiesOther candidates and officeholders

Plus $20,096 of their own money and from their earlier campaigns' committees. Compare with all state candidates →

How it was spent: $4,104,741

Consultants and professional services$1,694,803
Fundraising Expenses$1,433,339
Miscellaneous$394,480
Advertising$241,640
Other$103,085
Bank Fees$96,296
Travel & Lodging$74,198
Food and meals$61,511
Office Equipment & Supplies$2,897
Telephone$1,257

Largest payees: HSP DIRECT $1,422,272 Fundraising Expenses · ACTIVE ENGAGEMENT $407,962 Fundraising Expenses · CAMPAIGN CATALYST $103,750 Consultants and professional services · GRAY SHADOWS PROTECTION $94,052 Other · OPTIK CONSULTING STRATEGIES $86,694 Consultants and professional services · THE HUDSON FIRM LLC $78,621 Consultants and professional services · BUDDY JERICHO $76,000 Consultants and professional services · WDR ASPEN $74,100 Consultants and professional services

Expenditures their committee reported to TRACER over the election cycle, by the type the committee gave; a consultant's payments to others (ads, mail) show under the consultant.

Top contributorsTypeTotal
VAUGHN MARX
Colorado		Candidate$20,050
NOT SHOOK LLC
Sheridan		Individual (Member of LLC: NOT SHOOK LLC)$11,086.25

$7,352.91
NANCY FOWLER
Retired · RETIRED · Littleton		Individual$2,900
LYNNE HARRISON
Retired · SELF · Thornton		Individual$2,660.25
KURT KALTENBACHER
Retired · RETIRED · Colorado Springs		Individual$2,491.02
MARY ANN MANN
Retired · RETIRED · Montgomery		Individual$2,410.36
STEVEN PRICE
Retired · RETIRED · Grand Junction		Individual$2,282.38
STEPHANIE NEFF
General Business · VM WEST LLC · Delta		Individual$2,274.51
LESTER MOORE
Retired · RETIRED · Highlands Ranch		Individual$2,126
JOHN ANDERSON
Retired · RETIRED · Fultonville		Individual$2,112.13
JAMES WEAVER
Retired · RETIRED · Woodland Park		Individual$2,106.15
GREG MIRANDA
Insurance Industry · SELF · Peyton		Individual$2,000
ROBERT SAUER
Retired · RETIRED · Grand Junction		Individual$2,000
KERRY HARRIS
Retired · RETIRED · Paonia		Individual$1,970.51

Committees: VICTOR MARX FOR GOVERNOR. From the Secretary of State's TRACER bulk files.

Outside spending for and against them

$175,682spent supporting them
$858,913spent opposing them
SpenderAmount
MOUNTAIN PROGRESS
general · notices in TRACER		against$702,563
COLORADO STRONG
primary · notices in TRACER		against$151,250
COLORADO REPUBLICAN PARTY IEC
general · notices in TRACER		for$95,455
FREEDOM IEC
primary · notices in TRACER		for$80,000
REVIVE 150
primary · notices in TRACER		against$5,100
ROCKY MOUNTAIN REALITY
general · notices in TRACER		for$227

Independent expenditures from the 48-hour notices, 2026. The candidate doesn't control them. One that names several candidates is split evenly among them.

Their donors also gave to

Their largest donors who also funded other 2026 state candidates.

DonorTo themCandidates fundedBy party
FREMONT COUNTY REPUBLICAN CENTRAL COMMITTEE
Party committee · Canon City		$1,5007
CHAFFEE COUNTY REPUBLICAN CENTRAL COMMITTEE
Party committee · Buena Vista		$1,5006
STEPHEN FULLMER
Retired, RETIRED · Parker		$1,4992
PAUL LUERS
Retired, RETIRED · Pueblo		$1,4806
LAURA TONNER
Consultant, FULCRUM GROUP · Castle Rock		$1,4763
CHRISTINA ADAMS
General Business, JCSSJ, LLC · Cordillera		$1,4612
NANCY MILLER
Healthcare/Medical, COMMONSPIRIT · Pueblo West		$1,4555
GREGORY CARLSON
Teacher/Education, PUEBLO COMMUNITY COLLEGE · Florence		$1,4502
DAVID SCHOTT
Teacher/Education, UNIVERSITY OF DENVER · Castle Rock		$1,4502
GAYE RIBBLE
Real Estate Professional, SELF · Fort Collins		$1,4502
JULIANNA DIXON
General Business, MY KIDS · Englewood		$1,4502
RALPH NAGEL
Retired, RETIRED · Denver		$1,4503
JOHN KIM
Real Estate Professional, SELF EMPLOYED · Littleton		$1,4502
LINDA VECCHIARELLI
Retired, RETIRED · Commerce City		$1,4502
KEN PETERSON
Retired, RETIRED · Peyton		$1,4502