Mahony corrects candidate financial report

WASHINGTON — Joshua Mahony, a Democratic candidate for U.S. Senate, filed his 2020 candidate financial disclosure form for the sixth time Friday, correcting mistakes and omissions made on his previous submissions.

Errors were also discovered on his 2018 candidate financial disclosure form for the U.S. House, he acknowledged last month. A corrected version was mailed Friday to the Office of the Clerk of the U.S. House of Representatives, campaign manager Keith Rosendahl said Monday.

That version should be available to the public later this week, Rosendahl added. The filing period for the U.S. Senate race begins at noon Monday.

Mahony, who received 32.6% of the vote against the 3rd Congressional District incumbent, U.S. Rep. Steve Womack, R-Rogers, in November, is trying to unseat U.S. Sen. Tom Cotton, a 42-year-old Republican from Dardanelle.

Mahony, 39, of Fayetteville, entered the U.S. Senate race in May.

Last month, after questions were asked about some of the numbers in the Senate filing, Mahony’s campaign sought outside help. This time, a law firm reviewed the documents before they were submitted, Rosendahl said.

The latest version of Mahony’s 2020 form includes additional information about assets belonging to Rhianon DeLeeuw, his wife and a vice president at Walmart.

She’s listed as having a Walmart 401(k) retirement fund worth between $250,001 and $500,000; a Merrill Lynch bank deposit valued at between $1,001 and $15,000; and Walmart corporate securities stock worth between $100,001 and $250,000.

DeLeeuw also has stock options valued at between $92,008 and $330,000, the form indicates. She received between $5,001 and $15,000 in stock-related dividends and interest and between $40,004 and $130,000 in stock-option-related capital gains, the disclosure states.

Mahony’s latest filing also lists positions he failed to report on his previous forms. It states he’s a former director and chairman of the Ozark Literacy Council in Fayetteville and a former director and president of the Arkansas Single Parent Scholarship Fund in Springdale.

Since April, he has also served as a director of the New Leaders Council, Arkansas chapter, the form states. The nonprofit, Washington-based organization “works to recruit, train and promote young progressive leaders,” its website states.

Some of the errors fixed involved misclassifications.

The new form shows Mahony had no “reportable earned income or non-investment income” between Jan. 1, 2018, and the date the report was filed.

On previous filings, Mahony had listed his mineral royalty payments from Lion Oil Trading and Lanxess Corp. as “earned income or non-investment income.”

Now listed as assets, they are valuated at between $1,001 and $15,000 each. Mahony received rent/royalties of between $1,001 and $2,500 from Lion Oil Trading. Rent/royalties from Lanxess Corp. were between $2,501 and $5,000.

On a previous report, Mahony listed a Mercedes belonging to his wife and him, worth between $15,001 and $50,000; his own Ford F-150 pickup, worth between $15,001 and $50,000; his own 1980 Fiat Spider, worth between $1,001 and $15,000; his own Rutan Long-EZ two-seat experimental aircraft, worth between $15,001 and $50,000; as well as his wife’s home, valued at between $100,001 and $250,000.

Friday’s version omits those items; federal law hadn’t required they be reported.

Mahony, who was once part-owner of one of his family’s El Dorado-based businesses, sold his partnership interest in March 2018 for $23,616.

He initially classified proceeds from the sale — along with $29,347 in company-related “partnership distributions” — as “earned and non-investment income.” In the latest filing, the company is classified as an “asset” that generated income of $52,963.

U.S. Senate candidates who raise or spend more than $5,000 are required to report information about their income and assets. Senators are required to disclose the information annually.

Mahony’s form was due at the end of May; he filed them in September after receiving and exceeding three 30-day extensions.

Cotton, first elected to the Senate in 2014, submitted his most recent U.S. Senate financial disclosure report on May 9.

The incumbent reported receiving a $250,000 advance on royalties from HarperCollins in New York City for his book, Sacred Duty: A Soldier’s Tour at Arlington National Cemetery.

Cotton and his wife, Anna Peckham Cotton, had a Bank of America joint checking account containing between $100,001 and $250,000, and a Northern Trust joint checking account contained somewhere between $1,001 and $15,000. They also shared a Bank of America savings account with a balance of between $100,000-$250,000.

Cotton also reported ownership of a Diamond Bank IRA. Its sole asset was a certificate of deposit worth $15,001 to $50,000.

The senator also reported having money in 27 funds, each valued at between $1,001 and $15,000; he had $1,000 or less in 11 other funds. None of the 38 funds generated annual income above $200.