Obama’s inaugural raised $43 million

(AP) WASHINGTON - President Barack Obama’s inaugural committee raised more than $43 million for his second inauguration, with corporations chipping in a major portion.

Reports filed with the Federal Election Commission show the committee fell about $7 million short of its $50 million fundraising goal.

For his first inauguration, Obama raised $53 million in private money, turning away corporations and individual contributions exceeding $50,000. This time, Obama reversed that policy.

The biggest sum came from AT&T Inc., who gave $4.6 million. Microsoft Corp. donated $2.1 million. Boeing Co. and Chevron Corp. gave a million each.

The largest individual donation of $500,000 came from Timothy Gill, a technology entrepreneur and gay rights activist.

The government pays for official activities like the swearing-in, but donations fund the inaugural balls and other celebrations.