Money does not guarantee a win on Election Day, but candidates rarely regret having more of it.

For years, the nonpartisan research group OpenSecrets has found that the top-spending candidate wins roughly nine of every 10 U.S. House races. Researchers caution that much of that edge reflects incumbency and lopsided districts, not cash alone, and PolitiFact has noted the advantage shrinks in state legislative races, where 80% of better-funded candidates won in 2008. Upsets happen.

Still, money pays for the yard signs, mailers, text messages and digital ads that make a candidate known. That matters a great deal in down-ballot contests like school board, where many voters know little about the names in front of them.

With that in mind, pre-election campaign finance reports filed with the Hamilton County Election Office offer a look at who is backing candidates for the Hamilton Southeastern Schools board ahead of Tuesday’s election.

The reports show two of Fishers’ most prominent officeholders putting money into the race. Fadness for Fishers, the campaign committee of Mayor Scott Fadness, gave $2,500 apiece to Greg Wright in District 1, Josh Perry in District 2 and David Turk in District 3. Todd Huston for State Rep, the committee of Indiana House Speaker Todd Huston of Fishers, gave $1,000 each to Wright and Perry.

That is $9,500 from the two committees, going to one candidate in each of the three contested districts. The money made up 61% of what Wright raised and 56% of Perry’s total. For Turk, the race’s top fundraiser, the mayor’s contribution was about 8% of his total.

None of their opponents who filed reports, Faiza Maqsood in District 1, Cyrus Keck in District 2 and Michelle Fullhart in District 3, reported money from either committee.

Turk led all candidates, reporting $31,156.48 in receipts, including a $10,000 loan he made to his own campaign. Maqsood was second with $19,113.55, including $7,000 from two political action committees: the Indiana Muslim PAC and I-PACE, the political arm of the Indiana State Teachers Association.

The rest of the field raised far less. Perry reported $6,209.86 and Wright $5,700. Fullhart, Stephanie Braden, who is unopposed in District 4, and Keck each paid for their campaigns entirely out of their own pockets, at $2,500, $1,934.90 and $1,131.82, respectively. Fullhart’s money came in the form of loans to her campaign.

Together, the seven 2026 reports on file show about $68,000 raised, with Turk and Maqsood accounting for nearly three-quarters of it.

Two candidates did not file reports: Anthony Wren, a Libertarian in District 1, and Ferras Abdalla, who has no party affiliation, in District 2. Under Indiana law, a school board candidate must form a campaign committee and file reports only after receiving more than $500 in contributions or spending more than $500 on the race.

The pre-election reports cover activity through Oct. 9 to Oct. 15, depending on the candidate, so money raised or spent in the campaign’s final weeks will show up in later filings.

Election Day is Tuesday, Nov. 3. Polls are open 6 a.m. to 6 p.m.

Here is a closer look at each candidate:

Each voter casts a ballot only in the district where she or he lives, so the reports are listed by district.

District 1

Greg Wright — Raised $5,700 | Spent $3,818.74 | Cash on hand $1,881.26

Wright’s report lists just three sources of money. Wright, a dentist, put in $2,200 of his own. Fadness for Fishers gave $2,500 and Todd Huston for State Rep gave $1,000. No other contributions were reported.

His largest expenses were $1,559.73 to WC Signs of Lapel for signs, $1,000 to Kyle Robbins of Carmel for website design and $973.70 to Boyd Branding, an Indianapolis screen printer. He also reimbursed himself $285.31 for campaign materials. Wright is running as a Republican.

Faiza Maqsood — Raised $19,113.55 | Spent $10,833.99 | Cash on hand $8,981.51

Maqsood’s committee, Friends of Faiza, raised the second-highest total in the race and the most of any candidate in District 1. Political action committees supplied $7,000 of it: $4,500 from the Indiana Muslim PAC and $2,500 from I-PACE, the teachers union PAC.

Twenty-six individuals gave itemized contributions totaling $10,400, most between $200 and $750. Most listed addresses outside Fishers, many in Carmel and Indianapolis. Another $1,612.55 came in smaller, un-itemized gifts. Maqsood herself contributed $600.

The biggest expense by far was $6,063.69 to Hoosier Jiffy Print of Marion for campaign mailers. She also spent $1,500 on video production, $1,361.12 on a large custom sign and $670.81 on door hangers. Maqsood is on the ballot with no party affiliation.

Anthony Wren (Libertarian) — No report filed

Wren did not file a pre-election report. School board candidates in Indiana do not have to file unless they raise or spend more than $500.

District 2

Cyrus Keck — Raised $1,131.82 | Spent $1,131.82 | Cash on hand $0

Keck’s campaign is entirely self-funded. His committee, Friends of Keck for HSE, reported a single contribution: $1,131.82 from Keck himself.

He spent every dollar: $654.82 for yard signs, $300 for T-shirts and $177 for text messages. Keck is on the ballot with no party affiliation.

Josh Perry — Raised $6,209.86 | Spent $4,348.61 | Cash on hand $1,861.25

The mayor and the speaker together supplied more than half of Perry’s money, with $2,500 from Fadness for Fishers and $1,000 from Todd Huston for State Rep.

Perry also invested $1,254.86 of his own, including $1,150 in cash and $104.86 worth of T-posts for signs. Seven other individuals gave a combined $1,335, led by a $500 contribution. A Fishers ice cream shop, GG Ice Cream, donated $120 in coupons.

Signs were Perry’s largest expense, with $2,514.01 paid to Embr Designs of Greenfield for banners and signs. Other spending included $523.37 for postcards, about $530 for T-shirts and $417.30 for postage. Perry is on the ballot with no party affiliation.

Ferras Abdalla — No report filed

Abdalla did not file a pre-election report. School board candidates in Indiana do not have to file unless they raise or spend more than $500.

District 3

David Turk — Raised $31,156.48 | Spent $18,197.76 | Cash on hand $12,958.72 | Debt $10,000

Turk, a real estate developer, raised the most money of any HSE board candidate. That total includes a $10,000 loan he made to his campaign, which the committee still owes him.

Not counting the loan, Turk raised $21,156.48. The largest single gift was $5,000 from Jeff Hartman, a real estate developer from Champaign, Ill. Fadness for Fishers gave $2,500. Several other donors gave $1,000 or more, and most of Turk’s itemized donors listed Fishers addresses.

Most of Turk’s spending went to one firm: Right Strategies LLC of Ankeny, Iowa, received $13,819.60. That included $8,000 for general consulting, paid in four $2,000 installments, plus yard signs, palm cards, T-shirts and text-message campaigns.

The committee also reimbursed Turk Advisors, Turk’s business, $2,922.26 for event catering and sign materials. It paid $1,000 to the Fishers Rotary for a golf outing sponsorship. Turk is running as a Republican.

Michelle Fullhart

Raised $2,500 | Spent $2,337.28 | Cash on hand $238.50 | Debt $5,000

Fullhart, a former two-term board member, is running a self-funded campaign. Her committee, Fullhart for HSE Schools, reported no outside contributions. All $2,500 in receipts were loans from Fullhart herself: $2,000 on Aug. 27 and $500 on Oct. 9. The committee started the year with $75.78 on hand.

The committee reports owing Fullhart $5,000. That figure includes the two 2026 loans plus $2,500 she loaned the committee in 2014 and 2018, none of which has been repaid.

Her largest expense was $1,404.85 to iPROMOTEu, a Chicago promotional products company. She also paid $779.56 to Metro Area Printing of Indianapolis, along with smaller amounts for buttons, Amazon purchases, county clerk fees and text messaging. Fullhart is on the ballot with no party affiliation.

District 4

Stephanie Braden (unopposed) — Raised $1,934.90 | Spent $1,934.90

Braden, a registered nurse, is running unopposed but still filed a report. Her campaign is entirely self-funded: every dollar came from Braden herself, reported as in-kind contributions to cover campaign costs.

Most of the money went to printing, including $1,358.90 to Sharp Printing Services of Fishers and $300 to another local printer. She also spent $276 on Facebook and Instagram advertising through Meta. Braden is running as an independent.

 

If you want to review the original reports yourself, they can be found at this link.