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People › Statewide

Fiona S Ma

Treasurer

Running in 2026: Lieutenant Governor (June 2) “State Treasurer/CPA” · Lieutenant Governor (November 3) “State Treasurer/CPA”

Form 700 statements

StatementFiledWhat it lists
2025 Annual
Treasurer
2026-03-0240 investments, 2 businesses & trusts, 1 real property, 4 gifts, 2 travel
2024 Annual
Treasurer
2025-03-0355 investments, 1 businesses & trusts, 1 real property, 3 gifts, 2 travel

Findings

Worth a look Lobbying · the statement

Lobbying reports name $88.32 in gifts to them in 2025 from 1 source this statement doesn't list

Lobbyist employers' reports to the Secretary of State (Cal-Access) list activity expenses that benefited them in 2025, $50 or more from each of these sources, none named among the statement's gifts or travel: California Professional Firefighters $88.32 (personalized cutting board).

What to check
  • Whether they attended or accepted it: the report is the lobbyist employer's account.
  • What Schedule D doesn't require (Form 700 instructions): gifts returned within 30 days; free admission and food at an event where they made a speech, from its organizer; up to two tickets to a campaign or 501(c)(3) fundraiser from the organization holding it; informational material; plaques worth less than $250.
  • Whether it's on the statement under another name.
  • That the report's beneficiary is this person (matched by name and office).
California Professional Firefighters $88.32
  • 2025-05-12 Personalized Cutting Board at Firefighters Print & Design $88.32 (of $794.96 for everyone it lists) · lobbyist employer report
Rule: Lobbying gifts not on the statement
“A gift is reportable if its fair market value is $50 or more. In addition, multiple gifts totaling $50 or more received during the reporting period from a single source must be reported.”Form 700 (2025/2026), Instructions – Schedule D ✓ quoted from the saved copy · how this rule works

Worth a look Lobbying · the statement

Lobbying reports name $84.67 in gifts to them in 2024 from 1 source this statement doesn't list

Lobbyist employers' reports to the Secretary of State (Cal-Access) list activity expenses that benefited them in 2024, $50 or more from each of these sources, none named among the statement's gifts or travel: Glydways, Inc. $84.67 (dinner).

What to check
  • Whether they attended or accepted it: the report is the lobbyist employer's account.
  • What Schedule D doesn't require (Form 700 instructions): gifts returned within 30 days; free admission and food at an event where they made a speech, from its organizer; up to two tickets to a campaign or 501(c)(3) fundraiser from the organization holding it; informational material; plaques worth less than $250.
  • Whether it's on the statement under another name.
  • That the report's beneficiary is this person (matched by name and office).
Glydways, Inc. $84.67
Rule: Lobbying gifts not on the statement
“A gift is reportable if its fair market value is $50 or more. In addition, multiple gifts totaling $50 or more received during the reporting period from a single source must be reported.”Form 700 (2025/2026), Instructions – Schedule D ✓ quoted from the saved copy · how this rule works

Context Travel payments · the statement

Lists $9,306.53 in travel paid by others (2 payments)

Largest: Vancouver & Victoria Canada ($5,881.74, CA Foundation on the Environment & the Economy), Japan ($3,424.79, CalAsian Foundation). 2 of 2 are listed as gifts.

What to check
  • Who paid, and for what: speeches, conferences and nonprofit-paid travel are treated differently (Schedule E instructions).
  • Whether the paying organizations have business before the office.

Travel: CA Foundation on the Environment & the Economy $5,882 p.13Travel: CalAsian Foundation $3,425 p.13

Rule: Travel paid by others
“Travel payments from third parties (not your employer).”Form 700 (2025/2026), Types of reportable interests ✓ quoted from the saved copy · how this rule works

Context Travel payments · the statement

Lists $12,348.34 in travel paid by others (2 payments)

Largest: Vietnam ($10,113.14, CA Foundation on the Environment & the Economy), Latvia & Riga ($2,235.20, CA State Friendship Committee). 2 of 2 are listed as gifts.

What to check
  • Who paid, and for what: speeches, conferences and nonprofit-paid travel are treated differently (Schedule E instructions).
  • Whether the paying organizations have business before the office.

Travel: CA Foundation on the Environment & the Economy $10,113 p.16Travel: CA State Friendship Committee $2,235 p.16

Rule: Travel paid by others
“Travel payments from third parties (not your employer).”Form 700 (2025/2026), Types of reportable interests ✓ quoted from the saved copy · how this rule works

Behested payments

What Fiona S Ma reported others paying at their request (FPPC Form 803) since 2024: $58,000 in 11 payments to 11 recipients. Officials report a source that pays $5,000 or more in a year; there is no limit.

Largest recipients: Regents of the Univ. of CA $15,000 · First Responder Support Network $10,000 · United Seniors of Oakland and Alameda County $10,000 · Annastacia Ausby $3,000 · Anette Severson $3,000

Paid byTo, forAmount
Slashop, Inc.
New York
Regents of the Univ. of CA · UC Davis School of Veterinary Medicine, sponsorship of 75th anniversary gala.
Charitable · 2024-06-17
$15,000
Lisa Gao
Moraga
First Responder Support Network · West coast post-trauma retreat for first responders
Charitable · 2025-03-07
$10,000
Welcome Home Castro Valley, LLC
Castro Valley
United Seniors of Oakland and Alameda County · 22nd Annual Healthy Living Festival
Charitable · 2025-07-23
$10,000
Women in California Leadership
Sacramento
Annastacia Ausby · Minerva Scholarship
Charitable · 2024-07-29
$3,000
Women in California Leadership
Sacramento
Anette Severson · Minerva Scholarship
Charitable · 2024-07-29
$3,000
Women in California Leadership
Sacramento
Ivonne Gonzalez · Minerva Scholarship
Charitable · 2025-08-04
$3,000
Women in California Leadership
Sacramento
Isabel Zamary · Minerva Scholarship
Charitable · 2025-08-04
$3,000
Women in California Leadership
Sacramento
Victoria Lopez Olvera · Minerva Scholarship recipient
Charitable · 2026-08-04
$3,000
Women in California Leadership
Sacramento
Serah Fayad · Minerva Scholarship recipient
Charitable · 2026-08-04
$3,000
Women in California Leadership
Sacramento
My Sister's House · Donation to a 501c3
Charitable · 2024-11-04
$2,500
Women in California Leadership
Sacramento
Women In Politics Musuem · Donation to 501c3
Charitable · 2024-11-18
$2,500

From the FPPC's Form 803 data (search and download). “Campaign donor” links to a donor who gave to two or more 2026 state candidates.

Reported by lobbying interests

What lobbyist employers, lobbyists and lobbying firms told the Secretary of State they spent on Fiona S Ma since 2024: $995 across 5 items from 5 sources. Each amount is their share as the report gives it. Matched by name and office.

Reported byWhat, whenTo them
CALIFORNIA FARM BUREAU FEDERATION
$608 in all
Food, beverage, and trophy belt buckle and banner received at the California Farm Bureau F at Sheraton Grand Sacramento Hotel · 2026-03-18 · report$608.10
PERSONAL INSURANCE FEDERATION OF CALIFORNIA
$178 in all
GOV. 89506 SUBSISTENCE IN CONNECTION WITH SPEECH at WAYFARE TAVERN · 2024-10-02 · report$178.46
California Professional Firefighters
$88 in all
Personalized Cutting Board at Firefighters Print & Design · 2025-05-12 · report$88.32
Glydways, Inc.
$85 in all
Dinner at Bombay Palace · 2024-10-04 · report$84.67
CALIFORNIA ATTRACTIONS AND PARKS ASSOCIATION
$35 in all
FOOD AND BEVERAGE at CAFETERIA 15L · 2026-02-02 · report$35.41

Reports on Cal-Access may ask you to pass a security check first.

Campaign money: Lieutenant Governor

$3,488,891itemized, 2,080 contributions
$105from the candidate (incl. loans)

Plus $138,970 in 46 contributions reported within 24 hours since their latest full report, which ends 2026-09-19: not yet in the totals above (they'll move into them, not be added twice, when the next full report comes in).

CA State Council of Laborers PAC $9,800 2026-10-07 · Duke Cooke $9,800 2026-10-03 · Jennifer Leeds $9,800 2026-09-28 · San Jose Water $8,800 2026-10-09 · California Democratic Party -- State $7,975 2026-10-01 · 1804 Euclid LLC(Ben He) $6,000 2026-09-25 · Naka Restaurant Inc dba Mayflower Restaurant $6,000 2026-09-25 · American Association of Chinese Medicine & Acupuncture (AACMA) $5,995 2026-09-29 · Sycuan Band of the Kumeyaay Nation $5,600 2026-09-25 · Zaeem Ali $5,200 2026-09-27

Where their outside money comes from

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

Plus $105 of their own money and from their earlier campaigns' committees. Compare with all state candidates →

How it was spent: $6,044,459

TV and cable$3,271,918
Consultants$648,531
Legal and accounting$556,877
Other (described)$519,919
Staff salaries$218,310
Contributions to others$201,649
Office expenses$196,447
Civic donations$79,233
Fundraising events$77,392
Literature and mailings$74,771

Largest payees: Polaris Campaigns, Inc. $3,090,454 TV and cable · Kegeyan-Pappas Consulting, LLC $435,160 Consultants · CA Bank & Trust Bankcard Center $336,873 Other (described) · James R. Santos Bookkeeping Services $235,869 Legal and accounting · Paychex of New York LLC - Direct Deposit $218,310 Staff salaries · Bearstar Strategies Inc. $145,054 TV and cable · WS International Group, Inc. $135,914 Fundraising events · Larson LLP $92,022 Legal and accounting

Payments on their full reports (Form 460 Schedule E) covering 2025–2026, by the FPPC's expense codes; a consultant's payments to others (ads, mail) show under the consultant.

Top contributorsTypeTotal
Bearstar Strategies Inc.
San Francisco
Business/other$72,527
Northern CA District Council of Laborers PAC SCC
Pleasanton
Small contributor cmte$39,200
United Domestic Workers of America Action Fund-SCC
Sacramento
Small contributor cmte$29,600
Southern CA Pipe Trades District Council #16
Los Angeles
Small contributor cmte$28,700
Maqsood Ali
Civil Engineer · TSI Engineering Inc. · Loomis
Person$22,620
Operating Engineers 3 Statewide PAC SCC
Concord
Small contributor cmte$19,700
Black Eagle INC
Danville
Business/other$19,600
Derrick Brown
Fire Fighter · Contra Costa County · Santa Rosa
Person$19,600
CA State Council of Laborers PAC
Sacramento
Small contributor cmte$19,600
CA State Council of Service Employees
Sacramento
Small contributor cmte$19,600
CA Teachers Assn.--Assn. For Better Citizenship
Sacramento
Small contributor cmte$19,600
Corn Next Holdings, Inc.
Irvine
Business/other$19,600
GLCC Pharm
Ontario
Business/other$19,600
ISEGSTAR LLC(Calia Lin)
Irvine
Business/other$19,600
Hong Kinsey
CEO · Silk Home, Inc. · Armonk
Person$19,600

Committees: Fiona Ma Legal Defense Fund, Fiona Ma for Assembly, #1238185, Re-Elect Fiona Ma, Fiona Ma for Assembly 2010, CALIFORNIA RISING BALLOT MEASURE COMMITTEE - FIONA MA, Fiona Ma for Senate 2014, Fiona Ma for State Board of Equalization 2014, Assemblymember Fiona Ma Officeholder Committee 2010-2012, Re-Elect Fiona Ma for State Treasurer 2022, FIONA MA FOR LIEUTENANT GOVERNOR 2026, Re Elect Fiona Ma for State Board of Equalization 2018, Fiona Ma for State Treasurer 2018, Fiona Ma State Treasurer Officeholder Account Committee 2022. From the Secretary of State's Cal-Access export; reports covering 2025–2026.

Outside spending for and against them

$110,019spent supporting them
$752,819spent opposing them
SpenderAmount
TAXPAYERS AGAINST SEXUAL HARASSMENT BY GOVERNMENT OFFICIALS - NO ON FIONA MA FOR LIEUTENANT GOVERNOR 2026
primary · latest report
against$752,819
GOLDEN STATE LEADERSHIP FUND PAC
primary · latest report
for$58,923
Asian Americans for Representation
primary · latest report
for$38,795
San Diego Labor Coalition, Sponsored by Laborers' International Union of North America Local 89
primary · latest report
for$6,710
United Domestic Workers of America Independent Expenditure PAC
primary · latest report
for$2,794
GrowSF Voter Guide
general · latest report
for$2,647
DEMOCRATIC PARTY OF ORANGE COUNTY
general · latest report
for$150

Independent expenditures reported within 24 hours (Form 496), from 2025. The candidate doesn't control them.

Their donors also gave to

Their largest donors who also funded other 2026 state candidates.

DonorTo themCandidates fundedBy party
United Domestic Workers of America Action Fund-SCC
Labor union · Sacramento
$29,6003
Southern CA Pipe Trades District Council #16
Group or PAC · Los Angeles
$28,70010
Maqsood Ali
Civil Engineer, TSI Engineering Inc. · Loomis
$22,6202
Operating Engineers 3 Statewide PAC SCC
Labor union · Concord
$19,7002
Vicki Rollins
Registered Nurse, Vicki Rollins · Los Angeles
$19,6003
State Building and Construction Trades Council of California PAC
Labor union · Sacramento
$19,60051
California State Council of Laborers PAC
Labor union · Sacramento
$19,60048
Spencer Tien
President, Condor Outdoor Products · Baldwin Park
$19,6003
Keliang Zhu
Attorney, DeHeng Law Offices · Pleasanton
$19,6006
CA State Council of Service Employees
Labor union · Sacramento · registered lobbyist employer
$19,60012
California Teachers Association/Association for Better Citizenship
Labor union · Burlingame
$19,60043
Professional Engineers in California Government PECG-PAC
Labor union · Sacramento
$17,60013
California Federation of Teachers COPE
Labor union · Sacramento
$15,00052
Rex Parris
Attorney, Parris Law Firm · Lancaster
$14,8002
California Professional Firefighters Political Action Committee
Labor union · Sacramento
$13,29969