July 1 (Bloomberg) -- Illinois Senator Barack Obama raised at least $32.5 million in the last three months, outpacing New York Senator Hillary Clinton and breaking fund-raising records for a Democratic presidential candidate.

At least $31 million of Obama's total is for his primary bid, with the rest available only if he wins the Democratic nomination and enters the general election campaign. By comparison, Clinton raised about $27 million, including more than $21 million for the primaries, spokesman Blake Zeff said.

Obama, 45, is concentrating on building a large base of smaller donors who may keep giving rather than big contributors who give the maximum allowed in one check. So far, he has received money from more than 258,000 donors, his campaign said today. Clinton, 59, had about 60,000 donors in the first quarter; she hasn't released her latest figure.

``Obama's fundraising edge over Clinton helps compensate for her consistent 10-15 percent lead in the polls,'' said Thomas Mann, a scholar at Washington's Brookings Institution. ``The two of them occupy the top tier.''

Obama said in a statement that he has created ``the largest grassroots campaign in history for this stage of a presidential race.'' His total number of donors includes 154,000 contributors added in the second quarter alone.

Any individual may give a presidential candidate $2,300 for a primary campaign and another $2,300 for the general campaign. The general funds can only be used if the candidate wins his or her party's nomination; otherwise, the money must be returned.

Primary v General

Obama's first-quarter total of $25.8 million included only about $1 million in general campaign contributions. By contrast, Clinton took in almost $7 million in general campaign funds to reach her first-quarter total of $26.1 million.

Clinton's campaign first released her $27 million second- quarter estimate last week. All the candidates must file their full first-quarter reports with the Federal Election Commission by July 15.

Obama's take is the second-largest amount ever recorded for a presidential candidate between April and June of a non- election year. President George W. Bush, a Republican, took in $35.1 million during the second quarter of 2003, all for the primaries. Bush raised $29.6 million for the primaries during the same period four years earlier.

Clinton's husband, then-President Bill Clinton, raised $9.6 million for the primaries during the second quarter of 1995, the previous Democratic record.

Edwards, Richardson

Former North Carolina Senator John Edwards is running third in the Democratic money race, collecting an estimated $9 million in the second quarter after raising $14 million in the first three months. Almost all of the second-quarter donations were for the primary campaign, officials said.

Edwards now has more than 100,000 contributors, compared with about 40,000 in the first quarter, his campaign said. And donations of $50 or less made up 80 percent of the second- quarter total.

``We really wanted to expand our grassroots fundraising base,'' Jonathan Prince, Edwards's deputy campaign manager, told reporters on a conference call today. He said his goal is to raise at least $40 million before the Iowa caucuses, the first contest of the nomination race currently scheduled for January. ``We are quite comfortable with where we are,'' he said.

Richardson, Dodd

New Mexico Governor Bill Richardson took in about $7 million, all for the primary elections, his campaign said on June 29. That put Richardson in fourth place so far among the Democrats in the second quarter. He raised $6.2 million during the first quarter and has received money from about 38,000 donors altogether, campaign spokesman Pahl Shipley said.

Connecticut Senator Christopher Dodd brought in about $3.25 million in the quarter, said spokeswoman Christy Setzer. The campaign didn't release a breakdown of primary dollars or the number of donors. Unlike other candidates, Dodd did disclose the cash he had on hand at the end of the second quarter. It was about $6.5 million, Setzer said.

The major Republican candidates haven't yet given estimates for their second-quarter fundraising totals. Aides to former Massachusetts Governor Mitt Romney said last week that he won't match the $23.4 million he raised during the first quarter, which included a $2.4 million loan from the candidate. Romney also lent money to his campaign this quarter.

To contact the reporters on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net; Kristin Jensen in Washington at kjensen@bloomberg.net

Last Updated: July 1, 2007 19:26 EDT