A new financial disclosure report filed by Sen. Jim Risch, R-Idaho, shows his net worth fell about $800,000 in 2011, as Risch made numerous transactions from stocks to money market and fixed asset funds.
Risch’s net worth was reported in a range between $18.5 million and $87.4 million, largely based on the value of farm and ranch land in Ada and Canyon counties. Two 40-acre parcels were valued between $5 million and $25 million each; a 24-acre parcel was valued at $5 million to $25 million; and a 180-acre parcel was valued at between $1 million and $5 million.
Risch’s report was filed with the Senate Aug. 12 and received last week by the Idaho Secretary of State’s office. Reports are due May 15, but Risch was granted an extension by the Senate for 2011, as he was for 2008 and 2009.
The Center for Responsive Politics ranked the prominent lawyer as 16th richest member of Congress in 2010.
Personal financial disclosure reports require lawmakers and candidates to file annually, reporting assets in 12 broad categories, from less to $1,000 to over $50 million. Liabilities are reported in 11 categories, from $10,000 to over $50 million.
Risch’s liabilities ranged from a low of $565,000 to a high of $1.15 million. That was up from between $315,000 and $650,000 in 2010.
Risch is by far the wealthiest of Idaho’s all-Republican delegation.
Second District Rep. Mike Simpson, a former dentist, reported his 2011 net worth between $447,000 and $2,465,000.
Sen. Mike Crapo, a lawyer, reported his 2011 net worth between $191,000 and $1,692,000.
First District Rep. Raul Labrador, a lawyer, reported his 2011 net worth in the red, between minus $249,000 and minus $696,000. Labrador reported assets between $4,000 and $61,000. His liabilities were between $310,000 and $700,000. Labrador has a mortgage for his home in Eagle between $250,000 and $500,000, as well as student loans and lines of credit totaling between $45,000 and $150,000.
The Democratic challenger to Simpson, state Sen. Nicole LeFavour, reported no assets or liabilities. She had earned income of $23,594, not counting her legislative pay of $16,116.
The Democrat challenging Labrador, retired NFL player Jimmy Farris, says he has assets in his NFL annuity and NFL 401(k) worth $144,000. Farris erroneously reported those funds worth more than $50 million each when he filed in March. Alerted to the mistake earlier this month, Farris said he would amend his report to value the assets in a range totaling between $100,000 and $200,000.
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