Serious presidential candidates are now likely to follow Obama's example and refuse public financing unless there are major changes in the system.
Even as Obama's aides prepare to close the books on his campaign effort, he is still raising money.
As recently as Wednesday, supporters received an e-mail solicitation on behalf of the Democratic National Committee. The pitch offered a "limited edition" Obama coffee mug, in exchange for contributions of $15 or more.
Over the course of the campaign, Obama assembled a donor database of nearly 4 million, including many who gave multiple times in smaller-dollar increments.
Much has been made of the importance of such small contributions to Obama's effort, but more traditional big donors also played a significant role.
Though Obama was less dependent on big donors who contributed more than $1,000 to his campaign than recent presidential nominees, they still provided nearly half the funding for his campaign.
Big donors contributed 47 percent of the funds for the Obama campaign versus 60 percent for George Bush in 2004 and 56 percent for John Kerry that same year, according to a recent analysis by the nonpartisan Campaign Finance Institute based on disclosure data through mid-October.
Through mid-October, the Chicago metropolitan area was Obama's third-most-important area for fundraising, contributing $23.8 million, according to the Center for Responsive Politics. Only New York and Washington areas sent him more.
