While the Republican field is wide open with the GOP trying to figure out which of their number has the best chance to beat an incumbent candidate, Barack Obama’s re-election campaign is raising tens of millions of dollars to re-elect the president.

U.S. President Barack Obama’s re-election campaign appears to be well-organized, raking in more than $24 million in the final quarter of 2011.

In the past three months, the campaign has raised over than $42 million more.

Obama, who began his re-election bid in April of last year, had already brought in $86 million by the end of June.

Three months later, the president’s re-election campaign, together with the Democratic National Committee, had raised a combined $70 million.

According to campaign manager Jim Messina, 1.3 million people had responded with donations to the Obama re-election bid.

Messina said in a video sent to supporters that about 98 percent of the donations were in small amounts — about $250 or less — with the average donation totaling around $55.