President Trump’s political organization picked up the pace of its fundraising in the first quarter of 2024, though not enough to close the financial gap between him and President Biden and the Democrats.

Mr. Trump’s joint fundraising committee, the Trump Save America Joint Fundraising Committee, reported raising more than $65.7 million in the first quarter of 2024. The committee, which has served as Mr. Trump’s main political fundraising vehicle, transferred some $33.8 million to his campaign during the period, giving it a significant infusion of cash.

Another $21.8 million was spent on fundraising itself. After its other transfers and expenses, the committee ended the quarter with $3.8 million in cash on hand.

Mr. Trump and the Republican National Committee have also created a new committee, the Trump 47 Committee, which brought in $23 million in the first quarter.

The new filings exclude money brought in from a fundraiser hosted by billionaire John Paulson in early April, which the campaign announced had raised some $50 million.

While the GOP’s new fundraising efforts represent a windfall for the party and its presumptive nominee, the Democrats are outpacing them. With their combined presidential campaigns, joint fundraising committees, and the national party committees, Mr. Biden and the Democrats have some $192 million in cash on hand while Mr. Trump and the GOP have some $93 million based on the latest filings.

So far, Mr. Biden’s campaign has used its financial advantage to hire staff and spend on advertisements, quadrupling its spending in March to $29.2 million from $6.3 million in February.

A more updated picture of the party’s financial situation will come into focus Saturday, when Mr. Trump’s presidential campaign and the RNC are required to submit their reports for March. Mr. Biden’s campaign and the Democrats filed their March reports early.

New fundraising filings also showed Democrats enjoying a substantial cash advantage in the nation’s most closely watched Senate races in 2024. In what are seen as two of the best chances for Republicans to flip seats, Ohio and Montana, Senators Brown and Tester are out-fundraising their likely GOP opponents.

Mr. Brown ended the quarter with $16 million in cash, while businessman Bernie Moreno — who clinched the nomination in March — had $1.8 million in cash on hand.

In Montana, Mr. Tester ended the quarter with $12.7 million in cash on hand, while Tim Sheehy, a Navy Seal, ended the quarter with $1.9 million on hand.

In Arizona, Congressman Ruben Gallego ended the quarter with $9.6 million in cash on hand to TV news host Kari Lake’s $2.5 million, and in Nevada, Senator Rosen ended the quarter with $13.2 million to veteran Sam Brown’s $2.3 million. Arizona, Nevada, and Montana have not yet held their Senate primaries.

Democrats also rallied financially behind their new nominee in the Texas Senate race, where Congressman Collin Allred ended the quarter with $10.5 million in cash on hand to Senator Cruz’s $9.4 million.