The Philadelphia mayor's race is down to three people.

Terry Gillen, who was the first candidate to announce a run for mayor, announced Friday she is dropping out.

The former head of the Redevelopment Agency said that while she raised more than $225,000 from more than 500 donors in 2014, it just wasn't enough to stay competitive.

"The money was a big factor," Gillen said in an interview Friday. "It was a question of whether we would have the money to run the kind of campaign we wanted to run."

Gillen said she was waiting until Dec. 31, the fundraising deadline, to make a decision. She declined to say what her fundraising goal was to stay in the race.

"It's a tough fundraising environment," Gillen said. "Money is on the sidelines... people are waiting for field to be settled."

Gillen announced her candidacy on September 6 and was then joined in the race by former city solicitor Ken Trujillo, former District Attorney Lynne Abraham and state Sen. Anthony H. Williams. Former Common Pleas Court judge Nelson A. Diaz also said he will also be running for mayor; his formal announcement is scheduled for Jan. 15.

She doesn't know yet who she will support for mayor or what her next move will be.

"It was a tough decision but it was the right decision," she said.

In a letter to supporters, Gillen said:

"This decision was difficult because of the hundreds of supporters who have generously made donations, volunteered in the office and hosted house parties all over Philadelphia. But I feel that asking my supporters to donate more time, money and commitment cannot be justified under current circumstances."

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