Former President Joe Biden is struggling to secure the necessary funding for his presidential library, as highlighted by a recent report. His library foundation currently holds just $4 million, which stems from leftover funds from his 2021 inauguration. Despite the vision for a library anticipated to cost around $200 million, the foundation is projecting a significantly lower fundraising outcome.
Recent filings with the Internal Revenue Service reveal that Biden’s library foundation did not raise any funds in 2024, the last full year of his presidency. According to reports, Biden’s team expects to gather only slightly more than $11 million by the end of 2027. This figure falls far short of what is typically required for a presidential library, especially when compared to the extensive facilities built by previous presidents.
Biden’s aides have indicated that fundraising efforts have been lackluster, with some loyal Democratic donors expressing disappointment over not being contacted for contributions. There is also a sentiment among certain donors that they are unlikely to support the library due to disillusionment with Biden’s legacy or a preference to back initiatives opposing the current administration.
In an effort to jumpstart fundraising, Biden is set to hold his first public event for potential library donors on Monday. The library foundation has not disclosed its fundraising progress for 2025, but Biden’s team is reportedly ramping up outreach efforts. In a letter to donors, Biden encouraged them to engage with a private firm tasked with assessing the financial aspects of the proposed library.
The evolution of presidential libraries has seen them transform from modest facilities into expansive complexes. For instance, Barack Obama‘s ongoing presidential center in Chicago is expected to cost hundreds of millions and feature a basketball court and a vegetable garden, alongside a city library branch. In contrast, Biden’s vision for his library includes a location in his home state of Delaware, which has prompted discussions about potentially merging the library with existing Biden institutions at the University of Delaware, his alma mater.
The university has already raised over $20 million for a new building named “Biden Hall,” an extension of the Joseph R. Biden Jr. School of Public Policy and Administration. Combining the library with this new facility could provide a more cost-effective and modest solution than a standalone library, although both projects remain distinct for now. When asked about the possibility of a merger, a spokesperson for Biden declined to comment, stating that the team is still in an “exploratory and planning phase.”
The challenges facing Biden’s library initiative underscore the increasing financial demands of such projects, especially as former presidents are required to fund their own libraries. The upcoming months will be critical for Biden as he seeks to engage donors and secure the necessary resources for a project that embodies his legacy.
