A recent report reveals that former President Joe Biden is facing significant challenges in raising funds for his presidential library. According to Internal Revenue Service filings reviewed by the New York Times, the Biden Library Foundation has only $4 million available, a sum derived from leftover funds from his 2021 inauguration. The foundation has not reported any fundraising activity in 2024, the last year of Biden’s presidency.
The Biden administration’s vision for the library could cost as much as $200 million, but the foundation currently anticipates raising just over $11 million by the end of 2027. Despite this ambitious goal, Biden’s aides have indicated a slow start to fundraising efforts. The foundation did not disclose how much has been raised in 2025, but Biden is scheduled to hold his first public event for potential donors on Monday, aiming to invigorate interest in the project.
Concerns about donor engagement have arisen, with some of Biden’s longtime supporters reporting that they have not been approached for contributions. Others within the Democratic donor community expressed reluctance to contribute, citing dissatisfaction with Biden’s legacy or a shift in focus toward initiatives opposing his administration.
In a proactive move, Biden’s team has begun reaching out to donors through a letter sent in September, inviting them to collaborate with a private firm tasked with evaluating financials for the future library. This effort reflects a need to ramp up fundraising amidst an evolving landscape for presidential libraries, which have transformed from simple spaces into extensive complexes featuring museums and various amenities.
For comparison, former President Barack Obama is developing a presidential center in Chicago, projected to cost hundreds of millions and include features like a basketball court and vegetable garden. Meanwhile, former President Donald Trump has plans to raise nearly $1 billion for his library in downtown Miami.
While Biden has expressed a desire for his library to be located in his home state of Delaware, discussions among his close advisors suggest a potential merger of the library with existing Biden institutions at the University of Delaware. The university, Biden’s alma mater, has already secured over $20 million for a new facility called “Biden Hall,” which will extend the Joseph R. Biden Jr. School of Public Policy and Administration.
Merging the library with this project could significantly reduce costs and create a more modest facility compared to other modern presidential libraries. However, both the library and Biden Hall currently remain separate projects. When asked about the possibility of merging, a spokesperson for Biden stated that the team is still in an “exploratory and planning phase” and declined to provide further details.
As Biden’s fundraising efforts gain momentum, the future of his presidential library remains uncertain, highlighting the challenges faced by former presidents in establishing lasting legacies through dedicated institutions.
