A recent report indicates that Joe Biden is struggling to gather sufficient funds for his presidential library. The foundation managing the project currently has only $4 million available, primarily from leftover funds from Biden’s inauguration in 2021. This amount is significantly lower than the estimated $200 million needed to create a modern presidential library, which includes expansive facilities and museums.
According to filings with the Internal Revenue Service, Biden’s library foundation has not raised any money in 2024, the last year of his presidency. Although the foundation has not disclosed its fundraising progress for 2025, Biden’s team anticipates that they may collect a little over $11 million by the end of 2027. This projection raises concerns about the viability of the library’s construction if fundraising efforts do not intensify.
Biden is scheduled to hold his first public event aimed at potential library donors on Monday. However, some loyal supporters have expressed disappointment, stating they have not been approached for contributions. Others in the Democratic donor community have indicated they might not be willing to donate, citing dissatisfaction with Biden’s legacy or focusing on other political projects.
In a letter sent to donors in September, Biden urged them to engage with a private firm that has been hired to evaluate financial planning for the library. The former president is faced with the challenge of raising funds independently, as all former presidents are required to do for their libraries. These libraries have evolved from modest collections to grand complexes featuring various amenities. For example, Barack Obama‘s presidential center in Chicago is expected to cost hundreds of millions and will include unique features such as a basketball court and a vegetable garden.
Biden envisions his library in his home state of Delaware. Recent discussions among his team suggest that he might consider merging the library with existing Biden institutions at the University of Delaware, his alma mater. This potential merger could significantly reduce costs, given that the university has already raised more than $20 million for a new facility named “Biden Hall,” an extension of the Joseph R. Biden Jr. School of Public Policy and Administration.
While a merger might provide a more affordable solution, both projects are currently being treated as separate entities. A spokesperson for Biden declined to comment on the possibility of a merger, emphasizing that the team is still in an “exploratory and planning phase.”
As the fundraising efforts continue, the former president’s ability to establish a library that meets modern standards remains uncertain. Biden’s team faces the dual challenge of rekindling donor interest while navigating the complexities of public expectations surrounding presidential libraries.
