A recent report reveals that Joe Biden has struggled to raise adequate funds for his presidential library, with only $4 million currently available. This amount, originating from leftover funds from Biden’s 2021 inauguration, is significantly lower than the anticipated costs for a traditional presidential library, which Biden’s aides estimate could reach $200 million.
The findings, based on recent filings with the Internal Revenue Service, indicate that Biden’s library foundation had not received any contributions in 2024, the final year of his presidency. Furthermore, the foundation has not disclosed any fundraising figures for 2025. Reports suggest that Biden is expected to hold his first public event aimed at potential library donors on Monday.
Biden’s fundraising efforts appear to be modest, with estimates suggesting he may collect just over $11 million by the end of 2027. This shortfall has raised concerns among his supporters, as some loyal donors have reported they have not been approached for contributions. Others within the Democratic donor community have expressed reluctance to support Biden, citing a diminishing enthusiasm for his legacy or a shift in focus towards opposing initiatives.
In a bid to enhance fundraising, Biden has communicated with potential contributors via a letter sent in September, encouraging them to consult a private firm that has been enlisted to evaluate financial prospects for the future library.
Historically, former presidents have been responsible for financing their own libraries, which have evolved from simple buildings into large complexes featuring museums and various amenities. For instance, former President Barack Obama’s ongoing presidential center in Chicago is projected to cost several hundred million dollars, incorporating amenities like a basketball court and a vegetable garden. Donald Trump aims to raise nearly $1 billion for a library in downtown Miami. In contrast, Biden has expressed a desire for his library to be located in his home state of Delaware.
Biden’s preference for a Delaware site has led to discussions among his close associates about the possibility of integrating his presidential library with existing Biden institutions at the University of Delaware, his alma mater. The university has already raised over $20 million for a planned “Biden Hall,” an expansion of the Joseph R. Biden Jr. School of Public Policy and Administration.
Combining the library with the new hall could present a more cost-effective and less ambitious alternative compared to contemporary presidential libraries. Despite these discussions, current reports indicate that the two projects remain separate, with a Biden spokesperson refraining from commenting on the merger’s viability, stating that the planning is still in an “exploratory phase.”
As Biden seeks to ramp up his fundraising efforts, the challenges he faces may require a strategic reevaluation of his approach to garnering support for his presidential library. The outcome will likely reflect not only his fundraising capabilities but also the broader sentiments of potential donors regarding his presidency.
