Former President Joe Biden is reportedly facing significant challenges in raising funds for his presidential library, having secured only a “small fraction” of the necessary amount, as detailed in a report by The New York Times. The library foundation, which is still in its early fundraising stages, has not received any new donations in 2024, relying instead on a leftover sum of $4 million from his inauguration in 2021.
According to public filings and interviews with donors, the Biden library foundation expects to raise just $11.3 million by the end of 2027. This projection is notably lower than the $200 million target set by Biden’s aides, raising concerns about the project’s viability. In contrast, former President Barack Obama has successfully raised approximately $1.5 billion for his presidential center in Chicago, while President Donald Trump has announced plans to raise over $950 million for his future library in Miami.
The fundraising difficulties have sparked discussions about possibly consolidating the Biden library with existing “Biden institutions” at the University of Delaware, his alma mater. This merger could enable the library to tap into funds already secured for a project known as “Biden Hall.”
Despite Biden’s extensive network of supporters, many of his loyal donors have reported not being approached for contributions. John Morgan, a prominent donor, expressed frustration with Biden’s staff, stating that he would not contribute “a penny” to the library. He contrasted his treatment with more positive experiences he had with former Presidents Bill Clinton and Obama, both of whom maintained better relations with their fundraising networks.
The Biden library foundation has stated that it postponed fundraising efforts to conduct “intensive research,” which includes visits to other presidential libraries. Biden has mentioned a desire for the library to be located in Delaware, envisioning a project that is smaller and less expensive than Obama’s center.
Currently, the Biden Hall and the library are two separate initiatives competing for the same donor pool. Many supporters believe that merging the two projects could enhance fundraising efforts and streamline resources.
When approached for comment, the University of Delaware clarified that it has not provided any funding to the Biden library foundation and declined to discuss the potential merger of the two projects. The Biden library foundation also did not respond to inquiries regarding this possible consolidation.
As Biden navigates these fundraising challenges, the future of his presidential library remains uncertain.
