Former President Joe Biden is facing significant challenges in raising funds for his presidential library, having reportedly secured only a “small fraction” of the necessary financing. According to a report from the New York Times published on March 16, 2024, the Biden library foundation has not received new donations this year and is largely relying on $4 million leftover from his 2021 inauguration. The foundation’s current fundraising efforts have yet to gain momentum, with Biden’s team indicating that substantial fundraising initiatives are just beginning.
The report highlights that the foundation has projected total fundraising of only $11.3 million by the end of 2027, which falls significantly short of the ambitious $200 million target set by Biden’s aides. This pace is notably lower compared to other recent presidential libraries. For instance, former President Barack Obama‘s “presidential center” in Chicago has successfully raised approximately $1.5 billion, while President Donald Trump aims to collect over $950 million for his planned library in Miami.
Biden’s library foundation has faced scrutiny, particularly regarding its fundraising strategies. Reports suggest there are discussions about consolidating the library with existing “Biden institutions” at the University of Delaware. Such a merger could potentially enable access to funds already secured for a “Biden Hall” at the university, which has expressed interest in collaborating on the library’s future.
Despite Biden’s past support from loyal contributors, some, like John Morgan, a prominent Democratic donor, have expressed reluctance to support the library. Morgan stated that he would not contribute “a penny” due to dissatisfaction with Biden’s staff’s handling of donor relations. He contrasted this with his more positive experiences with former Presidents Bill Clinton and Obama, who maintained stronger ties with their supporters.
The library foundation has acknowledged a delay in fundraising efforts, citing the need for “intensive research” and visits to other presidential libraries. Biden has expressed a desire for the library to be located in Delaware, his home state, envisioning a smaller and more cost-effective project compared to Obama’s center. Nonetheless, the foundation remains far from its fundraising goal.
As it stands, the Biden Hall and the Biden Library are two distinct projects vying for the same donor pool. Many supporters hope that a merger could streamline efforts and enhance fundraising potential. The University of Delaware stated that no funds have been transferred to the Biden library foundation and declined to comment on the possibility of merging the two projects.
In response to inquiries from the New York Times, a spokeswoman for Biden noted that the foundation is still in an exploratory and planning phase. This situation underscores the challenges Biden faces in securing the necessary support to realize his vision for a presidential library that reflects his legacy.
