Former US President Joe Biden is facing difficulties raising funds for his presidential library, with recent filings showing contributions far below early expectations and several prominent Democratic donors declining to support the project.
Presidential libraries in the United States are privately funded institutions that house records and memorabilia from an administration. Every president since Herbert Hoover has had one built, typically with donations from wealthy supporters. Former President Barack Obama’s library, currently under construction in Chicago, is projected to cost close to $1 billion, while George W. Bush’s library near Dallas cost about $300 million.
Biden’s team had hoped to raise between $200 million and $300 million for his library. However, according to recent IRS filings, fundraising has reached roughly $11 million so far, raising questions about whether the project can proceed as planned.
Some longtime Democratic donors have publicly said they are not inclined to contribute. John Morgan, a Florida-based personal injury attorney and major political donor, told NBC News he would not support the effort, expressing skepticism that a library would be built. Another donor, Susie Buell, said she generally does not give to presidential libraries.
Party officials and political observers suggest donor hesitation may be linked to frustration over Biden’s decision to seek a second term before ultimately stepping aside, a move some Democrats believe contributed to Donald Trump’s return to the White House. Biden ended his re-election bid last year and endorsed Vice President Kamala Harris as the Democratic nominee.
Democratic National Committee fundraising chair Chris Korge said he had warned Biden’s team that choosing not to run again earlier could have strengthened his legacy and allowed him to focus on building support for a library during the final years of his presidency.
Florida Democratic Party chair Nikki Fried echoed that sentiment, saying many donors are focused on current political priorities rather than funding a presidential archive. She said potential contributors want to see a clear plan for addressing economic and democratic challenges before committing money to a library project.
With traditional donors largely on the sidelines, the future of the Biden presidential library remains uncertain, as fundraising efforts continue amid broader debates within the Democratic Party about leadership, legacy and priorities.