Former President Joe Biden’s proposed presidential library is facing a significant fundraising challenge, with tax documents showing that the Joe and Jill Biden Presidential Library Foundation had approximately $4 million in funds in 2024, according to a report by the Daily Mail. The foundation reportedly hopes to raise $11.3 million, a modest sum compared with the projected costs of other presidential library projects.

The financial picture raises questions about how the library will be funded and whether the foundation can attract enough support to move forward with a major construction project. Biden, whose presidency ended in January 2025, has faced sustained scrutiny over his age, public appearances and ability to carry out the demands of the presidency during his final years in office.

By comparison, the Barack Obama Presidential Center in Chicago has been reported to carry a price tag of approximately $1 billion. The Washington Examiner has also placed the estimated cost of a potential Donald Trump presidential library at roughly $1 billion, illustrating the substantial financial commitments associated with such projects.

Some Democratic donors have expressed doubts about Biden’s library plans and the legacy they would preserve. One donor told the Daily Mail that a traditional presidential library would never be built, adding, “Sadly, for him, that ship has sailed.”

Democratic donor John Morgan also said he would not contribute to the project.

“While I still have deep respect for the man I once knew, his legacy was tarnished by the decisions of those closest to him,” Morgan said.

Biden has expressed interest in establishing the library in his home state of Delaware, with Wilmington emerging as a possible location. A riverfront site and the University of Delaware have been discussed as potential options, but no final location has been confirmed. Biden’s representatives did not respond to the Daily Mail’s request for clarification on the site.

The former president’s presidential records are currently being maintained by the National Archives in Maryland, while the University of Delaware holds additional records from his years in the Senate. The proposed library would eventually provide a permanent home for materials documenting his political career and presidency.

Funding remains another unresolved issue. The Presidential Libraries Act of 1955 does not provide federal construction funding for a presidential library in the manner described in the report, but state and local funding could still become part of the discussion.

One proposal referenced between $48 million and $60 million in potential construction funding in Delaware. However, the Daily Mail reported that Wilmington’s mayoral office did not respond to a request to clarify whether that money was available for the project or specifically designated for Biden’s library.

The financial questions and expressions of donor skepticism leave the project’s eventual scale, location, and timeline uncertain. For Biden, whose administration faced persistent criticism over concerns about his age and leadership, the effort to establish a lasting presidential legacy could prove more complicated than anticipated.