Joe Biden has insufficient funding for his presidential library, according to a recent report.

Former President Joe Biden has encountered significant challenges in fundraising for his presidential library, as reported by Media News Source. According to recent Internal Revenue Service filings, Biden’s library foundation has not secured any new donations in 2024, which coincides with the final year of his presidency.

At present, the foundation has only million remaining from the funds raised during Biden’s inauguration in 2021. This contrasts starkly with the estimated cost of establishing the library, projected at 0 million by Biden’s aides. In an effort to revitalize fundraising, Biden is scheduled to host his first public event aimed at potential library donors soon.

Despite these efforts, the foundation has remained tight-lipped regarding fundraising progress for 2025. Internal documents reviewed by Media News Source indicate that, if Biden’s team successfully ramped up their fundraising initiatives, they expect to accumulate slightly more than million by the end of 2027.

In addition to fundraising challenges, Biden has largely retreated from the public eye since stepping back from his official duties and is currently receiving treatment for prostate cancer. This limited visibility appears to have impacted his engagement with potential donors, with some long-time supporters indicating they have not been approached for contributions. Meanwhile, other Democratic donors have expressed hesitance to support Biden’s library, citing disappointment with his presidency or redirecting their philanthropic focus toward initiatives targeting Donald Trump.

Although Biden’s aides declined to make him available for comment, there are indications that fundraising efforts may be ramping up. Notably, Biden and his wife, Jill, have reached out to potential donors in a letter, asking them to schedule consultations with a financial firm to evaluate the library’s future needs.

The establishment and funding of presidential libraries are traditionally the responsibility of former presidents. These institutions have evolved from modest repositories of documents to expansive complexes that often feature museums and other amenities. For instance, former President Barack Obama’s presidential center in Chicago is projected to cost hundreds of millions of dollars and will include various community features like a basketball court and vegetable garden. In comparison, Donald Trump’s forthcoming library in downtown Miami aims to raise nearly billion.

Biden envisions his library to be situated in his home state of Delaware. However, recent reports suggest that the University of Pennsylvania, which has familial ties to Biden, has not shown interest in hosting the library in Philadelphia. This has led to discussions among Biden’s advisors regarding the potential merger of his library with existing Biden-related institutions at the University of Delaware, his alma mater.

The University, with support from the Delaware state government, has already raised over million for the upcoming “Biden Hall,” which is an extension of the Joseph R. Biden Jr. School of Public Policy and Administration. Combining the library with this new building could present a more economical option compared to other significant presidential libraries, although both initiatives are reportedly still in distinct planning phases.

As the fundraising landscape remains uncertain, Biden’s team continues to explore and develop plans for the library, though concrete details have yet to emerge.