Overview
- Biden’s foundation told the IRS it expects to raise only about $11.3 million by the end of 2027, far short of aides’ $200 million aspiration.
- The group reported no new donations in 2024 and was seeded with $4 million from inauguration leftovers; 2025 totals were not disclosed, and the first donor reception is set for Monday in Washington hosted by Elizabeth Frawley Bagley.
- Several Democratic funders say they have not been contacted or are unwilling to give, with top bundler John Morgan publicly refusing to contribute.
- Because fundraising has lagged, discussions are underway about housing the project within existing Biden institutions at the University of Delaware, which has raised at least $22 million including $20 million in state support for a planned Biden Hall, though no merger has been announced.
- The pace trails other recent projects, with the Obama Foundation reporting about $1.5 billion raised and Trump aiming to collect more than roughly $950 million for a planned Miami library.