With support from the University of Richmond

History News Network

History News Network puts current events into historical perspective. Subscribe to our newsletter for new perspectives on the ways history continues to resonate in the present. Explore our archive of thousands of original op-eds and curated stories from around the web. Join us to learn more about the past, now.

Obama Foundation's daunting task: Raising money for his library

After turning over the White House next month to a successor who aims to scuttle some of his key initiatives, President Barack Obama and his foundation will embark on an epic endeavor — racing for mega-donors who can rocket-launch their fund drive for a presidential library and museum on Chicago's South Side.

The scale is daunting: While Obama's library planners decline to provide a cost estimate, the George W. Bush library and endowment broke records at more than $500 million, the latest example of skyrocketing costs. Adding to the pressure, the Obama project is the first to be built under sharply increased federal requirements for a sustaining endowment. Obama chose to add another hurdle by pledging not to personally raise money for the project during his term in office.

So, the not-for-profit Obama Foundation faces a steep climb.

And a wild card hovers: What will the election of Republican Donald Trump mean for the fundraising campaign?

Read entire article at The Chicago Tribune