Obama’s foundation has not announced a specific fundraising goal, but it is expected to seek to raise in excess of $500 million to build the library. The money will also fund an endowment to be turned over to the federal government along with the library facility and provide initial support for the foundation’s educational and charitable work after Obama leaves office in 2017.

The foundation’s largest donor in its first year was Chicago publisher Fred Eychaner, who ponied up $1 million. The next largest was a $666,666 donation from Chicago hedge fund operator Michael Sacks and his wife Cari.

The Joyce Foundation was listed as contributing $1 million, but a detailed accountant’s report and a statement from a foundation official said that amount was a pledge disclosed for tax purposes and only one-third of the money was actually transferred in 2014.

The exact donation amounts were reported in a portion of the tax form the foundation is not required to make public, but posted on its website Monday afternoon.

The foundation’s largest expenses in its first year in operation were lease payments to Jones Lang Lasalle Midwest for $615,523 and veteran Obama fundraiser Julianna Smoot’s firm Smoot Tewes Group for $476,551.

Documents obtained separately by POLITICO Monday show the foundation agreed to pay Smoot’s firm an escalating monthly fee over the next six years — ranging from $18,000 a month in the last half of 2014 to $30,000 a month in 2020.

The foundation also handed over to Smoot’s firm a “lump sum engagement bonus” of $144,000 and agreed to consider bonuses of up to $100,000 last year and this year, with a possibility of up to $250,000 a year by 2020, the agreement shows.

The agreement doesn’t detail a fundraising target overall or year-by-year but says the organization is seeking to raise $6 million per year from sources in Illinois.

Despite the contract, Smoot’s firm is not fundraising for the foundation at present, a foundation spokesperson said Tuesday.

“Smoot Tewes is not currently working for the Foundation. Given its finite fundraising needs at present, the Foundation doesn’t need a sophisticated level of fundraising infrastructure. Therefore the Foundation decided to fundraise internally for 2015,” the spokesperson said.

The decision to work without the firm this year was first reported by the Chicago Sun-Times.

Last week, Obama and his wife announced that the library will be built in Chicago, although two separate sites on the Windy City’s south side remain in play for the facility.

“All the strands of my life came together, and I really became a man, when I moved to Chicago,” Barack Obama said in a web video. “We’ll be able to now give something back and bring the world back home after this incredible journey.”

The library will operate in cooperation with the University of Chicago and the University of Illinois, foundation officials said.

The foundation turned down bids from Hawaii and New York City to build the library, but announced plans for a presence in both places, including a partnership with Columbia University — Obama’s undergraduate alma mater.

By comparison, the Clinton Foundation - the charity linked to former president Bill Clinton and his wife, Hillary - took in just over $3 million in donations in 1998, its first year of operations. It also brought in $3.1 million the following year.

The Obama Foundation voluntarily discloses its donors each quarter, providing broad ranges in which each donor contributed. As a result, it was known in January that the foundation raised between about $3 million and $6.2 million in 2014, although a precise total was not released at that time.

The donation is headed by longtime Obama friend Marty Nesbitt, businessman J. Kevin Poorman, Obama’s half-sister Maya Soetoro-Ng, and former Obama political guru and senior White House adviser David Plouffe.

Both Poorman and the foundation’s acting executive director Robbin Cohen have worked closely with Commerce Secretary Penny Pritzker, an owner of the Hyatt Hotels chain and a key Obama backer in the business community.

Cohen served as a “volunteer employee” in the executive director position last year, according to the foundation’s financial statement, which valued her services at $458,333 in 2014. It’s unclear whether she received salary from elsewhere while working for the foundation.

Obama served on the board of the Joyce Foundation from the summer of 1994 through 2002, earning more than $70,000 in directors fees. He remained on the board as he served in the Illinois State Senate, and at one point he considered leaving politics to become the group’s full-time president, he later acknowledged. Instead, he stepped down from the board as he was gearing up for his 2004 U.S. Senate bid.

Kenneth P. Vogel contributed to this report.