Trump-Led Kennedy Center Board Warns Bankruptcy Unless Trump’s Name Returns

The John F. Kennedy Center for the Performing Arts in Washington, DC is on the brink of bankruptcy and could close as soon as Tuesday, according to The Washington Post, with a board of trustees meeting expected to consider whether to close or keep the main building.

“could run out of the ability to pay payroll or routine maintenance contracts within weeks”

AFP

AFP reported that documents obtained by the newspaper say the Center “could run out of the ability to pay payroll or routine maintenance contracts within weeks,” and CNN reported the institution warned it could face “certain fiscal collapse” within weeks unless President Donald Trump’s name is added back to the building.

AFP

The Washington Post also reported that board members were recommending the main building be closed immediately due to costs, and that the Center expected to collect about $124m of the projected $220m in revenue, leaving a roughly $23 million deficit even after substantial spending cuts.

The dispute is tied to a 57-page report and a special meeting on Tuesday, when the Trump-led board is expected to consider both a financial crisis and a physical one as the building needs renovation.

AFP further reported that a section of plaster from the ceiling came loose in the Grand Hall and fell about 60 feet (18 meters) during a strong storm earlier this month, prompting artists to cancel concerts there in response to Trump’s seizure of power.

The Kennedy Center’s board of trustees, chaired by President Donald Trump, has argued that putting the president’s name on the facade could be the only way to avoid imminent and “certain fiscal collapse,” while a federal judge has repeatedly blocked the effort.

Al Jazeera reported that the trustees say the institution will not be able to pay employees or meet maintenance costs within a few weeks, and that the board is recommending closure of the main building immediately due to costs.

Al Jazeera

CBS News said U.S. CDistrict Judge Christopher Cooper ruled that “Defendants cannot install memorials for President Trump or anyone or anything else at the Kennedy Center without Congress's blessing,” after the board voted to add an inscription beneath the Kennedy Center’s name.

In response to the latest board vote and court constraints, Trump said on Truth Social, “The closing will take place immediately,” while also stating that “the Renovation and Reconstruction... cannot begin until such time as the D.C. Circuit rules on the Board’s approved name.”

CNN reported that Trump’s call to the board came moments after Cooper stopped the board’s latest plan to add Trump’s name and rename the campus after him, and that Cooper wrote the proposal “bucks a federal court order and a statute Congress enacted.”

The board’s proposed path to avert bankruptcy hinges on both immediate closure for safety and a public acknowledgment of Trump’s role, with draft resolutions circulated to trustees ahead of Tuesday’s meeting.

“step in and raise the necessary funds to keep the Center from bankruptcy”

CNN

CNN reported that one resolution said Trump has offered to “step in and raise the necessary funds to keep the Center from bankruptcy during its much needed renovation,” but only if his name is added back to the building so he can “lead the fiscal rescue of the Center.”

BroadwayWorld said CEO Matt Floca told the trustees that a portion of plaster ceiling fell from a height of roughly 60 feet in the Grand Hall during a storm on September 4, and that inspectors found additional water damage and engineers observed severe structural corrosion in dozens of exterior panels.

The financial stakes extend to payroll and maintenance contracts, with the documents warning the Center could be unable to make payroll and cover routine maintenance costs in the coming weeks, while the board also sought to choose among 10 possible engravings to be carved on the building facade.

In the legal and political fight over the Center’s future, CNBC reported Trump said the Kennedy Center will stay closed without renovation unless his name is added back, and CNN reported Paolo Zampolli told The New York Times, “Trump attracts money,” arguing that “when Trump says donate to this place, everyone will donate.”