Report: Kennedy Center Close to Bankruptcy

The John F. Kennedy Center for the Performing Arts’s problems are ongoing as a report said the center is on the brink of bankruptcy and could close its main building.

The Washington Post reported Sunday the center could close its main building as early as Tuesday as financial and structural problems continue to grow.

Center leaders have cautioned the institution could be unable to make payroll or pay routine maintenance bills "within a matter of weeks," the Post reported.

Officials describe the situation as an imminent "certain fiscal collapse."

The warnings are part of a 57-page packet prepared for a special meeting Tuesday of the center's board of trustees, chaired by President Donald Trump.

The board is expected to consider two resolutions addressing the center's financial problems and the deteriorating condition of its building. 

One would ask for Trump's help raising funds to keep the center solvent, while the other would immediately close the main building for renovations.

Center officials argue publicly recognizing Trump's role in the institution's restoration could help secure fundraising.

Trump has offered to raise the money needed to keep the center out of bankruptcy during renovations, the Post reported.

Trustees are being asked to consider several inscriptions recognizing Trump on the building's exterior. This includes one stating that its renovation, restoration, and endowment were overseen by the president and the Trump Kennedy Center Fund.

U.S. District Judge Christopher Cooper ruled in May that only Congress has the authority to rename the Kennedy Center. Cooper ordered Trump's name be removed.

The board approved in August a separate proposal to inscribe "Restored and Renovated by President Donald J. Trump" on the facade.

The center's financial warning follows reports of steep declines in revenue.

The Post stated the center expected to collect about $124 million of the $220 million it budgeted for fiscal 2026. This would leave about $23 million deficit — even after spending cuts.

A Kennedy Center spokesperson blamed the financial problems on previous management and said Trump's involvement has attracted new donors.

Officials are also stating that the aging building has become unsafe.

Subsequent inspections found water-related deterioration in at least seven areas.

Executive Director Matt Floca and consultants said the building is "unsafe for continued occupancy," according to the Post.

Management is recommending the board order the main building closed immediately, arguing that extensive structural work, electrical shutdowns, and other repairs cannot safely be completed while audiences and employees remain inside.