The Washington arts institution is reportedly nearing \u201cfiscal collapse\u201d after ticket sales and fundraising plunged, while its main building may also be unsafe<\/p>\n
Washington\u2019s Kennedy Center is reportedly on the brink of bankruptcy after ticket sales and fundraising plunged in recent months, the Washington Post said on Monday. The re-inscription of US President Donald Trump\u2019s name on the building is being considered as a possible solution.
\nAfter returning to office, Trump overhauled the board of trustees of the John F. Kennedy Center for the Performing Arts \u2013 Washington\u2019s flagship national arts venue and a memorial to the assassinated US president. He also appointed himself chairman.
\nLast December, his name was added to the facade of the building but was met with protests, legal challenges, and a backlash among performers and audiences. The inscription was taken down after a US District Judge ruled in May that only Congress could change the building\u2019s name and ordered the signage removed.
\nAccording to documents obtained by the Washington Post, the Kennedy Center now faces \u201ccertain fiscal collapse\u201d within weeks. Internal forecasts cited by the outlet showed revenue has fallen far below target, leaving the institution with a multimillion-dollar deficit despite major spending cuts.<\/p>\n
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The center\u2019s board has been told that Trump has offered to help raise enough money to prevent bankruptcy. However, he is reportedly unwilling to provide the necessary fundraising and oversight without \u201cappropriate recognition\u201d for his role.
\nTrustees will consider several inscriptions on Tuesday, including one stating that the center\u2019s renovation, restoration, and endowment were overseen by Trump and the \u201cTrump Kennedy Center Fund.\u201d
\nThe financial black hole is not the center\u2019s only problem. Management is also urging trustees to close the main building immediately, saying it is unsafe for continued use after a large section of ceiling plaster crashed down inside the Grand Foyer during a storm.
\nEngineers have also found widespread corrosion in parts of the structure, including in heavy ceiling assemblies hanging above public walkways. The board had already approved a two-year renovation, but officials now say the main venue may need to shut as early as Tuesday.
\nTrump\u2019s push to put his name on the Kennedy Center comes as part of a broader rebranding campaign that has already included the renaming of a federal peace institute, a prescription-drug website, a visa program, a planned class of US Navy battleships, and a stretch of road near his Mar-a-Lago estate in Florida.
\nDemocratic senators have responded with the Stop Executive Renaming for Vanity and Ego, or SERVE Act, which if passed would bar federal property from being named after a sitting president.<\/p>\n","protected":false},"excerpt":{"rendered":"
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