A financial report prepared for Washington’s Kennedy Center for the Performing Arts found that the institution is on the verge of bankruptcy. The 57-page report, distributed to board members last Tuesday, warned that the center could close this week and that staff salaries and routine maintenance contracts could go unpaid within weeks unless an urgent solution is found.
Trump’s name considered as a rescue option
The center’s new officials said adding U.S. President Trump’s name to the institution could be the only way to avoid bankruptcy. The name change was considered potentially helpful in rescuing the institution financially by accelerating Trump’s fundraising efforts for the center.
Trump first announced a proposal in February 2026 to close the center for two years. He said an empty building would allow teams to complete renovation work more quickly.
Two-year closure plan approved again
The board approved the closure plan in March. However, District Judge Christopher Cooper blocked the decision in May, ruling that the board had relied on insufficient information and had not adequately assessed the consequences of its decision.
Following the ruling, the board was given the opportunity to conduct a more comprehensive review and reconsider the plan. At a meeting held on August 13, the board again approved closing the center for two years as part of renovation work costing approximately $250 million.
Court overturns name-change decision
Trump also took steps in May to rename the center the “Trump Kennedy Center.” Judge Cooper blocked the initiative, ruling that only Congress has the authority to change the center’s name.
