Kennedy Center leaders privately knew ticket sales and donations were collapsing even as they publicly claimed President Donald Trump's takeover had rescued the institution financially, according to newly revealed confidential internal documents.
The Washington Post obtained budgets, forecasts, board minutes and financial presentations that show both revenue streams were already sliding since Trump replaced the board and installed himself as chairman in early 2025, then cratered further after trustees voted in December to rename the center after him.
"The center took a huge hit when the takeover happened," said an official familiar with the finances. "It was just an absolute fiscal cliff. Donors disappeared, ticket sales disappeared, artists disappeared — like it was doomsday."
In a failed June court filing seeking to keep Trump's name on the building, a Justice Department lawyer argued the renaming had "represented a saving of The Kennedy Center" that prevented "financial and structural collapse."
But the center's own projections from the week before showed the opposite – ticket revenue and fundraising had plunged after the name change, putting it on track to miss its revenue target by nearly $100 million.
The center had budgeted about $220 million for fiscal 2026. By late May, officials projected only $124 million. Even after cutting expenses by roughly a third, it still projected a $23 million deficit.
Earned revenue was on pace to miss budget by 70 percent, and contributed revenue by 25 percent. One report described pledges falling by "more than 100 percent" from write-offs and withdrawals — suggesting donors pulled money already committed.
Andrew Taylor of American University called it "a nosedive" and said Trump's takeover "had a consequence, and the consequence was a catastrophic drop in revenue." Jennifer Benoit-Bryan of SMU DataArts, which tracks nonprofit arts finances nationally, said the trajectory was "remarkably different" from the rest of the sector, where large institutions generally stayed stable.
The board has continued crediting Trump publicly, arguing in an August resolution that the center "would be in financial ruin" without his fundraising expertise. A spokesperson told the Post the problems stemmed from prior mismanagement and said Trump's name had attracted new donors. The center did not dispute the Post's account of its projections.
March board minutes show trustees discussed renovation and aesthetics almost exclusively, with little mention of programming, before voting to close the center for two years.
Rep. Joyce Beatty (D-OH), one of the few trustees not appointed by Trump, is suing over that closure, arguing it was designed to obscure "the embarrassing fact" that the renaming triggered a financial collapse — which her lawyers called "a quintessential breach of fiduciary duty."
The center has not yet released its audited financial statements for the year, now months overdue.