Pledges to the Kennedy Center fell more than 100% within months of Trump’s name being added, internal documents show

For much of the past year, financial alarm bells at the John F. Kennedy Center for the Performing Arts have been ringing among the trustees of this iconic arts institution.

Warnings were issued that its accounts had deteriorated under President Donald Trump’s presidency, according to internal documents and presentations obtained by CNN that cover the Kennedy Center’s finances from fiscal 2024 through this year.

After the Kennedy Center board voted to put Trump’s name on the building in December 2025, donations to the arts institution plunged 42% and pledges fell more than 100% from January to April compared to the previous three months, a document reveals. A tax expert told CNN that a cut of that magnitude is possible if previous promises were withdrawn.

The documents show the center has faced financial pressures which have affected much of the performing arts industry as a result of the Covid pandemic; the situation worsened after the president’s intervention.

In a slide summarizing the state of the center as of May 2025, the first bullet point acknowledged that it was “running out of money.” A later slide on the situation in 2026 revealed that ticket sales fell to “pandemic levels” in the second quarter, and that “the decline accelerated in 2025 when the new board was announced.”

The financial health of the institution is expected to deteriorate further. Preliminary figures show a deficit of more than $16 million for fiscal 2025, which is expected to reach $23 million in 2026.

Taken together, the documents paint a more complete picture of the financial and physical condition of the Kennedy Center. They largely refute the Trump-aligned board’s argument that the institution needs Trump’s help. and must rename its grounds in honor of the president to raise funds for much-needed renovations.

“The Kennedy Center was losing hundreds of millions of dollars when I took over. It was failing badly! It had nothing to do with me, I’m only here to help,” Trump wrote on Truth Social in mid-September.

But one document, a financial performance assessment for fiscal year 2025, noted that the Kennedy Center assessed its deferred maintenance needs after Trump took office as president, and that funds for those maintenance updates were included in the One Big Beautiful Bill, the sweeping funding law passed by Congress last year.

Funding for the legislation “supports a major capital investment in the Center’s critical infrastructure,” the document states. “This investment provides the Center with a unique opportunity to completely renovate and modernize the main building.”

A Kennedy Center spokesperson told CNN that it ““continues to work on post-pandemic changes in audience behavior seen in the performing arts industry and ticket sales” and the changes are reflected in his budget. Trump helped him secure funding from Congress and through donations, but additional fundraising is needed for other costs, such as payroll and programming, the person said.

“The Center remains focused on restoring and revitalizing this iconic institution – while continuing to offer free and accessible programming – for the public to enjoy for generations to come,” they added.

In a statement to CNN, the White House blamed Democrats for “allowing water damage and crumbling infrastructure to turn a national treasure into a decaying building,” and reiterated the assertion that without Trump’s intervention, it would “continue to decline.”

The documents obtained by CNN included financial assessments, balance sheets and planning documents that provide an unvarnished look at the inner workings of the Kennedy Center.

They are part of a series of documents that sparked a whistleblower complaint claiming the Trump administration deliberately withheld repairs to justify its plan to close the building for two years — or even demolish the building.

They show that as a result of the Covid pandemic, the center was hit by an industry-wide drop in footfall which has continued to fall over recent years.

This accelerated after Trump took power. A line graph in a financial review presentation from earlier this year shows the downward sales trend that intensified after Trump chose a new board in February 2025 and after the center’s name was changed to include Trump.

Trump was elected president shortly after replacing the board. To this position, he appointed a longtime loyalist, Ric Grenell, as executive director, who sought to revamp the institution’s programming.

The party led by Trump the changes led to several cancellations, including the Broadway show “Hamilton.”

Sources previously told CNN that attendance at the Kennedy Center had been so low that for months it had to “paper the house” — a theatrical term that means filling seats by offering free or discounted tickets.

Between April of fiscal 2024 and 2025, ticket sales fell from $57 million to a projected $51 million, according to a document reviewed by CNN.

The Kennedy Center also struggled to meet its fundraising goals last fiscal year, records show.

Among the key preliminary findings presented by the center’s audit and finance committee is that fundraising performance fell “below target” by about $5.1 million in fiscal year 2025, the period between October 2024 and September 2025.

Some of the financial underperformance appears to have been offset by cost-cutting efforts affecting several parts of the site. One of the updates included in the filings cites reductions in personnel costs, reduced headcount and reductions in operational expenses.

The future of the Kennedy Center remains uncertain as an intense legal battle continues.

The main building is currently closed to the public following a board vote last month to close its doors for emergency repairs.

While a federal court has ordered the Kennedy Center to find a way to stay open during renovations, the institution’s leadership says it needs time to assess security risks in the deteriorating building. That judge also rebuffed Trump’s efforts to put his own name on the building.

Trump has only intensified his threats to demolish the building in response to the legal setbacks.

In September, he was seen with a poster through the window of Air Force One that appeared to read “Kennedy Center DEMOLISHED,” and government lawyers argued that only by attaching his name to the building could enough donations be raised to save it.

“The Council recognizes that President Trump’s efforts and prestige constitute the Center’s only hope for financial survival and structural renewal,” the Justice Department argued in a court filing, adding: “The Council also emphasizes, and the undisputed evidence demonstrates, that without the prominent recognition of the Trump Administration and President Trump’s efforts, donors will not contribute and the Center will continue to be in a financial and structural death spiral.”

Judge Christopher Cooper ordered the administration to provide at least 30 days’ notice before demolition or new construction can take place. He also asked for more explanation about the temporary closure and what emergency repairs the Kennedy Center says are needed.

In an interview with TIME magazine on Thursday, Trump repeatedly refused to rule out demolition of the Kennedy Center.

Asked if he would commit to not using wrecking balls to demolish the building, he said: “I’m not committing to anything. We’ll see how it plays out in court.”

In his latest court filing, executive director Matt Floca said the closure would be reevaluated on a weekly basis. Late Wednesday evening, Floca sent the small group of remaining staff an email saying the building itself “remains temporarily closed” after crews assess its conditions.

In the email obtained by CNN, engineers “documented significant corrosion” around the soffits, an exterior overhanging structure.

“Our facilities, safety and security teams are currently conducting a detailed assessment of emergency exits to determine whether, and under what conditions, the building can accommodate occupants safely,” it said, adding that an update on the issue is expected “within the next two weeks.”

The court is expected to receive an update on the situation this Friday.

CNN’s John Towfighi contributed.

This story has been updated with additional information.