Interim executive director Ric Grenell has disclosed a dire financial state at the Kennedy Center, America’s leading performing arts venue.
On Monday, President Donald Trump announced Grenell’s appointment to steer the Kennedy Center back to its cultural zenith.
“I am pleased to announce that Ric Grenell will serve as the Interim Executive Director of The Kennedy Center,” Trump declared on Truth Social.
“Ric shares my Vision for a GOLDEN AGE of American Arts and Culture, and will be overseeing the daily operations of the Center. NO MORE DRAG SHOWS, OR OTHER ANTI-AMERICAN PROPAGANDA — ONLY THE BEST. RIC, WELCOME TO SHOW BUSINESS!”
This appointment follows Trump’s decision to overhaul the Kennedy Center’s Board of Trustees, dismissing several members, including the Chairman.
“I have decided to immediately terminate multiple individuals from the Board of Trustees, including the Chairman, who do not share our Vision for a Golden Age in Arts and Culture,” the President announced on Truth Social.
“We will soon announce a new Board, with an amazing Chairman, DONALD J. TRUMP!”
He cited recent drag shows at the Kennedy Center “specifically targeting our youth,” declaring, “THIS WILL STOP.”
Ric Grenell, upon taking his new role, shared alarming insights into the financial health of the institution.
On X, he detailed, “I was briefed today by the CFO of the Kennedy Center on its financial situation. She told me there is ZERO cash on hand. And ZERO in reserves. And the deferred maintenance is a crisis.”
He added, “For the past months they’ve been digging into the DEBT RESERVES. We must fix this great institution. The people working hard at the Nation’s premier performing arts center deserve better – and so do all Americans.”
I was briefed today by the CFO of the Kennedy Center on its financial situation.
She told me there is ZERO cash on hand. And ZERO in reserves. And the deferred maintenance is a crisis.
For the past months they’ve been digging into the DEBT RESERVES.
We must fix this great…
— Richard Grenell (@RichardGrenell) February 13, 2025
Political commentator Mike Cernovich responded to these revelations by questioning the justification of high executive salaries at the Center, given the financial distress.
“How did the executive team justify their seven and high six-figure salaries? And where did this money go?” he wrote.
How did the executive team justify their seven and high six figure salaries?
And where did this money go? pic.twitter.com/kBPP0hbnWf
— Cernovich (@Cernovich) February 13, 2025
Further analysis of the Kennedy Center’s financial performance over recent years paints a troubling picture via ProPublica:
In 2021, the financial strain was already apparent, with revenues at $131,887,930 and expenses at $138,496,216, resulting in a net loss of -$6,608,286.
In 2022, the Center reported a significant deficit with a net income of -$12,975,193, despite revenues of $239,686,348 against expenses of $252,661,541.
However, 2023 showed a slight recovery with revenues climbing to $286,438,548 and expenses at $279,943,484, leading to a net income of approximately $6,495,064. This improvement, though, was overshadowed by the overall financial instability.
The financial statements for FY 2024 are expected to be released later in 2025, following the completion of audits and reporting processes.
The post Ric Grenell Reveals Kennedy Center’s Financial Crisis – No Cash, No Reserves, Just Debt as Institution Dives into Financial Turmoil appeared first on The Gateway Pundit.