The Kennedy Center has warned of a possible massive financial setback, potentially in the “hundreds of millions,” following a court order to erase President Donald Trump‘s name from its foundation.
The center lodged a court document on the night of June 29, pleading for a stay to suspend the federal judge’s directive. It argued that the financial harm it would endure "will never be recovered," jeopardizing its future construction projects, reported Forbes.
The bylaws of the Trump Kennedy Center for the Performing Arts Foundation dictate that donations must be refunded if Trump’s name is removed. The document also disclosed that some donors were only inclined to donate because the center carried Trump’s name, as per the filing.
The Kennedy Center, which has secured $258 million from Congress and hundreds of millions in private donations, is seeking a temporary pause of a court order while it appeals the case to the U.S. Court of Appeals for the D.C. Circuit.
In the filing, Kennedy Center attorneys suggested that the President’s construction capabilities could restore the building to its former grandeur, provided the center does not lose the significant amount it has collected in donations.
