Open The Books:
The John F. Kennedy Center for the Performing Arts in Washington, D.C. disclosed that it has received $269.4 million in federal funding since 2016 – including $42 million in grants and last year’s $25 million coronavirus earmark that was mostly used for payroll.
Even during the 2020 pandemic, the Center grew their net assets by $3.3 million to $505 million. Since 2016, our auditors at OpenTheBooks.com found a $114.4 million increase in net assets – from $390.6 million.
During this five-year period, their president, Deborah Rutter, received pay and benefits amounting to $5.1 million. Peak earning years were 2018 and 2019 when she was paid $1.3 million annually. During the 2020 pandemic year, she cut her pay to $507,375, which is still more than the U.S. President makes at $400,000.
Econophysics2020 