Government Loans:

Financial Information on the Wolf Trap Foundation for the Performing Arts

AFMD-88-42FS: Published: May 16, 1988. Publicly Released: May 26, 1988.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO provided financial information regarding the reconstruction of the Filene Center, a stage facility at the Wolf Trap Farm Park, a national park which Congress established from a private donation of land and money.

GAO found that: (1) the federal government self-insured the Center; (2) Congress provided a $9 million grant and $8 million in 5-year matching loans for reconstruction; and (3) the reconstructed Center required about $4.1 million for additional repair work. GAO also found that the Wolf Trap Foundation for the Performing Arts: (1) agreed to reconstruct the Center after the National Park Service (NPS) advised that it would take 10 years to reconstruct the Center; (2) raised about $4.6 million for reconstruction and about $2.5 million for legal and other costs; (3) spent 25 percent of its personnel time over the past 6 years on reconstruction matters; (4) believes that it has exhausted its fund-raising potential for reconstruction costs, since the Center is now operational; (5) pays for the Center's fire protection, liability, and risk insurance; (6) stated that it required all of its $1.3 million of net working capital as of October 31, 1987, to meet the program mission; and (7) believes that the government should forgive its debt, since NPS would have eventually rebuilt the Center. GAO believes that forgiving a portion of the debt and refinancing the balance over a longer period of time would provide some return of funds to the government.

Nov 15, 2018

Nov 14, 2018

Nov 9, 2018

Nov 8, 2018

Jul 18, 2018

Jul 17, 2018

Jul 16, 2018

Looking for more? Browse all our products here