July 11, 2018
CIM Exceeds Historic $2.25 Million Annual Goal
In a year when the Cleveland Institute of Music has bucked the national trend of escalating college costs by lowering its tuition by 15%, the Institute also has crossed an historic milestone by surpassing its $2.25 million annual fundraising goal with a result that marks a 58% increase in fundraising since 2015. For the fiscal year ending June 30, 2018, CIM has exceeded $2 million in annual fund giving for the first time in its 99-year history.
“When 162 of the world’s most talented classical music students arrive at the Cleveland Institute of Music this fall, they will represent the most competitive and accomplished incoming class in CIM’s storied history,” CIM President & CEO Paul W. Hogle said. “We have seen extraordinary generosity this year from individuals, corporations and foundations in Cleveland and Northeast Ohio who believe in our vision to be the future of classical music and who provide the necessary resources for these students to succeed.”
Hogle continued: “This increased support is incredibly valuable. We rely on annual gifts to fund scholarships, student services and community engagement activities—and in return, we are proud to serve the residents of Cleveland and Northeast Ohio with nearly 600 free concerts each year. These gifts to CIM fuel our plans to further reduce tuition and the size of the student body in the coming years.”
Personal leadership giving by CIM’s Board of Trustees increased substantially and provided 27% of this year’s record campaign total. “I’m excited to see the Trustees demonstrate their passion and commitment to the success of our students and to the Cleveland Community with this increased level of support,” said Chair Richard J. Hipple. “The average Trustee gift in 2017-18 exceeded $12,000—providing important resources that help support these remarkable students.”
Audrey and Albert Ratner, longtime friends of CIM, issued a $50,000 matching gift in the closing days of the annual campaign. This challenge spurred a significant response from donors eager to leverage their giving, and drove home the final result of $2.25 million.
CIM’s Governing Members—the Institute’s leading philanthropic annual fund supporters contributing $2,500 and up—increased 40% over last year’s results. Comprised of prominent individuals from business, cultural and civic communities, Governing Members serve as passionate ambassadors in Northeast Ohio and around the globe sharing CIM’s mission, vision and purpose.
The 2017-18 annual campaign was supported by 1,175 donors who contributed $2.25 million, elevated by 398 new donors to CIM and more than $580,000 in new and increased gifts.
Cuyahoga Arts & Culture’s strong commitment to the arts in the county and a funding grant of $557,817 strengthened CIM’s ability to offer more than 500 free public performances on campus and throughout the region at Severance Hall, libraries, retirement homes, community centers, hospitals and schools, as well as reach more than 70,000 people last year through free livestream and radio broadcasts.
The Cleveland Foundation and the George Gund Foundation each provided multi-year grants of $150,000 to pilot a new minority fellowship program under the auspices of CIM’s Center for Innovative Musicianship, known as CIM². CIM² deepens connections to community partners such as Cleveland School of the Arts while formally developing skills that prepare students for the business of music, including creative entrepreneurship, business insight and professional communications. Additionally, contributions from longtime institutional supporters like the Kulas Foundation, John P. Murphy Foundation, and KeyBank continued to drive CIM’s fundraising success.
The leadership and commitment of the CIM’s Women’s Committee also bolstered the Institute’s fundraising success, as did corporate and leadership donors to CIM’s first-ever Day-in-the-Life fundraising event supporting scholarships for CIM students.