Cleveland Orchestra posts surplus of nearly $1 million

Posted on: December 4, 2014

Like a Bruckner symphony or Wagner opera, the good news from the Cleveland Orchestra’s latest annual report just goes on and on,” writes Zachary Lewis in Wednesday’s (12/3) Plain Dealer (Cleveland). “In fiscal 2014, the orchestra posted a sizable surplus, a vastly larger endowment, record fundraising, and some of its healthiest attendance figures ever…. The main number of interest in the 31-page report is $941,000, the amount the institution recorded as surplus…. The surplus came despite a wave of free and discounted tickets. With its popular ‘Under 18s Free’ and Student Advantage deals, the orchestra in 2014 hosted its 100,000th youngster…. The endowment also grew by leaps and bounds. As of June 30, the orchestra’s reserve was worth just over $172 million, an all-time record…. Gifts to the orchestra’s yearly Annual Fund totaled $10.6 million, a record high. On top of that came $30 million—almost $1.5 million more than last year—in pledges, government grants, legacy commitments and other donations. What, exactly, prompted such generosity is impossible to say. Still, the ongoing success of such projects as the Neighborhood Residency, diversified programming such as the new ‘Summers@Severance’ series, opera productions, and ambitious efforts by way of education were pivotal.”

Posted December 4, 2014

Photo of Cleveland Orchestra by Roger Mastroianni