Cleveland Institute of Music increases fundraising to hold tuition costs down

Posted on: November 20, 2017

“As the Cleveland Institute of Music prepares to lower its tuition and purposefully shrink its enrollment, fundraising is taking on an increasingly important role,” writes Rachel Abbey McCafferty in Sunday’s (11/19) Crain’s Cleveland Business. “Historically, schools have turned to tuition increases and enrollment expansions as a way to raise money, but the cost of higher education is becoming too expensive, said Dale Hedding, managing director of external affairs and patron engagement.” Kent State University, a public university, and Cleveland Institute of Music “have put an increased focus on fundraising in recent years—and … have seen success as a result of their changed approach…. Efforts to grow the Cleveland Institute of Music’s annual fund really began in fiscal year 2017, Hedding said…. The institute’s annual fund …grew from about $1.5 million in fiscal year 2016 to almost $2 million in fiscal year 2017, a fairly dramatic jump compared with the steady increases of the years prior.… Hedding said the focus at the Cleveland Institute of Music is making sure the school is communicating more with donors and letting them see what their dollars fund.” Other Northeast Ohio schools covered in the article include Hiram College, Youngstown State University, and College of Wooster. 

Posted November 20, 2017