Cleveland Institute receives $1M gift to support full-tuition scholarship

Posted on: February 26, 2021

The Cleveland Institute of Music has received a $1 million gift that will go toward providing a full-tuition conservatory scholarship for one incoming student. The gift comes from longtime Trustee A. Chace Anderson and his wife, Josie. In announcing the A. Chace and Josephine Anderson Dean’s Scholarship, CIM stated that the gift is “the latest in a period of significant growth in endowment giving, marking $16.3 million in new gifts and pledges since 2017 that are dedicated to CIM’s vision for the future of classical music.” In 2017, the Cleveland Institute of Music announced a 15 percent reduction in tuition as part of a commitment to lowering the cost of education. The institution says its goal is to add $40 million to the scholarship endowment over the next decade to support the affordability initiative; the latest gift brings the total raised to $16.3 million.