BOLD INTENTIONS
CURTIS INSTITUTE OF MUSIC STRATEGIC DIRECTION 2014–2024
EXTERNAL TRENDS ...... 2
CURTIS 2024 ...... 3
BOLD INTENTIONS ...... 5 Mission, Core Values, Vision ...... 5 Strategic Shifts ...... 7 Paths Not Pursued ...... 9
GOALS AND STRATEGIES ...... 10 Curtis Musician Life Cycle ...... 11 Global Musical Community ...... 16 Programs, Teaching Model and Experiential Learning ...... 22 Financial Future ...... 29 Organizational Structure ...... 33
THEMES AND IMPERATIVES ...... 36
FUNDING THE STRATEGIC DIRECTION INITIATIVES ...... 41
DETERMINING STRATEGIC PRIORITIES ...... 41
CURTIS INSTITUTE OF MUSIC STRATEGIC DIRECTION 2014–2024
n the occasion of the founding of the Curtis Institute of Music in 1924, Mary Louise Curtis Bok issued a clarion statement for readers of Musical America. Addressing America’s musical Ocommunity in one of its most prominent vehicles, Mrs. Bok called for the training of young artists who “shall have the scope, the vision, the completeness of full musicianship to quicken the musical life of the whole country. It is to the development of such musical leaders that the full resources of The Curtis Institute of Music are pledged.”
Ninety years later, we remain inspired by her vision and challenged to chart strategic direction to propel us through the next decade and to the 100th anniversary of the Curtis Institute of Music. If Mrs. Bok could have predicted the rate of change that we are experiencing and the hyper-connected global community in which we operate, we feel confident that she would issue another clarion statement to ensure Curtis’s continued success.
To honor her vision and to engage not only the whole country, but a global musical community, and to develop the musical leaders of this century, it is time for Curtis to issue another call to action—a call to ensure that Curtis remain tuition-free in order to attract the finest musicians from around the globe—a call to ensure music-making of the highest caliber and the development of artist-citizens who will influence the world through their music.
Anticipating that the pace of change will continue to accelerate, we are setting direction to guide us, with strategies and tactics to implement, with enough flexibility to seize and/or create opportunities that will position Curtis as an institution that moves boldly and with confidence—educating and training the world’s musical leaders while building a global musical community. We’ll build on the successes of the 2008–2013 strategic plan.
The process of charting strategic direction for the coming decade has been an effort involving representatives from all of Curtis’s key constituent groups. In the process we have analyzed extensive data from alumni, data on our student population, anecdotal data on artist residencies, and quantifiable data on our global reach; and we have examined external trends in the ever-evolving music world, as well as mega- trends that cross industry boundaries.
We anticipate launching our most ambitious fundraising effort to date in support of our strategic initiatives—an effort that will seek local, national, and international support. In order to attract a global community of supporters, Curtis must demonstrate why it matters to the future of our art form and how Curtis musicians—current students, alumni and faculty—serve as musical leaders and ambassadors, influencing and engaging a global musical community. We will continue to seek opportunities that will help us further develop musical leaders, as we firmly believe this is our responsibility to our students, to our alumni, to our art form, and to all who can be enlightened and inspired by it.
PAGE 1 EXTERNAL TRENDS
It is not our task to predict the future, but to be well prepared for it. Pericles, 500 B.C.
The External Trends Sub-committee of the Ad Hoc Planning Committee, chaired by Tom Morris, chair of the Curtis Board of Overseers, issued a report in October 2013 to inform the strategic direction process. The Executive Summary of the External Trends Report is included in Appendix A.
Although the work of this sub-committee concluded in 2013, Curtis must continue to track external trends and collect and analyze alumni data in order to anticipate and lead in a rapidly and continuously changing environment.
The mega trends seem dizzying—globalization, urbanization, hyper-connectivity and convergence, digital currencies, shared economy, demographic shifts, technological advances, sustainability, mobility, cyber- safety, and an ever-evolving list of possibilities—but they are illuminating.
Spotting and adapting to these major global, societal, and musical transformative forces in ways that benefit Curtis students, alumni, and the global musical community we aspire to serve and engage will require significant ongoing effort and a wide-open viewing lens. We’ll need to detect the outlines and patterns of change, resist building our scenarios of the future solely around extrapolations of our current perspectives and experiences, and consider the full interconnected implications of the trends and ground shifts.
PAGE 2 CURTIS 2024
THE FOUNDING OF THE CURTIS INSTITUTE OF MUSIC: 1924 Mrs. Bok’s founding vision called for the training of young artists who “shall have the scope, the vision, the completeness of full musicianship to quicken the musical life of the whole country. It is to the development of such musical leaders that the full resources of The Curtis Institute of Music are pledged.”
In January 1925, Mrs. Bok further articulated her vision for Curtis students:
“It is my aim that earnest students shall acquire a thorough musical education, not learning only to sing or play but also the history of music, the laws of its making, languages, ear-training, and music appreciation.
They shall learn to think and to express their thoughts against a background of quiet culture with the stimulus of personal contact with artist-teachers who represent the highest and finest in their art.”
FAST-FORWARD TO 2024 AND THE CELEBRATION OF CURTIS’S 100TH ANNIVERSARY Curtis 2024 remains inspired by Mrs. Bok’s vision and endures and thrives as a small, highly selective, tuition-free institution where the most gifted young musicians from all parts of the world compete for admission through a rigorous process. With an unwavering commitment to excellence and the intrinsic need of human beings to create and experience music of timeless relevance, the school has protected its century-old meritocracy system: talent—and only talent—will determine who is accepted. The school is firmly and enthusiastically rooted in Philadelphia as the artistic home and nerve center of a global network of illustrious alumni who are shaping and sustaining the field.
Students are attracted to Curtis by its exceptionally high artistic standards and legacy, and by the opportunity to study one-on-one with the finest faculty, perform alongside their gifted musical peers, engage in the “learn by doing” philosophy, and develop in an environment where their unique talents are nurtured individually with tailor-made experiences. They seek lives in music and know that Curtis is the sure path to achieve such lives. Their Curtis education shapes the lens through which they see the world and offer themselves as artists—and as citizens.
Although the school continues to enjoy the high regard it has had for a century, it has resisted the kind of complacency that could have left it blind to change. Curtis 2024 students arrive with a built-in set of entrepreneurial and technical skills not possessed—or even fathomed—by previous generations. The school challenges itself to nurture those skills as part of the complete Curtis experience and prepare students for both traditional and project-based careers. Curtis musicians garner great acclaim for being able to leverage their positions as top-level artists who use technology and media to share their work with audiences everywhere, allowing for an intimate relationship with their music-making regardless of distance. The school cultivates this in its active engagement of audiences and learners through digital initiatives, organizational collaborations, artist residencies, touring programs, and fellowships that are thematically unified and impact-oriented.
PAGE 3 Curtis 2024 students emerge into an ever-evolving arts landscape that they are able to navigate independently and creatively. They have grown as both artists and artist-citizens through the century-old “learn by doing” philosophy, curricular offerings, and opportunities as students and fellows to tour, engage with the community, and design projects to further not only their lives in music, but also to attract new audiences. Those with affiliations—to orchestras, opera companies, schools of music, or other organizations—are well equipped to use those connections to further their careers as arts leaders within those institutions. Others begin their own series, festivals, schools, and unique projects. They are collaborators, presenters, teachers, leaders in the field, and “soldiers for music”—whatever their chosen career path.
The world recognizes Curtis 2024 as a source of oxygen that has fueled the flame for classical music, ensuring that it will not be extinguished as long as artists, through their Curtis experience, remain to keep it alive and vibrant.
PAGE 4 BOLD INTENTIONS Mission, Core Values, Vision
MISSION: CORE PURPOSE Curtis’s mission has long defined its reason for being. It does not determine our goals or strategies, but rather serves as our “guiding star,” focusing our efforts on continued pursuit of our purpose. Although the purpose does not waiver fundamentally, it does inspire change and progress. Our mission statement has evolved as a result of the strategic direction process:
1924: To train exceptionally gifted young musicians for careers as performing artists on the highest professional level
2008: To educate and train exceptionally gifted young musicians for careers as performing artists on the highest professional level
2014 To educate and train exceptionally gifted young musicians to engage a local and global community through the highest level of artistry
Curtis’s mission statement is its raison d’etre, to be constantly pursued through goals and strategies. “The very fact that purpose can never be fully realized means that an organization can never stop stimulating change and progress.”1
CORE VALUES “Core values are the essential and enduring tenets of an organization. A small set of timeless guiding principles, core values require no external justification; they have intrinsic value and importance to those inside the organization.”2
The following core values were articulated as a result of the strategic direction process.
Excellence Learn by doing philosophy, achievable through its unique, small size Tuition-free policy Musical leadership, advocacy, and engagement Institutional adaptability, flexibility, and diversity
We’ve identified Curtis’s enduring core values as those that are truly central to our being. We have tried not to confuse them with operating practices, business strategies, or cultural norms which have been, and will continue to be, open to change.
1 Refer to Harvard Business Review article, October 1996, “Building Your Company’s Vision,” James C. Collins and Jerry I. Porras, page 68, posted on http://commonroom.curtis.edu/trusteeresources
2 Ibid, page 66. PAGE 5
VISION The proposed shift in our vision (envisioned future):
2008: To be the finest music conservatory in the world—the first choice for students seeking performance careers
2014: To be the finest music conservatory in the world—the benchmark for a tradition of excellence and innovation in music
We will strive to be:
The global gold standard conservatory “brand” The standard against which other institutions measure success The institution that is studied for its success as measured by the ways in which its students and faculty engage and impact a global community with the art of music The institution that retains its strong heritage and continuously addresses the needs of its students as they invent careers as 21st-century artist-citizens, who value the education and experiences their talents afford them and give back by building inspirational opportunities for others to discover the transformative art of music.
It is our intention that this vision—or envisioned future—serve as a huge and daunting challenge to the organization: a catalyst for action that inspires a compelling, unifying effort. We must articulate the cultural and strategic shifts required over the next decade to achieve this vision. And we must create a vivid description of our success and how we will measure it.
We view this not an external proclamation, but as an internal motivator for action across the entire Curtis community.
Envisioning our long-term future will require us to think beyond the current capabilities of our organization and beyond the current environment. Fulfilling such a vision will compel the organization to be farsighted as well as strategic and tactical. We will constantly strive to achieve the vision—believing that, with exceptional and ongoing effort, awareness of the external environment, creativity, innovation, and continuous improvement, we will succeed.
PAGE 6 BOLD INTENTIONS
Strategic Shifts
Developing artists of the highest caliber who are socially conscious and/or business savvy are not two mutually exclusive concepts. Curtis can serve as an incubator for innovation and creativity as well as superior musicianship. Curtis must cultivate an educational ecosystem where students are inspired to collaborate with each other, yearn to become musical ambassadors, and aim to use their art for service. Joseph Conyers, (Double Bass ’04, Overseer) July, 2014
Curtis’s emerging strategic direction boldly strives to be an engine of innovation, ever fueled by its tradition of excellence. Creating a strategic direction—rather than a strategic plan—allows the flexibility to respond dynamically to the needs of our students as the external environment continues to evolve. It positions Curtis to act opportunistically according to our mission, core values, and vision.
The operative conjunction in this strategic direction is not OR, but AND.
Curtis will remain committed to music-making of the highest caliber, AND will pursue the following strategic shifts to provide a framework for the specific goals and initiatives we intend to pursue.
CURTIS MUSICIAN LIFE CYCLE Curtis will expand its focus AND attend to every aspect of the musician life cycle—from joining Curtis, through the student experience, to alumni life after Curtis—to create a global, networked organization of engaged lifelong learners and leaders.
GLOBAL MUSICAL COMMUNITY Curtis will expand its focus beyond its teaching studios, practice rooms, classrooms and performance spaces AND will broaden its reach and impact to attract gifted students from all corners of the world. Curtis will greatly enhance its brand, and expand its base of support by sharing its excellence with local and global musical communities through performances, touring, summer programming, engagement activities, and digital initiatives.
PROGRAMS, TEACHING MODEL AND EXPERIENTIAL LEARNING Curtis will ensure that the special performance faculty-student relationship continues AND will enhance the curriculum and teaching model. Through artist residencies and faculty renewal, Curtis will ensure that its musicians have access to additional role models: extraordinarily gifted professional musicians who offer diverse experiences, perspectives, and career paths. Curtis will ensure that students have opportunities to develop musically and academically, as artists of the very highest caliber and as artist-citizens who are well- prepared to thrive as 21st-century musicians; and will continuously measure its offerings against this standard.
PAGE 7 FINANCIAL FUTURE Curtis will ensure that the institution has a stable and sustainable financial future, providing merit-based full-tuition scholarships for all students AND competitive student financial assistance for living expenses, as well as funding to realize the ambitious goals of the strategic direction.
Curtis’s program of merit-based full-tuition scholarships for all students has created a community populated with extraordinary talent. Curtis is a meritocracy where talent, not ability to pay, paves the way for the most gifted young musicians from around the world to participate in music-making at the highest level in an environment that inspires collaboration, innovation, leadership, and service.
We are aware of increasing competition from our peer conservatories, who offer not only free tuition, but also room, board, and stipends in order to attract the most gifted students.
For Curtis to remain tuition-free AND offer additional merit-based financial assistance and realize the ambitious goals of the strategic direction, we will need to double our endowment by 2024.
ORGANIZATIONAL STRUCTURE Curtis will design an organizational structure to support the shifts, goals, themes, and imperatives included in the strategic direction. The leadership structure, organizational design, and staffing will reflect the work necessary to fulfill our bold intentions. Like the strategic direction, the organizational structure will be dynamic and flexible, able to adapt to opportunities and challenges in real time.
PAGE 8 BOLD INTENTIONS
Paths Not Pursued
During the planning process we explored a wide range of initiatives, including some and rejecting others after full exploration of their potential impact on Curtis. Some of the initiatives we determined not to pursue at this time include: dedicated housing for our young artists (pre-college-age students), establishing a campus outside of the U.S., expanding the size of our student body, providing funds for all living expenses to all Curtis students regardless of need in addition to free merit-based tuition, and creating full- time faculty department heads for each performance discipline. That is not to say that Curtis might not revisit some of these initiatives over time, should conditions change.
PAGE 9 GOALS AND STRATEGIES
We shall not cease from exploration, and the end of all of our exploring will be to arrive where we started and know the place for the first time. T.S. Eliot, Four Quartets, 1943
As a result of an inclusive and reflective process to chart Curtis’s strategic direction, many program and capital initiatives were discussed that could propel the school toward the fulfillment of its mission and vision. Given the scope and financial implications of these initiatives, it is clear that we will have to set priorities, incorporate core activities into our operating budget and continue the successful “pay as you go” strategy for new initiatives that served us so well during the implementation of the last strategic plan.
We fully appreciate that our “bold intentions” may shift as we pursue the goals outlined in this strategic direction; and we will continue the discipline that we followed with the last strategic plan:
Set and share our goals—consistent with our mission, core values, vision, and strategic direction—for each fiscal year Report on our progress at the end of each fiscal year, noting where, how, and why we succeeded and where, how, and why we were unable to succeed Learn from our successes and failures, applying this learning and an awareness of any “ground shifts” to the next fiscal year and beyond
Having a compelling mission, vision, and direction has focused our energies on some very specific shifts, themes, goals and strategies.
We fully realize that the hard work of implementation will be critical to our success. It will require continued energy and momentum, our ability to engage the entire Curtis community and expand our base of support, and our willingness to adapt our direction as we proceed.
While recognizing that we will continuously improve all aspects of our current operation—the work that has defined Curtis’s tradition of excellence and innovation since 1924—we’ve organized our goals according to the five specific areas:
Addressing every aspect of the Curtis musician life cycle Engaging a global musical community Enhancing our programs, teaching model, and experiential learning opportunities Ensuring financial stability and sustainability Creating an organizational structure to support our current and emerging work
We believe the goals and strategies that follow will allow Curtis to focus on achieving its vision.
PAGE 10 GOALS AND STRATEGIES
Curtis Musician Life Cycle
GOAL: Curtis will expand its focus AND attend to every aspect of the Curtis musician life cycle—from joining Curtis, through the student experience, to alumni life after Curtis—to create a global, networked organization of engaged lifelong learners and leaders.
We will continue to: • Admit students based on artistic promise • Admit students without age requirements
Consistent with our revised mission and vision, we will: Implement an application and audition process that allows for flexibility and recognizes that Curtis is an aggregate of individual, but integrated, programs Curate the Curtis student population following the annual audition process to ensure a vibrant musical community Design and implement a Young Artist Certificate Program for pre-college-age students Provide a wide range of opportunities for Curtis students to develop artistically, academically, professionally, and socially to equip them to invent 21st-century careers Offer fellowship programs that bridge from student life to professional life Create and harness the power of a global alumni network of lifelong learners and leaders
PRE-CURTIS Implement an application and audition process that allows for flexibility and recognizes that Curtis is an aggregate of individual, but integrated, programs Admission to Curtis has always been determined solely on the basis of musical talent and potential. While talent and artistic potential remain key criteria for admission, it is a priority for Curtis to identify students who are likely not only to succeed, but to thrive, and who will contribute to the rich musical life of the school.
Because our faculty members, representing different disciplines, seek different qualities in the students with whom they will work, we will: Implement application and audition processes that allow for flexibility and acknowledge that Curtis is an aggregate of individual, but integrated, programs Affirm that admission to Curtis is based on artistic promise and potential Encourage flexibility in the application and audition processes to accommodate departmental and faculty interests and requirements
PAGE 11 Permit faculty the option to auto-advance to the final round auditions those applicants whom they meet and hear at competitions, concerts, and master classes outside of Curtis, including Curtis On Tour programs Utilize DecisionDesk software to customize the application process by department Offer the audition option of preliminary pre-screening to all departments and faculty Offer each faculty member and department the option of interviewing candidates for admission by adding time to the final round of auditions and/or scheduling individual interviews before or after auditions. These interviews would aim to provide faculty with a more rounded picture of the personality, perspective, and commitment a prospective student would bring to the Curtis community
Curate the Curtis student population following the annual audition process to ensure a vibrant musical community Curtis has historically determined the number of openings by discipline, with instrumental quotas driven by the requirements of each orchestra section. In 2008, age limits were removed from the audition process, resulting in a larger number of older students. That shift has had a very positive impact on the Curtis musical community.
Curtis has not limited the number of pre-college-age students it accepts. Over the past few years, we have also experienced an increase in the number of pre-college-age students (primarily in piano, violin and cello), most coming from outside of the United States. Recognizing this trend, we recommend that Curtis: Determine the number of openings by discipline, but allow some flexibility when faculty members identify truly extraordinary candidates Continue to accept gifted young musicians regardless of age, factoring in the needs of each department and the composition of the entire Curtis community
AT CURTIS Design and implement a Young Artist Certificate Program for pre-college-age students Pre-college-age students have been part of Curtis since its inception. Historically, Curtis has treated its youngest students as undergraduate diploma students and provided the same musical opportunities afforded to college-age students.
In 2009, Curtis established and implemented the Young Artists Initiative (YAI) to address the special needs of its pre-college-age students. Currently, students under age 16 attend Curtis under the supervision of a parent or guardian who accompanies the student to Philadelphia. In most instances, Curtis arranges for housing (a two-bedroom apartment), schooling (most recently with Center City Academy), English as a Second Language (ESL) courses for non-English speakers, and student health and psychological services. Since 2012, Curtis has allowed pre-college-age students 16 years and older to reside in Lenfest Hall, without a parent or guardian.
An increasing drawback to having foreign students residing with parents in Philadelphia relates to visas. For these parents, who are not U.S. citizens, the only option is to travel to Philadelphia on a B-2 Visa. These visas are not designed for long-term stay in the U.S., but rather for vacations and other
PAGE 12 short-term stays. In addition to the Visa difficulties of recent years, parents residing in Philadelphia incur expense, family and job disruption, and emotional stress.
In order to alleviate the issues associated with young artists, Curtis has explored offering dedicated housing on the boarding school model, but has determined that the resources required and the responsibilities Curtis would assume are not consistent with the school’s overall strategic direction.
Accordingly, in order to best serve our young artists, we will: Create and implement a certificate program specifically geared toward high school-level students (Young Artist Certificate Program) Provide young artists with the same musical opportunities as college-age students, but separate them for the purposes of student services and academics Create an evaluation system in which faculty and staff determine a young artist’s readiness to continue as a college student as s/he approaches the end of high school education (similar to the current system of additional-year nominations for bachelor’s candidates) Maintain a housing policy separating Young Artist Certificate students from college-age students, requiring them to live with a parent or guardian Maintain association with the University of Pennsylvania’s Student Health Services and Curtis’s outside mental health providers, but continue to seek more effective ways to insure Young Artist Certificate Program participants (costs, benefits, etc.) Seek better balance in the lives and schedules of young artists to mitigate burn-out and injuries by exploring curricular delivery and performance obligations
Provide a wide range of opportunities for Curtis students to develop artistically, academically, professionally, and socially to equip them to invent 21st-century careers. Curtis’s unique learn by doing philosophy and its intensive one-on-one musical training with world- class performance faculty members have always nurtured the artistic life of its students. The result is a rich musical community that provides endless possibilities for collaborations, experimentation, and innovation. The Student Recital Series, Curtis Symphony Orchestra performances, Curtis Opera Theatre productions, chamber music performances, and touring activities provide a wide range of opportunities for students to develop artistically and professionally.
A recent comprehensive curricular review process has addressed the need to redesign offerings in liberal arts and musical studies. There is an effort underway to rethink and redesign the career studies curriculum, creating offerings appropriate for each stage of the musician life cycle that reflect the skills and experiences necessary for Curtis musicians to thrive professionally.
Since opening in 2011, Lenfest Hall has become a hub of social activity for resident and non-resident students, providing comfortable common spaces for dining, special events, and informal gatherings.
Specific initiatives related to students’ artistic, academic, professional, and psycho-social development are detailed on page 22 (Programs, Teaching Model, and Experiential Learning).
PAGE 13 AFTER CURTIS Offer fellowship programs that bridge from student life to professional life The 2013 External Trends Sub-committee Report offered insights into the career patterns of Curtis alumni. Increasingly, Curtis alumni are experiencing multiple careers and project-based opportunities as revolutionary shifts in technology, the proliferation of alternative venues, emphasis on audience engagement, and the need to develop new audiences transform the music industry. The number of Curtis graduates pursuing advanced degrees has increased and we’ve learned that our recent graduates, not eager to “cut the Curtis umbilical cord,” welcome opportunities that allow them to stay connected to Curtis through a growing number of fellowship programs.
Fellowship options have proliferated in the past few years with positions available in Audio-Visual Arts and the Department of Performance Studies; the string quartet and conducting fellowship programs, and most recently, a pilot of the ArtistYear Fellowship Program. These offerings provide a valuable bridge from student life to professional life through a wide variety of experiences—all involving performance at the very highest level. With this in mind, we recommend that Curtis: Continue the current fellowship programs, seeking term and/or endowed funding - String Quartet Program - Conducting Fellowship Program - ArtistYear Fellowship Program Institute annual feedback and evaluations from program participants to continuously improve the offerings Collect longitudinal professional data on fellowship program participants to determine the long- term impact of these programs on their professional development and career satisfaction
Create and harness the power of a global alumni network of lifelong learners and leaders Curtis’s living alumni population numbers less than 3,000, representing 48 states and 38 countries. Each year at Commencement, a representative of the Curtis Alumni Council welcomes newly minted graduates to this very elite association and urges a lifelong relationship with their fellow alumni and with Curtis. Strong as the sentiments are directly following Commencement, Curtis has not succeeded in engaging a large percentage of its alumni over time or tapping into a network that could prove invaluable to alumni worldwide and to Curtis.
Curtis has a real opportunity to imagine itself as a modern networking organization: bringing mentors, teachers, professionals, students, and alumni together in a system that provides access to the resources each community member brings to bear.
Recent data has indicated that alumni seek: intergenerational contact; connections to one another (particularly in Europe and Asia, where the feeling of isolation may be high and the culture around music education is very different from the United States); performance opportunities; professional development opportunities and resources; both high-tech engagement and human engagement; and representation helping Curtis identify trends and issues of interest and importance to their respective segment(s).
PAGE 14 By refocusing our efforts and our resources, we hope to create a true network—one which will engage alumni throughout their careers, expand access to current students and to one another, and ensure that alumni see Curtis—and one another—as resources at every stage of their lives. To achieve this, Curtis will: Continue annual data mining of alumni to understand their career paths, wants, and needs in order to better serve and engage them Formalize/brand Curtis Alumni Network (CAN) as an overarching community to which all alumni belong—with no membership dues or requirements, just opportunities for support, connection, and service Reposition and reconstitute the Alumni Council as a smaller advisory group to conceptualize long- term goals with staff and help execute short-term strategies involving life-long learning and engagement opportunities Tap and/or create a robust online mechanism to keep alumni connected with one another and to the school; refresh alumni web pages to communicate current resources available, generate dialogue, share job postings, and link alumni to one another; understand alumni connections beyond Curtis Consider promoting the Careers in Music Speaker Series, potentially including video content for alumni to stream or download Form regional Facebook pages (Europe and Asia) and identify an alumnus to serve as administrator Explore and develop social media networks, including Twitter and Facebook Create a private teacher directory (to aid alumni with teaching activities) Reintroduce alumni profiles on Curtis.edu Launch an e-newsletter specifically for alumni Beginning with the next Alumni Reunion (September 2015), incorporate professional development sessions and commit to a regular pattern of reunions in Philadelphia and elsewhere Formalize a mentor program that pairs alumni with current students Create an organizational structure to support alumni engagement Celebrate the unique accomplishments of alumni in various career paths—in the field of music and beyond Explore an instrument-loan program for young alumni (through such a program, Curtis could offer its own instrument collection as collateral to secure low-interest loans on the behalf of alumni)
PAGE 15 GOALS AND STRATEGIES
Global Musical Community
GOAL: Curtis will expand its focus beyond its teaching studios, practice rooms, classrooms, and performance spaces AND will broaden its reach and impact to attract gifted students from all corners of the world. Curtis will greatly enhance its brand, and expand its base of support by sharing its excellence with both local and global musical communities through performances, touring, summer programming, engagement activities, and digital initiatives.
We will continue: • Presenting 150+ free (or very reasonably priced) performances in and around Philadelphia each year • Touring • The most successful summer programs developed as part of Curtis Summerfest • Specific digital initiatives that help us reach a global musical community
Consistent with our revised mission and vision, we will: Create Curtis On Tour version 2.0, providing students, alumni, and faculty with exceptional performance and career opportunities while cultivating a global community of Curtis alumni, parents, enthusiasts, and supporters and also creating a global network of presenters. Expand Curtis Summerfest through broader and unique musical offerings for adults and high school students to enliven the Curtis campus during the summer; grow earned revenue; increase teaching opportunities for Curtis students, alumni, and faculty; and build advocacy for classical music Continuously update Curtis.edu and other online properties, incorporating evolving technologies as appropriate Extend our global reach strategically through massive open online courses (MOOCs), increased offerings through Curtis Performs, live-streamed events, and other digital initiatives Offer multiple opportunities for students to deeply engage audiences of all kinds (See page 22, Programs, Teaching Model, and Experiential Learning) Develop organizational capacity to identify, evaluate, create, and adapt opportunities for innovation and reach Build the Board of Trustees and Board of Overseers with the addition of diverse candidates representing different regions of the country and the world Become a leader in technology by continuously incorporating evolving technologies as part of our web presence to reach a global community
PAGE 16 Create Curtis On Tour version 2.0, providing students, alumni, and faculty with exceptional performance and career opportunities while cultivating a global community of Curtis alumni, parents, enthusiasts, and supporters and also creating a global network of presenters Curtis On Tour launched in the spring of 2008 as an initiative to provide joint performing opportunities for Curtis students, faculty, and alumni to perform together, enhancing their educational and professional experience. Curtis On Tour has increased visibility for Curtis, as well as its students, faculty and alumni. It has also fostered friend-raising and fundraising efforts and introduced Curtis to prospective students. Since its inception, hundreds of students, alumni and faculty members have participated in Curtis On Tour, visiting countries in Europe, Asia, and Latin America, as well as cities across the United States.
This unique “learn by doing” program not only provides students with valuable performance opportunities that mirror the realities of professional touring, including multiple performances of the same repertoire. It also facilitates introductions to presenters, orchestras, music directors, and artist managers. It gives students teaching experience through outreach and master classes and affords them countless ways to engage with audience members. Curtis On Tour showcases our extraordinarily gifted young musicians and promotes the school’s visibility across the United States and around the world.
This program has the potential to further evolve and more effectively cultivate a global musical community. By creating a multi-year strategy for touring, with clear criteria for selecting tour locations, ensembles, and repertoire, Curtis On Tour will expand its global reach; strengthen alumni, parent, and faculty relationships; attract potential students; and identify and cultivate donors in specific geographies—all while continuing to provide outstanding educational opportunities for students.
As we plan for the future of Curtis On Tour, we will: Create a business model—a multi-year strategy for touring with clear criteria for selecting the most advantageous tour locations, ensembles, and repertoire including: - a long-term strategy for orchestra tours - a strategy for touring at domestic and international festivals - a plan to expand the network of chamber music and orchestra presenters to benefit students, alumni and faculty - a plan to showcase diverse ensembles—including voice, Curtis 20/21, resident string quartet, etc. Determine the financial model for sustaining and growing Curtis On Tour through: - term and endowed funding - presenter fees - expense projections - staffing and other resources to support a growing program Design and implement a communication strategy to broaden the reach and deepen the impact of Curtis On Tour, using social media, Curtis.edu, and other digital tools to move beyond concert venues Further develop Curtis On Tour as a unique recruiting tool with metrics of success
PAGE 17 Link Curtis On Tour to our fundraising strategy, as a means to identify potential donors and introduce them to Curtis for future follow-up and cultivation
Expand Curtis Summerfest through broader and unique musical offerings for adults and high school students to enliven the Curtis campus during the summer; grow earned revenue; increase teaching opportunities for Curtis students, alumni, and faculty; and build advocacy for classical music Established in the summer of 2012 and using housing and musical spaces in Lenfest Hall, Curtis Summerfest is experiencing steady growth each year. Curtis Summerfest offers music programs geared to adult and high school learners who otherwise would not have opportunities to study at Curtis. The programs offer employment and valuable teaching experience for Curtis students and young alumni. Many Curtis faculty members also teach at Summerfest programs. These are residential programs, allowing us to employ food-service, maintenance, and cleaning staff as well. Since its inception, Curtis Summerfest has served 430 students from 13 countries and the feedback from participants has been remarkably positive.
Each year the program offerings have evolved. Since 2012, Summerfest programs have included: Chamber Music and a Reading Orchestra for Adult Musicians, with participants ranging from 30- to 90-year-olds; Wabass (Double Bass) Workshop; Bassoon Workshop; Jeffrey Khaner Flute Class; and a three-week Young Artist Summer Program serving primarily high school students. In 2015, Summerfest will pilot the Young Artist Voice and Collaborative Piano Program.
All Summerfest courses are tuition-based, residential programs, housed in Lenfest Hall. In addition to the four Curtis-sponsored programs, Curtis rents its facilities to outside music programs to optimize the use of and revenue from our facilities during the summer months. Our net revenue from summer programs has more than tripled since our first year of operation in 2012, but the benefits extend well beyond the financial results. We have engaged a wide range of young and adult learners and provided them and their Curtis student-teachers with invaluable experiences.
As we plan for future Summerfest seasons, we will: Review and evaluate feedback from adult learners, students and their parents, and Curtis faculty as we determine future content, timing, and duration of courses Benchmark summer program offerings, fees, and schedules from other conservatories and summer camps Consider the addition of new programs, rotation of current programs, and continuous improvement to annual programs to ensure robust enrollment Continue to grow participation, revenue, and summer employment opportunities Introduce a revenue-generating performance series that features Summerfest faculty
Continuously update Curtis.edu and our other online properties, incorporating evolving technologies as appropriate Curtis last redesigned and revitalized its website, Curtis.edu, in 2009 to support its 2008–2013 strategic plan initiatives and fundraising efforts. During that redesign, Curtis developed a new look and logo, updated the website’s system architecture and functionality, created new calendar functions, introduced
PAGE 18 intranet capabilities, and improved capacity for receiving donations and selling tickets online. The redesign allowed for a more open, inclusive approach to updating information and materials in real time.
Our current website has allowed us to collect and analyze data to inform action and has served us well. As we embark on the strategic direction outlined in this document, we recognize that Curtis.edu represents our brand and serves as the core portal to Curtis for current and prospective students, faculty, alumni, Summerfest participants, patrons, donors, trustees, overseers, lifelong learners, and music lovers. The site has evolved to interface with a series of “digital channels” (microsites) and online environments (chiefly social media). Reliance on our intranet is increasing across the organization as each constituent group seeks information pertinent to its needs. It has become clear that our website requires updating to support current and emerging strategic initiatives.
Accordingly, we will: Create a plan to update both the look and functionality of Curtis.edu and our related online environments Design the website with all—or specific—audiences in mind—anticipating and meeting their needs Ensure that users can engage with Curtis through its website—anytime, anywhere, and on any device Identify optimal back-end and online tools to reach Curtis constituents (e-messaging, blogs, etc.)
Extend our global reach strategically through massive open online courses (MOOCs); increased offerings through Curtis Performs, live-streamed events, and other digital initiatives Digital initiatives provide opportunities for connecting a global musical community to Curtis.
Curtis currently uses the Coursera platform for distribution of its massive open online courses (MOOCs). Through enrollment in the courses, learners experience performance recordings through our online stage, Curtis Performs, where we feature HD video of concert highlights and full-length works performed by Curtis students, faculty, and alumni. MOOCs provide the greatest waves of traffic to Curtis Performs and boost sign-ups to receive notifications of new posts. MOOC online forums spark a global conversation about music, with participants of various skill levels and backgrounds sharing resources, experiences, and questions. Using the Coursera platform, Curtis MOOCs become a nexus for engaging a global musical community.
Since fall of 2013 when Curtis introduced its first MOOC, more than 100,000 learners from more than 150 countries have participated in our courses, introducing a global audience to Curtis faculty, students, and alumni.
Technology will continue to offer unprecedented opportunities for artists to make worldwide connections to audiences and to develop their work. Through current and emerging digital initiatives, Curtis is teaching its students to take full advantage of technology, which is critical in the training of young musicians and the sustainability of top-level careers in music. Curtis will continue to embrace rapid and disruptive changes in technology to train its students to take on the manifold challenges of project-based careers. Curtis students will become leaders and advocates to a worldwide audience of
PAGE 19 music lovers and future listeners, using technology and engagement to reach out past the walls of the school, across boundaries of geography, genre, and demographics to share their incomparable artistry and best traditions.
We will continuously evaluate and update our digital strategy, measure our results, and determine the best uses of existing and emerging technologies to reach and develop a global musical community while serving our students; and will: Grow a worldwide Curtis community of online learners Continue our partnership with Coursera while exploring additional platforms for distributing our current MOOCs to a global audience of lifelong learners; determine more efficient and cost effective ways of developing additional online courses by linking them to All-School Projects Explore opportunities for further distribution of Curtis performances on MUSAIC (New World Symphony’s platform), YouTube, local broadcast partners (e.g., WHYY), and other media hosting websites (e.g. InstantEncore) Incorporate valuable learning experiences for Curtis students Use social media to create awareness of Curtis and to engage and enhance our growing global community Track emerging technologies, incorporating them in Curtis’s global digital presence as appropriate
Develop organizational capacity to identify, create, and adapt opportunities for innovation and reach Digital initiatives afford Curtis a huge opportunity to share its musical “secret sauce” globally— enhancing its brand, attracting new students, and expanding its base of support. As its presence in the digital space expands, Curtis must determine the skills and resources required to succeed, and will need a flexible organizational design that follows its emerging strategies. The tasks ahead include designing a digitization strategy and the overall architecture for managing digital assets, determining website redesign and functionality, and identifying opportunities for making use of new digital tools, channels, partnerships, and collaborations. Over the past several years, we have learned—mostly through project experimentation—the positions and skills required to not only continue key digital initiatives, but to refine and grow them in a more sustainable way.
Accordingly, we will: Ensure that digital expertise is distributed across the organization Adopt an iterative approach to job descriptions, departmental and cross-departmental responsibilities, and structure in order to ensure collaboration across departments Continuously assess the capabilities required to achieve strategic goals, and add resources or consulting/project personnel as needed Establish a department of online learning to serve internal needs (students and faculty) and to engage a global musical community Appoint a member of the senior team to bring together potentially inefficient and conflicting digital efforts under a single leader and to make digital capabilities efficient and effective Redesign Curtis.edu—both the front end (user interface) and back end (system functionality) Increase web development support with the addition of a full time Curtis-dedicated resource (hired through Information Technology Shared Services or directly by Curtis)
PAGE 20 Hire a full-time Curtis-based digital projects coordinator who works across departments and platforms to coordinate, support, and optimize Curtis’s evolving digital presence
Build the Board of Trustees and Board of Overseers with the addition of diverse candidates representing different regions of the country and the world Curtis has expanded its geographic reach over the past several years. In addition to attracting students from 17 countries and 30 states, Curtis has reached out nationally and internationally through touring (Curtis On Tour) and through its digital initiatives (Curtis Performs and MOOCs).
In the past year, the Governance Committee of the Board of Trustees has expanded its geographic reach by electing an international board chair and an additional trustee from Asia. This committee seeks a pool of diverse trustees who can bring different perspectives and resources to benefit the Curtis community.
The Board of Overseers’ membership reflects wide geographic diversity, with excellent national representation and several international members as well. The Board of Overseers includes members from a wide variety of disciplines, including higher education, orchestra and opera management, artist management, technology, finance, and consulting, among others. Their “outside-in” perspective benefits Curtis leadership in considering and planning curricular initiatives that will prepare students for their 21st-century lives in music.
Curtis will: Seek diverse candidates for both its Board of Trustees and its Board of Overseers: Through the Governance Committee of the Board of Trustees, identify and cultivate a diverse slate of potential trustees; and the Board of Overseers will identify and cultivate a diverse slate of potential overseers Continue to review trustees whose terms expire to determine whether they should continue their service Add trustees and overseers who have the capacity to support Curtis intellectually and financially and who can help Curtis broaden its perspective and global reach Rely on and engage trustees and overseers to help the institution broaden and deepen its base of support around the world
PAGE 21 GOALS AND STRATEGIES
Programs, Teaching Model, and Experiential Learning
GOAL: Curtis will ensure that the special performance faculty-student relationship continues AND will enhance the curriculum and teaching model. Through artist residencies and faculty renewal, Curtis will ensure that its musicians have access to additional role models: extraordinarily gifted professional musicians who offer diverse experiences, perspectives, and career paths. Curtis will ensure that students have opportunities to develop musically and academically, as artists of the very highest caliber and as artist-citizens who are well-prepared to thrive as 21st-century musicians; and will continuously measure its offerings against this standard.
We will continue to: • Provide extraordinary one-on-one teaching and coaching of students by major performance faculty members • Evaluate and continuously improve our curricular offerings to meet our students’ needs, implementing initiatives from the curricular review process • Evolve the all-school project, which will continue to guide the programming for orchestral and opera performances, individual lessons, academic electives, and online courses • Protect the studio and practice time required for excellence • Address faculty succession and attract new faculty members who represent a diversity of experiences and styles • Address faculty compensation to remain highly competitive
Consistent with our revised mission and vision, we will: Rethink and redesign our career studies curriculum, creating offerings appropriate for each stage of the musician life cycle that reflect the skills and experiences necessary for Curtis musicians to thrive professionally Explore best practices to empower young musicians to be lifelong entrepreneurs Design and implement a hybrid model of instruction for musical studies, incorporating lecture classes, lab classes, and one-on-one instruction to provide students with the benefits of both group and individual instruction; and continue to provide skill-based learning opportunities in both the liberal arts and musical studies curricula Engage the entire Curtis and extended community through the annual all-school project Continue to develop a robust roster of guest artists to engage for residencies Introduce an “alternative venues” initiative for student and alumni performances that mirrors current and emerging audience trends Redesign the opera department to support its ambitious productions and goals
PAGE 22
Rethink and redesign our career studies curriculum, creating offerings appropriate for each stage of the musician life cycle that reflect the skills and experiences necessary for Curtis musicians to thrive professionally; explore best practices to empower young musicians to be lifelong entrepreneurs Without question, the music industry and the lives of musicians have changed drastically over the last decade and continue to do so at a rapid pace. To ensure an accomplished career in music, it is more critical than ever that a musician master a variety of professional tools to support the highest level of artistry. Musicians have increasingly diverse vocational pursuits, and the ability to lead, collaborate, teach, and produce is the core of a successful project-based career. How can Curtis better prepare and educate its students to engage the current and future global community through the art of music?
In order to develop the absolute highest level of artistry, graduates must be able to conceive and realize projects rooted in their art and must know how to deeply engage audiences of all kinds. A Career Studies Review and Planning Committee was formed in February 2014 to support the career studies mission, and to investigate the skills and design the diverse experiential learning opportunities Curtis students require for successful careers in the future. The committee membership represents a cross- section of the Curtis community—faculty, staff, trustees, overseers, alumni, and current students—and includes those shaping the current and future musical landscape.
To date, the committee has created a list of career-based skills, as well as levels of fluency (exposure, fluency, and mastery) for each skill that Curtis students should develop before graduating.
Additionally, a redesigned career studies curriculum is being piloted during the 2014–15 school year. As new offerings like the Careers in Music Speaker Series and the required Social Entrepreneur course are assessed, the committee will continue to consider the following:
- What career studies training does Curtis currently provide and which students have the opportunity to participate? - What career-based skill sets should Curtis students of the future have when they graduate? - How, when, and where does Curtis present those skills, curricular and non-curricular, as part of a student’s education? - As a career studies curriculum is developed, what should be required and what should be elective? How can additional curricular requirements be fit into an already full course of undergraduate study? - How can we continue to track trends in the music industry, and how should this data be used in the development of career studies offerings?
As a more robust career studies program takes shape in the future, Curtis will utilize an external reviewer to continue to refine its program and offerings in this area.
PAGE 23
With respect to career studies, the Community Artist Program, and entrepreneurship, Curtis will: Develop, via the Career Studies Review and Planning Committee, a recommended course of study and set of learning opportunities to take effect in Fall 2015; classes and opportunities in career studies should be skill- and project-based, i.e. students should “learn by doing.” Evolve and grow the Community Artist Program (CAP) and the ArtistYear Fellowship Program Create a “capital fund” (and a competitive process) to support Community Artist Program initiatives for students and alumni
Design and implement a hybrid model of instruction for musical studies, incorporating lecture classes, lab classes, and one-on-one instruction to provide students with the benefits of both group and individual instruction and continue to provide skill-based learning opportunities in both the liberal arts and musical studies curricula
The musical studies curriculum at Curtis has been reassessed numerous times in the past, including a three-year review and redesign that began in 2010 and was implemented in 2013.
The private lesson is the center of each student’s study within his or her major area of concentration. The individual attention provided by private instruction enables teachers to craft a course of study based on each student’s unique needs and allows students to learn at their own pace as their strengths and weaknesses dictate. With the obvious benefits of individual instruction in mind, implementing a similar model within the musical studies curriculum has been under consideration as part of the strategic direction planning process initiated in February 2013.
The Young Artist Initiative (YAI) musical studies tutorial sessions, which started in Fall 2011, have given Curtis the opportunity to pilot a small-scale version of the proposed individualized musical studies instructional model. Before this program started, most high school students could not take musical studies classes due to scheduling conflicts. For those who were able to join mainstream musical studies classes, differences in maturity between the high-school and college-age students created difficulties. Now the overall curriculum is dictated by the core studies program, but the instruction is individualized. No two students will move through the topics covered in the YAI program the same way, even if they have the same teacher.
With individualized instruction, teachers can focus on the most effective methods and exercises for each student. Students can move through the material at their own pace, always getting direct feedback and attention from the teacher. For younger students, there is less pressure to “finish” a particular curriculum by the end of the year, so the teacher and student are free to focus on skills and areas that the student enjoys. The student will make faster progress in gaining these skills, and enjoy the subjects more. The student also has the responsibility to do his or her homework and come to the lesson prepared.
There are drawbacks to individualized instruction. The teacher often ends up repeating the same lessons and “lectures” to each student, especially at the beginning of a topic. As in a master class or in an orchestra rehearsal, there is a great benefit in watching other students make mistakes and learn.
PAGE 24 With one-on-one lessons, there is no group learning and no group discussion. Students don’t have the opportunity to correct one another’s work; as many teachers know, a student can learn more deeply when teaching or correcting others. Finally, for some subjects, there is more positive pressure to perform well in front of classmates. For example, students tend to be much more nervous (and are therefore more prepared) to sight-sing, sing solfége, take a dictation at the board, or play a keyboard exercise with a classroom of their colleagues watching than if they were in a one-on-one setting with a teacher.
If the YAI model were to be expanded to the entire musical studies curriculum, the recommendation would be to introduce a combination of lecture classes, master classes, and one-on-one instruction. Topics could be introduced to everyone at the same time in a lecture class; master classes would allow students to see and discuss each other’s work; and one-on-one sessions would have the same benefits as described above. This model would be applied to the Core Studies I and II curriculum and could possibly be extended to Core Studies III and IV as well as the solfége curriculum. Keyboard classes already work with this model, but might move further in that direction. Music history, form, dictation classes, and elective courses are generally smaller and would remain lecture/discussion-based.
In this “hybrid” model, the curriculum wouldn’t need to change and students would be assessed the same way they are currently -- a combination of attendance, participation, preparation, quality of work, and homework/test scores. The main advantage to adding individualized instruction would be a faster and deeper learning of the material.
The three-year curricular review, referenced above, also resulted in a renewed and replenished liberal arts course of study beginning with the 2013–14 school year. Similar to the musical studies curriculum, liberal arts at Curtis were assessed internally through student and alumni surveys and curriculum development committee meetings and externally by informal and formal reviews.
The revitalized liberal arts curriculum makes use of a skills-based approach through classes offering content with more depth and breadth than the former course of study. The focus on developing foundational skills in reading, writing, speaking, critical thinking, and reasoning will allow for improved assessment of expected learning outcomes in liberal arts courses. A more integrated and intentional approach to fields of scholarly inquiry has been adopted, as well. By choosing courses within “curricular pathways,” students will be able to situate their work as musicians within the broad traditions of human endeavor while they pursue life-long learning as artist-citizens.
A larger percentage of the new musical studies and liberal arts curricula is fulfilled through electives with options for how to fulfill departmental requirements. Creating courses with content that can be cross-listed both intra- and interdepartmentally gives each student the choice to personalize portions of the academic work.
With respect to the musical studies instructional model and liberal arts curriculum, Curtis will: Adopt a hybrid model of instruction—lecture classes, lab classes, and one-on-one instruction—in the musical studies Core Studies curriculum to give students the benefits of both group and individual learning
PAGE 25 Maintain a skills-based approach in the liberal arts curriculum while offering a blend of required, rotating, and all-school project based course content
Engage the entire Curtis and extended community through the all-school project Each year the all-school project brings together academic and artistic programs around a theme or subject that lends itself to in-depth examination and discovery. Examples of past all-school project themes include ”The Second Viennese School,” ”France Between the Wars,” ”Russia: A Land and Its Influence,” and ”Love and War.”
With the all-school project, students have the opportunity to explore a specific repertoire in a comprehensive and holistic way, to include both its musical analysis and its surrounding social history, politics, and culture. The project creates interactions across the school to integrate the study of music and humanities and to encourage broad artistic perspectives through the performance experiences that are informed by the project.
The projects create integrative linkages between the performance, liberal arts, and musical studies curricula and offer a unique opportunity for all Curtis students to: - Deepen and broaden their artistry by studying and performing together a defined repertoire - Practice critical listening and analysis of that repertoire, along with research, writing, and discussion in Musical Studies courses - Explore the surrounding social history, literature, philosophy, psychology, visual art, politics, and general cultural ethos in liberal arts courses
Extracurricular programs such as outside concerts, lectures, museum visits, and social activities expand the students’ learning experience beyond the walls of Curtis.
With respect to future all-school projects, Curtis will: Continue to engage Curtis’s community and various curricula Involve a representative cross-section of faculty and staff in all-school project planning Consider repurposing all-school project content for MOOCs Thoughtfully integrate the all-school project theme into season programming and leverage for marketing and public relations purposes
Continue to develop a robust roster of guest artists to engage for residencies Curtis will continue its program of artist residencies, to include: - Accomplished artists who have established themselves as top musicians in the field with a broad base of recognition and extensive professional achievement. - Artists from diverse performance backgrounds who will build and broaden Curtis musical traditions and challenge paradigms. - Artists with project-based careers, many of whom use technology and enterprise to cultivate audiences and further their musical and career goals. - Artists who collaborate across disciplines and media to create and develop new and inventive work and art forms
PAGE 26 Curtis will identify and optimize residencies, working closely with the president, council of deans, and faculty to define institutional projects and goals for guest artists. We will: Define the scope, repertoire, and duration of the residency suitable to meeting the stated goal Ensure meaningful student participation and faculty buy-in Develop means to facilitate communication between institution, guests, faculty, and students Engage individuals and ensembles who offer perspectives that involve a variety of repertoires, and seek artists who engage in projects that involve collaborations across instrumental, vocal, conducting, and composition departments Seek feedback from students, faculty, and guest artists to evaluate the value and impact of the residencies
Introduce an “alternative venues” initiative for students and alumni performances that mirrors current and emerging audience trends We will: Provide students with opportunities to explore performance venues throughout Philadelphia and beyond, that are not traditional concert locations and that are accessible to a broad demographic and audience base Guide students as they plan their performances (select venues, plan programs, reach potential audience members, anticipate performance needs, evaluate results, etc.)
Redesign the opera department to support its ambitious productions and goals The opera stage has shifted considerably in the last 20 to 30 years due to the use of video. Operas on video have created an expectation never previously encountered in more than 300 years of opera tradition in which the size of the singers was not important, as long as they could sing. Today’s audiences sit in movie houses and do not want their fantasies of the characters on screen to be visually upset, whether the singer has a great voice or not. This is a huge change in the history of opera.
This change is quickly followed by new expectations formed by hearing opera in movie theaters: microphones. The body producing the sound is much less awesome than it was 25 years ago. Audiences seem to be disappointed going from the technological event to the live event in the opera house.
We are going to have to find a much greater flexibility in training the voice in the next ten years—a flexibility in training for the career that will allow a young singer to be ready and open to whatever the opera stage needs in the future.
Curtis will: Continue to offer professional performances and assume responsibility for the productions as a learning experience for the singers Limit the department to its current size of around 25 students. The small size of the department is a big part of what makes it so special Continue the “learn-by-doing” approach to training as the motor of everything we do with the students.
PAGE 27 Create a collaborative piano department, within the opera and voice department; include pianists who have a strong desire to work with singers and are interested in conducting, and provide opportunities for them to work with all the coaches, the voice teachers, and the Opera Philadelphia music director. Become a resident company at the Kimmel Center, doing two or three productions annually in the Kimmel Center’s various venues (Verizon Hall, Perelman Theater, SEI Innovation Studio) and one non-site-specific production. Staff the department’s administrative team appropriately (see chart below; addition of three new positions over the coming years)
STAFF STUDENTS PRODUCTIONS
Artistic Director and Approx. 25 Voice and At least two productions at the Dean of Vocal Studies (ongoing) Opera students (ongoing) Kimmel Center
Music Director (starting in 2016–17) 2–3 collaborative piano Two productions non-site specific students (starting after Managing Director (ongoing) 2015–16)
Production Manager (starting in 2016–17)
Administrative Assistant to the department (timing tbd)
PAGE 28 GOALS AND STRATEGIES
Financial Future
GOAL: Curtis will ensure that the institution has a stable and sustainable financial future, providing merit-based full-tuition scholarships for all students AND competitive student financial assistance for living expenses, as well as funding to realize the ambitious goals of the strategic direction.
We will continue: • Curtis’s merit-based full-tuition scholarship policy • Need-based financial assistance for living expenses • To maintain our campus facilities and infrastructure, ensuring the best possible environment for our students, faculty, staff, and alumni • To increase Curtis’s annual contributed income by 3 percent or more • To clarify spending priorities and impose strict discipline on the budget process in support of strategic initiatives (continue “pay as we go” philosophy where appropriate and incorporate proven initiatives into operating budget)
Consistent with our updated mission and vision, and in support of our goals and initiatives, we will: Increase the endowment by $200 million by 2024, through new gifts, maturing planned gifts, and endowment growth Reduce the endowment spending rate to a sustainable 4.6 percent or less by 2020 Increase earned revenue streams and explore additional revenue opportunities Provide merit-based financial assistance for living expenses for select students, to address increasing competition from peer conservatories and universities vying for our most gifted students Extend the campus facilities master plan, incorporating major renovations to 1726 Locust Street Introduce project-based budget coding to accommodate cross-departmental work
Increase the endowment by $200 million by 2024, through new gifts, maturing planned gifts, and endowment growth The Finance and Facilities Sub-committee of the Strategic Direction Process was charged with examining the current state of Curtis’s finances and facilities, and to anticipate demands and needs in preparation for short and long-term planning. The committee requested that management provide financial models that reflect the economic requirements of the initiatives identified in the strategic direction, considering realistic growth in expenses, endowment returns, and annual fund income.
Based on financial modeling incorporating the assumptions that follow, Curtis will:
PAGE 29 Launch a fundraising effort to increase the endowment by at least $200 million by 2024 In a quiet phase of the fundraising effort, secure at least 50 percent of the goal before launching a public campaign Focus fundraising efforts nationally and internationally to demonstrate Curtis’s broad base of support Raise majority of the funds from 2015 to 2020
Key assumptions underlying the proposed ten-year financial model: General • School population of 170 to 175 students, with the same mix of students by age range and discipline • Faculty size of 109, including 24 full-time equivalents (remainder are part-time) • Modest increase in staff size—from 57 full-time equivalents (see page 33, Organizational Structure)
Revenue • Projected return on endowment at 6.5 percent • Annual increase in public support of 3 percent or more • Annual increase in earned revenue of at least 3 percent (ticket sales, summer programs, outside rentals, audition fees, etc.) • 50 percent increase in tour funding for three years, beginning in FY16 • Ongoing support (endowed gifts or continued term funding) for programs currently receiving term funding (e.g. Conducting Fellowship Program, String Quartet Program, Community Artist Program, MOOCs, ArtistYear Fellowships, etc.) • Receipt of $30 million (cash) from previously booked planned gifts
Expenses • Annual increase in operating expenses of 5.5 percent • Capital spending remains flat • Ongoing funding of capital and operating reserves • Expenses associated with new strategic initiatives (including fundraising efforts) • Human resources to support current and new initiatives (see page 33, Organizational Structure) • Increased demand for need-based financial assistance • Cost of merit-based financial assistance • Phased major renovation of 1726 (if funded)
Reduce the endowment spending rate to a sustainable 4.8 percent by 2020 In order to reduce the endowment draw spending rate to 4.8 percent or less in a sustainable way, Curtis will: Increase the endowment by at least $200 million Increase public support by at least 3 percent annually, raising $50 million by 2024
PAGE 30 Budget realistically; prudently manage expenses and the Curtis rate of inflation Review all outside provider contracts to ensure the best service for the best price
Increase current earned revenue streams and explore additional revenue opportunities Income from summer programs and outside rentals presents the greatest opportunity to increase earned revenue. Other earned revenue comes from fees from presenters associated with Curtis On Tour (all of which is used to offset the cost of touring); ticket sales; and audition and registration fees.
Since the opening of Lenfest Hall, Curtis has been steadily increasing revenue from Summerfest (Curtis-sponsored summer programs for tuition-paying students and adults); and from rentals to outside groups for their summer programs and for meetings and other events throughout the year. Over the past four years we have learned which programs and events best serve Curtis’s needs as well as the needs of our renters.
Accordingly, Curtis will: Create a multi-year plan for Summerfest; evaluating each program and staffing model every year, rotating programs as necessary, and adding new programs and discontinuing programs as interest and participation dictate Focus on fewer Summerfest programs with a greater number of participants (i.e. grow the most popular programs) Offer rental opportunities to outside groups for their high-quality summer programs, as profitable to Curtis and convenient for the Curtis schedule Limit outside rentals for meetings and special events to those that provide a reasonable return on the investment of Curtis staff resources Improve in-house catering (currently provided by Parkhurst) to attract higher-margin events
Extend the campus facilities master plan, incorporating major renovations to 1726 Locust Street Phase I of the Campus Facilities Master Plan was completed in 2013. Phase I of the plan included the development of Lenfest Hall, restacking the campus after the completion of Lenfest Hall in 2011, renovation of all floors of the Rock Resource Center (1720 Locust Street), the construction of an organ studio in the basement of 1726 Locust Street, and the purchase and renovation of the Rubenstein Centre (1620 Locust Street) in 2013.
Although regular maintenance and improvement of our new and historic buildings are ongoing, now is the opportune time to update the Campus Facilities Master Plan and propose significant improvements to our historic building at 1726 Locust Street.
Accordingly, Curtis will: Develop a phased approach to renovating 1726 Locust Street that addresses long-needed improvements without disrupting operations during the Curtis school year, while preserving the historic character of the building and Curtis’s “grandfathered” status under the Americans with Disabilities Act (ADA)
PAGE 31 Obtain cost estimates for each phase of the renovation to determine the financial requirements of the project. Offer naming rights to the building (Curtis Institute of Music “to be named” Hall) to support the renovation work and to contribute significantly to the endowment, to ensure that Curtis remain tuition-free (estimate a gift of $50–60 million with approximately $10–15 million required for all phases of the renovation work)
In order to create a stable and sustainable financial future, Curtis will embark on an ambitious, global fundraising effort culminating on or before 2024. .
PAGE 32 GOALS AND STRATEGIES
Organizational Structure
GOAL: Curtis will design an organizational structure to support the shifts, goals, themes, and imperatives included in the strategic direction—a structure that is dynamic and flexible to adapt to opportunities and challenges in real time.
We will continue to: • Determine our staffing needs, build capacity internally, and bring in outside talent • Create forums for cross-departmental thinking and problem-solving
Consistent with our updated mission and vision, and in support of our goals and initiatives, we will: Examine our current organizational structure and determine the capabilities and shifts required to succeed with our proposed initiatives Revisit the roles and responsibilities of the senior leadership team, focusing on the results we hope to achieve Focus on succession planning for key leadership roles Track organizational effectiveness as part of the annual progress report on goals and strategic initiatives
The Organizational Structure Sub-committee of the Strategic Direction Process was charged with considering the emerging strategic initiatives and exploring how Curtis’s leadership, governance, and administrative staff should be organized to successfully to achieve current and emerging initiatives and operational goals and to consider succession planning for key positions.
In order to promote an organizational structure that is dynamic, flexible, and able to adapt to the evolving needs of our students as they prepare for 21st-century careers, the organization will continue to evolve as well. Accordingly, to ensure success, leadership must continuously ensure that the right people are in the right roles, doing the right work.
Examine our current organizational structure and determine the capabilities and shifts required to succeed with our proposed initiatives As a result of recommendations from the sub-committees of the planning process, several organizational needs and shifts have emerged that will influence organizational structure in the next several years.
Curtis will continuously monitor the talent and capabilities of our trustees, overseers, faculty, and staff to determine future organizational shifts. Initially, Curtis will:
PAGE 33 Add trustees from outside of Philadelphia (searching nationally and internationally), seeking a diverse pool of trustee candidates representing diverse backgrounds and perspectives Create a technology committee of the board (title to be determined) comprising trustees and outside experts, to help guide Curtis’s presence and expansion in the digital space Add overseers from around the country and around the world who represent diverse backgrounds and perspectives Staff appropriately to continue tracking external trends and alumni data to inform curricular decisions Organize to support current and emerging initiatives: - digital initiatives (from web design to online lifelong learning), - community engagement - entrepreneurship - expansion of Curtis On Tour to include large ensemble touring - more individualized approach to musical studies - growing attendance for Summerfest programs` - major fundraising effort from 2015 to 2024 - opera department organizational shifts
Revisit the roles and responsibilities of the senior leadership team, focusing on the results we hope to achieve Curtis will: Continue the Council of Deans to provide focus on and coordination of all academic and performance related curricular activities Split the responsibilities of the current executive vice president and chief operating officer between a new vice president of finance and administration (working title) and the new position of senior vice president of advancement Expand the responsibilities of the dean of faculty and students to include online lifelong learning; matrix reporting relationship of the senior director of online learning to the dean of faculty and students and the dean of artistic programs Expand the responsibilities of the vice president of external affairs and patron engagement to include web redesign and development Rename the department of performance studies as the department of artistic programs and performance Increase staffing for the department of artistic programs and performance (beginning in FY16) and the vocal department (beginning in FY17) Add the current managing director of the department of performance studies to senior staff (new title will be vice president department of artistic programs and performance) to foster increased coordination and smooth implementation of performances (particularly as they relate to marketing, public relations, development, etc.)
Focus on succession planning for key leadership roles Because Curtis is small (58 staff and 109 faculty positions), logical successors for staff leadership positions and faculty members may not currently reside inside the Curtis organization. In order to provide for smooth and timely transitions, Curtis will: PAGE 34 Identify potential candidates—internal and external to Curtis—for key leadership roles and faculty positions; update those lists annually Update job descriptions for key leadership roles on a regular basis Determine the talent pool inside the organization and create opportunities for learning and professional growth Invite potential faculty members to Curtis for master classes and/or artist residencies and collect feedback following their visits
Track organizational effectiveness as part of the annual progress report on goals and strategic initiatives We will: Evaluate organizational effectiveness annually as part of the fiscal year–end strategic direction update, focusing on results departmentally, cross-departmentally, and organizationally to determine whether goals have been met, whether the right people are in the right roles doing the right work, and whether and how roles and responsibilities need to shift or evolve Adjust the organizational structure to ensure ongoing success
PAGE 35 THEMES AND IMPERATIVES
It is always wise to look ahead, but difficult to look further than you can see.
Without tradition, art is a flock of sheep without a shepherd. Without innovation, it is a corpse.
Winston Churchill (1874–1965)
Curtis will address the following themes and imperatives with specific actions as they support all of the proposed strategic shifts:
DIVERSITY In order to best prepare its students for distinctive careers in music, Curtis is dedicated to providing diversity in all aspects of students’ lives, including curricula, performing opportunities, and the school community as a whole. Every member of the Curtis community, regardless of personal background, is united by the power of music. Since its founding in 1924, Curtis’s need-blind, merit-based admission policy has resulted in a student body comprising extraordinary young musicians of every race, geographic origin, religious background, socio-economic level, and sexual orientation.
Curtis’s performance programs provide unparalleled access to a broad range of faculty, guest artists, and residencies; and performance opportunities focused on the development of a broad range of repertoire through participation in the Curtis Symphony Orchestra, Curtis Opera Theatre, Student Recital Series, Curtis On Tour, Curtis 20/21 Ensemble, community engagement programs, and the Curtis Collegium.
Curtis’s academic programs in musical studies, liberal arts, and career studies develop a strong, skill-based foundation in each area. As students progress through the curricula, they are given the ability to complete their requirements with varied elective offerings that cater to their diverse interests and educational goals.
Curtis’s reputation and global reach attract a diverse pool of applicants to each year’s auditions. Each entering class of students represents a very select cross-section of those heard each winter and early spring—musicians ranging in age from pre-college to post-graduate, representing diverse geographic locations, races, backgrounds, and aspirations.
DATA COLLECTION AND TREND-TRACKING In order to anticipate and lead in an environment of rapid change, Curtis must continually track external trends and collect alumni data. Improved analysis and interpretation of the data will inform Curtis initiatives.
Curtis will continually survey alumni to understand how their careers evolve over time, what the school can do to serve them, and how to adjust the curriculum. Curtis will develop an understanding of the types of students who are attracted to the school and how well it is meeting or adapting to the expectations of those who enroll, so that they can lead fulfilling lives as artists and as artist-citizens.
PAGE 36 In addition to surveying its own community, Curtis will seek to understand the professional paths of graduates of peer institutions (e.g. Juilliard, New England Conservatory, Yale, Oberlin). In order to remain the leader in preparing gifted young musicians to pursue lives in music, Curtis must remain in the forefront of industry and external trends. Through ongoing research—including site visits at peer institutions— Curtis will explore how its new programs fit into the broader landscape and how successful they are. Curtis will share this information with peers in the field in order to strengthen not only its own students and alumni, but also the sector overall.
In order to capture as much valuable alumni data as possible to inform action, Curtis will: Launch an active campaign to gather e-mail addresses from all alumni (currently we have e-mail addresses for about 75 percent of living alumni, which limits our ability to share information quickly and dynamically) Track how and whether participation in Curtis On Tour has influenced students’ post-graduation careers and/or their engagement (financially and otherwise) with Curtis Survey all alumni at least twice annually to closely monitor their professional activity Develop a pattern and methodology for reaching out to alumni as they graduate, then every five years thereafter, to assess the professional opportunities available to them as well as their perceptions of the musical landscape and their readiness for it Design a system to collect and share alumni performance information, including program content, in order to amplify their careers and leverage their successes by engaging a global musical community
Our data collection efforts will extend further—to parents, volunteers, faculty, and staff: • Current data on parents feels under-mined and under-developed. What can/should we find out about them as their student is entering Curtis? How can we connect the dots among parents? Between parents and prospective prospects? Which parents are prospects? • What expertise might parents bring to our mission and our community that we aren’t currently tapping? • How can we map the trends Curtis most wishes to follow or understand, and then strategically recruit overseers (and/or other volunteers) around those trends? • Relying on a cross-departmental team, how can we knit together our various survey instruments to accomplish our overall data collection goals?
DIGITAL SPACE OPTIMIZATION The explosion of MOOCs has provided revelatory evidence of the landscape of opportunity presented in the digital space. Curtis’s success in globally engaging almost 100,000 learners and potential ambassadors for the school and music as a whole, while teaching students new vital skills, provides just one example of how “harnessing digital” develops our students while simultaneously developing audiences.
We will need to optimize current and emerging technologies to ensure our long-term success: whether creating a global, networked organization of students, faculty, and alumni; attracting gifted students from around the world; reaching and engaging a global musical community; and/or encouraging Curtis musicians to use technology to inspire, create, develop, and share their work with the world.
PAGE 37 Building facility and capacity in the digital space throughout the school—encompassing students, faculty, and staff, in and across all departments—is critical to Curtis’s ability to keep pace with its peers, let alone lead in the field. It will be essential to design an integrated complex of refreshed and complementary digital resources, supported by a staff structured to “work smart” and across departmental lines.
In order to optimize the digital space, Curtis will: Weave digital learning into all stages of the Curtis Musician Life Cycle, from current students to alumni in the late-stages of their career Develop and formalize curriculum and programming in order to build digital literacy and awareness to support performance-based initiatives and enterprise at school; promote career development post- graduation; and enhance academic enrichment at every opportunity Engage expert external consultation to assess existing curricular needs and patron engagement imperatives and the web-based properties that support each; identify ideal back-end and front-end tools to best serve these current needs; and recommend organizational structures and strategies to leverage the digital space in new and optimal ways In concert with Brand Proliferation themes and imperatives, overhaul and/or integrate Curtis.edu and all of the school’s web properties—Curtis Performs, Summerfest, Library sites, Active Data calendaring tool, plus new campaign-oriented property(ies)—to best serve students and those related to them (prospective students, faculty, library, Summerfest participants, lifelong-learning teams, and parents); patrons (fans, ticket buyers, donors, and volunteers); and a vibrant network of alumni around the world Seize the transitional opportunity to shift digital resources to cloud-based tools where appropriate, to encourage and support greater engagement and efficiency of use by students, alumni worldwide, faculty based outside of Philadelphia, and staff working on- and off-campus Evolve and invest in current internal and external digital communications tools (intranet, e-messaging and e-newsletters, etc., and new technologies) Actively solidify and/or expand our internal abilities—and internal and external opportunities—to proliferate Curtis audio and video digital content across channels and media to serve students while building brand currency Clarify Curtis’s role and sustainable goals for integrating lifelong-learning initiatives (e.g. MOOCs) as tools to teach students critical skills, engage alumni and faculty as guest instructors, share Curtis music, raise institutional visibility, and build advocacy for the art form
CREATIVE/POSITIVE DISRUPTION In order to adapt, learn, and continuously improve, Curtis needs to test old assumptions, ignite conversations, experiment, and explore new models and possibilities.
For ninety years, Curtis has set the standard for educating and training the finest young musicians in the world. But given the rapidly transforming field of music, the school cannot rest on its past achievements. To uphold the highest level of excellence, Curtis must always challenge itself by anticipating and adapting to change.
PAGE 38 Creative disruption should serve as a positive and vital catalyst to inspire change; with the guidance of the faculty and artistic leaders at the school, these disruptions will only strengthen the Curtis experience. To that end, Curtis will: Continuously experiment to explore new models and career paths for its students as they learn to invent their own 21st-century careers Continue to find opportunities to offer diverse musical perspectives to our students, develop strong relationships with alumni, and share our passion for music with a worldwide community Actively cultivate relationships with faculty, external partners, and overseers to expand the school’s awareness and scope of reference
BRAND PROLIFERATION To position Curtis—locally and globally—to broaden, deepen, and secure both the prospective student talent pool and the school’s base of support, the school must live its mission and deliver on its brand promise at every level and in every expression—whether through the programming students bring to audiences worldwide through Curtis On Tour, a printed season brochure for a potential audience member, a dynamic website to attract a prospective student, an e-appeal to alumni to support the Annual Fund, or a Coursera course designed to increase advocacy for the art form. A strategic and thoughtful approach to designing and positioning every “asset”—or expression of the brand—is crucial to delivering this brand promise successfully.
Curtis must articulate why it matters—and indeed, why music matters—in order to inspire the support necessary to propel the school toward its centenary. The school has unique and powerful tools (“content”) to leverage in this regard: live performances, video captures, the compelling stories of its students and faculty, and an astonishing record of alumni achievement. This content is the best expression of the Curtis brand. To proliferate it creatively across channels and platforms, Curtis will clearly define a content strategy (planning how and what to capture in order to tell the Curtis story); and a content marketing plan (specifying how best to share the content in a way that drives action). The goal is to deepen engagement and investment across all Curtis constituencies.
In order to continue enhancing the Curtis brand, we will: Create a fundraising case statement, supported by dynamic printed and online materials that reflect the Curtis brand, to communicate the school’s strategic priorities, inspire affiliation with the institution, and garner unprecedented levels of support Formalize integrated, strategic, cross-departmental processes for promoting initiatives that engage external constituents (Curtis On Tour, lifelong learning, Curtis Performs live streams and programming, All-School Project, Curtis Summerfest) to ensure brand positioning, maximize staff resources, and best engage constituents Overhaul and align printed and online resources and collateral to reflect the Curtis brand in optimal and intuitive ways, in an effort to increase engagement among all constituencies; such an effort will require significant research and development (as students, prospective students, and their families have very different needs than donors, prospective donors, and their cultivators, for example) and evolution of many assets from paper to digital environments (i.e., Overtones), as well as the introduction of new assets and resources (i.e., a networking environment for alumni)
PAGE 39 Integrate and proliferate the school’s evolved mission statement—as evidenced by the success and creativity of Curtis students, alumni, and curriculum—across channels and platforms, in material produced annually and for the campaign Develop strategic criteria and a disciplined process for assessing co-branding opportunities and collaborations to preserve the elevation of the Curtis brand, build meaningful alliances and relationships, and safeguard institutional resources Ensure appropriate staffing and funding with respect to digital resources and content generation to align content strategy goals, content marketing goals, and digital optimization goals—especially in support of the next iteration of Curtis.edu, the school’s most dynamic and promising tool for engaging constituents of all kinds and levels Leverage Data Mining and Trend Tracking themes and imperatives to identify and/or refine meaningful metrics that drive appropriate investment in brand resources and staffing
TRADITION OF EXCELLENCE AND INNOVATION Greatness is founded on tradition. To reach new heights, we need a firm foundation. But greatness is not only tradition. It requires the spark of creativity that takes us in new directions. That means innovation and change. Change is not always comfortable. But it is inevitable. And when it is supported by tradition and guided by a compelling vision, change can lead us toward something truly magnificent. Today Curtis is as we knew it before—but transformed, pulling us toward the future.
Roberto Díaz, president and CEO Remarks at the ribbon-cutting ceremony for Lenfest Hall September, 2011
PAGE 40 FUNDING THE STRATEGIC DIRECTION INITIATIVES
A number of factors will influence Curtis’s finances as we embark on the ten-year strategic direction and an accompanying campaign to considerably increase the endowment.
The preliminary ten-year financial model (see attached) details the revenue and expense assumptions associated with a more comprehensive case (Financial Scenario) that projects a need to raise $265 million in order to sustain current programmatic initiatives with term funding, new and expanded programs, and merit-based financial assistance.
Preliminary goals include: $200 million for endowment $ 15 million capital to fund renovation of 1726 Locust Street $ 50 million for annual operating support
= Total of $265 million by 2024
Once the Board of Trustees approves the strategic direction, Curtis will conduct a feasibility study to confirm or revise these preliminary goals, create a compelling case, and design a campaign structure to support a fundraising goal of this magnitude.
DETERMINING STRATEGIC PRIORITIES
Given the funding requirements, we will have to prioritize, make strategic choices, and determine the timing of implementation of initiatives.
Our highest priorities for funding include: • Safeguarding our tuition-free philosophy and practice to attract the finest young musicians from around the world • Ensuring that all students accepted to Curtis on the basis of merit will be able to attend regardless of financial need • Attracting and retaining outstanding faculty members • Drawing distinguished guest artists to Curtis for master classes and residencies • Continuing our core curriculum and the diverse program offerings developed between 2008 and 2014: - Curtis On Tour - Conducting Fellowship Program - Community Artist Program - String Quartet Program - ArtistYear Fellowships - Digital initiatives (including Curtis Performs, Media and Technology courses, MOOCs, etc.)
PAGE 41
NOTES ON FINANCIAL PROJECTION May 2015
The ten-year Financial Scenario that follows is a projection – a predictive model for planning purposes. This model has evolved over the past several months with additional information (clarified and amended assumptions, projected year-end results for FY2015 and revenue and expense projections for FY2016).
The following assumptions are incorporated into the model: (The model is constructed to be updated annually with actual results.)
Census: Student body 174 (increased from 164 in FY2011* due to addition of Quartet and ArtistYear programs) Faculty 111 (increase from 105 in FY2011*) Staff (FTE) 56 currently; anticipate staff will continue to grow to manage increased activity; +3 – 4 positions in FY2016 (increase from 49 in FY2011*)
*Last fiscal year before the opening of Lenfest Hall
Revenue Growth: Projected return on endowment 6.5% annually Endowment growth $200 million by 2024 (includes new gifts, receipt of outstanding pledges and planned gifts) Increased public support 3% annually Increased tour income Term funding of $500,000 for 3 years beginning in FY2016, then increased term funding and/or endowed funding Increased earned revenue 3% annually (ticket sales, summer programs, rentals, auditions, registrations, misc.) Increase in total revenues 7.3% average from FY2015 – FY2024
Operating and Capital Expense Assumptions Increased operating expenses 5.2% average from FY2015 – FY2024 (includes ongoing expenses for core programs, ongoing expenses for programs with term funding, additional human resources to support programs, Increased capital expenses Increased capital spending to support replacement costs in Lenfest Hall, new contributions to the capital expenditure reserve beginning in FY2018, Phased renovation of 1726 Locust Requires capital component of fundraising strategy ($10 – Street building 15 million)
PAGE 42 PAGE 43 Curtis Institute of Music
*Endowment at 5% Financial Projection For the ten years ending May 31, 2024 Includes Lenfest Hall Operations (6.5% Investment Return) FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 Budget Budget Estimate Estimate Estimate Estimate Estimate Estimate Estimate Estimate Income -
Endowment income* 9,549,464 10,262,030 11,536,036 12,829,151 14,141,664 15,473,864 16,826,047 18,198,513 19,591,565 21,005,514 Public support - annual giving 4,364,400 4,425,000 4,557,750 4,694,483 4,835,317 4,980,376 5,129,788 5,283,681 5,442,192 5,605,458 Tour income 445,000 622,500 661,200 1,184,800 1,244,040 1,306,242 1,371,554 1,440,132 1,512,138 1,587,745 Building income 2,045,000 2,237,700 2,304,831 2,373,976 2,445,195 2,518,551 2,594,108 2,671,931 2,752,089 2,834,651 Concert income 215,000 211,150 217,485 224,009 230,729 237,651 244,781 252,124 259,688 267,479 Other income 915,000 951,117 979,651 1,009,040 1,039,311 1,070,491 1,102,605 1,135,683 1,169,754 1,204,847 0 0 0 0 0 0 0 Total revenues 17,533,864 18,709,497 20,256,952 22,315,459 23,936,256 25,587,175 27,268,882 28,982,064 30,727,426 32,505,693 % change 6.70% 8.27% 10.16% 7.26% 6.90% 6.57% 6.28% 6.02% 5.79% Instructional costs -
Instrumental 2,585,000 2,745,507 2,910,237 3,084,852 3,269,943 3,466,139 3,674,108 3,894,554 4,128,227 4,375,921 Performance studies 1,150,000 1,157,437 1,226,883 1,300,496 1,378,526 1,461,238 1,548,912 1,641,847 1,740,357 1,844,779 Tour expenses 485,000 573,873 661,200 1,184,800 1,244,040 1,306,242 1,371,554 1,440,132 1,512,138 1,587,745 Vocal studies 1,370,000 1,524,491 1,615,960 1,712,918 1,815,693 1,924,635 2,040,113 2,162,520 2,292,271 2,429,807 Academic/theory/composition 810,000 881,819 934,728 990,812 1,050,261 1,113,276 1,180,073 1,250,877 1,325,930 1,405,486 Incremental programmatic staffing 0 0 150,000 154,500 159,135 163,909 168,826 173,891 179,108 184,481 Employee benefits 625,000 654,332 706,679 763,213 824,270 890,211 961,428 1,038,343 1,121,410 1,211,123 Total instructional costs 7,025,000 7,537,459 8,205,688 9,191,591 9,741,867 10,325,650 10,945,014 11,602,163 12,299,442 13,039,342 % change 7.29% 8.87% 12.01% 5.99% 5.99% 6.00% 6.00% 6.01% 6.02% Academic support and student services -
Library 475,000 499,960 524,958 551,206 578,766 607,705 638,090 669,994 703,494 738,669 Student services 740,000 778,415 817,336 858,203 901,113 946,168 993,477 1,043,151 1,095,308 1,150,073 Student aid and awards 1,475,000 1,621,960 1,703,058 1,788,211 1,877,621 1,971,503 2,070,078 2,173,582 2,282,261 2,396,374 Employee benefits 220,000 229,900 248,292 268,155 289,608 312,776 337,799 364,822 394,008 425,529 Total support and services 2,910,000 3,130,235 3,293,644 3,465,775 3,647,108 3,838,152 4,039,443 4,251,549 4,475,071 4,710,645 % change 7.57% 5.22% 5.23% 5.23% 5.24% 5.24% 5.25% 5.26% 5.26%
Operation and maintenance of plant -
Existing buildings/ongoing operations 975,000 1,011,900 1,042,257 1,073,525 1,105,730 1,138,902 1,173,069 1,208,262 1,244,509 1,281,845 Lenfest 2,150,000 2,296,850 2,365,756 2,436,728 2,509,830 2,585,125 2,662,679 2,742,559 2,824,836 2,909,581 3,125,000 3,308,750 3,408,013 3,510,253 3,615,560 3,724,027 3,835,748 3,950,821 4,069,345 4,191,426 % change 5.88% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
General institutional costs -
Executive, financial and other 2,390,000 2,463,486 2,537,391 2,613,512 2,691,918 2,772,675 2,855,855 2,941,531 3,029,777 3,120,670 Advancement 1,625,000 1,622,508 1,671,183 1,721,319 1,772,958 1,826,147 1,880,931 1,937,359 1,995,480 2,055,345 Employee benefits 845,000 884,233 954,972 1,031,369 1,113,879 1,202,989 1,299,228 1,403,167 1,515,420 1,636,654 Total general institutional costs 4,860,000 4,970,227 5,163,545 5,366,200 5,578,755 5,801,811 6,036,015 6,282,057 6,540,677 6,812,669 % change 2.27% 3.89% 3.92% 3.96% 4.00% 4.04% 4.08% 4.12% 4.16% Total expenditures 17,920,000 18,946,671 20,070,890 21,533,819 22,583,291 23,689,641 24,856,220 26,086,589 27,384,535 28,754,080 % change 5.73% 5.93% 7.29% 4.87% 4.90% 4.92% 4.95% 4.98% 5.00% Operating expense reserve (105,000) (59,150) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) Net surplus (deficit) - excluding capital (281,136) (178,024) 286,062 881,640 1,452,966 1,997,534 2,512,662 2,995,475 3,442,891 3,851,613 Spending rate - actual 5.1% 5.1% 4.9% 4.7% 4.5% 4.4% 4.3% 4.2% 4.1% 4.1%
Capital spending 225,000 225,000 250,000 300,000 309,000 318,270 327,818 337,653 347,782 358,216 Capital expenditure reserve (Note 1) 0 0 0 100,000 100,000 100,000 100,000 100,000 100,000 100,000 225,000 225,000 250,000 400,000 409,000 418,270 427,818 437,653 447,782 458,216
Net surplus (deficit) - including capital (506,136) (403,024) 36,062 481,640 1,043,966 1,579,264 2,084,844 2,557,822 2,995,109 3,393,397
Spending rate - actual 5.3% 5.2% 5.0% 4.8% 4.6% 4.5% 4.4% 4.3% 4.2% 4.2%
Rolling 12/20 quarter average endowment value 190,989,278 205,240,604 230,720,715 256,583,027 282,833,274 309,477,274 336,520,935 363,970,250 391,831,306 420,110,277 Additions (includes planned giving gifts below) 10,691,537 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 Add: shortfall from FY15 receipts across future projection 0 1,034,274 1,034,274 1,034,274 1,034,274 1,034,274 1,034,274 1,034,274 1,034,274 1,034,274 201,680,815 226,274,878 251,754,988 277,617,301 303,867,547 330,511,548 357,555,209 385,004,524 412,865,579 441,144,550 Investment return at 6.5% 13,109,253 14,707,867 16,364,074 18,045,125 19,751,391 21,483,251 23,241,089 25,025,294 26,836,263 28,674,396 Current Year Endowment Draw at 5% (9,549,464) (10,262,030) (11,536,036) (12,829,151) (14,141,664) (15,473,864) (16,826,047) (18,198,513) (19,591,565) (21,005,514) Projected 12/20 quarter average endowment value 205,240,604 230,720,715 256,583,027 282,833,274 309,477,274 336,520,935 363,970,250 391,831,306 420,110,277 448,813,432 Subsequent Year Endowment Draw at 5% 10,262,030 11,536,036 12,829,151 14,141,664 15,473,864 16,826,047 18,198,513 19,591,565 21,005,514 22,440,672
Note 1 - Capital expenditure reserve balance $1,000,000 as of 5/31/14 Note 2 - Average endowment using 12 rolling quarters for Fye 5/31/15 and 20 rolling quarters for subsequent years
Expected receipt of outstanding pledges and planned giving gift 4,018,720 3,233,372 4,041,000 2,200,000 3,502,000 0 582,000 300,000 9,300,000 6,650,000 Total 33,827,092 Major improvements to facilities ($10mm - $15mm) 5,000,000 5,000,000 5,000,000
Assumptions
Endowment income Endowment return on investment of 6.5% Rolling 12 quarter average through Fye 5/31/16, rolling 20 quarter average Fye 5/31/17 and after Endowment additions - includes anticipated receipt of existing outstanding pledges and planned giving gifts Spending rate decrease of 5.3% in Fye 5/31/15 to 4.2% in Fye 5/31/24
Annual Fund revenue - increases of 3% annually
Other revenue - increases of 3% annually
Enrollment - 174 students in each year
Expenses Total expenses - average annual increase of 5.4%
Operating expense reserve - use $100,000 annually beginning Fye 5/31/17 and subsequent years
Capital spending
Increase to $250,000 in Fye 5/31/17 and $300,000 in Fye 5/31/18, then increase 3% in subsequent years to replace Lenfest Hall equipment PAGE 44 Major improvements to facilities ($10mm - $15mm) over 3 to 5 years P AGE 45 PROPOSED CURTIS FUNDRAISING TIMELINE Draft - As of April 29, 2015
SPECIAL FUNDRAISING: QUIET PHASE SPECIAL FUNDRAISING: PUBLIC PHASE CENTENARY FALL 2013 - FALL 2017 (anticipated) FALL 2017 - SPRING 2024 FALL 2024 Strategic Direction Work ¬ Campaign Organization ¬ Trustee Drive & Lead Gifts Major Gifts ¬ Friends & Family Drive ¬ General Public Drive Formal Campaign Conclusion Goal: $135M+ for Endowment; $15M for Capital Goal: $65M for Endowment Announcement: $265M raised (launched @ $150M raised)
ONGOING FUNDRAISING: ANNUAL FUND FALL 2015 - SPRING 2024 Annual Giving Drive & Optimization of Digital Strategy Goal: $50M for Operating and Program Support (10 years)
MILESTONES/TARGETS: May 2015 90th-Anniversary Gala Sept. 2015 Alumni Reunion Feb. 2016 Carnegie Hall CSO May 2016 Opera Gala/Celebration Fall 2017 Campaign Announcement/Public Launch Spring 2020 95th-Anniversary Gala; Close of Active Fundraising Fall 2024 Centenary Celebration; Formal Campaign Conclusion CURTIS CAMPAIGN PRELIMINARY GOALS Draft - as of April 29, 2015
Recommended Primary Campaign Objectives:
ENDOWMENT: Double Curtis endowment ($200M)
CAPITAL: Fund renovation of Main Building at 1726 Locust Street (up to $15M)
OPERATING: Strengthen Annual Fund up to Centenary ($50M)
$50M Significant Naming Opportunities to include:
$15M Main building $50M+ (1726 Locust Street)
Curtis On Tour $50M+ $200M Major Departments $25M (Piano, Strings, Opera)
Center for Technology $10M and Innovation
Conducting Program $5M
Quartet Program $5M
Social Entrepreneur Programs $1M-$5M (ArtistYear, CAP)
TOTAL = $265M
PAGE 46 CURTIS FUNDRAISING PLANNING PRIORITIES – SUMMER 2015 Draft - As of April 29, 2015
• Actively continue cultivation e orts and activities with key prospects through Curtis On Tour, personal visits, and other outreach
• Analyze wealth screening and predictive modeling data to inform goals, gift pyramid, timeline, and portfolio assignments
• Engage campaign consultant to advise on strategies for lead gift prospects, assess/re ne naming opportunities, and build capacity for international fundraising
• Engage digital strategy consultant to assess Curtis’s current digital state and make recommendations for the next iteration of Curtis.edu and integration/evolution of the school’s myriad online environments and e-communications
• Hire major gifts o cer to expand coverage for donors and prospects in strategic markets
• Hire digital projects coordinator to work across departments and platforms to coordinate, support, and optimize Curtis’s evolving digital presence
• Formalize long-term Annual Fund strategy and metrics to ensure coordination and appropriate support as major gift activity accelerates
• Develop key message points for 2015-16 and necessary collateral/templates (print and digital)
• Re ne/a rm gift acceptance guidelines and planned giving strategy
• Align cultivation opportunities with 2015-16 season, touring activities, and President’s performance schedule; solidify strategic long-term locations for Curtis On Tour
• Formalize campaign leadership structure and mobilize committee
• Develop alumni network/leadership structure for unveiling at September 2015 reunion P AGE 47