2015-16 Annual Report

201 5 – 1 6
A N N UA L
R E P O R T
C U R T I S I N S T I T UTE O F MUSIC

2
STRATEGIC DIRECTION
In May of 2015, the Board of Trustees of the Curtis Institute of
Music approved a bold new strategic direction, designed to guide
the school as we approach our centenary in 2024. Recognizing
the changing landscape of music education, as well as the rapid
rate of change in the expectations of classical music audiences,
Curtis articulated ambitious goals that would help us meet—and
exceed—the demands of the future.
a family, we
‘‘As
unite during times
of hard work, share
in our successes,
and encourage one
another to continue
to take bold steps
’’
toward our goals.
Having finished the first year of implementing this visionary plan, we can
already feel a sense of accomplishment around the progress that has been made,
detailed on pages 4 through 7 of this report. Of course there is more to do,
and our dedicated efforts continue. The 2015–16 school year was also one
of continued fiscal stability, as reported on page 3.
As always at this time of year, we are reminded that Curtis truly is a family.
As a family, we unite during times of hard work, share in our successes, and
encourage one another to continue to take bold steps toward our goals. There
is so much to be grateful for: a strong and healthy organization; the generosity
and engagement of our donors; the guidance and encouragement of our trustees;
the dedicated service of our staff; the unmatched artistry and commitment
of our faculty. And, of course, we are thankful to our students, who leave so
much of themselves on the stage each time they play, and for whom we have
undertaken the vital work of this strategic direction.
With tremendous gratitude,
A complete list of
2015–16 donors to Curtis
is at www.curtis.edu/
AnnualReport.
Nina Baroness von Maltzahn
Chair
Board of Trustees
Roberto Díaz
President and CEO
Nina von Maltzahn President’s Chair
James and Betty Matarese Chair in Viola Studies

ANNUAL REPORT 2015–16 3
FINANCIAL SUMMARY 2015–16
PRELIMINARY PRE-AUDIT FIGURES
Combined endowments of the Curtis Institute of Music and the Mary Louise Curtis Bok Foundation (as of May 31, 2016):
OTHER 3.0%
STUDENT FEES 5.4%
TICKETS 1.2%
$216,575,000
LENFEST HALL 11.7%
OPERATING REVENUES
TOTAL $18,674,000
ENDOWMENT INCOME 55.0%
CONTRIBUTIONS 23.7%
When available, audited financial
statements will be posted at
www.curtis.edu/AnnualReport.
ACADEMIC/STUDENT SUPPORT 8.0%
STUDENT FINANCIAL AID 8.6%
INSTITUTIONAL SUPPORT 26.2%
OPERATING EXPENSES
TOTAL $18,421,000
LENFEST HALL 12.1%
INSTRUCTIONAL SUPPORT 39.8%
OTHER PHYSICAL/MAINTENANCE 5.3%
Financial results for the fiscal year ended May 31, 2016 were on budget, which included an anticipated
draw against the operating expense reserve in the amount of $86,727. This resulted in an operating expense
reserve available for use in future years of $784,877. The operating reserve was accumulated over several
years to address downturns in the economy that might impact the Curtis endowment and the draw available
to fund operations, including the opening and initial years of Lenfest Hall. Curtis also maintains a capital
expenditure reserve account of $1 million for unexpected capital repairs.

4
STRATEGIC DIRECTION
MILESTONES 2015–16
During the 2015–16 school year Curtis made significant progress against goals in all areas of its strategic direction.
ALUMNI
4,086
MUSICIANS HAVE
GRADUATED FROM CURTIS
SINCE ITS FOUNDING.
OF THESE,
2,843
LIVING ALUMNI
RESIDE IN
48
STATES
(PLUS WASHINGTON, D.C.,
AND PUERTO RICO)
AND
38
COUNTRIES
Learn more about
Curtis alumni and the
new alumni network at
www.curtis.edu/Alumni.
CURTIS MUSICIAN LIFE CYCLE
IN 2015-16 GOAL
Curtis will expand its focus and attend to every aspect of the musician life
cycle—from entering Curtis, through the student experience, to alumni
life after Curtis—to create a global, networked organization of engaged
lifelong learners and leaders.
n
n
n
Strategic shifts in the application process streamlined auditions and gave our faculty
members a more holistic view of applicants.
Our redoubled efforts to engage and support alumni set the stage for a flexible,
volunteer-driven alumni network.
Fellowship programs, now fully established, offered our musicians opportunities
to bridge the challenging years between student life and professional careers.
‘‘ time with the orchestra. But also due to Yannick [Nézet-Séguin], who has helped me find
’’
‘‘
CONDUCTING FELLOWSHIPS
The conducting program at Curtis has been the biggest gift in my life so far. …
It’s been a huge two years of growth—due to the nature of the program, which is so much
my presence, and sort of honed and polished this prism through which I communicate
my ideas. … I’m really grateful for that.
—Edward Poll (Conducting ’16)
ARTISTYEAR FELLOWSHIPS
Curtis ArtistYear has been an inspiring reminder as to why I chose music in the first
place. It has helped me grow as an artist and as a person. Moving forward, I would like
to curate a multi-faceted career that involves performing in an orchestra, playing chamber
music, teaching, and of course, playing in healthcare. My time as a Curtis ArtistYear
fellow may be drawing to a close, but I will continue to carry the life lessons it has taught
me for years to come.
’’
—Anna Odell (Harp ’15, ArtistYear ’16)

ANNUAL REPORT 2015–16 5
GLOBAL MUSICAL COMMUNITY
IN 2015-16 GOAL
Curtis will expand its focus beyond the Philadelphia campus, broadening
its reach and impact to attract gifted students from all corners of the
world, and expanding its base of support by sharing its excellence with
local and global musical communities.
n
n
n
n
An expanded Curtis on Tour brought the excellence of Curtis music-making—and
the power of the Curtis brand—to more national and international venues.
Partnerships with international media and public relations firms built foreign media
exposure for the school.
Curtis Summerfest attracted students from overseas, who became advocates for
Curtis when they returned home.
A new weekly series of live-streamed recitals launched on the Curtis Performs
platform, moving Curtis toward a more vibrant presence in the digital space.
CURTIS ON TOUR DESTINATIONS
STUDENTS
174
STUDENTS
FROM
31
STATES
AND
19
COUNTRIES
CURTIS PERFORMS
16,413
VISITORS
FROM
3,522
CITIES
ACROSS
127
COUNTRIES
Curtis performances
in high-definition video
are at www.curtis.edu/
CurtisPerforms.
‘‘
CURTIS ON TOUR
One of the most rewarding experiences I’ve had, and will always remember, is Curtis on
Tour. … Every time the school would announce a possible tour, I would feel extremely
’’
lucky to be studying at a place that offers so much to the students. I was very fortunate
to participate in numerous tours in America, Europe, and Asia.
—Timotheos Petrin (Cello)

6
STRATEGIC DIRECTION
PROGRAMS, TEACHING MODEL,
AND EXPERIENTIAL LEARNING
LEARN BY DOING
200+
PERFORMANCES
108
FREE STUDENT RECITALS
FACULTY : STUDENT
RATIO
111:174
FACULTY : STUDENTS
IN 2015-16 GOAL
Curtis will ensure that the special performance faculty-student relationship
continues, and will enhance its curriculum and teaching model. 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.
n
n
Performances took place in a wide range of traditional and alternative venues,
in partnership with many local arts groups and community-based organizations.
A redesigned career studies curriculum incorporated a required course in social
entrepreneurship, among other enhancements.
n The musical studies core curriculum was redesigned to allow for a mix of lectures,
small-group meetings, and private sessions with musical studies faculty.
n
A new, dedicated Curtis 20/21 Ensemble series focused on the Darmstadt school
of the mid-20th century, connecting the performance program closely to the
all-school project.
‘‘ a conservatory, it would be radical—not unlike the movement itself. ... These composers
’’
ALL-SCHOOL PROJECT
The music of the Darmstadt school of composers had fascinated me in my youth.
I instinctively knew that it could offer us an entirely new angle to explore artistically. For
open your eyes. I hope our students will emerge thinking of this music not as difficult,
but simply as part of the landscape of music.
—Mikael Eliasen, Hirsig Family Dean of Vocal Studies
and artistic director of the Curtis Opera Theatre
More information and video conversations about the Darmstadt
all-school project are at www.curtis.edu/Darmstadt.

ANNUAL REPORT 2015–16 7
FINANCIAL FUTURE
IN 2015-16 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.
n
n
Departing board chair Nina von Maltzahn committed an extraordinary endowment
gift of $55 million to Curtis, to support the education of our students in the long term.
Curtis named two programs in her honor: Curtis on Tour, the Nina von Maltzahn
Global Touring Initiative, and the Nina von Maltzahn String Quartet Program.
Support for the Curtis Annual Fund totaled nearly $3.7 million from 1,582 contributors,
including alumni, parents, trustees, overseers, corporations, foundations, and Friends
of Curtis.
ORGANIZATIONAL STRUCTURE
IN 2015-16 GOAL
Curtis will design an organizational structure to support the strategic
direction and fulfill its bold intentions. Like the strategic direction,
the organizational structure will be dynamic and flexible, able to adapt
to opportunities and challenges in real time.
n
n
n
Curtis restructured its leadership team to meet the current needs and priorities
of the school.
Curtis continued to expand the depth and breadth of the boards of trustees
and overseers, adding national and international members.
A new committee of the board of trustees convened to chart the school’s
digital direction.
A complete list of
2015–16 donors to Curtis
is at www.curtis.edu/
AnnualReport.

BOARD OF TRUSTEES OF THE CURTIS INSTITUTE OF MUSIC 2015–16
Nina Baroness von Maltzahn, chair
Edward A. Montgomery Jr., vice chairman
Robert H. Mundheim, vice chairman
Deborah M. Fretz, treasurer
Betty H. Matarese, secretary
Nina Albert
Frank S. Bayley
Victoria Bok
Mia Chung
Anthony B. Creamer III
Roberto Díaz
Gordon Fowler
Bruce Jay Gould, M.D.
Jennifer Higdon
Alan R. Hirsig
Marsha Hunter, alumni trustee
Linda E. Johnson
Harry T. Lee
Lisa Liem
Sueyun P. Locks
Daniel Matsukawa
John H. McFadden
Frank J. Mechura
John J. Medveckis
Lowell J. Noteboom, overseers trustee
Eric Owens
William H. Roberts
Robert H. Rock
Mark E. Rubenstein
Brett Rubinson
Chiona Schwarz
Samuel R. Shipley III
Mark Steinberger, Friends trustee
William R. Stensrud
Jay H. Tolson
Elizabeth Vale
Dean Vetsikas, Crescendo Club trustee
Penelope P. Watkins
HONORARY TRUSTEES
A. Margaret “Stormy” Bok
Milton L. Rock, Ph.D.
TRUSTEES EMERITI
H. F. “Gerry” Lenfest, chairman emeritus
Peter A. Benoliel
Sheldon M. Bonovitz
Luther W. Brady, M.D.
Carolyn S. Burger
Joseph M. Field
Scott M. Jenkins
Bobby Ellen Kimbel, Ph.D.
James R. “Robin” Ledwith
Bong S. Lee, M.D.
Christina Weiss Lurie
John A. Nyheim
Albert E. Piscopo
Robert Pollack
Amanda W. Smoot
MARY LOUISE CURTIS BOK FOUNDATION BOARD OF DIRECTORS 2015–16
Samuel R. Shipley III, president
Victoria Bok, vice president
Joseph M. Field, secretary
Bayard R. Fiechter, treasurer
Joseph Slater, assistant treasurer
A. Margaret “Stormy” Bok
Gary Graffman
Scott M. Jenkins
James R. “Robin” Ledwith
Milton L. Rock, Ph.D.
BOARD OF OVERSEERS OF THE CURTIS INSTITUTE OF MUSIC 2015–16
Lowell J. Noteboom, chairman
Catherine French, vice chair
C. Richard Neu, vice chairman
Gabrielle Kazze Rinaldi, secretary
Adrian Anantawan
Paul J. Arnold
Cynthia Bayley
Peter A. Benoliel
Nicky Carpenter
NancyBell Coe
Joseph Conyers
Bruce Coppock
George M. Elvin
Mary Lou Falcone
Sally Feder
Susan Feder
David V. Foster
Pamela Frank
Marian Godfrey
Susan L. Graham
George Hecksher
Sarah Johnson
Plato Karayanis
Eugene Keilin
Robert A. Kipp
Joseph H. Kluger
Marguerite Lenfest
Jan M. Lodal
Countess Sabine Lovatelli
Sarah S. Lutman
Charles MacKay
Thomas D. McCarthy
Anthony McGill
Douglas McLennan
Joan M. Moran
Thomas W. Morris
Stephanie W. Naidoff
Anne Parsons
Juan Luis Prieto J
John Rockwell
Jesse Rosen
Pamela Rosenberg
Don Roth
Marc A. Scorca
Frederick Sewell
Stanley M. Spracker
William R. Stensrud
Matías Tarnopolsky
Philip Taylor
Marylea van Daalen
Allison Vulgamore
Thomas Wolf
OVERSEERS EMERITI
A. Margaret “Stormy” Bok
Milton L. Rock, Ph.D.
Enid Curtis Bok Schoettle