2026-05-15T08:29:11-05:00 2025-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2024-07-01 340714600 CLEVELAND INSTITUTE OF MUSIC CLEV 2167915000 11021 EAST BLVD CLEVELAND OH 44106 JOSEPH LAWRENCE INTERIM DIRECTOR OF FINANCE 2167915000 2026-05-15 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2024 2025-03-06 01:10:19Z JOSEPH LAWRENCE 11021 EAST BLVD CLEVELAND OH 44106 51099610 0 X WWW.CIM.EDU X 1920 OH TO EMPOWER THE WORLD'S MOST TALENTED CLASSICAL MUSIC STUDENTS TO FULFILL THEIR DREAMS&POTENTIAL. 25 25 419 115 1035612 1034113 12220718 7677750 20391820 18281335 4297813 6925677 60308 89683 36970659 32974445 9819340 9258592 0 0 12217800 10985117 0 0 1608630 9806484 9394700 31843624 29638409 5127035 3336036 152914752 161968631 45083906 48383916 107830846 113584715 X THE CLEVELAND INSTITUTE OF MUSIC'S MISSION IS TO EMPOWER THE WORLD'S MOST TALENTED CLASSICAL MUSIC STUDENTS TO FULFILL THEIR DREAMS AND POTENTIAL. 0 0 19091979 9258592 18256267 SEE SCHEDULE OTHE CLEVELAND INSTITUTE OF MUSIC IS ONE OF JUST SEVEN INDEPENDENT CONSERVATORIES OF MUSIC IN THE UNITED STATES, ONE OF THREE DEVOTED EXCLUSIVELY TO CLASSICAL MUSIC PERFORMANCE. CIM STUDENTS BENEFIT FROM ACCESS TO WORLD-RENOWNED VISITING ARTISTS AND CONDUCTORS, INTENSIVE STUDY WITH CIM'S STELLAR FACULTY AND THE RICH CURRICULUM OFFERED BY CIM'S PARTNER CASE WESTERN RESERVE UNIVERSITY. CIM'S GRADUATES COMMAND THE MOST CELEBRATED AND REVERED STAGES IN THE WORLD AS SOLOISTS, CHAMBER MUSICIANS AND ENSEMBLE MEMBERS; COMPOSE AWARD-WINNING REPERTOIRE; AND ARE SOUGHT-AFTER TEACHING ARTISTS, ADMINISTRATORS AND THOUGHT LEADERS. MORE THAN HALF OF THE MEMBERS OF THE CLEVELAND ORCHESTRA ARE CONNECTED TO CIM AS MEMBERS OF THE FACULTY, ALUMNI OR BOTH. CIM'S PREPARATORY AND CONTINUING EDUCATION PROVIDES PRIVATE AND GROUP LESSONS, CLASSES AND ENSEMBLES. CIM IS AN INTEGRAL PART OF CLEVELAND'S ARTS COMMUNITY PRESENTING 425 FREE PERFORMANCES AND MASTER CLASSES ON CAMPUS AND THROUGHOUT THE COMMUNITY THIS YEAR. DURING THIS FISCAL YEAR, CIM OFFERED APPROXIMATELY $9.3 MILLION OF SCHOLARSHIPS AND FINANCIAL AID TO ITS STUDENTS. 19091979 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 114 0 1 419 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X JOSEPH LAWRENCE 2167915000 11021 EAST BLVD CLEVELAND OH 44106 ANDERSON A CHACE TRUSTEE 1.00 X 0 0 0 BAN STEPHEN P TRUSTEE 1.00 X 0 0 0 BASSETT CYNTHIA TRUSTEE 1.00 X 0 0 0 BEEDLES MICHAEL W TRUSTEE 1.00 X 0 0 0 BOWER ERIC W TRUSTEE & VICE CHAIR 1.00 X X 0 0 0 BROWN DANIEL J TRUSTEE 1.00 X 0 0 0 BUESCHER ANN TRUSTEE 1.00 X 0 0 0 CARMI IRAD TRUSTEE 1.00 X 0 0 0 CONRAD ROBERT TRUSTEE (UNTIL 12/24) 1.00 X 0 0 0 COOK BONNIE TRUSTEE & SECRETARY 1.00 X X 0 0 0 COOLEY III CHARLES P TRUSTEE 1.00 X 0 0 0 DAVIS JEFFREY M TRUSTEE 1.00 X 0 0 0 HARVIE C THOMAS TRUSTEE 1.00 X 0 0 0 HEAREY BRUCE TRUSTEE 1.00 X 0 0 0 HIPPLE RICHARD J TRUSTEE 1.00 X 0 0 0 KJOME PETER TRUSTEE 1.00 X 0 0 0 LINTON JEFFREY B TRUSTEE 1.00 X 0 0 0 MALCOLM JOHN L TRUSTEE 1.00 X 0 0 0 MARSTON CHARLES SULLIVAN TRUSTEE 1.00 X 0 0 0 MEYERHOEFER TRENT M TRUSTEE (UNTIL 2/25) 1.00 X 0 0 0 MINOFF ROY TRUSTEE 1.00 X 0 0 0 REDMOND KATRINA TRUSTEE & TREASURER 1.00 X X 0 0 0 RILEY SHAWN M TRUSTEE 1.00 X 0 0 0 ROTHMANN PHD SUSAN A TRUSTEE & CHAIR 1.00 X X 0 0 0 SCHLANG ELLIOTT L TRUSTEE 1.00 X 0 0 0 STEIN KEVIN TRUSTEE & VICE CHAIR 1.00 X X 0 0 0 THOMAS JOSEPH H TRUSTEE 1.00 X 0 0 0 WATSON SANFORD E TRUSTEE 1.00 X 0 0 0 HOGLE PAUL W PRESIDENT, CEO 40.00 X 511462 0 48993 HARRISON SCOTT EXECUTIVE VP & PROVOST 40.00 X 228706 0 41051 FOSS BRIAN J CFO 40.00 X 199670 0 12191 BEST SARAH ASST. SECRETARY 40.00 X 61338 0 6162 SOUTHERN DEAN VP ACADEMIC & STUDENT AFFAIRS, DEAN OF INSITUTE 40.00 X 208339 0 13373 DROHAN KATHLEEN CHIEF MARKETING OFFICER 40.00 X 156840 0 17699 LITZLER MARK CHIEF DEVELOPMENT OFFICER 40.00 X 172238 0 17262 KALER ILYA L FACULTY 40.00 X 149324 0 47037 IRVINE JEFFREY FACULTY 40.00 X 144565 0 535 LAREDO JAIME FACULTY 40.00 X 144753 0 8570 ROBINSON SHARON FACULTY 40.00 X 145294 0 8655 LI SI-YAN DARREN FACULTY 40.00 X 132536 0 11903 2255065 0 233431 23 0 1 0 TURNER CONSTRUCTION CO 1422 EUCLID AVE STE 200 CLEVELAND OH 44115 CONSTRUCTION 3651834 OGLETREE DEAKINS NASH SMOAK PO BOX 89 COLUMBIA SC 29202 LEGAL SERVICES 245400 J KURTZ ARCHITECTS 6212 CARNEGIE AVE CLEVELAND OH 44106 CONSTRUCTION 104628 0 5975 595477 7076298 226113 7677750 TUITION AND FEES 611310 15485641 15485641 DORM REVENUE 611310 2605382 2605382 PARKING REVENUE 611310 48409 48409 TICKET SALES 611310 26506 26506 RECORDING SERVICES 611310 8930 8930 106467 106467 18281335 3468443 1032280 2436163 12900 0 12900 12900 3332 9568 21499839 5000 18047605 0 3452234 5000 3457234 3457234 179411 5975 77560 101851 101851 NET DECR.IN PERKINS ICC 900099 -25068 -25068 -25068 32974445 18256267 1035612 6004816 9258592 9258592 1552400 19775 1203950 328675 8093500 7087130 99769 906601 67923 44466 4575 18882 578426 424420 90183 63823 692868 520552 123682 48634 482327 132777 349550 76995 76995 62538 62538 178171 178171 696450 370283 291443 34724 57675 36250 21425 624362 242552 311497 70313 284437 70506 164296 49635 1309503 424145 885358 207057 197355 9000 702 124169 85024 15045 24100 2048489 2048489 2888418 2888418 281346 129047 152299 MISCELLANEOUS 72763 49105 23655 3 29638409 19091979 8937800 1608630 12008791 7199436 9525482 8488019 331286 758083 424056 293861 186113 413231 105168522 35842283 59374078 69326239 42980410 39772861 28084536 35716901 152914752 161968631 2948330 3732113 68895 0 41898014 44616804 168667 34999 45083906 48383916 X 65045322 68059787 42785524 45524928 107830846 113584715 152914752 161968631 3336036 2417833 0 X 0 1 X 1 1 1 X 7175567 20005618 10008645 12220718 7677750 57088298 7175567 20005618 10008645 12220718 7677750 57088298 16238102 40850196 856392 1106424 1734026 2566318 2445731 8708891 159540 109261 89659 33703 1137463 1529626 402887 32307 38588 1333 -25068 450047 67776862 95969424 0.60270 0.61090 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2020 AMOUNT: $ 402,887. 2021 AMOUNT: $ 32,307. 2022 AMOUNT: $ 38,588. 2023 AMOUNT: $ 1,333. 2024 AMOUNT: $ -25,068. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 62500 0 0 62500 0 PART II-B, LINE 1: CIM RETAINED A LOBBYIST TO ADVOCATE IN COLUMBUS, OHIO FOR FUNDING SUPPORT. IT ALSO CONTRIBUTED TO THE ARTS LEVY CAMPAIGN. 79978 0 64758507 1949665 8506964 3144223 884560 71186353 53791611 2970744 13865049 2630249 3238648 64758507 55639426 2599020 7493895 2574303 9366427 53791611 64977575 562893 -7415444 2485598 55639426 52173163 775951 14213149 2184688 64977575 0.43165 0.56835 0.00000 1 0 1063536 1063536 76759890 28058694 48701196 3720892 3574219 146673 23624204 4209370 19414834 69326239 ALTERNATIVE INVESTMENTS 35716901 F 35716901 U.S. GOVERNMENT GRANTS REFUNDABLE 34999 34999 26122335 2417833 89260 77560 2584653 23537682 178171 9258592 9436763 32974445 20368466 89260 77560 166820 20201646 178171 9258592 9436763 29638409 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE INSTITUTE'S ENDOWMENT CONSISTS OF 260 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES THAT SUPPORT THE EDUCATIONAL MISSION OF THE INSTITUTE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES NETTED WITH REVENUE ON PART VIII OF FORM 990 77,560. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990 9,258,592. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES NETTED WITH REVENUE ON PART VIII OF FORM 990 77,560. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990 9,258,592. PART V - ADDITIONAL INFORMATION ABOUT ENDOWMENT FUNDS: AS PART OF THE FINANCIAL STATEMENT AUDIT PROCESS, THE INDEPENDENT AUDIT FIRM RESTATED THE ENDOWMENT ASSETS BALANCE FOR THE YEAR ENDED JUNE 30, 2023. THIS RESTATEMENT DECREASED BOARD DESIGNATED ENDOWMENT FUNDS BY $9,366,427. THIS DECREASE HAS BEEN SHOWN ON LINE 1F IN THE "TWO YEARS BACK" COLUMN. AS THERE IS NO OTHER LINE ITEM IN PART V FOR THIS ADJUSTMENT, WE HAVE ARBITRARILY USED THE ADMINISTRATIVE EXPENSES LINE EVEN THOUGH THIS ADJUSTMENT DOES NOT RELATE TO ANY ADMINISTRATIVE EXPENSES. FOR THE "CURRENT YEAR" COLUMN, WE HAVE LISTED A NEGATIVE ADJUSMENT ON LINE 1F OF $884,560 WHICH REPRESENTS THE RELEASE OF BOARD DESIGNATED ASSETS. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NEWSPAPER OR BROADCAST MEDIA IS NOT USED FOR STUDENT RECRUITMENT. HOWEVER, A STATEMENT OF THE INSTITUTE'S RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IS INCLUDED IN THE INSTITUTE'S CATALOG, WHICH CAN ALSO BE FOUND ON THE INSTITUTE'S WEBSITE. THE FOLLOWING IS THE INSTITUTE'S POLICY ON NONDISCRIMINATORY ADMISSION AS REAFFIRMED BY THE BOARD OF TRUSTEES: IN THE ADMINISTRATION OF ITS EDUCATIONAL AND ADMISSION POLICIES, SCHOLARSHIP, LOAN, AND OTHER SCHOOL-ADMINISTERED PROGRAMS, THE CLEVELAND INSTITUTE OF MUSIC IS COMMITTED TO NONDISCRIMINATION AND EQUAL OPPORTUNITY. THE INSTITUTE ADMITS STUDENTS TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL REGARDLESS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, CITIZENSHIP, RELIGION, AGE, SEX, SEXUAL ORIENTATION, OR DISABILITY. SCHEDULE E, PART I, LINE 6 FINANCIAL AID OR GOVERNMENT ASSISTANCE - THE FOLLOWING ASSISTANCE IS RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION: FEDERAL DIRECT PLUS LOAN FEDERAL PERKINS LOAN FEDERAL WORK-STUDY SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PELL GRANT CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 12993337 0 0 0 0 0 0 12993337 0 12993337 1 0 0 0 1 0 LUMINARIES 185386 5975 179411 24226 46801 6533 185386 5975 179411 24226 46801 6533 77560 101851 1 INSTITUTIONAL SCHOLARSHIPS 247 8959394 0 WORK-STUDY 72 91373 0 SEOG 27 19125 0 STUDENT ASSISTANCE 50 188700 0 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - CLEVELAND INSTITUTE OF MUSIC CREDITS THE GRANTS AND OTHER ASSISTANCE DIRECTLY TO THE STUDENTS' ACCOUNTS AND THEREFORE ENSURES THAT THE FUNDS ARE SPENT FOR EDUCATIONAL PURPOSES. WORK-STUDY AND AUDITION ASSISTANCE ARE PAID DIRECTLY TO THE STUDENTS WHEN EARNED OR INCURRED. X X X 0 0 0 0 0 0 0 1 0 HOGLE PAUL W PRESIDENT, CEO 511462 0 0 0 0 0 22800 0 26193 0 560455 0 0 0 HARRISON SCOTT EXECUTIVE VP & PROVOST 228706 0 0 0 0 0 12928 0 28123 0 269757 0 0 0 SOUTHERN DEAN VP ACADEMIC & STUDENT AFFAIRS, DEAN 208339 0 0 0 0 0 0 0 13373 0 221712 0 0 0 FOSS BRIAN J CFO 199670 0 0 0 0 0 10667 0 1524 0 211861 0 0 0 KALER ILYA L FACULTY 149324 0 0 0 0 0 8977 0 38060 0 196361 0 0 0 LITZLER MARK CHIEF DEVELOPMENT OFFICER 172238 0 0 0 0 0 7673 0 9589 0 189500 0 0 0 DROHAN KATHLEEN CHIEF MARKETING OFFICER 156840 0 0 0 0 0 7467 0 10232 0 174539 0 0 0 ROBINSON SHARON FACULTY 145294 0 0 0 0 0 7673 0 982 0 153949 0 0 0 LAREDO JAIME FACULTY 144753 0 0 0 0 0 7673 0 897 0 153323 0 0 0 PART I, LINE 7 NON-FIXED PAYMENTS - THE INSTITUTE PROVIDES CERTAIN EMPLOYEES WITH INCENTIVE COMPENSATION (BONUSES) FOR ATTAINMENT OF GOALS ESTABLISHED DURING THE EMPLOYEE EVALUATION PROCESS. A OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 340714600 67756BPD6 2015-11-30 15540000 REFINANCE 2010 BONDS 0 0 0 B OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 67756DE36 2022-06-08 35457377 PURCHASE DORM&RENOVATE KULAS HALL 0 0 0 C OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 346849674 2024-12-19 11000000 KULAS HALL RENOVATIONS 0 0 0 A 5280000 15540000 15540000 2015 1 0 1 1 B 1035000 35457377 457377 27008741 7991259 2025 0 0 1 1 C 11000000 182000 4228695 6589305 0 0 0 1 A 0 0 0 0 0.00180 0.00180 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 X 11 226113 FMV-STOCK QUOTE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 CLASSES OF MEMBERS - GOVERNING MEMBERSHIP IS OPEN TO ALL PERSONS OR CORPORATIONS WHO ARE INTERESTED IN THE CLEVELAND INSTITUTE OF MUSIC AND THE FURTHERANCE OF MUSIC AND MUSICAL EDUCATION AND WHO CONTRIBUTE AT LEAST $2,500 ANNUALLY TO THE INSTITUTE'S ANNUAL FUND. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS AND THEIR RIGHTS - THE MEMBERS ELECT THE TRUSTEES OF THE INSTITUTE AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 - ONCE FORM 990 IS PREPARED, IT IS PRESENTED TO THE FINANCE COMMITTEE OF THE BOARD OF THE CLEVELAND INSTITUTE OF MUSIC FOR REVIEW. ANY QUESTIONS OR COMMENTS RAISED ARE THEN ADDRESSED BY THE CHIEF FINANCIAL OFFICER OR AN EQUIVALENT OFFICER BEFORE SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE ORGANIZATION MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH IS REVIEWED BY MANAGEMENT AND THE BOARD OF TRUSTEES' GOVERNANCE COMMITTEE AT LEAST ANNUALLY AND MODIFIED AS REQUIRED. THE BOARD OF TRUSTEES AND OFFICERS OF THE ORGANIZATION ARE REQUIRED TO CERTIFY ANNUALLY THAT THEY HAVE READ AND UNDERSTAND THE CONFLICT OF INTEREST POLICY AND SUBMIT A WRITTEN QUESTIONNAIRE EACH YEAR DISCLOSING ANY KNOWN CONFLICTS. THE RESPONSES TO THE QUESTIONNAIRES ARE REVIEWED BY MANAGEMENT. MANAGEMENT ALSO MONITORS ALL TRANSACTIONS DURING THE NORMAL COURSE OF BUSINESS TO IDENTIFY OTHER POTENTIAL CONFLICTS. AT LEAST ANNUALLY AND AS CONFLICTS ARISE, THE BOARD OF TRUSTEES' GOVERNANCE COMMITTEE REVIEWS POTENTIAL CONFLICTS TO DETERMINE WHETHER ANY ACTUAL CONFLICTS EXIST. INDIVIDUALS WHO BELIEVE THEY ARE IN A POTENTIAL CONFLICT ARE REQUIRED TO RECUSE THEMSELVES FROM THE DELIBERATION AND DECISION-MAKING PROCESS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - THE CLEVELAND INSTITUTE OF MUSIC'S EXECUTIVE COMMITTEE APPROVES AND REVIEWS THE INSTITUTE'S INCENTIVE COMPENSATION PLAN COVERING THE PRESIDENT AND OTHER OFFICERS OF THE INSTITUTE. THE COMMITTEE DISCHARGES THE DUTY OF THE BOARD OF TRUSTEES IN FULFILLING THE BOARD'S OVERSIGHT RESPONSIBILITIES FOR DETERMINING THE REASONABLENESS AND ADEQUACY OF THE COMPENSATION AND BENEFITS PAID TO THE PRESIDENT AND OTHER OFFICERS. THE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF COMPENSATION AND BENEFITS IN RELATION TO THE MARKETPLACE AND RELEVANT INDEPENDENT DATA. THE COMMITTEE DECIDES ON ANY CHANGES TO THE INCENTIVE COMPENSATION PLAN. ONCE APPROVED BY THE COMMITTEE, THE INCENTIVE COMPENSATION PLAN IS SIGNED BY THE CHAIR OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE INSTITUTE'S WEBSITE AND UPON REQUEST FOR THE SAME PERIOD OF TIME AS SET FORTH IN INTERNAL REVENUE CODE SECTION 6104(D).