Annual Report
2021– 2022
“The future of CIA—and Cleveland— is bright.”
As I reflect on the 2021–2022 academic year, I’m in awe of the collective perseverance, resilience and creativity that has emanated from Cleveland Institute of Art students, faculty and staff during the last few years spent responding to the COVID pandemic. While “back to normal” has now been replaced with “back to next,” the lessons we’ve learned and the community we’ve built together have only strengthened our sense of belonging and pride in our institution. That’s also allowed us to hold true to one of our most critical values— creativity—and embrace the creative process not just in the act of making (obviously!) but also in how we operate as an institution. This involves asking the critical questions “what if?” and “why not?” It also means taking risks, practicing “smart failure” and failing forward, and embracing learning and continuous improvement in all that we do.
I especially want to credit Grafton Nunes, who in 2021–2022, the final year of his presidency, helped lay a solid foundation to bring us back together; made significant strides toward pre-pandemic enrollment; kept us moving through our strategic plan; greatly advanced our outcomes in diversity, equity and inclusion; and laid the groundwork for CIA to thrive for years to come. As we continue to invest in expanding pathways to access to education at CIA, fostering student success, cultivating innovation and creativityfueled disruption, and “turning the college inside out” through community-engaged practice and placemaking, the future of CIA—and Cleveland—is bright. The support of our alumni, donors and community partners who contribute to our collective success is especially notable, and I am confident that what comes next will be truly remarkable.
Kathryn J. Heidemann President + CEO
President of Enrollment Management + Marketing, and Greg Watts was announced as Vice President of Academic Affairs + Dean of Faculty. They join CIA’s aspirational executive administration, accomplished faculty and skilled staff, and I look forward to what our talented community will accomplish together. Also, CIA was honored to be recognized by the philanthropic and grantmaking community as an institution worthy of their investment.
The 2021–2022 academic year was marked by the theme of “Back to the Future,” when after two years of pandemic adaptation and survival, the Cleveland Institute of Art was back to building on its 140-year history of innovation and pioneering art and design. The headline event of the year was the announcement that Kathryn Heidemann would be CIA’s 11th president—and our first female in more than 100 years. Under Kathryn’s leadership, we will continue to execute our vision to cultivate creative leaders, advance our College and strengthen our community. The 2021–2022 academic year also marked the final year of Grafton Nunes’ impactful 12-year tenure as president. For his many accomplishments, he was presented a degree of Honorary Doctor of Humane Letters during Commencement. CIA welcomed two important additions to our senior leadership team last year. Yvette Sobky Shaffer joined us as Vice
A generous gift from Jane B. Nord announced in February led to establishing the Jane B. Nord Center for Teaching + Learning, which will support the pedagogical and educational development of faculty, and as a result, enhance student learning and success. Support offered through the center will be instrumental in CIA’s development. Finally, I am grateful to the taxpayers of Cuyahoga County, who through Cuyahoga Arts & Culture, provided more than $550,000 in support of public programs at CIA, which include our Continuing Education and Community Outreach programs, the Cinematheque and Reinberger Gallery. Thanks, too, to the State of Ohio for including CIA in its biennial budget in recognition of the impact that CIA has on the economy of Northeast Ohio.
Cynthia Prior Gascoigne Chair, Board of Directors
2021–2022 Financial Summary REVENUE
EXPENSES
57.4% Net Tuition and Fees
28.4% Instructional Programs
21.6% Government and Current
24.8% Institutional Support
Year Restricted Grants and
13.7% Student Services
Endowment Support
7.9%
Academic Support
16.9% Auxiliary Enterprises
25.2% Auxiliary Enterprises
4.1% Annual Fund Contributions
100%
Total
100% Total
CIA’s primary source of income is tuition and fees, net of financial aid, which represents 57.4 percent of operating revenues. Fall 2021 total enrollment was 580 students, which included 157 new and transfer students. At CIA, we recognize the significant financial investment for education made by students and families. Concentrated efforts are made to keep tuition increases below national averages while providing the highest quality education in a state-of-the-art environment. Fundraising and endowment support provide necessary resources in support of CIA’s mission. Annual Fund giving represents
4.1 percent of the 2021–2022 operating revenue while support from government grants, current year restricted grants and endowment support decreased slightly to 21.6 percent as a result of reduction in government funding to address COVID-19. Endowment support includes distributions from endowment funds held in trust and distributions from the CIA-managed portfolio. A majority of the endowment distributions are used for need- and meritbased financial aid awarded to students. At June 30, 2022, the market value of endowment assets was $29.7 million,
composed of $9.9 million of funds held in trust and $19.8 million in CIA-managed investments. The overall asset allocation of the CIA-managed portfolio at June 30, 2022 was 54.7 percent domestic equity, 13.2 percent foreign equity, 17.2 percent fixed income and 14.9 percent alternative investments. After several years of positive returns in the endowment, our investment returns, like those of other institutions, suffered a setback. For the fiscal year ended June 30, 2022, the one-year weighted-average return on the combined endowment portfolio was -11.7 percent, net of fees.
Auxiliary enterprises represent 16.9 percent of total operating revenues and include the Cinematheque film program and student housing. In 2021–2022, the College spent 28.4 percent of its operating budget on instructional programs, 7.9 percent on academic support, 13.7 percent for student services, 24.8 percent for institutional support and 25.2 percent for auxiliary enterprises.
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