In its 2017 annual report, the Cleveland Orchestra announced a $4.2 million deficit and, at the same time, an endowment value of $192 million, the highest ever.
The orchestra had expenses of $52.2 million which could not entirely be covered by the revenue. This revenue was lower than expected due to declining fundraising. The endowment, by contrast, is boosted by many donors.
Average attendance at Severance Hall remained at last year’s near-record high of 1.550 per concert. The figures show that college students represent 20 percent of the audience.
