FIVE-YEAR PLAN

I N T E R NAT I O NA L M U S I C F E S T I VA L

5-Year Plan 2018-2023

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Contents I. Overview Introduction Context Plan Summary II. Goals and Initiatives Program Access Artistic Excellence Community Engagement International Recognition III. Implementation Financial Capacity Development Plan Organizational Capacity Key Metrics

5 6-7 8 10 11 12 13

15-17 18-19 20-21 22-23

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I.

Overview Introduction Context Plan Summary

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Introduction For more than 50 years, the Bowdoin International Music Festival has built and sustained a renowned summer institute specializing in a profound path to musical growth: the study of solo and chamber music. Today, as we look to our future and articulate a new vision, we must examine our present position to identify ways by which we can better serve our purpose.

To achieve our vision of becoming the premiere summer institute for the study of solo and chamber music, we will expand our capacity in four areas: • Program Access • Artistic Excellence • Community Engagement • Reputation The following plan first identifies the goals and initiatives required to achieve this vision, and then addresses how they will be implemented. As these initiatives carry significant costs, our success depends on increased and sustained financial support from donors, foundations, and corporations who join in our commitment to our mission and the transformative power of music.

OUR MISSION

is to provide gifted young musicians from around the globe with an opportunity to study with worldclass artists and to provide audiences with classical music performed to the highest artistic standards.

OUR VISION

is to be the premier summer institute for the study and performance of solo and chamber music.

We thank you for reading this plan and welcome your participation.

“We believe in the

transformative power of music.”

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Context Today, we hold the strongest position in our 54-year history. Our institute has become world-renowned and highly selective, indicated by a remarkable increase in applications and overwhelmingly positive evaluations from virtually all of our students. These successful applicants study at the Festival with renowned faculty who represent the top US music schools. Additionally, our faculty and guest artists perform to sold-out halls at nearly every subscription series concert.

In 2017, our 350 students, faculty, and guest artists presented more than 100 free performances, lectures, seminars, and classes in all kinds of venues such as Bowdoin College’s state-of-the-art recital hall, local libraries, museums, care centers, breweries, and more.

For the first time, dozens of these events were livestreamed globally. Meanwhile, we have maintained steady financial growth and positive cash flows.

In light of this, in September 2017, Festival leadership chose to design a plan to harness our current strengths and design our future.

After months of extensive research and feedback sessions conducted by newly established Board subcommittees, an outside consultant, and the staff, the Board of Trustees adopted the plan in July of 2018.

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We Are: They Are:

(Top 40 Festival Competitors, Averaged)

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Weeks

Chamber, Solo Focus

90 Events 270 Students Students Ages

13-30

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Weeks

Orchestra, Chamber, Solo Focus

60

Events

124 Students Students Ages

16-26

47 Faculty

37 Faculty

$124 Application Fee

$72 Application Fee

$6,600 6-Week Cost

$6,300 6-Week Cost

Average Scholarship Covers 33% of Tuition, Room, & Board

Average Scholarship Covers 67% of Tuition, Room, & Board

Partially Subsidized Faculty Housing Mostly Subsidized Faculty Housing

$1.6 Million Annual Income $4.4 Million Annual Income 41% Contributed Income

60% Contributed Income

$3 Million Endowment

$18 Million Endowment 7

Plan Summary Our vision is to be the premier summer institute for the study and performance of solo and chamber music.

Program Access

Artistic Excellence

Community Engagement

International Recognition

Our program will be financially accessible, diverse, and inclusive.

We will ensure continued excellence in teaching and performing.

We will strengthen our role as a civic institution and vital cultural resource.

We will be recognized worldwide as a premier chamber music institute and concert series.

Financial Capacity

Our financial capacity will enable all strategic goals to be met.

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Organizatonal Capacity

Our trustees and staff will be equipped with the necessary skills, support, and culture to meet all goals.

II.

Goals

Program Access Artistic Excellence Community Engagement International Recognition

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Program Access

Our program will be financially accessible, diverse, and inclusive.

Overview:

The education of young musicians is at the core of our mission. However, many admitted students with limited resources face a gap between the cost of attendance and the amount they are able to pay.

Furthermore, students often experience a similarly large gap between our scholarship awards and those offered by competing institutions.

We must increase access to our programs by reducing application fees and offering more scholarships. In addition, we must allocate new resources to combat barriers to diversity and inclusivity.

2017 by the Numbers 1001 applications 44% increase in applications since 2015 68% first-time applicants 72% of admitted students applied for scholarship Our application fee is $52 more than our peers Fellowship Program: Acceptance Rate: 6% Average Scholarship: 100% Enrolled: 83% Instrumental Program: Acceptance Rate: 47% Average Scholarship: 31% Enrolled: 57% 74 admitted students could not afford the program

Initiatives: 1. Increase annual scholarship by $220,000 to meet 100% of financial need 2. Reduce application fees to industry standards

Outcomes: 1. Enrollment of the most qualified students

2. A more financially accessible, diverse, and inclusive 3. Investigate strategies to increase organization diversity and inclusion amongst the student body

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Artistic Excellence

We will ensure continued excellence in teaching and performing.

Overview:

Our faculty represents a critical organizational strength. These musicians recruit exceptional students and provide them with an invaluable experience. They also sustain the summer concert series, which serves as a cornerstone of the Festival’s public reputation.

We have been successful in recruiting and developing long-term relationships with faculty due to their belief in our mission and appreciation of our highly collegial atmosphere. However, many of our peer Festivals offer higher salaries and free housing. Although our model has fortuitously allowed the employment of world-class artists at somewhat below-market rates, we do not believe it is sustainable. We must provide competitive pay to our faculty.

Initiatives: 1. Provide free, quality summer housing to all faculty 2. Increase annual faculty compensation by $130,000

2017 by the Numbers 47 faculty and 20 guest artists Average Weekly Faculty Salary: Festival: $1,550 Peers: $2,500 Faculty Housing: Festival: partially subsidized Peers: mostly subsidized

Outcomes: 1. Sustained excellence in teaching and performing

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Community Engagement

We will strengthen our role as a civic institution and vital cultural resource.

Overview:

Strengthening our service to the community and our relationship with Bowdoin College remain institutional priorities, as does our role in providing outreach programming to a varied set of audiences and venues throughout Midcoast Maine. These are important investments in our Festival’s future and our state’s culture.

Fulfilling our civic responsibilities also means partnering with other organizations, such as the Bowdoin College Museum of Art, to pursue educational initiatives that will help us diversify and enhance our own programming and outreach efforts.

2017 by the Numbers 50 local business partners 175 free events in 30 venues 92% of available tickets sold 10,195 audience $4,000,000 in annual economic activity in Midcoast Maine

As we proceed, our full civic potential will be best served by inviting community leaders into our conversations. A more robust relationship with the surrounding region will not only expand the number of people affected by our programing, but also provide the necessary environment to ensure future sustainability.

Initiatives:

Outcomes:

1. Establish ourselves as the premier classical music organization in Midcoast Maine

1. An expanded and engaged audience

2. Build increased awareness of free events 3. Invite community leaders to serve on an Advisory Council 4. Continue to nurture our partnership 12 with Bowdoin College

2. Sustained support from Bowdoin College, local patrons, and businesses

International Recognition

We will be recognized worldwide as a premier chamber music institute and performance series.

Overview:

Our sustainability is contingent upon continuous engagement of students, artists, audiences, and supporters. A strong and positive reputation is vital to attracting and retaining these key groups both during the summer Festival and throughout the year.

To grow and nurture our international recognition, we must not only increase our traditional media exposure, but also embrace live streaming and other technological capacities. Our summer programs, the core of our mission, are no longer subject to geographical restraints.

By harnessing these new capacities for exposure, we can share our programs with musicians and music lovers in every country across the globe.

2017 by the Numbers 1 new website 35 livestreamed events 270 students from 23 countries and 34 states 1,001 applicants from over 40 countries 4,800 followers on Facebook, Instagram, and Twitter 9,507 livestream views from 113 countries 10,400 e-newsletter subscribers

As our recognition grows, we must maintain our reputation in practice by continuing to develop exceptional and relevant content.

Initiatives:

Outcomes:

1. Expand our live streaming and digital experiences

1. A sustainable yield of future students, faculty, and 2. Seek increased coverage in regional supporters and national media outlets 2. More audiences 3. Increase the Festival’s visibility exposed to inspiring at industry gatherings and musical experiences music institutions 4. Increase year-round program activity

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III. Implementation Financial Capacity Development Plan Organizational Capacity Key Metrics

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Financial Capacity Today, the Festival is in a strong financial position to achieve our mission. Over the past five years, we have increased the endowment by 75%. Over the past three years, we have provided more scholarships and increased attendance and viewership of our concerts while increasing operating income.

Endowment net assets

This financial stability supporting operational growth is due primarily to: • • • • •

Focused spending on mission driven programs Efficient management Responsible financial planning Strong donor support Consistent operating revenues and controlled expenses

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In addition, recent cost saving measures such as digital automation and reduced tuition processing fees have enabled projects such as a new website and a digital infrastructure overhaul without increasing total expenses.

However, to achieve our vision, we must build on this growth to support our strategic initiatives. In total, the initiatives required to meet our plan objectives will cost an additional $350,000 annually: 2018 2023 Difference Cost of Initiatives

Scholarship $420,000 $640,000 $220,000 Faculty Compensation $320,000 $450,000 $130,000 Total Additional Annual Expenses $350,000

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We cannot increase earned income sources such as student fees or ticket sales to meet these costs, as this would raise financial barriers which directly compromise our plan objectives. Additional revenue must come from contributed income sources.

Festival Revenue Sources:

This revenue shift is consistent with national averages and peer festivals:

To achieve this $350,000 increase in contributed income, we will design and execute a comprehensive 5-year development plan.

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Development Plan Achieving strategic outcomes will require shared investment by a broad community of individuals and organizations who join in support of our vision for the Festival’s future and believe in the transformative power of music. Our 5-Year Development Plan will identify a path to meet our financial goals and provide a robust infrastructure to create and strengthen relationships with meaningful supporters.

Section 1: Achieving Our Vision

Over a period of five years, the Festival, in partnership with a broad community of individuals and organizations, will incrementally increase annual philanthropic revenue by $255,000 and add $2,000,000 to the endowment. These increases will by 2022 sustain an annual contributed income budget of $950,000 which will allow all strategic goals to be met.

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Section 2: Strengthening Our Donor Base

The second section of the plan will show how we will identify donors and direct Festival resources to areas of high and sustainable financial return. Specifically, this section presents ways to: • • • •

initiate and increase donor interest identify prospective financial capacity build and deepen donor relationships inspire longterm commitment

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Organizational Capacity People are the Festival’s greatest resource and we

depend on their work to achieve our goals. We must equip our people with the necessary systems, resources, skills, and leadership to operate effectively and efficiently.

Who

Key Plan implementers include:

•8 Board Committees

•6 Year-Round Staff

•2 Artistic Directors

When

The strategies of this plan will be implemented incrementally beginning in July, 2018. However, steps already have been taken this year towards our plan goals, including:

•Increased scholarship, reduced application fees, and

increased faculty housing stipends

•Additional development staffing

•Sunday matinee concerts, more varied community concert

venues, and new collaborations with Bowdoin College

•A first-time admissions recruitment tour to 13 top music

schools and conservatories

How

To ensure our Board’s continuing excellence in supporting and guiding the organization, we will conduct annual training for trustees and emphasize philanthropic responsibility and expectations as part of the nomination and orientation processes.

The Executive Director will assume operational responsibility for plan implementation and will regularly engage with the Executive Committee to report progress and discuss strategy. In addition, a new year-round staff will be hired to facilitate increased focus on 5-year plan initiatives.

We will attract, train, nurture, and retain competent staff through an inviting and rewarding work environment, flexible schedules, and progressive employee policies. Furthermore, we will facilitate and monitor progress through goal-oriented direction and evaluation that connect with plan performance indicators.

We will create a Board of Advisors to support the efforts of trustees and staff. Through them, we will meaningfully engage our world-wide stakeholders, identify potential trustees, and take council from a diverse group to address strategic questions and contribute to solutions.

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Our Organizational Structure Board of Trustees

Year-Round Employees Summer Employees

Chair

Artistic Directors

Executive Director

Faculty (47)

Director of Development

Director of Communications

Program Manager

Facilities Manager

Director of Residence Life

Guest Artists (20)

Development Associate

House Manager

Librarian

Stage Manager

Assistant Director of Residence Life

Collaborative Pianists (5)

Special Events Coordinator

PhotographerIn-Residence

Program Coordinator

Stage Assistants (2)

VideographerIn-Residence

Community Concert Coordinator

Contract Musicians

Finance Officer

Operations Manager

Residence Assistants (2)

Board Committees

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Key Metrics

Over the next five years, we will measure progress towards our vision using these indicators:

Program Affordability

2018 2023 Inputs Available Scholarship/Applicant Need 51% 100% Average Application Fee $124 $82 Diversity Action Plan - Implemented Results

Enrolled Students 58% 65% Cannot Enroll Due to Insufficient Funds 48% 15% Applications 1,100 1,500

Artistic Excellence

Inputs Avg. Weekly Faculty Salary $1,550 $2,200 Faculty Housing Budget $60,000 $80,000 % Faculty Housing Booked by Staff 0% 75% Results

Negative Housing or Salary Evaluations 20% 5%

Community Engagement

Inputs Community Concert Venues 23 26 Advisory Council Members 0 20 Free event marketing allocation $2,000 $10,000 Results

Subscription Concert Attendance 6,000 6,500 Free Events 2,400 3,700

International Recognition Inputs Livestream Broadcasts 35 60 Livestream Marketing $0 $5,000 Festival at Industry Gatherings 2 6 Results

Livestream Views 9,507 25,000 Livestream Countries 113 150 Newsletter Subscribers 2,694 4,000 Facebook Likes 4,005 10,000

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Thank you for supporting the Festival’s future.

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