Berklee today is the official alumni publication of Berklee College of Music in Boston, Massachusetts. It is a forum for contemporary music and musicians.
Issue link: http://berkleetoday.epubxp.com/i/180042
PLAYING IT FORWARD Reaching for New Stars by Jim Ricciuti Thank you to all who gave to Berklee last fscal year and whose names are listed on the following pages. With gifts that range from $1 to $1 million, you help Berklee provide a more affordable and life-changing experience for students. Thanks to you, tuition this year increased at a rate below infation, and we awarded the greatest dollar amount in scholarships and fnancial aid in our history. We're on a path that leads to great things. Consider Berklee as a spaceship hurtling through the galaxy, launching from one humble star in 1945, zipping by the next with each new milestone. Berklee awarded its frst bachelor's degrees in 1966, opened the Berklee Performance Center in 1976, and since 1980, has added several new majors. Fast-forward to today: Berklee is auditioning and interviewing every one of the more than 8,000 hopefuls who apply to the college. As well, the landmark new facility at 160 Massachusetts Avenue— set to open in January 2014—will transform Berklee's social fabric by providing dorm rooms to 370 students. It will also enhance our teaching capabilities by housing 10 new recording studios and production labs. The campus in Valencia, Spain, recently graduated 74 students in its frst class of master's degree recipients. Additionally, Berklee's awardwinning online offerings will soon help alumni who did not graduate to complete their degrees. "Over the past 10 years, we have signifcantly invested in students, faculty, facilities, and academic programs," says Berklee President Roger Brown. "This is all to ensure that we are the leading institute for contemporary music. The generosity of our donors, combined with hard work, is bearing fruit. "But it is not enough to create a world-class experience for students: We must make it more affordable. Imagine if more gifted students could attend Berklee, excel, and complete their education on their own terms. Imagine our students entering the world limited not by debt, but only by their aspirations and imaginations. This is our dream. And everyone who makes a gift to 10 Berklee today the college—alumni, parents, faculty, staff, friends—brings that day closer." Making Berklee more affordable also requires smart decisions to run the college effciently. Mac Hisey, Berklee's senior vice president for fnance & administration and chief fnancial offcer, says, "We are investing signifcantly, but at the same time we are looking hard at managing costs so we can be a good steward of our donors' generosity. Over the past two years, we have successfully streamlined administrative costs." But streamlining goes only so far. The charts on the right indicate that we spend the majority of funds directly on teaching, housing, supporting, and providing fnancial assistance to students. That doesn't leave much to cut without harming the student experience. So what is the secret to providing a more affordable experience for students without sacrifcing what makes Berklee great? You. Hidden in these charts are the stories of our students. We are still primarily a tuition-based college with students and families providing 81 percent of funds. Imagine if more alumni, parents, faculty, staff, and friends made gifts that doubled or tripled the "gifts" slice. We could award more scholarships and fnancial aid to students and slow tuition increases, shrinking the tuition slice. Think of the students whose music could be heard because their talent and dedication, not fnancial means, determined their career at Berklee. When you give, we can rely less on tuition, easing the burden on students and families while still providing an experience unmatched anywhere in the world. Participation is what matters most. It's not how much you give, but your gift inspires others to give too. You bring us closer to that day when all talented students can attend, excel, and complete their Berklee education. You provide the rocket fuel to reach this new star. Jim Ricciuti is the director of the Berklee Fund Where the money comes from: Endowment income and other sources, 7% Berklee Online tuition, 7% Gifts from alumni, parents, faculty, staff, businesses, foundations, and government, 5% Where the money goes: Operating and maintaining buildings 15% Scholarships and fnancial aid 15% Administrative costs, 12% Berklee Online costs, 5% Fundraising and other costs, 5% Tuition and room and board fees from students and families, 81% Teaching, supporting, housing, and feeding students, 49% This information is based on fscal year 2013 estimated fgures. The Show Will Go On On April 20, Berklee launched the new concert series Boston Rocks at the Royale Boston Nightclub in the theater district. The event drew more than 550 people who gave $288,000 in cash donations and nearly $100,000 in in-kind donations to BCMP, Berklee's City Music Program. But given the tragic events of the marathon bombing only fve days prior, the Boston Rocks organizers discussed whether the show should go on. Ultimately they decided that the concert could provide an opportunity to help residents return to normalcy after a diffcult week in the city. Of the new fundraising effort, President Roger Brown said, "There is no time more appropriate than now to come together in creative ways to strengthen support for music education. Boston Rocks will make a tremendous difference in the lives of young people." As a program supported by the largesse of the donors, BCMP offers Boston children in grades 4 through 12 from underserved communities an opportunity to enjoy tuition-free music education, summer music programs, and college readiness pro- grams. The goal is not only to train participants as musicians and performers but also to equip them with the confdence that they will need to better their communities and world. The April Boston Rocks concert featured a heavy dose of rock covers and several student originals from Steve Oristaglio and the Berklee Full Circle Band. The band includes Berklee alumni, students, and staff as well as Oristaglio, who is the president and co-chief investment offcer of SCS Financial and a member of Berklee's Presidential Advisory Council. The new series is part of Berklee's Executive Sessions, a program in which C-level executives perform and study with Berklee students, faculty, and alumni. In exchange, they share their managerial experience via classroom lectures or in-person mentorship to members of the Berklee community in areas of management, strategic and fnancial planning, marketing, and other sector-specifc skills. After the generous fnancial support for the frst-time event and a deluge of positive e-mail and text messages, Boston Rocks will return next year. For more information, visit http:// bostonrockslive.wix.com/bostonrocks.