In June 2008, the Conservatory completed a seven-year capital campaign, The Gift of Music, exceeding its goal of $100 million and finishing with $115 million in pledges and gifts. Although our endowment is now at a record high, NEC will require even more financial capacity to realize the ambitious dreams of the Strategic Plan.
Our plan of attack will include the following:
- Imposing strict discipline on the budgetary process to make our dollars go farther and to support our strategic priorities;
- Creating new revenue streams;
- Inaugurating a new capital campaign.
We will take a deliberate approach in initiating new programs, starting with those that are already in process and funded or those that can be funded through regular operating budget with mandated drawdown from endowment. We will also undertake those for which targeted support can be raised. Lastly, we will undertake those that can only be funded through monies raised in a capital campaign.