Annual
Report
2012 Fiscal Year October 1, 2011 to September 30, 2012
“ At any given moment you could be surrounded by the peaceful quiet of nature, and then in the next instant, that quiet is interrupted by the sound of a solitary French horn playing somewhere in a distant meadow. [Aspen] truly is one of the most inspiring places on earth and certainly one of my favorites to enjoy music.” — Monika Vischer Colorado Public Radio Classical Host
Table of Contents 3
Letter from the President and Ceo
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Highlights 2012
6 bucksbaum campus construction begins 8 Robert Spano’s Inaugural Season 10
Student Experience
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Media and Broadcasts
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Benefits: Nights to Remember
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family of supporters
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Revenue and Expenses
AMFS harp faculty member Nancy Allen with a student outside the Benedict Music Tent Photos: Alex Irvin architectural renderings and photos: harry teague architects
Brother and sister Joshua and Alisa Weilerstein, both alumni of the AMFS, gave an exhilarating performance together on Sunday, August 5.
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Aspen Music Festival and School
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2012 Annual Report
Lynn Goldsmith
Letter from the President and CEO Reflecting on the 2012 season is a pleasure for many reasons—perhaps most of all since it was the inaugural season for Robert Spano as our music director. Robert brings passion, brilliance, and dedication to everything he does. In one summer, he gave extraordinary instruction and inspiration to the students, led five dynamic and diverse programs, and began to establish deep connections with the faculty, patrons, and community. As I have said before, the experience with him at the helm of our institution is as good as I had dared to hope. Robert’s contributions come in addition to those already made by our incomparable artist-faculty, whose teaching and performance make up the core of the AMFS experience. It is true the school, with 130 artist-faculty members and 630 students, is the heart of our whole music enterprise in Aspen. We are able to present four orchestras, an opera company, and countless recitals and chamber music offerings because of the enthusiastic presence of our artist-faculty and student performers. Further, the exciting freshness and energy of our concerts stem from the thrill of a young musician playing the classics for the first time. Our school is both the source and the expression of our belief in a future for classical music. Thank you to the patrons and supporters who share our belief in the extraordinary nature of what we do here at the Aspen Music Festival and School and who share our dream of shaping the future of music in our time, and beyond. I hope you enjoy this immensely positive report on the 2012 season and that it helps you remember some of the meaningful moments we created together last summer. With my best,
Alan Fletcher
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Highlights
2012
Spectacular Artistry Transformative Teaching Financial Responsibility National Exposure
Alumni Joshua Bell and Edgar Meyer rehearse for a Friday performance.
In 2012, the Aspen Music Festival and School delivered another spectacular season of performances and education. The season was marked by the official beginning of Maestro Robert Spano’s tenure as music director, and core successes included a talented student body drawn from the largest pool of applicants on record; a successful re-shaping of the all-student orchestra into the Aspen Philharmonic Orchestra; broadcast exposure to millions via the Festival’s unique Performance Today residency; an end-of-year budget surplus, and rich programming encompassing an invigorating mix of brilliant standards, the avant-garde, and today’s emerging voices.
Aspen Opera Theater Center performs John Harbison’s The Great Gatsby.
Memorable moments onstage number too many to name. Audience members responded with particular enthusiasm to the (literally) thunderous opening Gershwin concert, the Festival’s first performance of Schoenberg’s intriguing piano concerto, Messiaen’s rarely performed From the Canyons to the Stars, nine-year-old Elizabeth Aoki’s dazzling appearance on the Performance Today recital, the opera center’s snazzy staging of Harbison’s The Great Gatsby, and Mahler’s monumental Symphony No. 8, “Symphony of a Thousand” performed with eight soloists, three choruses, and huge orchestral forces. The Mahler 8 performance capped an electrifying eight weeks of music that gave audiences a glimpse into the energy and enthusiasm that will imbue the future of the Aspen festival under Spano’s leadership.
Nine-year-old Elizabeth Aoki dazzled the audience at a taping of Performance Today.
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Susanna Phillips sings Barber’s Knoxville: Summer of 1915, while Robert Spano conducts.
Artist-faculty member Ray Mase leads a brass ensemble rehearsal.
A performance of Messiaen’s From the Canyons to the Stars
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Capital Campaign Success in 2012 By the end of the 2012 fiscal year, the Aspen Music Festival and School had raised more than $44.8 million for the Where Dreams Begin capital and endowment campaign. The AMFS publicly launched the campaign on July 29 with goals of raising $35 million in capital contributions for the Matthew and Carolyn Bucksbaum Campus and $40 million for the endowment. Endowment funds will increase available student aid, honor the Festival’s world-class artist-faculty, create revenue needed for future excellence and innovation, and maintain the new Where Dreams Begin facilities. The Castle Creek Campaign Aspen Music Festival and School
Bucksbaum Campus Construction Begins At the December Board meeting in 2011 and at a special meeting of the Corporation called in January 2012, the final business agreement with Aspen Country Day School was approved. Construction of Phase I was scheduled to begin in August, pending each entity raising the full amount of funds needed for that phase by February 28. Throughout December and January, President and CEO Alan Fletcher and the full development team executed an extraordinary fundraising effort and met the goal of $20.5 million pledged by March 1, and financed by June 1. The official agreement was signed in April, intensive logistical coordination began, and on August 20, 2012, after ten years of planning, the AMFS and ACDS broke ground—just one day after the summer Festival closed for the season. In nine months of work, Shaw Construction (the company that also built Harris Concert Hall and the Benedict Music Tent) will complete two new rehearsal halls, sixty-eight practice rooms, a multi-level percussion building, transformative infrastructure, and by the fall, a large building for teaching studios that will also house the lower grades of ACDS. (ACDS moved to a temporary campus at the Meadows during this construction phase.)
Where Dreams Begin The Campaign for the Aspen Music Festival and School
Where Dreams Begin The Campaign for the Aspen Music Festival and School
The Pond Cluster
Budget for Phase I Construction (AMFS costs only) This approved budget for Phase I required a significantly accelerated fundraising effort. We are grateful to the donors who stepped up to help meet this challenge. Phase I construction
$15,500,000
Project contingency
1,000,000
Financing
1,250,000
Legal, bad debt and other AMFS-only costs
2,000,000
FF&E (furniture, fixtures, and equipment)
750,000 $20,500,000
Pledges as of January 2012
11,800,000
Funds raised by February 28
$8,700,000
Aerial view of the Bucksbaum Campus
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Robert Spano Inaugural Season as Music Director
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Aspen Music Festival and School
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In 2012, Maestro Spano spent his first official summer in Aspen as music director. With great intensity, he immersed himself in every aspect of the institution: guiding and teaching young musicians; leading orchestras and operas in performance; nurturing relationships with faculty, donors, and audience members; and setting in motion the framework for the Festival’s next era. The conductor-composer-performer collaborated with President and CEO Alan Fletcher and Vice President for Artistic Administration and Artistic Advisor Asadour Santourian to create the 2012 season, shaping a program of concerts with a triple purpose: to delight and enrich audiences, to create deep transformation for the music students, and to showcase the best of today’s living classical music. “What would be success for the Festival’s future?” considered Spano, in response to a question asked of him by a journalist this past summer. “Nothing short of a transformational experience for every single student, full houses for concerts that celebrate both what is living and vital in classical music today and that honors the spectacular genius of the known masters, and an engaged community that participates deeply with the institution in myriad ways—for a start!” Fletcher concurred, saying, “This first season working with Robert was as good as I had dared to hope. Robert’s passion for educating and inspiring the musicians of tomorrow, and his enthusiasm for the best of the classical music of our time, perfectly complement the Festival’s mission: creating the future of music.”
“ Spano is a forward thinker who demonstrates collegial attitude toward those who play for him. Although he certainly leads from the front, it appears that he will take his Aspen colleagues—students, musicians, teachers, and administration—along with him.” — Aspen Peak Magazine, May 2012
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Percussionist Wins Concerto Competition It takes an extraordinary percussionist to take the top honor in the Festival’s Brass and Percussion Concerto Competition, and Matthew Stiens is just such a percussionist. Only one other has achieved this: David Herbert, an AMFS alumnus who is now the principal timpanist with the Chicago Symphony. Stiens, a student of AMFS artist-faculty member Jonathan Haas, is currently pursuing a degree in percussion performance at the University of Missouri at Columbia, where he studies with Dr. Julia Gaines. As the Concerto Competition winner, he won the chance to perform a concerto in the Benedict Music Tent. His presentation of Joan Tower’s Strike Zone with the American Academy of Conducting at Aspen Orchestra on July 31, 2012 was electrifying.
Students Report Satisfaction with AMFS A student class of 613 talented musicians— with an average age of 22—traveled to Aspen from 35 countries, including Peru, Argentina, Armenia, and Turkey, from 45 states and from six Canadian provinces. Of the entire student population, 71 percent received financial aid, either in the form of a scholarship or fellowship. The total amount of financial aid given in 2012 was $2,011,535. At the end of each season, the AMFS distributes a student survey to gauge overall student satisfaction with their AMFS experience. This year, 94 percent of 2012 students rated their
experience at the AMFS as “excellent” or “good.” The group of students who attended the Festival and School in 2012 had the highest percentage of returning students in AMFS history at 50.5 percent, an impressive number in an era where students aim to participate in as many different programs as possible. The three main reasons students attend and continue returning to the AMFS are the faculty members, the opportunity to participate in a high-level orchestra program, and the amount of financial aid offered. Said one student, “The repertoire was stimulating, well-chosen, and relevant to my professional development.”
“ As everybody knows, Aspen is one of the most important festivals in the United States. I am completely sure I will gain more artistically/technically/ professionally than I hope. The passion for music and the fun of it is what drives me to be a musician.” - Rainel Joubert, from cuba, violin
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“ There’s nothing quite like [Aspen], in the U.S. … and nothing more important to the state of classical music in 2012.” — Ray rinaldi, the denver post
Media and Broadcasts 2012 Many of the season’s performances were shared with millions via broadcast. Building on its visit last year, the country’s top classical radio show, Performance Today (PT), returned to Aspen for a weeklong residency—Aspen is the only festival honored with a full-length residency. Media partnerships with the top tier of the classical stations in Denver, San Francisco, and the European Broadcast Union delivered the Festival’s artistic excellence to millions world-wide. Locally, Aspen Public Radio broadcast live two operas, Mozart’s The Magic Flute and John Harbison’s The Great Gatsby, as well as the final concert with Mahler’s Symphony No. 8. Media coverage ran the spectrum from Sunset Magazine to the Washington Post, which touted the Festival as “a full-scale school on the one hand and a concert festival on the other,” and also cited the “breathtaking Colorado landscape (a literally breathtaking altitude)” as part of the draw. In a July 2012 article for The Denver Post, Ray Rinaldi reminded audiences to be “ready for anything” at the AMFS. “There’s nothing quite like it, in the U.S. anyway,” he wrote, “and nothing more important to the state of classical music in 2012. Spend a few days at the fest and that becomes obvious. You hear music that would suffer neglect if Aspen didn’t program it. You get a glance behind the curtain, a genuine look at the process of putting performances together. You get to hang with the fest’s eager corps of summer students, and their optimism about the genre is infectious.”
Performance Today’s Fred Child, left, interviews Robert Spano and Robert McDuffie.
Emerson String Quartet Final Aspen Performance The Emerson String Quartet performed its final concert in Aspen as the group it has been for 34 years on July 12, 2012. The house was overflowing, and on the program was a riveting work the ensemble has not only performed but professionally recorded in Harris Hall: Shostakovich’s String Quartet No. 8. In February 2012, the group announced that long-time cellist David Finckel would depart the group in the spring of 2013. The Emerson will return to the AMFS for a concert in the summer of 2013 with its new cellist, Paul Watkins. David Finckel will also return in 2013 as a performer and artist-faculty member.
Benefits Nights to Remember Benefit evenings over the 2012 season together netted $314,824 in support of the Festival and School’s programs.
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Host Michael Goldberg, Marty Flug, and Robert Hurst at the 2012 Winter Benefit
Richard Edwards and Barbara Lee at the 2012 Season Benefit
Alan Fletcher, co-chair Toby Lewis, Julie Gunn, Nathan Gunn, co-chair Gael Neeson, and Robert Spano at the 2012 Season Benefit
National Council President Carrie Wells, Nicholas DuBrul, and Joan Fabry at the home of Richard Edwards for the 2012 Opera Benefit
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Edward Berkeley and Kay Bucksbaum
Robert and Soledad Hurst
The Opera Benefit on July 26 included an elegant dinner that was followed by the opening night performance of the Aspen Opera Theater Center’s production of Stephen Sondheim’s Sweeney Todd, the Demon Barber of Fleet Street.
Gael Neeson and Stefan Edlis
The Season Benefit on August 6 featured opera star Nathan Gunn performing an intimate evening of cabaret with his wife Julie Gunn on piano. Dinner afterwards was on the stage of the Benedict Music Tent.
Opera star Nathan Gunn
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Family of Supporters 2012 The Aspen Music Festival and School gratefully acknowledges the contributions of the following individuals and entities to the 2012 Annual Fund.
$75,000 and above INDIVIDUALS Mrs. Mercedes T. Bass Stefan Edlis and Gael Neeson Kelli and Allen Questrom
BUSINESSES AND FOUNDATIONS City of Aspen The Aspen Times Dorothy Richard Starling Foundation
$50,000 and above INDIVIDUALS Kay and Matthew Bucksbaum Ruth and Martin Carver
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Soledad and Robert Hurst Joan Fabry and Michael Klein Becky and Mike Murray Sidney E. Frank Foundation Nancy and Charles Wall
$30,000 and above INDIVIDUALS Anonymous Thomas H. Baer Mr. and Mrs. Edward P. Bass Susan Beckerman Melva Bucksbaum and Raymond Learsy Richard Edwards Jane and Michael Eisner, The Eisner Foundation Linda and Alan Englander Ann and Tom Friedman
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Operating Contributions Annual contributions are the backbone of support for the realization of the Festival and School’s mission. With these gifts donors support artist-faculty teaching, concert performances, opera productions, student education, guest artist musician appearances, community outreach, and many other essential projects. We remain profoundly grateful to each donor listed here.
Jessica and John Fullerton Mary E. and Erik Giese Meg and Bennett Goodman Sanford and Naava Grossman Irving Harris Foundation, Joan W. Harris Shirley and Barnett C. Helzberg, Jr. Louis & Harold Price Foundation, Inc. Jane and Gerald Katcher Barbara Koval and Michael Solheim Leonard A. Lauder Barbara and Jonathan Lee Toby Devan Lewis John P. and Anne W. McNulty Foundation Lisa and Will Mesdag Diane and Ron Miller Patricia M. and Emanuel M. Papper Foundation Dana and Gene Powell Anne and Chris Reyes Alice and Lew Sanders Betty and Lloyd Schermer June and Paul Schorr Jane and Larry Sherman Eva and Marc Stern Beatrice and Anthony Welters Ann Ziff
$17,000 and above INDIVIDUALS Barbara Allen The Crown Family
2012 Annual Report
Mr. and Mrs. David Dreman/ The Dreman Foundation Marcy and Leo Edelstein Lillian and Gordon Hardy Ellen and Irv Hockaday Judith Z. Steinberg and Paul J. Hoenmans Steve Marcus Mona Look-Mazza and Tony Mazza Leslie and Mac McQuown Judy and Werner Neuman Janet and Tom O’Connor Mary and Patrick Scanlan Caryn and Rudi Scheidt, Jr. Gillian and Robert Steel Martha and David Yocum
BUSINESSES AND FOUNDATIONS Alpine Bank of Aspen JUSTIN Vineyards & Winery Thomas S. Kenan Institute for the Arts LLWW Foundation Maja DuBrul
$11,000 and above INDIVIDUALS Katie and Carl Bergman Bishop Family Foundation Rita and Irwin Blitt Susan and Richard Braddock Sam Brown and Alison Teal Centennial Partners Sylvie and Gary Crum
Lorraine and Alex Dell Marcia and John Donnell DuBrul Family Margy and Jerry Eberhardt Nanette and Jerry E. Finger Jane and Bill Frazer Ann and Gordon Getty Foundation Merle C. Chambers and Hugh A. Grant Gerri Karetsky and Larry Naughton Bette and James MacDonald Holly and John Madigan David Newberger Melani and Rob Walton
BUSINESSES Asian Cultural Council Aspen Public Radio Aspen Square Condominium Hotel Buccellati Carl’s Pharmacy Seabourn Fondation Princesse Grace de Monaco The Gant Condominium Association The Little Nell Ski.com
$7,000 and above INDIVIDUALS Tracy and Dennis Albers Marilyn and George Baker Charles Balbach Vivian and Norman Belmonte Barbara and Bruce Berger Ute City Charitable Trust and Elissa Davis Neil G. Bluhm Stephen Brint and Mark Brown Mr. and Mrs. Richard Cantor NoĂŤl and Tom Congdon Bunni and Paul Copaken Margit and Lloyd Cotsen The Patricia Dedman Family Foundation Claire Dewar Muffy and Andy DiSabatino Donald G. Drapkin Pamela R. and Kenneth B. Dunn Gail and Richard Elden Gail and Alfred Engelberg Debbie and Jerry Epstein
The Honorable and Mrs. Melvyn J. Estrin The Richard and Deborah Felder Foundation Esther and James L. Ferguson Alan Fletcher and Ron Schiller Nancy Furlotti Barbara and Richard I. Furman Julie and Peter Gerson Sissy and George Gibson Sandy and Lee Godfrey Barbara Gold Marilyn and Dean Greenberg Jan and Ronald Greenberg Celeste C. and Jack J. Grynberg Julia Hansen Stanley Hoffberger Deborah and Larry Hoffman Janet A. and Robert B. Hoffman Ann F. and Edward R. Hudson, Jr. Mary Ann Hyde Debbie and Richard Jelinek Tina Chen and Marvin Josephson Linda and Eugene Kalnitsky Sally B. Kaplan Sylvia and Dick Kaufman Barbara Bluhm-Kaul and Donald Kaul Don Keltner Marianne and Richard Kipper Anna-Lisa Klettenberg Cat and Jon Koplovitz Ann and Tom Korologos Linda and Gary Krat Ellen and Fred Kucker Katharine and James Kurtz Sheila and Bill Lambert Marianne and Sheldon Lubar Kathy Mayer Nancy and Peter Meinig Gail and Alec Merriam Diane and Mead Metcalf Bettie McGowin Miller Stephanie and Michael Naidoff Ilene and Jeff Nathan Judith E. Neisser Jane and Daniel Och Nedra and Mark Oren Julie and Doug Ostrover Judith Swift and Dick Osur Mary K. Oxley Foundation Cathryn and Victor Palmieri Jean and Allen Parelman
Erin Leider-Pariser and Paul Pariser Fonda and Charles Paterson Merbie and Tom Payne Pauline Pitt Dorothy and Aaron Podhurst Kathryn and Richard Rabinow Catherine and Tom Reagan Lecie and Jack Resneck Lynda and Stewart Resnick Myra and Robert Rich Carolyne Roehm and Simon Pinniger Phil Rothblum Nancy and Miles Rubin Arlene and Chester Salomon Lois and Tom Sando Gloria Scharlin Danner and Arno Schefler Phyllis and David Scruggs Isa Catto Shaw and Daniel Shaw Lois Siegel The Simms/Mann Family Foundation Audrey and Ted Spiegel Nancy and Bruce Stevens Gayle and Paul Stoffel Helen E. Stone Curt Strand Marcia Strickland Volk Family Betty J. Weiss Marion W. Weiss Carrie and Joe Wells Elle and Phil Winn Ruth Winter Tamara and Frank Woods Paula Paepcke Zurcher
BUSINESSES AND FOUNDATIONS Aspen Sojourner Chateau Roaring Fork The Aaron Copland Fund for Music, Inc.
Aspen Music Festival and School
Frias Properties of Aspen, Chuck Frias & Tim Clark Ernst and Wilma Martens Foundation Fred and Elli Iselin Foundation Mountain Chalet-Aspen
$3,500 and above INDIVIDUALS Penny and Fred Abrams Ronald Ager Jeannette and Tom Anderson Janice and Philip Beck Mary and James Berglund Sue and Jock Bickert Nancy and Bob Blank Mark A. Bradley Mr. and Mrs. Peyton Bucy Newton Bartley and Eric Calderon Brian and Susan Dickie Germaine and Al Dietsch Laura Donnelley Sherri Draper Anne Farish M. Joan Farver Mary and Paul Fee Anne and Alan Feld Theba and Buster Feldman Mr. and Mrs. Owen O. Freeman, Jr. Honorable Joseph and Alma Gildenhorn Barbara and Gary Goldstein Richard Goodwin Andi and Jim Gordon Mary F. Griffith Marianne and John Gunzler Mr. and Mrs. Kenneth Gutner Sarah and Joel L. Handelman Alison and Nikos Hecht Lita Warner Heller Juliane Heyman Phyllis S. Hojel
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Erica Hartman-Horvitz and Richard Horvitz Fern K. Hurst Dorothy and Marvin Jacobs Dr. and Mrs. Norman S. Jaffe Jane Jenkins Lisa See and Richard Kendall Hyunja and Jeff Kenner Sally and Jim Klingbeil Meg and Mel Knyper Mary Jo and Dick Kovacevich Joe LaDou Mollie L. and Garland M. Lasater, Jr. Mimi and Don Leslie Nancy and Bart Levin Bertel M. Lewis Mary Ralph Lowe Phyllis and Saul Lowitt Mr. and Mrs. Lee R. Lyon Bert J. Maxon John P. McBride Family Betty and Jim McManus Ellie and Bob Meyers-Harvey B. Levin Charitable Trust Renee and Bruce Michelson Sue Miller Robert Prentis Morris and JoAnn Ross Marcie and Robert Musser Mr. and Mrs. Don H. Nelson Virginia Pearce Essie and Jordon Perlmutter Pat and Ed Peterson Marilynn and Charles Rivkin Phyllis and Sidney Rodbell
Ellen Roeser Michael and Debbi Fields Rose Gary Rosenau Susan and John Rothchild Judy and Gary Rubin Linda and Jay Sandrich Clare and Marius Sanger Lisa and David T. Schiff Barbara and Gene Schmitt Alece and David Schreiber Pat and Bill Sharp Evelyn and Martin Siegel Tamara and Scott Stuart Vivian Sweeney Nadine Asin and Thomas van Straaten Linda and Dennis Vaughn Andrea and Marshall Yablon Alison and Boniface Zaino
BUSINESSES AND FOUNDATIONS Aspen Magazine Clark’s Market Community Banks of Colorado Dancing Bear Aspen European Caterers, Ltd. FIJI Water Hotel Jerome Les Dames d’Aspen Miners’ Building Pitkin County Dry Goods The Solid Rock Foundation The Thrift Shop of Aspen US Bank Vectra Bank Colorado
Road Scholars Come to Festival for Seventh Year In 2012, Road Scholars, a world-wide adult continuing education program formerly known as Elderhostel, brought three one-week programs to the Festival, comprising a total of one hundred people. This was the seventh year Road Scholars ran a program in conjunction with the Aspen Music Festival and School. Led by a music professor, each group experienced the best of the Festival and the Aspen area, including attending concerts, master classes, lectures, and taking guided tours of the City of Aspen and the Maroon Bells. The participants especially loved taking backstage tours, listening to a private chamber performance, and learning about the daily life of a music student.
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$1,750 and above INDIVIDUALS Cornelia and Nathaniel Bates Jill and Jay Bernstein Janet and Robert Blaich Gabriel Brener Jon Busch Phyllis M. Coors Antonia Paepcke DuBrul Caroline W. Duell Lee and Mel Eagle Charles B. Edison Memorial, Mrs. Charles B. Edison Suzanne Farver Susan and George Fesus Ellen Schloss Flamm Virginia and Gary Gerst Nancy Goeres and Michael Rusinek Susanne H. Goldstein Renie and David Gorsuch Lenore and Bernard Greenberg Jennifer and Paul Gregory Brenda and James Grusecki Estate of Elizabeth Guenzel Alexander Henkin Dorene and Frank Herzog Ruth and George Hopfenbeck Tom Isaac Cathy and Walter Isaacson Shana Johnstone/Shenandoah Foundation Bonnie Levinson and Dr. Donald Kay Harriet Washton and George Kaye Martha and Garnett Keith Jeanne and Richard Levitt Linda Dresner and Ed Levy, Jr. Perry J. Lewis Dr. and Mrs. John J. Lilley Sylvia and Jaime Liwerant Anne and Austin Marquis Linda and Gary Nathanson Donald and Judith Norris Nancy Odén Mr. and Mrs. Robert D. Pugh Rockwood Charitable Trust Helen and Marc Rubenstein Ammanda and Jeff Salzman Elaine and Vincent Santucci Lorraine and Mark Schapiro Karen Setterfield and David Muckenhirn Carole and George Shaw Yvonne and Michael Silverman
2012 Annual Report
Dana and Edward Slatkin Dr. and Mrs. C. Richard Stasney Sandy and Stephen Stay Andrea and Lubert Stryer Mitzi Webber Judith and M. Richard Wyman Zanin Family Foundation Joan and Karl Zeisler
BUSINESSES AND FOUNDATIONS The Arts Federation Aspen Daily News Aspen Self Storage Warehouses Casa Tua Frette Harriman Construction, Inc. WAMSO
$700 and above INDIVIDUALS Floyd Abramson Nancy and Paul Adams Becky Ayres Michael Behrendt and Ivan Cassar Judy B. Biondini Catherine and Bill Cabaniss Shirley Chann, In Memory of Earl Kai Chann Patricia and Gustavo Cisneros Drs. Janet and Henry Claman Nancy Manderson Patricia O. Cox Mary and Jack Cronin Dave Danforth Marian Lyeth Davis Dudley and Michael Del Balso Frannie Dittmer Mary Dominick and Sven Coomer DuBose Family Foundation Merle Dulien Judith Barnard and Michael Fain Mary Ann Frenzel Ricki and Peter Fuchs Frances and Darby Glenn Karen and Jerry Goldman Robert S. Graham Arthur Greenberg Judah S. Gudelsky Vinod Gupta Sally and Steve Hansen Linda and Steven Hill
Eveline Hoffman Susan A. Ingerman and Arlene Siegelman Laura and Michael Kaplan Esther Kartiganer Ann and Stephen Kaufman Jackie and Jerry Kehle Kathleen and Ken Kliewer Lucia Swanson and Ted Levine Nancy and Robert Magoon Marlene and Fred Malek Stephen Marsters Tita and Dan McCarty Connie Heard and Edgar Meyer Roberta and John Michelman Bette and Donne Moen Caroline Y. and John Moore Betty Naster Jack Nicholson Glenda and Doug Otten Drs. Amy D. Ronner and Michael P. Pacin Jacqueline Berz and Barry Panter, M.D., Ph.D. George C. Perreault Hensley and James Peterson Cyrena and Lee Pondrom Christy and Bill Pope Harold and Robin Quinn Betsy and David Ratcliff Arthur and Toni Rembe Rock Elaine and Marvin Rosenberg Iris and Phil Rosenberg Loie Rudge Jo and Dick Sanders Sally Saunders Kitty P. Sherwin Irene and Phil Shiekman Ellen and Mort Silver Brian P. Simmons Mr. and Mrs. Heinz K. Simon Susanne and Jack Sogard Austine Stitt Alana Spiwak and Sam Stolbun Norma and Don Stone
Barbara and Bob Sypult Karin and Harry Teague Harry Teague Architects Mi Hyon and Joaquin ValdepeĂąas Evelene Wechsler Jo and Howard Weiner Sallyann Wekstein Norman Werbner Mary and Hugh Wise King R. Woodward Barbara and John Zrno
BUSINESSES AND FOUNDATIONS
Bruce Berger conducts the July 4 band in a patriotic favorite.
AMFS Faculty Fund The D’Addario Music Foundation Sigma Alpha Iota Neil-Garing Insurance Oates, Knezevich, Gardenswartz, Kelly & Morrow, P.C. Pfizer Inc. two leaves tea company
$350 and above INDIVIDUALS Elaine and Hirschel Abelson June and Hovik Abramian Ruth C. Abramson Marsha and Bill Adler Joan M. Angotti Sue Anschutz-Rodgers Susan and Jack Apple Carole and Arnold Bailis Donna Fisher and Skip Behrhorst Phyllis and Sanford Beim Peggy Scharlin Ben-Hamoo and Shlomo Ben-Hamoo Carol and Mark Berliant Anne and Clarence Blackwell Sandra M. Moses and Harvey S. Bodker Dr. Eugene L. Brand
In Memoriam The Festival remembers the following friends who passed away this year: Ellie Ager, Grace Brod, Bruce Fretz, Peter Gerson, Anne Gottlieb, Judith Hoffberger, Esther Kartiganer, Paul Krausch, Hermine Nessen, Selma Rose, Dwight K. Shellman, and David Yocum.
Dr. and Mrs. Daniel M. Brener Liz and Brooks Bryant Ellie and Roy Camberg Dr. Bonnie Camp Carleen and Ken Canfield Carob Fund of The Community Foundation, Boulder County Nancy and Richard Carrigan Carol and David Clemons Sheila M. Cleworth Willow and Bob Connery Claire and Wayne Dailey Alice Davenport Nancy Thomas and Roger Davis Lee W. Dorsey Bernice and Loyal Durand Delia Duson Eva and Nicolas Fainsod and family Julia and Michael Fink Pamela and Roy Finkelman Rhoda and Henry S. Frank Edmund Frank and Eustacia Su David Frantz Ingrid A. Gillette DeeDee and Herb Glimcher Lynda M. Goldstein Ruth Grinspoon Marcy and Howard Gross Lulie and Gordon Gund Paula and David Harris Bunny and John Harrison Brigid and Brian Hazen Stephanie and Kyle Heckman Rosemary Heffley Kristen Henry Casady M. Henry Dale and Stephen Hoffman
Aspen Music Festival and School
Dr. Leonard Horwitz Barbara Reid and David Hyman Mr. and Mrs. David K. Ingalls Virginia and Richard Irwin Sandy and Charles Israel Dr. Joseph and Mrs. Cathy Jankovic Susan and Donald Jarzemsky Kathy and Brian Johnson Ann and Doug Jones Meg and Ralph Jones Edward T. Joyce Kathy and Richard Kaplan Susan and Richard Kaplan Eva and Peter Kaus Elizabeth and Michael Klump Gloria and Robert Koenig Christa Kohler Gloria Korngold Marilyn and Earl Latterman Nancy R. Levi Kristin and Chuck Lohmiller Pat Maddalone Evi and Evan Makovsky Roberta McCoy Andrew and Laura McCullough Family Sally and Bruce McMillen Mary and Kiefer Mendenhall Suzanne and Taber Meyers Dr. and Mrs. William Mitchell Herbert R. and Paula Molner Debbie and Bill Montgomery Betty Kelly Moore Dottie M. Moore Eudice and William Morse Dr. Stan and Nancy Muenzler Bert Neirick
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Naughton-Nicholson Foundation Jane and Carroll Novicki Beverly and Staman Ogilvie Baba and Tom Owen William A. Parker, Jr. Joyce and Ken Polse Pamela and James Porter, III John S. Price Pearl and Stephen Renaker Edie and Donn Resnick Sarah Broughton and John Rowland Priscilla A. Sadler Debra and Dennis Scholl Alexander Schonwald Mary Hugh Scott Foundation Joseph W. Serene Susan Sheridan Edgar Simons Alicia and Alan Sirkin Susan Bromberg Skolnick and Robert Skolnick Rona and Norman Smith Lorraine and Pat Spector Phyllis and Ron Steinhart Ann and Daniel Stern Freddie and Arthur Stromberg Mimi C. Teschner Anne and Bill Tobey Carol and Mack Trapp Mickey and David Unger Ginni and Kent Valley Terrie and Perry Waughtal Jerome P. Webster Janice and Nat Weisler BJ Williams
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BUSINESSES AND FOUNDATIONS Aspen Maintenance Supply, Inc. Aspen Sports Medicine Town of Basalt National Federation of Music Clubs Earth-Wise Horticultural, Inc. Hetta and Jesse Heath Independence Press, Inc. Motorola Mobility Foundation Mu Phi Epsilon Foundation Rose Community Foundation Ten Ten Foundation
$175 and above INDIVIDUALS Anonymous Marcella W. Ach BJ and Michael Adams Dr. John E. Amos Jon Anda Robert C. Anderson Fran and Dr. Dan Arnold Joan Balter Lisa and Joe Bankoff Cathy Tschannen and William Banzhaf Carol T. Batchelder Gail and Jeffrey Bayer Christine S. and Leif C. Beck Barbara and Karl Becker Edward C. Berkeley Marcia Bishop Rita K. Bloom Fran and Larry Blum
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Frances Freedman Blum and Jon Blum Kitty Boone Linda and Bob Brining Markell Brooks Carter and Dane Brooksher Marian and Buzz Brown Ronald Buckly Rebecca Callahan and Family Dr. Margaret Waisman and Dr. Steven S. Callahan Jacqueline and Newton Clark Diane Cooper Lucy and Thomas E. Creighton Carol and Walt Culin Catherine Cussaguet Sheryl and Michael DeGenring E. Lee DeGolyer, III Kara Horner and Spencer Denison Phil Desmond Margaret DeWolf Ina and Jan Dlouhy Penny and Charles Donelan Carrie and Ronald Drazin Mary Elizabeth Droste Nancy S. Dunlap Mr. and Mrs. Aaron Edelstein Tracy and Bubba Eggleston Joan and Leonard Eisen Peter Emily Nancy and Mike Estrada Debra Falender Jane and Gerald Feibusch Monica Fried Mary and Gib Gardner Sara Garton Sally and Alan Gass Barbara Gassan, in memory of Leon Brin Elvie and Yale Gieszl Ethel and Bill Gofen Ann and Jim Goodman Nanette and Irving Greif, Jr. Jane and Allen Grossman Jean Guyton Elise and Allan Hall Mary Ann and James R. Harris Sue and Bob Hess Sharon and John Hoffman Sandy and Peter Johnson Kathleen and Warren Jones Polly and Frank Kemp Meg and Phil Kendall Sylvia Blau and Rabbi Samuel Kenner
2012 Annual Report
Dr. Edith W. King and Matthew King Dr. Gilbert Klapper and Ms. Judy Kamin Kathryn and John Koch JoAnn and Darrell Lafitte Andrew Lan Doris and Bob Latousek Judith and Robert Layton Ethel and Allen Levantin Marilyn and Robert Levin Denison Levy Mikey and Marty Lustberg Traudl and Chuck Lyons Sydney S. Macy Ginnie and Tom Maes Jeannette and Mervyn Mandelbaum Phyllis and Paul Marcus Peggy and David Marks Dr. Frank C. Marino Foundation, Inc. Virginia and William McGehee C. Glenn McLoughlin Sonja and Paul Micksch Trudy Milcan Wendy and Don Milliman Shelah and Marc Moller Jane Moy and Paul Ruid Bob Murray Margaret S. Nagengast Ricki and Kerry Newman Frances Jean Norris Robin Amster and Steve Olszewski Miriam and Peter Orleans Peggy and Paul Pace Frank Pajerski Dr. and Mrs. David S. Pearlman Susan and Paul Penn Sarah and David Pesikoff Marjorie Musgrave and Frank S. Peters Lynn E. Pierce Stephen Pinksy Deborah Prince Gloria and Joe Pryzant Faith and David Rachofsky Clare and Charles C. Reel Ann and Gene Reiling Joel Reynolds Shirley and Dave Ritter Mr. and Mrs. James G. Robbins Melanie and Myron Roschko Dr. and Mrs. Reuven Rosen Christopher Rouse Jo Anne and Dick Rubinoff
Bill Russell Mark Salkind and Miranda Heller Mary Salton Susan and Sheldon Schneider Merle and Dr. Joel Schneider Elyse and Jerry Schostak Leah and Billy Schultz Gail and Merlin Schulze George Seifert Jean and Mike Sewell Frank Shelden Sally Shiekman-Miller Pamela Shockley-Zalabak Dr. and Mrs. William F. Short Gloria and Marvin Siegel Bobbi and Gary Siegel Jo Ann and Samuel Silverstein JoAnn C. Skillett Sandra Smith Diane and Jack Smith Freda Gail Stern Dr. and Mrs. Robert Stonerock, Jr. Stephanie and Arthur Strasburger Kathy Hansen and Edward Sweeney Katherin Tachau Judith and John Taubman MaryAnn Tittle Charlotte and Dale Toetz Kelli and Bob Tregemba Glynn B. Tucker Margaret F. Walker Joyce L. Watson and Martin R. Warshaw Elizabeth Weber Nancy and Jerry Weil Tina and Brian Weiner Linda and David Weiss Nancy and Ed White Hans Widmer Lee and Jim Wockenfuss Bruce H. Wolf, MD Maureen Stone and Doug Wyatt Cindy and Ed Zasacky
BUSINESSES AND FOUNDATIONS Appraisal Office Aspen, Ltd Aspen Animal Hospital Dixie Dog Ventures, LLC Michael A. Vernon & Co. C.P.A., P.C. Microsoft Matching Gifts Program Wedum & Assoc. P.C.
$100 and above INDIVIDUALS Anonymous Sherry Achi C. Willis Adams, III Sarah C. Brett Smith and Stephen L. Adler Gregg R. Anderson Anne Anderson Margy Anderson Carole and Paul Auvil Kristin Balko Cathrine Blom and Gordon Baym Daniel Becker Mary Ann and John Beckley Susan and Steven Beebe Richard Berkshire Dr. William J. Bertschy Nancy and David Billings Ann and Eliot Bliss Nancy and Evan Boenning Annette and Lacy Boggess Jacqui and Stephen Bomar Dorothy Fait and David Borenstein Patrick Bory Phyllis Bosworth Jonathan Boxer Misook Yun and James Boyd Julia and Merrill Bradley Kathleen and Howard Brand Joe Brazie Natalie and Alfred Brenner Hansi Brenninger Galen Bright Wendy and Dale Brott Anne and Wayne Buckley Brigitte E. and Peter C. Bunevich Shelley Burke Anne W. Burrows Michael Buysse Karen Kribs and James Cain William Carrico Dick Carter Ellie Caulkins Jennifer M. Causing Joseph Chalal Lynda and Ronald Charfoos Rika and David Charley Jill and Allen Chozen Caroline Christensen Kim Coates Jan and Ned Cochran
Welcome Dusty Hamrick as New Volunteer Coordinator In 2011, Jane Kessler, a volunteer of more than thirty years in a variety of roles, retired from her role as the coordinator of administrative volunteers. The responsibility of filling Jane’s shoes went to Dusty Hamrick, a volunteer with the AMFS for more than twenty years. Many thanks to Dusty for her outstanding dedication to the Festival.
NancyBell Coe and William Burke Barbara and John Cohn Peter R. Cohn Wini and Jack Colleran Karen and Bert Condie Ashley and Michael Connolly Barb Bunce and Tom Cooper Emily and Rick Corleto Barbie and Tim Cottrell Linda and Clay Crossland Anna Beth Culver Bonnie and Mike Daniels Scott Davidson Sandy Simpson and Don Davidson Adelaide and James Davis Shirley David Sue and Richard de Campo Liza and Scott DeGraff Cecilia and Don DeLise Sonnie and Bill Dockser Carol and Buzz Dopkin Pamela Toon and John Doremus Paul Dragoumis Joan Huffer and Robert Dugger Jan and Norty Eisenberg Libby and Ken Elbaum Patty Elias Lucy and Dan Ellerhorst Julie Ellis Jennifer Engel Marcia and Rod Erin Ashley and Andrew Ernemann Cindy and Jeff Ernst Tim Estin Selena Evans Karen and John Fagelson Patti and Joe Farago Dr. Kathleen W. McGinnissFeinzig and Mr. Herbert Feinzig
Aspen Music Festival and School
Gary Feldman Susan and Richard Finkelstein Barbara and Ed Foran Barbara and Leslie Fox Drs. Barbara and Len Frank Karen and Marc Friedberg Sandra and Harold Friedman Adele and Carl Frischling Dorothy Frommer Jane Galantowicz Jody and David Gardner Kelli Gardner Katharine and Alfred Gardner Lauren Garrity Susan and Herbert Garten Barbara Gilmore Shirley and David Ginzberg Betsy Schwarm and Rick Glesner Sherry and Britton Goetze, III Sallie Golden Adam Goldsmith Robert Goldstein David V. Gollon Sue and John Goott Sylvia and Marvin Gordon The Martin B. Greenberg Foundation, Inc. Betty and Bernard Greenwald Dean Gresk Mary and Rick Griffin Sandy and Darryl Grosjean Donna Guerra-Smith Jody and Robert Gurtler Terry Hale Jo-Ann Hall Alicita and Warren Hamilton Georgia and Andy Hanson Portia Harcus Judi and Wayne Harris David Harris Marianne and George Hartnett
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2012 Annual Report
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Constance Harvey Vera Haubensak Sally Greer and David Heil Nancy B. Heldman Julia Herman Anne W. Hetlage Susan Dodson Hiller Cindy and Bill Hippel Elizabeth Hirsch Betty and Syd Hodkinson Susanna Hoeppli Shirley Holst, in memory of Jack Holst Vicki and Tom Horwich Sue Howarth Patti and Rob Hunter Paul W. Husted Janet and Rick Hyken Mr. and Mrs. Frank R. Isenhart, Jr. Denise and Erv Jindrich Martie A. Moreno and Roger L. Johnson Shael Johnson Mrs. Diane Kalman Linda Heller Kamm Tracy and Brian Kapiloff Maury and Gerry Kaplan Karen and Michael Kaplan Joseph, Audrey, Deborah, and Alison Kartiganer Peter Kelley Chris and Gary Kelly Stacey Kelly Susan and Albert Kern Maria Kernahan Soon Duck Kim and Kang Il Kim Sandra Lee and Keyn Kjerulf Krista Klees Roberta and Mel Klein Carol Ann and Don Kopf Helen and Kurt Kornreich Judy Kravitz Doris La Mar Doris Lackner Stephen LaMar Pat Lampton Sherri and Robert Langley Marian and Leonard Lansburgh Michael Latousek Thomas Latousek Rose Ann and Michael Leiner Angi Lester Lynne and Dan Levinson Mark Lewis Stephanie Lewis
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Grace Lichtenstein Janet and Gary Link Jennifer and Greg Long R. Wallace Lord Jeri and Ron Loser Julie MacLean Kristen Maley Jocelyn S. Malkin, M.D. Donna and Mickey Mandel Carolyn and Martin Manosevitz James Marcus Joan and Michael Marek Julia Marshall Martha Mecom Mr. and Mrs. Jacob Mehl John Menninger Dianne and William D. Mensch, Jr. Mary Anne Meyer Cynthia Milling Melinda and Morris Mintz Nancy and Charles Mitchell Barb and Dick Moebius Karen and Chris Mohr Tim Mooney Leah and Bill Moriarty Stephen D. Morton Drs. Richard and Elizabeth Naftalis Nassan Family Lyn and Doug Nehasil Michael Neuman Dr. Amelia and Aaron Neustadt Mary and Mark Neustrom Lucy and Gary Nichols Cathleen Noland Winifred and George Norman Mr. and Mrs. Hiram M. Nowlan Deb and Keith Oates Linda Obuhanick Theresa O’Keefe Raymond Ollett The Rev. and Mrs. William J. Paran Judith Parkinson, in memory of Scott Parkinson Jerrold J. Parrish, MD Becky and Bill Parzybok Ginny Car-Skaden Passoth Jan and Jim Patterson Judith Dows Sandra and Fred Peirce Marsha and John Pendley Forest O. Peneton Vicki Reynolds Pepper and Murray Pepper Terry Lee and Bill Perich
Aspen Music Festival and School
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2012 Annual Report
Joyce and Roger Perry Sara M. Peterson Stevie Phillips Anne Powell-Riley Kirk Prichard Pamela Pryor Wanda Wray Putnam Andrew L. Quiat and Jane Keener Quiat Janet and Joe Raczak Ewald Rainer Dr. and Mrs. Pablo Ramos Joe Randall Sue Lavin and Jack Real Taylor and Brenon Reed Ellen and Milton Reitman Kay Richter Michele and Richard Right Jim Robbins Thorn C. Roberts Mr. and Mrs. E.B. Robinson, Jr. Ruth and Mel Ronick Barbara Rosin and Harvey Kallick Jean Rueschhoff Patti and Greg Rulon Karen and Nathan Sandler James Santelli Nina and Joshua Saslove Judith C. Schalit Marion A. Scharffenberger Rosalie and Donald Schiff Kathleen and John Schoenecker Judith J. Schramm Mr. and Mrs. Leonard Schreier Debra and Gerald Schwartz Joel R. Seligman Reina and Alberto C. Serrano Earlene and Herb Seymour Sally and Robert Shafton Nancy and Philip Shalen Karlyn and Don Shapiro Tom Sharkey Carla J. Shatz Boyce and Daniel Sher Mary Ellen Sheridan Carolyn and Dick Shohet Jill Shore and Harry Feldman Robyn Samuels and Bruce Shragg Mr. and Mrs. Richard W. Simpson, lll Heather Sinclair Stanley Sloss Casey Slossberg
Lynn B. and Charles C. Smith, MD Julie and Barry Smooke Lois Sollenberger Pat Spitzmiller Randal Stahl John Starr Bunny Freidus and Mr. John Steel Barbara Sternberg Diane and Stephen Stewart Corey Strahm Dr. and Mrs. Barry S. Strauch Dolores Stutsman Alicia and James Sweeny Anne Swope K. M. Tafejian Phyllis W. Tate Melissa J. Temple Carla Thompson Dottie Thomson Marie Torreano Nighi Tran Tara Turner Sandra, Stephen, Max, Jonathan, Lindsay, Andrew and Mara Vinnik, in memory of Irwin Edward Vinnik, MD Julian Vogt Connie and Brent Waldron Mary Ann and Ted Wallace Becky and Craig Ward Donna and Tom Ward Katharine Warne Hanna M. Warren Jane Wasson Sheila and Jack Weinberg Irene Weinrot Wendy and Elliott Weiss Emily and Fred Weitz Susan Whitney Marj and Bill Wise Jaqueline Thaxter Wogan Rotraut and Reingard Wolter Melinda and John Wright Robert Zupancis
BUSINESSES Austin, Peirce & Smith, P.C. Jack Wilkie Builder, Inc. Kruger and Company Lyn Segal Fine Art, Ltd. Patrick, Miller & Kropf, P. C. Poppycock’s Café
Revenue & Expenses 2012 In 2012 we posted our second consecutive year of surpluses following the economic downturn. We accomplished this by rigorously managing expenses while simultaneously increasing revenue. There were a number of new donors that joined our organization in the summer of 2012 and their gifts continued to keep our fundraising effort healthy straight into the fall. In the end, 2012 saw a surplus of $93,843.
Student enrollment In 2011, MAA began a two-year process of implementing a new database to recruit students, process applications, and track enrollment. This system proved to be highly successful in increasing student application numbers and increasing the efficiency of processing them. Using this system, notifications to the students went out earlier than ever before. However, we found that acceptance rates and the schedule of admissions were much different due to the new online admissions process and enrollment ended up at only 613 on a budget of 637. In 2012 we increased tuition only slightly, by $100 (from $3,100 to $3,200) and increased room and board by $100 (from $3,200 to $3,300). To manage a shortfall in requests for student housing we had in 2010 and 2011, we subleased eighteen beds at Marolt Ranch to Sodexo, our food service provider.
Ticket sales Tickets sales in 2012 were strong compared to the past three years and came in $26,875 over 2011. We increased prices slightly for our orchestral concerts and also made
Revenue
more significant increases in the price of certain recitals as we realized, after analysis, that we have been undercharging for these based on their artistic and popular appeal.
Development In 2012, we increased contributions from Board, National Council, and individuals by $130,751 or 3.8% over 2011. Our development events raised a total of $314,824. In addition we successfully solicited special gifts for Mahler’s Symphony No. 8, “Symphony of a Thousand,” the redevelopment of our website, new instrument acquisitions and special broadcast opportunities.
Investment income The AMFS’s endowment policy is to draw 5% of a rolling average, net of fees, for operating expenses. Per the recommendation of the AMFS Investment Committee, we calculated the endowment draw in 2012 based on a 30-month rolling average. This is an increase from the 24-month rolling average used in prior years. A longer average is a more conservative method for calculating the draw, especially in volatile markets. The AMFS’s invested endowment had a return of 16.58% for fiscal year 2012 to end at a balance of $54.3 million. In the past ten years, the AMFS’s average annual return was 7.44% as compared to the S&P average annual return of 8.01%. For both the one and the ten-year period, AMFS’s return was achieved with significantly lower standard deviation as compared to the broader S&P 500.
Expenses
Other income 2.9%
Programs 1.2%
Investment income 19.7%
Student fees 26.2%
Marketing
Management and general costs
2.6%
16%
Cost of sales-other earned income
Student assistance and other school costs 24.3%
2.3%
Program service compensation
Ticket sales Development (operating)
11.1%
8.8%
36.5%
Faculty compensation Administrative compensation
16.9%
23.8%
Other earned income
Guest artist compensation
3.6%
4.1%
Aspen Music Festival and School
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2012 Annual Report
23
Revenue & Expenses 2012 ASPEN MUSIC FESTIVAL AND SCHOOL | STATEMENT OF REVENUE AND EXPENSES
As of September 30, 2012
2012 Budget
$3,401,870
$3,482,100
($80,230)
$3,334,054
1,445,960
1,439,800
6,160
1,419,085
479,563
461,150
18,413
450,376
4,749,080
4,772,950
(23,870)
4,785,004
2,557,661
2,476,000
81,661
2,303,091
373,585
389,000
(15,415)
312,445
13,007,719
13,021,000
(13,281)
12,604,055
2,009,988
2,046,700
(36,712)
1,986,714
1,149,549
1,160,750
(11,201)
1,130,579
3,159,537
3,207,450
(47,913)
3,117,293
1,507,253
1,496,000
11,253
1,345,013
REVENUE Student fees Ticket sales Other earned income Development (operating) Investment income Other income ToTAl REVENUE
EXPENSES Student assistance and other school costs: Student assistance Other school costs TOTal Faculty compensation: Base Travel Housing Shares, classes, coachings ToTal Guest artist compensation administrative compensation Program service compensation Cost of sales-other earned income Marketing Programs Management and general costs ToTAl EXPENSES NET FRoM oPERATIoNS Capital Improvements - Unfunded Senior Staff/MD Search Expenses Transfer of staff salaries to capital campaign and project budgets NET REVENUE
24
Aspen Music Festival and School
:
Variance of Actual to Budget
2012 Actual
2011 Actual
25,224
21,850
3,374
25,497
627,573
636,000
(8,427)
626,592
42,650
44,600
(1,950)
39,050
2,202,700
2,198,450
4,250
2,036,152
527,217
519,200
8,017
529,603
3,096,007
3,124,000
(27,993)
3,031,497
1,140,399
1,156,450
(16,051)
1,108,579
302,271
302,800
(529)
304,125
331,131
348,050
(16,919)
295,784
149,605
209,000
(59,395)
95,714
2,074,421
2,020,600
53,821
1,948,232
12,983,288
13,086,000
(102,712)
12,466,979
24,431
(65,000)
89,431
137,076
(93,686)
(115,000)
21,314
(79,402)
(16,265)
0
(16,265)
(25,340)
179,363
180,000
(637)
17,901
$93,843
$0
$93,843
$50,235
2012 Annual Report
“For the future of music, you want young students to be instructed in the best way by the best people. This place is a great way to train musicians. It’s impossible not to learn.” — Joshua gersen, 2012 assistant conductor and alumnus of the american academy of conducting at aspen
Aspen Music Festival and School 225 Music School Road Aspen, CO 81611