Financial Status

FY 2022 was a year of re-emergence. Beginning with less than 25% in-person classes, we ended the year with over 70% in-person class offerings, resulting in 30% growth in overall tuition revenue. However, at the same time, federal government PPP loans ceased in FY 2021 and donations were down over 28% mainly due to the planned closing of our COVID-19 Relief Fund which had exceeded its lofty goals.

And, as we reopened our building to students and staff and increased our class offerings, our facilities costs, instructor costs, and other operating costs increased by 20%.

The resiliency of our students, staff, instructors, and community has allowed us to enter FY 2023 in a position of health, strength, and growth.

Operating Income And Expenses

Catalogs

After moving to an exclusively virtual catalog during the height of the pandemic, our printed catalogs have returned! From August 2021 to July 2022, CCAE has printed and distributed over 12,000 copies to our students far and wide, including right here on the streets of Harvard Square.

Social Media

With the return of in-person class offerings came the resurgence of students on social media sharing their artistic endeavors, culinary creations, and new skills. Each week the CCAE platforms shared #TestimonialTuesday and #StudentShareSunday posts to further cultivate our online community of learners. In the new year of 2022, the marketing team began filming Instagram Reels as an additional way to show off CCAE’s classes, facilities, and community. These short videos have garnered over 170,000 views in seven months. Stay up to date by following us on Facebook, Twitter, Instagram – and now TikTok!