CURTIS INSTITUTE OF MUSIC

EIN: 231585611 501(c)(3) Arts, Culture & Humanities

PHILADELPHIA, PA

Total Revenue
$47,618,232
Total Expenses
$39,303,786
Total Assets
$404,372,948
Net Assets
$401,807,275
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1924
Legal Domicile
PA
Principal Officer
ROBERTO DIAZ
Phone
2158935252
Tax Period
2024-06-01 to 2025-05-31

CURTIS INSTITUTE OF MUSIC, founded in 1924, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $47.6M in total revenue in fiscal year 2024. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.3M, a strong 17% operating margin.

Mission

TO EDUCATE & TRAIN EXCEPTIONALLY GIFTED YOUNG MUSICIANS TO ENGAGE A LOCAL & GLOBAL COMMUNITY

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $29,465,642
Program Service Revenue $3,736,231
Investment Income $14,138,138
Other Revenue $278,221
TOTAL REVENUE $47,618,232

Expense Breakdown

Grants Paid $1,965,435
Salaries & Benefits $17,077,585
Fundraising Expenses $1,928,409
Program Expenses $27,231,216
Other Expenses $20,197,786
TOTAL EXPENSES $39,303,786

Year-over-Year Comparison

2024 2023 Change
Revenue $47,618,232 $24,929,198 +0.9%
Expenses $39,303,786 $33,537,705 +0.2%
Net Income $8,314,446 $-8,608,507 -2.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
33
Independent Members
29
Employees
391
Volunteers
76

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$1,328,883
Total Directors
33
$1,301,716
Key Employees
4
$923,989
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERTO DIAZ PRESIDENT/TRUSTEE 37.50
Officer Director
$761,414 $67,894 $829,308
LAWRENCE BOMBACK TREASURER, SR VP OF ADMIN TO 6/24 37.50
Officer
$334,118 $21,333 $355,451
VINCENT FORD SR VP DIGITAL STRATEGY & INNOVATION 37.50
Key Emp
$273,233 $32,857 $306,090
NICHOLAS A DIBERARDINO TRUSTEE/PROVOST, DEAN 37.50
Director
$243,288 $41,319 $284,607
PAUL BRYAN DIR. OF ASSESSMENT AND ACCREDITATION 37.50
Highest
$218,137 $39,719 $257,856
PAMELA FRANK FACULTY MEMBER 12.00
Highest
$195,288 $48,190 $243,478
KIMBERLY GOULD VICE PRESIDENT, PEOPLE AND CULTURE 37.50
Key Emp
$212,704 $24,188 $236,892
IDA KAVAFIAN FACULTY MEMBER 12.00
Highest
$179,335 $42,359 $221,694
MICHAEL ANDREW LANE VP TOURING AND ARTIST MANAGEMENT 37.50
Key Emp
$175,893 $22,986 $198,879
MARCELLA GENEROSE MANAGING DIRECTOR OF DEVELOPMENT 37.50
Highest
$166,435 $21,927 $188,362
PATRICIA K JOHNSON VP COMMUNICATIONS & PUBLIC AFFAIRS 37.50
Key Emp
$158,393 $23,735 $182,128
STEPHEN L CASCIANO SR DIR FACILITIES AND CAMPUS SAFETY 37.50
Highest
$159,188 $8,397 $167,585
MARY CLAIRE SULLIVAN SECRETARY 37.50
Officer
$124,837 $19,287 $144,124
AMY YANG TRUSTEE/FACULTY MEMBER 30.00
Director
$102,160 $21,264 $123,424
ERIN KEEFE TRUSTEE/FACULTY MEMBER 12.00
Director
$61,311 $3,066 $64,377
DEBORAH M FRETZ CHAIR/TRUSTEE 1.00
Officer Director
$0 $0 $0
VICTORIA BOK VICE CHAIR/TRUSTEE 1.00
Officer Director
$0 $0 $0
EDWARD A MONTGOMERY JR VICE CHAIR/TRUSTEE 1.00
Officer Director
$0 $0 $0
ANDREW JACOBS TREASURER/TRUSTEE 1.00
Officer Director
$0 $0 $0
LOUIS BARBARIN TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM BRODY TRUSTEE 1.00
Director
$0 $0 $0
ANTHONY B CREAMER III TRUSTEE 1.00
Director
$0 $0 $0
GORDON FOWLER TRUSTEE 1.00
Director
$0 $0 $0
JUDITH FREYER TRUSTEE 1.00
Director
$0 $0 $0
MIGNON GROCH TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM HORN TRUSTEE 1.00
Director
$0 $0 $0
MARSHA HUNTER TRUSTEE 1.00
Director
$0 $0 $0
BRIAN JANDRUCKO TRUSTEE 1.00
Director
$0 $0 $0
LINDA E JOHNSON TRUSTEE 1.00
Director
$0 $0 $0
LISA LIEM TRUSTEE 1.00
Director
$0 $0 $0
YUEN SUNG LIU TRUSTEE 1.00
Director
$0 $0 $0
CONNIE B MCCANN TRUSTEE 1.00
Director
$0 $0 $0
JOHN H MCFADDEN TRUSTEE 1.00
Director
$0 $0 $0
FRANK J MECHURA TRUSTEE 1.00
Director
$0 $0 $0
JOHN J MEDVECKIS TRUSTEE 1.00
Director
$0 $0 $0
ROBERT H MUNDHEIM TRUSTEE 1.00
Director
$0 $0 $0
C RICHARD NEU TRUSTEE 1.00
Director
$0 $0 $0
ROBERT H ROCK TRUSTEE 1.00
Director
$0 $0 $0
MARK E RUBENSTEIN TRUSTEE 1.00
Director
$0 $0 $0
CHIONA XANTHOPOULOU-SCHWARZ TRUSTEE 1.00
Director
$0 $0 $0
JAY TOLSON TRUSTEE 1.00
Director
$0 $0 $0
PENELOPE P WATKINS TRUSTEE 1.00
Director
$0 $0 $0
JERRY WIND TRUSTEE 1.00
Director
$0 $0 $0
NADIA ZERHOUNI TRUSTEE 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $47,618,232 $39,303,786 $404,372,948 $8,314,446
2024 $24,929,198 $33,537,705 $385,338,043 $-8,608,507
2023 $43,513,793 $30,874,759 $369,843,342 $12,639,034
2022 $65,896,582 $26,055,133 $375,391,914 $39,841,449
2021 $50,045,370 $23,876,591 $372,858,620 $26,168,779
2020 $24,471,407 $24,868,090 $301,109,152 $-396,683
2019 $25,195,316 $25,422,542 $300,487,292 $-227,226
2018 $30,193,764 $24,653,678 $309,964,893 $5,540,086
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