The Cleveland Orchestra’s second century has so far been financially sound. The 2023-24 annual report released Monday showed a sixth consecutive year of balanced books. In its 106th season, which ended in June, the orchestra reported a small surplus of $6,000. It also increased its endowment by nearly 11% to $296 million.
“It feels like things are on their way up after a difficult pandemic,” said André Gremillet, orchestra CEO. He came to Cleveland in 2015 after stabilizing the finances at the New Jersey Symphony Orchestra and the Melbourne Symphony. At the time, Cleveland faced a multi-million dollar deficit. In 2019, he said his goal was to boost the endowment to $350 million. Now, he’s aiming to “eventually” grow the fund to $450 million.
“Part of that is the cost of living has gone up,” he said. “As we’re more successful, we become a little more ambitious. My goal, and the goal of the team here, is really to put the orchestra on the permanent path to financial health.”
Four years after the beginning of the pandemic, attendance numbers have also finally rebounded, with 254,000 attendees at 106 performances at both Severance and Blossom Music Center, where the orchestra had to skip the 2020 summer season.
“Blossom bounced back the following season when we reopened,” he said. “It’s definitely due to the open air and much easier environment. Severance was a longer recovery.”
Other orchestra highlights last season included several firsts, such as sensory-friendly performances and a Hispanic Heritage Month concert. Gremillet also touted the success of the Mandel Opera & Humanities Festival, which returns for the third time in May 2025. This year’s theme is “reconciliation” around performances of Janáček’s “Jenůfa.”
