Chautauqua Institution is known around the world as a place for civil dialogue and conversation. Closer to home, here in Chautauqua County, the Institution is known as a stronghold for financial support to the area. In Chautauqua County alone, $233 million in total economic impact is generated, 3,208 jobs are supported and sustained, and $28.8 million is contributed to the state and local tax base. Chautauqua Property Owners pay $10.4 million in property and school taxes to the Chautauqua tax base, representing 15% of all real property taxes paid in the county, even though they only represent 2% of all taxable properties in the county. Their annual spending, philanthropy and volunteerism multiply that impact considerably.

So, you can imagine my surprise to read a recent editorial with concerns raised regarding Chautauqua Institution’s financial outlook and its role within the broader Chautauqua County community. While it is true that the Institution, like many organizations in today’s evolving economic climate, is evaluating its long-term business model, it is important to dispel any notion that Chautauqua Institution is in a state of financial crisis.

Chautauqua Institution remains on firm financial footing, and our ongoing strategic planning is not a response to dire financial straits but rather a proactive approach to ensuring our long-term sustainability. The consideration of engaging an external consultant is a responsible measure, one taken to assess efficiencies and opportunities for growth. This is a step undertaken by any organization committed to responsible stewardship and long-term success.

Audited financial statements for 2024 will not be published until May, but we can confirm Chautauqua ended 2024 with $8.4 million in cash reserves with an additional $4.7 million in state and federal reimbursements pending. I would encourage anyone with questions about our financial standing to simply review our statements that are published annually online on our website and in our online Guidestar profile, where Chautauqua earns a Platinum Seal for transparency.

During my time as president, Chautauqua has met or exceeded seven of the past eight budgets. The 2022 fiscal year was the exception, when we were attempting to emerge aggressively from the COVID-19 pandemic. Also, during this time, Chautauqua set a record for single-year philanthropic giving. Giving to Chautauqua during our 150th anniversary last year exceeded $37 million. This was an improvement in 2023’s record breaking philanthropy, bringing our Boundless campaign within $5 million of its overall $150 million goal by May of 2026.

Chautauqua Institution recognizes and values its symbiotic relationship with Chautauqua County. Our visitors, patrons, and programs contribute significantly to the region’s economy and cultural landscape. The Institution remains steadfast in its commitment to community engagement, including our investment in educational initiatives, support for the Jefferson Project’s critical research on Chautauqua Lake, and partnerships that extend beyond our gates.

While we acknowledge that any organization’s future may bring adjustments to its programming and operations, these changes will be made with careful consideration and a focus on strengthening Chautauqua’s role as a beacon of arts, education, and civic dialogue. Our mission remains unchanged, and we are confident that the Institution will continue to thrive and evolve in ways that benefit both our immediate community and the broader region.

We encourage ongoing dialogue and welcome all citizens of Chautauqua County to engage with us and join us as we continue to create a vibrant region together.

Dr. Michael E. Hill is the outgoing president of Chautauqua Institution.