YELLOW SPRINGS, Ohio -- Flush with an initial outburst of emergency fundraising, Antioch College's Board of Trustees has voted not to close next spring after all.
The small Ohio liberal arts school, which was founded in 1852 and has graduated such luminaries as Coretta Scott King and Rod Serling, had been scheduled to close its Yellow Springs campus next spring with hopes of reopening in 2012.
But after receiving pledges and cash totaling more than $18 million, the trustees voted last weekend to keep the school afloat as long as ongoing goals are met and accrediting bodies approve, the trustees said in a news release.
Board Chairman Art Zuck said the turnaround "is only possible because of the substantial changes that have occurred since the June ’07 trustees’ meeting." Alumni Association President Nancy Crow called the amount raised so far "a magnificent start," adding "we have much, much work ahead."
Antioch College will close some facilities, reduce faculty and staff, and cut some student services. It also said $6.6 million must be received by Dec. 15, with $12 million more by May 31, 2008, $26 million by June 30, 2009 and $19 million by June 30, 2010.
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