A 2nd Chance for Antioch?

August 27, 2007

An active group of Antioch College alumni wants to prevent their alma mater’s demise. Now they have a deadline.

The Antioch University Board of Trustees, which oversees Antioch College and the five other campuses that make up the university, met last weekend with representatives of the college alumni group to discuss the feasibility of keeping open the money-losing college, which faces a planned 2008 closure. Trustees agreed to give alumni until the board’s October meeting to devise a “realistic business plan with required benchmarks as established by the trustees.”

The business plan will need to deal with the college’s annual $5-million budget hole. But the alumni of the small liberal-arts college, which is located in Yellow Springs, Ohio, may have found the best answer to the problem in their own wallets. In three months alumni have raised $8-million in cash and pledges for the college-revival fund, which is now one-quarter the size of the university system’s endowment. —Paul Fain