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MacMurray College in Illinois Closing at the End of May

Added 03-28-20 09:38:02am EST - “"no viable financial path forward amid declining enrollments"” - Legalinsurrection.com

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Posted By TheNewsCommenter: From Legalinsurrection.com: “MacMurray College in Illinois Closing at the End of May”. Below is an excerpt from the article.

This closure was not prompted by the Coronavirus crisis. The school has apparently been struggling for a few years.

I write today to share very sad news: The Board of Trustees of MacMurray College has voted unanimously to close the college at the end of the semester in May.

Although your recent gifts helped significantly with cash flow, the Board ultimately determined that your alma mater had no viable financial path forward amid declining enrollments, rising competitive costs, and an insufficient endowment.

The Board spent more than a year exploring financial scenarios and potential new sources for capital. A new strategic plan was developed to broaden MacMurray’s professional degree programs and reach more non-traditional students, but the significant amount of capital required to fund it could not be secured.

Although the current pandemic and the resulting economic disruption further complicated MacMurray’s financial condition, they were not the principal reasons for the Board’s decision to close.

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