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Already facing severe financial pressures, the King’s College was dealt another blow last week when the Middle States Commission on Higher Education withdrew its accreditation.

In an announcement posted to the MSCHE website, the accrediting body noted that the small, evangelical college in New York—which had previously been hit with a show cause order—does not meet the standards for accreditation. The college has “failed to demonstrate the capacity to make required improvements” and “failed to demonstrate that it can sustain itself in the short or long term,” the announcement said, adding that TKC “is in imminent danger of closing.”

The decision to withdraw accreditation is subject to appeal.

MSCHE’s action comes less than a week before the reconstituted Board of Trustees is scheduled to meet to decide whether to stay open or shut the college down. The King’s College has tried unsuccessfully to fundraise its way out of significant financial issues, though it did secure a $2 million loan earlier this year to meet its immediate needs. Now, with fundraising efforts ongoing, trustees for the embattled college are set to determine its future at a May 31 meeting.

The King’s College Board of Trustees issued this statement: “The Board of Trustees is surprised and disappointed by the commission’s hasty decision to take this action without due process, during a period where we are actively pursuing promising strategic alliances and fundraising opportunities to continue the mission of the college. The decision also comes despite the college’s regular communications with MSCHE and previous communications from MSCHE, both verbally and in writing, that the college would have an opportunity to appear before MSCHE in late June at a show cause hearing, in accordance with their established protocols. The Board of Trustees is investigating all possible responses to this adverse action. We want to reinforce that per MSCHE policy the college continues to remain accredited at this time. We will keep you updated as we receive more information.”