Facing a possible closure due to financial struggles, the King’s College in New York announced Wednesday that it is exploring a partnership with another Christian university that will allow it to remain open.
The announcement, which did not name the potential partner, came on the deadline for TKC’s Board of Trustees to make a decision about the future of the college, which announced in January that it needed $2.6 million to meet its “immediate needs.” A fundraiser seeking those funds fell short, bringing in less than $200,000.
The fate of the small, private, evangelical college has been in question ever since. Adding to its woes, the college had its accreditation withdrawn by the Middle States Commission on Higher Education for failing to meet its standards. MSCHE said TKC “is in imminent danger of closing.”
Trustees noted in the announcement that they have been seeking “a strategic alliance with a number of educational institutions and cultivating effective fundraising opportunities with new and old donors.” Now a deal appears to be close; TKC trustees noted they “are currently in advanced discussions with another Christian university regarding an educational and operational partnership in order to remain open in New York City for the 2023-2024 academic year and beyond.” The board also promised to “provide a further update by June 16, 2023.”
The board announcement did not indicate whether the partnership would constitute a merger or an acquisition by another institution. A partnership could spare TKC from succumbing to closure driven by financial pressures, as other religious colleges have done this year, including Cardinal Stritch University, Presentation College, Holy Names University, Iowa Wesleyan University and Finlandia University.