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The Board of Trustees at Northland College has delayed making a decision on whether to close due to financial issues, citing “several transformative donor gifts” received this week.

“While Northland is still short of its total funding needs, these gifts considerably impact what is possible. In light of this, the Board of Trustees believes the right thing to do is to reconvene with the Faculty Ad Hoc Exigency and Operations and Budget Committees to continue the work of bringing together proposed adjustments and the new budget realities,” Northland College officials said in a statement Tuesday. “This will continue to require a strategic academic re-prioritization and the need for serious decisions, but we are hopeful about the future.”

The university had initially set a goal of $12 million in donations. Officials did not specify the amount of the donations that just came in, or a timeline for making a decision on closure. The gifts arrived the same week that the board intended to provide an update on the college’s future.

The small college in Wisconsin has struggled with enrollment and finances in recent years.

Northland enrolled 518 students in fall 2022, according to the Department of Education’s Integrated Postsecondary Education Data System, and has operated at a loss for much of the last decade, according to the publicly available financial documents for the college. Officials declared financial exigency earlier this month.