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Wheeling Plans to Be Self-Sustaining in 5 Years

March 3, 2020
 
 

Plans call for Wheeling University to be self-sustaining in five years after it received millions of dollars more from the local Roman Catholic diocese that owns its campus.

The Diocese of Wheeling-Charleston will provide $2.5 million in gifts next year, $1 million the following year and $500,000 annually for three more years, WTOV reported. They money is on top of $2 million provided in August 2019 and a 2017 leaseback deal in which the diocese paid off the university’s bond debt -- about $32 million -- in exchange for taking control of its campus and then leasing the campus back to the university.

Wheeling University was called Wheeling Jesuit University before a financial crisis forced it to make deep cuts and it ended its Jesuit affiliation last year.

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