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The Cornish College of the Arts Board of Trustees approved a resolution to declare a financial emergency and financial exigency following a dramatic drop in enrollment this fall.
“While this is a sobering moment in the life of the college, we are not about to shut our doors and go home,” Raymond Tymas-Jones, the college's president, said in a press release. “The Declaration of Emergency and Exigency is a necessary next step toward our economic recovery and our transition to a new, more sustainable, business model. At over 100 years strong, Cornish has persevered through tough times before and I am confident we will do so again.”
The pandemic caused a significant enrollment decline for the college, which is located in Seattle. That, in addition to years of deficit spending, left the college unable to weather the pandemic's budget effects without intervention, according to the press release.
Cornish enrolled about 600 students last fall.
