Mid-Continent University (Mayfield, Kentucky) to close

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Jim's picture

Trustees terminated nearly all faculty and staff, but some continued to work on a volunteer basis to help current seniors graduate. Classes with at least one senior were scheduled to continue until graduation. Other classes were handled on a case by case basis.

Area Baptist associations are donating food for student meals and sponsoring the graduation ceremony.

Commending the faculty and staff for working as volunteers!

mmartin's picture

When I read the article it sounded to me that this was an organization that didn't have the leadership necessary to make the tough financial decisions necessary to maintain financial viability as well as preserve its financial reserve.  This includes the questions about the president and his family drawing salaries of over $1M annually.

Think about it!  MILLIONS of dollars - poof!  Gone!  Buh-bye!  Why?  Because leadership would not make the right and tough decisions.

Some people would say it was important to use the reserve now in order to invest in the future in hopes the future will pay off so to speak.  Perhaps so.

But what would you rather have a closed school and NO reserve funds that could be used for other ministry purposes or a closed school and the reserve maintained.

When people donate to an organization they are donating because of both the current need as well as their belief in the leadership and where the organization is heading.  When that organization mismanages itself to the point where it either closes or brings that question into the conversation then I believe that leadership and organization has violated the trust of the donors & constituency.

I believe this to be a serious matter.  For those of us that work in leadership positions in non-profit organizations it is important for us to always keep in mind that we are not only maintaining the resources given to us in large part by the faith and generosity outside sources (people, donors, constituents), but we are also maintaining that sense of trust.

When I read this story it occurred to me it was similar in many ways to another organization we know of in NE Wisconsin.