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IW secures funding, will continue into spring semester

Iowa Wesleyan University’s doors will remain open into the spring semester and will actively recruit for the 2019-2020 academic year, university officials announced Thursday.

The board of trustees met behind closed doors Thursday, Nov. 15, to discuss the future of the university as it faces significant financial difficulties. Last week, the university announced it would need $2.1 million to continue operations for the spring semester and $4.6 to continue through December 2019.

During the week between trustee meetings, the university received several gifts. Longtime professor Dolores Poulter Wilson pledged $500,000 to the university. The Mt. Pleasant Area Chamber Alliance announced a $120,000 gift this week, as the university has a reported $55 million impact on the southeast Iowa region, and University President Steve Titus stated he had received a verbal commitment from a donor for another $350,000 to $400,000.

“We are very happy to continue the mission of Iowa Wesleyan, which is to educate the next generation of leaders and be an economic engine for Southeast Iowa,” said Annette Scieszinski, chair of the board of trustees, in a statement.

Scieszinski stated the Board will be “actively pursuing new partnerships to create a more sustainable future for the university, community and region.”

A New Directions Team has been established to lead this effort.

“Given the current dynamics, the Board recognizes Iowa Wesleyan must evolve and innovate to broaden our reach, she said in the statement. “We are confident about the future, and will remain vigilant in our efforts to engage a new partner, strengthen the university and fortify our future.”

This is a developing story and will be updated.