According to nj.com, “Standing before her campus last week, Marcheta Evans knew what she was about to do was incredibly risky. But, she did it anyway.
The Bloomfield College President faced a town hall meeting of students and faculty and let the school’s secrets out. The 153-year-old private college is in serious financial trouble, she told the crowd. It does not have enough money to start the 2022-2023 school year unless a donor or another college steps in to save it.
The college’s finances are private, but publicly-available federal tax returns show Bloomfield has been teetering on the brink of financial disaster for years. With enrollment falling over the last decade, the school has been spending more than it has been taking in.
“You try to do it in the background and keep it quiet,” said Evans, 62. “But … we’re fighting for this institution — and we’re doing it publicly.”
Campus officials are banking that Bloomfield’s unique feature — as New Jersey’s only four-year private college that serves predominantly Black and Hispanic students — will help save it. They are betting another college or network of schools, either in New Jersey or elsewhere, and private philanthropic groups with similar missions will invest in keeping the school alive.”