Save Antioch College - The Portal

By Mark Reynolds ‘80

Lee Morgan ’66, chair of the Antioch College Continuation Corporation Board Pro Tem, and Risa Grimes, executive director of the College Revival Fund, provided an update on the state of the College at the Chicago Chapter’s meeting February 15 at the Oak Park Public Library.

Morgan began the presentation with an overview of the events and negotiations that led to the signing of the Letter of Intent (LOI) in January. He went on to discuss the Board Pro Tem’s proposal for a 40-month academic program that would include six trimesters of study and three trimesters of co-op and allow students to graduate while paying only three years’ tuition. Morgan also explained the Board’s innovative financial strategy for a

Credit holder program at Pacific Continental Bank, where alumni and other supporters can open interest-bearing accounts that Antioch College can borrow against to cover operational expenses and student financial aid.  He said the Board is aiming for an entering class of 200 students in 2010 or 2011, and to continue entering classes of 200 students thereafter.

Grimes reported that $7.8 million had been raised to date, and praised her team’s dedication and commitment to raising the $10 million needed by late April under the terms of the LOI. She expressed her confidence that the goal can be met, even during the ongoing economic recession.

Chapter members, Morgan and Grimes took up a spirited q-and-a discussion. Topics covered included short- and long-term fundraising tactics (from individual investments to increased emphasis on planned giving), the direction and structure of academics once the College is reopened, and the state of the physical campus (water damage had been discovered in Main Building the weekend before the Chicago meeting). Morgan did not offer specifics about Antioch’s future educational offerings, preferring to leave those decisions to College administrators and faculty once those persons are in place. He also shared his concern about the condition of the physical campus, noting that it presently costs about $800,000 a year to maintain the buildings.

Alumni representing class years from the ‘50s to the ‘00s attended the meeting. They were joined by current Nonstop student Katie Connelly, who talked about her experiences there.