New offer by alumni to keep Antioch College open rejected
YELLOW SPRINGS, Ohio—A new offer from an alumni group trying to keep Antioch College from temporarily closing has been rejected, officials said Friday.
Antioch University spokeswoman Lynda Sirk said the college in this southwest Ohio village will close June 30 and reopen when it is financially and academically feasible.
University trustees announced last June that they planned to close the college temporarily, citing declining enrollment, heavy dependence on tuition and a small endowment.
Located about 15 miles east of Dayton, Antioch College is known for its pioneering academic programs that produce students with a passion for free thinking and social activism. Famous alumni included "Twilight Zone" creator Rod Serling, Coretta Scott King and evolutionary scientist Stephen Jay Gould.
The college is the flagship of Antioch University, which also has campuses in Seattle, Los Angeles, Santa Barbara, Calif., and Keene, N.H.
The alumni group, called the Antioch College Continuation Corp., said it offered an immediate $9.5 million donation and an additional $6 million the university could use for its other campuses -- all in exchange for 10 seats on the 19-seat Antioch University board of trustees.
"It almost defies logic that the trustees could reject this extraordinarily generous offer by a group of major donors," said Eric Bates, co-chair of the corporation.
Antioch said the proposal would have resulted in the forced resignation of trustees and created an unworkable leadership structure for the university. And it said the proposal did not provide enough detail on how the college could remain open beyond the first year.
The trustees rejected a previous offer from the group earlier this year. However, board chair Art Zucker said Friday the board recognizes that the college will be required to be separated from the university to achieve long-term financial and academic sustainability.
No new talks between the two sides are scheduled.
Antioch College, founded in 1852, doesn't grade classes, encourages students to develop their own study plans and combines academic learning with experience through a co-op program in which students leave campus to work in various fields.
About 200 students were enrolled at Antioch this academic year. A commencement ceremony was held April 26.
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