The Philadelphia Inquirer reported late last week that the University of Arts in Philadelphia will be closing for good on Friday, June 7.
The nearly 150-year-old school said the closure is due to an “urgent” financial crisis fueled by a steep decline in enrollment. Kerry Walk, the university’s president, said the institution would have needed roughly $40 million to keep it running.
According to the Inquirer’s coverage, the Middle States Commission on Higher Education announced it would withdraw accreditation from the university due to non-compliance with certain standards.
Current students have to deal with a week’s notice. As of early Friday evening, staff and students hadn’t been notified, the Inquirer said. Roughly 700 faculty and staff will be dismissed.
From a June 2 statement from the Board of Trustees:
To our University of the Arts students and families, alumni, faculty, staff, supporters, friends, and Philadelphia community:
With deepest sadness, we must confirm that University of the Arts will close on June 7, 2024. The Board of Trustees formally voted on June 1 to approve the closure. Under extraordinary circumstances, we diligently assessed the urgent crisis presented and pathways to keep the institution open. Despite our best efforts, we could not ultimately identify a viable path for the institution to remain open and in the service of its mission. With the priority of addressing the impact that our decision will have on the UArts community, as well as our home in the City of Philadelphia, we are committed to supporting our students, faculty, and staff through this heartbreaking transition.
From the president’s May 31 statement:
Dear Members of the UArts Community:
Today is a heartbreaking day.
University of the Arts will close as of Friday June 7, 2024.
The closure means that we will be canceling our summer courses, we will not enroll a new class in the fall, and we will support our continuing students in their progress to degree by developing seamless transfer pathways to our partners: Temple University, Drexel University, and Moore College of Art and Design, among others.
We know that the news of UArts’ closure comes as a shock. Like you, we are struggling to make sense of the present moment. But like many institutions of higher learning, UArts has been in a fragile financial state, with many years of declining enrollments, declining revenues, and increasing expenses. We have worked hard this year alongside many of you to take steps that would secure the University’s sustainability. The progress we made together has been impressive.
Unfortunately, however, we could not overcome the ultimate challenge we faced: with a cash position that has steadily weakened, we could not cover significant, unanticipated expenses. The situation came to light very suddenly. Despite swift action, we were unable to bridge the necessary gaps.
On Monday, June 3, 2024, we will host separate town hall meetings for students, faculty, and staff; we will send times and details for those town halls over the coming weekend. We are committed to providing a space for your questions and concerns.
We have done everything in our power to address this crisis and avoid the worst possible outcome: an abrupt closure. Yet we have reached this deeply painful outcome, which we know affects our entire community. We are grateful for all you’re doing to support one another during this most difficult time.
Sincerely,
Judson Aaron, Chair of the Board of Trustees
Kerry Walk, President
From the Inquirer’s article:
The commission noted in its documents that the university failed to inform the commission of the closure in a timely manner or plan for proper closure, including a teach-out plan to make sure students’ education can continue.
The university, the commission said, must immediately notify its community of the impending closure.
Walk, who became president less than a year ago, said early Friday evening that the university was in the process of communicating with its students, faculty, and staff about its plans. An email to them went out from Walk and the head of the board of trustees shortly before 8 p.m., saying they had taken steps to try to avoid such an abrupt closure but were unsuccessful.
“Unfortunately, however, we could not overcome the ultimate challenge we faced: with a cash position that has steadily weakened, we could not cover significant, unanticipated expenses,” they wrote, noting that town hall meetings would be held Monday for students, faculty, and staff. “The situation came to light very suddenly. Despite swift action, we were unable to bridge the necessary gaps.”
Walk did not specify what those unanticipated expenses were or say in dollars how big the cash flow problem is.
The full story can be found here.
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Photo: University of the Arts