Iowa Wesleyan College college students stroll to the scholar union for lunch Nov. 5 on the campus in Mount Nice. Amid dire monetary circumstances, Iowa Wesleyan in November introduced a plan to safe partnerships geared toward sustaining the college. A ‘new instructions workforce’ at Iowa Wesleyan now could be reviewing the partnership proposals and is on observe to announce finalists by Feb. 7. (Grace King/Mt. Nice Information)

One of many oldest universities west of the Mississippi — Iowa Wesleyan College — is closing its doorways 181 years after its founding in 1842.

The establishment’s trustees voted unanimously Tuesday to shut on the finish of this educational yr in Could as a consequence of “a mix of economic challenges,” in response to a information launch.

These challenges embrace elevated working prices “as a consequence of inflationary pressures”; enrollment tendencies; a “important drop” in philanthropic giving; and Gov. Kim Reynolds denial “of a proposal for federal COVID funding.“

Iowa Wesleyan has been struggling to outlive for years — alongside lots of the area’s smaller personal four-year establishments competing for a shifting demographic of scholars going through a modified and altering increased schooling panorama post-pandemic.

The campus in fall 2018 introduced dire monetary circumstances and potential closure — however discovered a path ahead after in search of companions and authorities funding, together with by a mortgage from the U.S. Division of Agriculture’s Rural Growth.

In 2020, Iowa Wesleyan got here near partnering with a Catholic college in Florida however deserted that prospect following due diligence on either side.

Then in January 2021, Iowa Wesleyan and Southeastern Group School introduced a novel collaboration permitting each to proceed working individually whereas additionally providing “clean, inexpensive educational pathways” between the faculties.

Tuesday’s announcement that Wesleyan will shut adopted an “intensive evaluation of Iowa Wesleyan’s monetary operations and appreciable exploration of all possible strategic options.”

It comes regardless of enrollment development, improved scholar retention, and success in efforts to deal with financial and workforce challenges in Southeast Iowa. These features — together with a slight uptick in scholar numbers — haven’t been sufficient post-COVID to make sure monetary stability.

“It’s with deep disappointment that we announce the board of trustees has made the heartbreaking resolution to shut our beloved Iowa Wesleyan after 181 years as an academic pillar on this group,” Iowa Wesleyan President Christine Plunkett stated in a press release. “Our focus is now on assuring our over 850 college students have a clean transition to a different instructional alternative.”

Iowa Wesleyan has established 4 “teach-out agreements” to verify any and all college students who need can full their program on time and for a comparable price.

These agreements are with William Penn College; Higher Iowa College; College of Dubuque; and Culver-Stockton School, with others doable.

“We all know our motion shall be felt deeply by all Iowa Wesleyan College college, workers, college students, households, alumni, donors, Mount Nice, and all the area of Southeast Iowa,” board Chair Robert Miller stated in a press release. “Like many faculties and universities nationally which have not too long ago introduced cloture, IW has been confronted with many headwinds together with growing working prices, declining numbers of highschool graduates nationally, and insurmountable inflationary pressures. We have now labored tirelessly to search out options in any respect ranges however to no avail.”

Iowa Wesleyan requested funding from federal American Rescue Plan Act (ARPA) {dollars} allotted to Iowa — focusing in its utility on its contributions as a “main employer in Southeast Iowa that supplied a variety of instructional, financial, workforce, social, and cultural alternatives.”

Particularly, Iowa Wesleyan sought $12 million, however was denied.

“As the next schooling establishment that serves rural Iowa, we’re dissatisfied within the lack of state assist for this effort. All our indicators have been trending in a optimistic route, however we wanted funding to purchase some extra time,” Miller stated.

“We’re simply heartbroken.”

When the college closes Could 31, the U.S. Division of Agriculture will take possession of the bodily campus.

Vanessa Miller covers increased schooling for The Gazette.

Feedback: (319) 339-3158; vanessa.miller@thegazette.com