Frequently Asked Questions Regarding the Agreement in Principle

Frequently Asked Questions [DOWNLOAD]
November 2, 2007 Agreement in Principle between Antioch College Alumni Association and Antioch University Board of Trustees

The agreement is contained in two separate documents that can be found at antiochians.org:
• Agreements in Principle between the Alumni and the AUBoT
• AUBot Resolution 11.2.07:1

Q: Antioch College is saved, and that’s that. Right?

A: Far from it. Now the work begins to revitalize the College, and it will take the continued dedication and hard work of all who love Antioch. On November 2, the University Board of Trustees rescinded its suspension of Antioch College operations, which was scheduled to start in July 2008. The College will remain open contingent upon certain fiscal and academic conditions being maintained.

Q: The Agreement outlines the College’s future, right?

A: This is Antioch, where process is our passion. The Agreement outlines processes for deciding Antioch’s future – processes that now include the Alumni Association, a new College President and a new College Board of Trustees. It provides a framework for developing details and timetables for revitalization that are now being worked out.

Q: What will happen instead of the College being suspended?

A: The goal now is to rebuild a vibrant College that promotes academic excellence, with a tenured faculty. The Agreement in Principle states: “… continued operations of Antioch College will require the closing of some facilities, a reduction of faculty and staff, and the curtailment of some student services that are currently offered.”

The Declaration of Financial Exigency made by the Trustees remains in place.

Further, the College must obtain approval from the Ohio Board of Regents to resume offering credits and conferring degrees beyond December, 2008, the date it previously told the OBR it would suspend operations.

Q: Will the College accept new students?

A: Yes. Qualified transfer students may be accepted. Recruitment of first year students will resume when fiscally and academically feasible.

Q: What about faculty cuts?

A: These will depend upon the exact plan for limited operations in 2008-9, which is now being designed. The Alumni Association is on record as supporting a vibrant Antioch with a tenured faculty, and the Alumni Business Plan projected faculty numbers holding at a level that is expected to be reached next year after attrition and retirements.

Q: It’s clear the College facilities are in drastic need of repair and replacement. How will this be accomplished?

A: The University Chancellor has been directed to create a facilities team, including Alumni Board members. That team will evaluate facilities to determine how best to effect repairs while providing building and spaces for students, faculty and staff.

Q: What about governance?

A: The Antioch University Board of Trustees remains the sole legal, fiscal, and governing authority, and the College receives its accreditation through the University. However, a process is underway to create a new Governing Board for the University and a Board of Trustees for each campus, starting with Antioch College. The relationship between the Boards of Trustees and the Governing Board are yet to be defined.

In the meantime, the Agreement in Principle states, “ … an advisory body for Antioch College will be established to serve until a College Board of Trustees is constituted. Members of this advisory body will be appointed jointly by the President of the Alumni Association and the Chair of the University Board of Trustees.”

This advisory body will advise the Chancellor and the Office of the President. It will be an “integral part of the search committee and process in identifying a President of national stature for Antioch College.”

Q: What authority will the Alumni Board have in choosing members of the advisory body?

A: Since Reunion in June, a committee of the Alumni Board has been compiling profiles of prospective members of the advisory body and has been charged with vetting those names. The Alumni Association and the Board of Trustees will collaborate in the appointments.

Q: What is the timetable for carrying out the Interim Report of the AUBoT Governance Committee report?

A: The Board of Trustees has directed its Governance Committee to proceed swiftly to create a separate Board of Trustees for the College. That committee will meet next month with a goal of having a College Board close to being implemented or in place by July 1, 2008.

Q: Can the College still be closed?

A: Yes. AUBoT Resolution 11.2.07 directs the Chancellor “to develop, and if necessary implement, after consultation with the Executive Committee of the University Board of Trustees, a contingency plan for the suspension of operations at Antioch College.” A suspension could go into effect if “…the Fiscal Year 2008 or any future year contributions as set forth in the Agreement in Principle are not received as contemplated,” if continuation would threaten the University’s accreditation or cause the University to default on any obligation, if faculty and staff reductions cannot be sufficiently implemented, or if the Ohio Board of Regents does not extend beyond December 31, 2008 the College’s legal authority to grant credits and degrees.

Q: What happens to the College Revival Fund being administered by the Alumni Association?

A: The monies in the Fund will be transferred to Antioch University on an agreed-upon timetable, to be used exclusively to benefit Antioch College. A total of $6.6 million must be delivered to the University by December 15, 2007.

Donated funds will be directed to operations and capital expenditures.

It is the intent of the Alumni Association and the Board of Trustees that no Revival funds will be used to repay any financial obligations that may be owed by the College to the University until the College and University’s actual financial obligations to one another are independently verified.

Q: What happens to the fund raising efforts after December 15?

A: The Antioch College Alumni Association, with the full support of the Antioch University Board of Trustees, will raise funds under the supervision of the Antioch College Office of Institutional Advancement. These funds will be transferred in amounts and by dates specified in the Agreements in Principle.

Q: Can I be guaranteed that contributions I make will be used exclusively for the College?

A: Yes.

Antioch College to Remain Open!

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YELLOW SPRINGS, OH – The Antioch Board of Trustees – in historic collaboration with the Alumni Board – passed a resolution today to lift the suspension of operations of Antioch College scheduled for June 30, 2008. This decision which follows intensive discussions between Trustees and members of the Alumni Board, enables the College to continue offering academic credits and degrees to current students, subject to approval by accrediting bodies.

At the same time, the declaration of financial exigency will remain in effect given the serious financial challenges facing the College.

“The decision of the Trustees is only possible because of the substantial changes that have occurred since the June ’07 Trustees’ meeting”, said Board Chair Art Zucker.

“These new developments,” Zucker continued, “included recognition by the Alumni Board of the need for financial exigency declared by the Trustees in June ’07. Other developments included: the open and cooperative relationship that developed between the Trustees and the Alumni Board; the resurgence of Alumni support; and the alumni’s ability to raise more than $18 million in cash and pledges in just a few short months. The alumni’s success in fund-raising is a fantastic and unprecedented accomplishment – particularly because it includes a large number of first-time donors.”

Nancy Crow, president of the Alumni Association, called the fund-raising effort “a magnificent start. This effort to raise a significant amount of money will preserve the very special and unique aspect of Antioch College. We are overwhelmed with the outpouring of support from the Antioch College community, but we have much, much work ahead. With everyone working together, we will be successful.”

Continued operations of Antioch College will require the closing of some facilities, a reduction of faculty and staff, and the curtailment of some student services that are currently offered to give the College the necessary time to address the facilities and curriculum.

Furthermore, the Trustees action is dependent on the Alumni Board meeting these specific financial benchmarks:

Raising and transferring to the College the following:

10 days from the date of this agreement: at least $2 million
No later than December 15, 2007: at least $4.6 million
For a total of $6.6 million by December 15, 2007.

In addition and, with the support and full cooperation of the Antioch University Board of Trustees, to raise $12 million by May 31, 2008; $26 million by June 30, 2009; and, $19 million by June 30, 2010, for the support of Antioch College.

The Board of Trustees passed two additional resolutions: one, expressing overwhelming support of Toni Murdock in her leadership as Chancellor and two, appointing Andrzej Bloch, current COO and Chief Academic Officer, to the position of Interim President for Antioch College.

During the joint deliberations, the following agreements and understandings between Trustees and the Alumni Board were reached:

  • The College will remain a residential liberal arts college committed to the principles of academic freedom and tenure;The rationale for the declaration of financial exigency was sound;
  • There must be continued Alumni support—it is critical for the survival of Antioch College long term;
  • The College will continue, and it will be rooted in its historic core values and mission;
  • Accreditation is crucial to the future of the institution; nothing will be done to threaten Antioch University’s accreditation, or create an event of default in any existing bond, lease or other legal obligations of the University.
  • The financial model must be sustainable;
  • There must be a vibrant Antioch University, with fully explored opportunities for inter-campus collaboration and programs;
  • The state of financial exigency will remain in place.

Trustees and the Alumni Board agreed on a series of action steps to move forward collaboratively, including:

1) A commitment to further develop the plans for a separate Board of Trustees for the College, which was recommended by the Trustees’ Governance Committee and during the interim to put into place a College Advisory Body. Members of this advisory body will be appointed jointly by the President of the Alumni Association and the Chair of the University Board of Trustees.

2) The Alumni Board and the Antioch University Board of Trustees will continue to raise funds to meet the benchmarks, thus ensuring that the College can continue to remain open.

3) The Board of Trustees authorized the Chancellor, in consultation with the Office of the President and other appropriate stakeholders including the President of the College Alumni Board, to establish a team to design the planning process for ensuring Antioch College’s future as a distinguished institution of higher education rooted in the College’s historic educational mission and values.

4) The Trustees also authorized the Chancellor to initiate a building assessment study and recommend appropriate actions for building refurbishment– with the intent that said construction be “green,” environmentally friendly.

5) A long term effort will be developed to ensure academic excellence, the hallmark of the College.

Chairman Zucker noted that the newfound, unprecedented collaboration among members of Trustees and the Alumni Board is “essential to the future of Antioch. I am most pleased at the transparency and openness developed over the last few weeks and months.”

Following the June vote by Trustees to declare financial exigency, the Board worked with the Alumni Board to conduct a Town Hall meeting in Cincinnati so all interested Antiochians could voice their thoughts on the suspension of operation which laid the foundation for working together.

Early in October a few Trustees and members of the administration met with a subset of the Alumni Board to review progress on their business plan and share essential financial and academic benchmarks.

“An enormous amount of work remains to be done,” said Alumni Board President Crow, “but we are energized and ready to rise to this challenge. Our goal is nothing less than the regeneration of Antioch College as a leader and innovator in liberal arts education. Antioch’s unique blend of academic excellence, real-world experience, and shared governance will continue to produce engaged global citizens trained to lead in the 21st century, just as it has for the past 155 years.”

ANTIOCH COLLEGE’S SUSPENSION LIFTED

At 2 p.m. EST, the Antioch University Board of Trustees, in historic collaboration with the Alumni Board, agreed today to lift the suspension of operations a Antioch College originally slated for June 30, 2008. This decision, which follows intensive discussions between the University Board of Trustees and the Alumni Board, means that Antioch College will continue to offer academic credits and degrees to current students.

The Antioch College Community Meeting can be listened to here.

“An enormous amount of work remains to be done,” said Alumni Board President Nancy Crow ’70, “but we are energized and ready to rise to this challenge. Our goal is nothing less than the regeneration of Antioch College as a leader and innovator in liberal arts education. Antioch’s unique blend of academic excellence, real-world experience, and shared governance will continue to produce engaged global citizens trained to lead in the 21st century, just as it has for the past 155 years.”

More information will be posted as we have it available.