Bacone College is closing its door

Another small liberal arts college is not surviving due to financial issues. Classes will be taught by:

• Mid-America Christian University
• Ottawa University
• Southern Nazarene University

https://www.insidehighered.com/news/business/financial-health/2023/12/08/struggling-bacone-college-could-lose-its-campus

 

I'm shaking my head here. Hate to see any minority college - Native, HBCU or other - in this position. If they want to get designated as a Tribal College, and they do, they have a lot of financial cleanup to do. It's all too often that these schools hire administrative people who just do not have sufficient training and experience in financial matters.

I'm no great shakes myself -- but I can see in two seconds that they were railroaded by bafflegab into their million dollar debt for a heating system. Even if it worked 100% to spec., which it apparently didn't, - the projected savings would have an eighteen-year payback. And I have no doubt the "projected" savings were an over-optimistic sales tool, rather than fully reality-based. The school did not HAVE 18 years. Find a cheaper - MUCH cheaper solution.

It seems the admin people kept buying things. Things they should have known the college couldn't afford. The result - lawsuits, liens etc. is hardly a surprise to me. Why is it, to them? My take: lack of business training and knowledge. Get trained people with a track record.

If it hasn't done so already, the college will doubtless lose its accreditation for financial reasons. The slide started years ago. In 2018, the enrolment was decimated - literally. It was 900 when the college closed, due to its financial problems - and only 100 students were enrolled when it reopened. I think there's a potential path to eventual re-accreditation. More later.

They need:

(a) An inspired leader. One such saved Morris Brown College. After failed attempts by others.
(b) An insolvency lawyer who can get them debt relief and enable them to operate during insolvency.
(c) To look into that property sale again. There's more than one way to sell a piece of land.
(d) To start the online programs they've only talked about - for years.
(e) Trained people on the purse-strings and effective oversight
(f) TRACS has helped re-establish accreditation for seven beleaguered HBCU's so far. No reason I can see, for them not to help a different minority school. Bacone Top Brass - when it's time, consider calling TRACS.
(g) When things are on the mend - talk to the Tribal College people about re-applying. And good luck. I'd like to see a win, here.

 

Another bit that got to me. The college had hoped to revive their Native Arts and Culture programs. But it didn't happen. I'm a big fan of Native Arts and Culture. Hey, I even paint and do beadwork! My question - why were these programs allowed to languish and get mothballed in the first place? Bring 'em back! Done right, there's a LOT of money to be made. And not all of it from students or alumni.
The "General Pop." - i.e. non-Native people - LOVE that! There's a market!! Alert the local craftspeople - extension classes. They can give lessons...