Iowa Wesleyan University (IWU), a private liberal arts college located in southeast Iowa, faces possible campus closure as a result of significant financial problems.
In 2015, the institution spent $3.32 million more than what it was given and lost $4.57 million in 2014 and $.45 million in 2013, according to university tax records obtained by Des Moines Register
University president Dr. Steven Titus wrote in a recent campus-wide announcement that IWU’s Board of Trustees is scheduled to meet on Nov. 15 to discuss the university’s future.
“At this moment, the university does not have the required financial underpinnings to bridge the gap between strong enrollment and new programming, and the money needed to keep the institution open,” Titus said.
Though the university has made strides in its enrollment and increased student retention since 2013, it “does not have a healthy endowment or extensive donor network,” Titus said in the announcement.
WSU is pursuing additional funding and partnerships, such as with the U.S. Department of Agriculture, regional businesses and community partners.
Titus said in the announcement that he and university administrators feel a “strong responsibility” and are committed to continuing the mission of IWU.