BRISTOL, Va. —
Virginia Intermont College expects to meet a donor’s fundraising challenge.
The college has received $1.5 million in cash and expects to receive another $1.5 million from a funding entity, President E. Clorisa Phillips said in a video released Friday.
The unnamed local donor offered $500,000 if the private, liberal arts college in Bristol raised another $1 million and obtained a $1.5 million from a funding entity or foundation.
The Bristol Herald Courier reported that the donors and the funding entity aren’t being identified.
Since June 20, the college has raised $500,000 through donations from alumni, staff and friends. A $500,000 match was secured Thursday from another local citizen, Phillips said.
Virginia Intermont is preparing to appeal the Southern Association of Colleges and Schools Commission on Colleges’ decision to drop the college from its membership. The accrediting agency attributed its June decision to the college’s financial problems.
“Regardless of how that appeal turns out, this gift helps shore up our position for the future steps of VI. Whether remaining accredited by SACS solely by ourselves or merging or partnering with another institution that is accredited by SACS,” Phillips said in the video.
Information from: Bristol Herald Courier.