- Associated Press - Monday, January 27, 2020

PLAINFIELD, Vt. (AP) - A Vermont college launched a $4 million fundraising campaign in an effort to stabilize its finances.

Goddard College, in Plainfield, announced the Together for Goddard campaign is the largest fundraising effort in the school’s history, Vermont Public Radio reported last week.

The goal of the campaign is to build the school’s cash reserves, said Goddard College President Bernard Bull.

Bull took over shortly after the college was placed on probation by its regional creditor in September 2018 for finance and governance issues.

Bull said when he became president, the school had a deficit of over $1 million. The school is now operating from a balanced budget, he said, so the fundraising will not go toward paying off debts but to building cash reserves.

Bull said he aims to raise the funds by June 30 and to make considerable progress by the next accreditation visit from the New England Commission of Higher Education in April.

Three Vermont schools with struggling finances and declining enrollment closed last spring and held their final graduation ceremonies. Another, Marlboro College, announced in November that it would be closing and moving its academic programs to Emerson College in Boston.

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