The catch is that the current board members must step down. The college in question is LeMoyne-Owen College in Memphis, TN. Like many HBCU’s, the college has been in financial difficulty for some time. Recently, though an anonymous donor pledged $2.5 million dollars to help cover June expenses with the caveat that they will only deliver the second half of their pledge only after all board members and the chairmen all step down.
Is this a viable tactic to help save The State Of . . . many of our HBCU’s? Could this have saved Morris Brown or kept Clark from canceling some of their degrees? Yes! Yes! Yes!
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