Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Education
Covid Closing Down Colleges: How The Covid-19 Pandemic Accelerated Nonprofit College Closings, Patrick Baker, Paula Hearn Moore, Kaleb Byars, Christie Aden
Covid Closing Down Colleges: How The Covid-19 Pandemic Accelerated Nonprofit College Closings, Patrick Baker, Paula Hearn Moore, Kaleb Byars, Christie Aden
BYU Education & Law Journal
Private nonprofit colleges have experienced an increasing amount of financial pressure over time, making it arduous to survive. Internal and external factors such as geographical challenges, lack of economies of scale, and unchecked board mismanagement have historically led to the closures. COVID-19 is accelerating the rate of these college closures. Diminishing enrollment, volatile endowments, and inoperable revenue programs are some of the reverberations the virus has caused.
Preventative measures need to exist to alleviate the risks of unforeseen crises in the future. Harsher penalties, increased scrutiny of automatic extensions, and more accurate and complete Form 990 disclosures will protect stakeholders …