Episode Details

St. Michael’s College is in a desperate race against time as accreditors issue a stark warning: its future hangs in the balance. Enrollment has plummeted 37% since 2018, and looming losses of nearly $10 million threaten its survival. Though the school has some reserves, long-term sustainability is shaky — and it’s one of just four institutions facing this crisis. President Richard Plumb remains optimistic, citing record fundraising, rising student deposits, and new academic programs designed to meet market demands. Yet, the college’s troubles run deep: sold-off property, staff cuts, dorm rentals, and $58 million in debt — plus a junk bond rating. With a grim national trend showing a quarter of private nonprofits at risk of closure or merger within a decade, Plumb estimates St. Mike’s has just five years to turn things around — or face the axe.

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