After warning in March of potential closure, Northland College will stay open for now but declared financial exigency, the board of trustees announced Thursday evening. The board said it would make “a final decision” about the college’s future in two weeks. In declaring exigency, Wisconsin-based Northland is formally recognizing a “serious financial crisis,” the board said. The process will focus on a new structure for the college, engagement with donors and the institution’s budget options, which would likely include cuts to staff and programs. Northland had set a $12 million fundraising goal with an April 3 deadline. Northland fell well short of the target but managed to raise $1.5 million, a record for the college, from 900-plus donations in less than a month.
