RELEASE FOR IMMEDIATE ANNOUNCEMENT

FROM: DR BRUCE MOYER, PRESIDENT, VENNARD COLLEGE
UNIVERSITY PARK, IOWA
DATE: WEDNESDAY, NOV. 12

On Tuesday evening, November 11th, the Board of Trustees of Vennard College, in joint session with the Alumni Association Board, voted to cease all academic operations of the college at the end of the current semester. Final dissolution of the corporation will come at a future date to be determined by the executive committee of the Trustees.

This is a very sad day for a college with a long and credible history. Originally known as Chicago Evangelistic Institute, founded in 1910, the college moved to the Iowa campus in 1951 and later changed the name to honor its founder, Dr. Iva Durham Vennard. Throughout its history, the non-denominational college has specialized in preparing young people for vocations in Christian ministry. Many of its graduates serve as pastors and missionaries around the world.

While general contributions have been up approximately 50% over a year ago, the challenge of growing enrollment beyond 70-100 students has not been realized in a number of years. The strain of small enrollment with increasing costs led to a projected deficit of $300,000 for the fall 2008 semester. Realizing that the deficit would only be compounded in the spring of 2009, the governing body was faced with making the only choice it could.

Plans have been made to end the semester a week early, allowing students to leave campus for Thanksgiving break and not return. A special final commencement service is scheduled for Saturday afternoon, Nov. 22nd.

A special “college fair” is being held on Nov. 21-22 for other Christian colleges to recruit students and staff for their institutions.

Inquiries about the sale of the campus, the library, and other college equipment may be directed to offices@vennard.edu.