Higher Education | Historic Christian colleges like Nyack College are facing financial crises that are forcing big changes. Some haven’t survived
by Emily Belz
Posted 8/15/19, 04:46 pm
Nyack College, a Christian and Missionary Alliance (CMA) school in the New York City area, received an independent audit in 2017 with an opinion any institution dreads: “substantial doubt about its ability to continue as a going concern.”
The evangelical school with a 120-year history in New York was looking at looming insolvency, according to the audit, because of its tens of millions in debt and falling revenues.