Officials are wiping sweat from their brows and singing the praises of supporters who helped the school meet a crucial financial deadline.

By Annette Bender

MADISONVILLE, Tenn. –The goal was to raise $423,000 by June 30, balancing the budget for the 2002 fiscal year and retaining the college's accreditation.

Earlier this month Hiwassee officials announced that the goal had not only been met but exceeded. As of July 10, the school had raised $510,901 to balance its $5.01 million budget, according to Vice President for Advancement Randy Nelson.

"People really came through for us," he said. "It's been unbelievable."

Officials will not know if a sanction by the Southern Association of Colleges and Schools will be lifted until the group meets in December. However, a financial audit will be completed in August, Nelson said, "and when they see that we're operating in the black, most likely the warning will be lifted. I do not feel we're in jeopardy of losing accreditation."

Officials express appreciation to supporters who responded to the college's financial emergency. Following the announcement of an unrealized multimillion dollar gift and the resignation of President Chuck Philip, Hiwassee officials sent out 12,000 letters in April, pleading for funds.

"After what we've been through, it's going to be good to have something that's successful," said Interim President James Murrell. "I had faith that we would be successful, but this goes beyond that."

The $500,000-plus fund-raising effort far exceeds Hiwassee's usual $250,000 to $300,000 in unrestricted gifts received each year, officials said. Donations came in all sizes and were often accompanied with notes and letters about how Hiwassee had changed former students' lives.

Two weeks before the June 30 deadline, donations from the George R. Johnson Charitable Trust and the William B. Stokely Jr. Foundation "put Hiwassee over the top of its goal," according to a Hiwassee press release.

The late Johnson's surviving relatives own Hardee's franchises in Cleveland, Tenn. Stokely is a Knoxville-based Hiwassee alumni. Nelson declined to disclose gift amounts.

"It is exciting to know that so many people have affirmed through their investments that there is an important place for a college that specializes in the two most important years of college, those beginning years," Hiwassee Board Chair Al Bowles said in a prepared statement. "This is a tremendous victory and propels us into the next academic year with hope and promise."

Hiwassee is a private, two-year liberal arts college related to the Holston Conference. Students return to campus on Aug. 21 for fall registration. Despite publicity over Hiwassee's financial trials, officials project a 10 percent increase over the 2001 enrollment of 429. Nelson credited the projected increase to aggressive recruiting efforts.

The 2003 fiscal year began July 1 with a budget of $5.22 million. Nelson said the budget reflects "realistic increases in revenue and student enrollment" as well as "across-the-board cuts in expenditures."

Roller Coaster Year

• Jan. 17: Hiwassee is sanctioned by Southern Association of Colleges and Schools.
  
  
• Jan. 29: College officials announce $20 million gift from anonymous donor.
  
  
• March 28: Officials say gift will not be realized. President Philip resigns.
  
  
• April 28: Letters appealing for funds are mailed to 12,000 supporters.
  
  
• June 30: Hiwassee exceeds $423,000 goal and meets deadline.
  
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