Plans call for Wheeling University to be self-sustaining in five years after it received millions of dollars more from the local Roman Catholic diocese that owns its campus.
The Diocese of Wheeling-Charleston will provide $2.5 million in gifts next year, $1 million the following year and $500,000 annually for three more years, WTOV reported. They money is on top of $2 million provided in August 2019 and a 2017 leaseback deal in which the diocese paid off the university’s bond debt — about $32 million — in exchange for taking control of its campus and then leasing the campus back to the university.
Wheeling University was called Wheeling Jesuit University before a financial crisis forced it to make deep cuts and it ended its Jesuit affiliation last year.
Read more: insidehighered.com