Financial Challenges and Opportunities Facing Higher Education Amid COVID-19
The COVID-19 pandemic has led to financial uncertainty for a growing number of colleges and universities. Higher education institutions are grappling with unexpected campus shutdowns, tuition refund requests, and significant infrastructure costs necessary to build a remote learning and working environment.
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Solving these financial challenges may require increased interaction with the Non-Profit Organizations/Public Charities Divisions of state Attorneys General and with state Departments of Education, whether to help establish a sounder financial footing, to explore alternatives to prevent sudden closure, or to comply with legal reporting requirements and regulations.
In this webinar, we discuss what happens when the numbers no longer work—including the process for accessing restricted endowments and meeting legal requirements when closure or merger seems imminent—as well as the opportunities and challenges that exist for colleges and universities considering the monetization (or acquisition) of institutional assets.
- Tad Heuer, Partner, Foley Hoag LLP
- Douglas McGarrah, Partner, Foley Hoag LLP
- Madeleine Rodriguez, Associate, Foley Hoag LLP