Alumni seek $20 million by April 1 to keep St. Joseph's College open

The Alumni Association Board of Directors is hoping to raise $20 million by April 1, about a month before the private college is set to suspend  for at least one year due to its poor financial standing.

But the major donation comes with a stipulation — the money won't be given to the institution until members of the Board of Trustees and the administration are replaced.

"There are definitely changes that need to be made in the leadership of Saint Joseph’s College," said Jackie Bradway, a member of the alumni association who is working on the campaign.

The $20 million figure represents the amount school officials have said would be needed to continue operating for the next several years. About a week before the trustees voted on Feb. 3 to suspend operations, St. Joseph's President Robert Pastoor told the campus community that the school required a cash influx of $100 million, with $20 million in commitments by June, to continue to effectively serve students.

In a Q&A session with school leaders after the suspension was announced, a student asked Board of Trustees Chairman Benedict Sponseller, "If you were offered $20 million today, would you resign and ask the administration to do the same?"

"In a heartbeat," Sponseller replied, according to a transcript of the meeting.

That was after another student asked if any board members would resign "because of their financial negligence." Sponseller said he wouldn't and hoped others wouldn't, either.

Pastoor told the Journal & Courier last week that he doesn't intend to continue as president after May. A frequently-asked-questions published by the college a couple of days later, however, said he hasn't resigned and Sponseller "continues to see Pastoor in this position."

The student government also last week issued a vote of no confidence in Sponseller and Pastoor, as well as Board of Trustees Vice Chairman Stephen Ruff, Vice President for Institutional Advancement Greg Roberts, and Vice President of Business Affairs Spencer Conroy. The students requested that the five men be removed from their positions.

Neither Sponseller, nor a spokesperson from the college, responded to email requests for an interview on Tuesday.

Bradway said she didn't want to name the specific individuals who the association wants to replace, but said their positions would need to be filled by interim personnel, who would hopefully be current employees, alumni or friends of the college.

She said the alumni association hasn't spoken with the college's leadership about the campaign and is focusing on raising funds at this point.

The alumni recognize that $20 million is only the tipping point of what's needed to save the strapped-for-cash college, Bradway said, but they're hoping it will at least stop the school from temporarily closing.

"If we can make this happen and make it happen soon, we do have a good chance of maintaining Saint Joseph’s College," she said.

The money will be returned to the donors if the $20 million goal isn't met, she said. The association is working with DeMotte State Bank in Rensselaer and four alumni who live in the area, two of whom are attorneys, are overseeing the donations, she added.

The group wanted to act quickly to raise the funds to allow the college's admissions team to keep recruiting new students, Bradway said. The association realizes the incoming freshman class won't be as large as it was on-track to be before the suspension announcement, she said, but believes a class can still be assembled. It also expects most of the junior class to stay if the college remains open, although the retention of current freshmen and sophomores isn't as clear.

So far, the response to the campaign from students, parents, employees and alumni has been positive, Bradway said.

"This is something people can do and contribute to," she said.