Judge lifts restrictions on Webster University endowment funds
Published: Mar. 1, 2024 at 7:49 PM CST
ST. LOUIS COUNTY, Mo. (First Alert 4) - A judge has ruled Webster University can transfer earmarked funds from donors to a new account to help bolster its ability to pay off debt.
Circuit Judge Stanley Wallach on Friday ordered the school can reclassify almost $29 million from numerous endowed scholarship funds to unrestricted funds. The order states the funds, once unrestricted, can be counted in the institution’s liquidity ratios, which will help the institution meet requirements for a loan.
Some donors were opposed to the measure. The school has been under fire in recent years due to losses and decreased enrollment.
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