It looks like Cheyney University has turned a corner.
The historically Black institution that was once rumored to be on the brink of possibly shutting down amid concerns about the future of its accreditation recently announced that it ended the fiscal year with not only a balanced budget, but a surplus of $2.1 million.
According to university officials at the nation’s first HBCU, the school brought in $4.4 million as a result of its alumni “Resurgence” campaign. Additionally, the Pennsylvania Department of Education provided the university with a $2.5-million unrestricted grant.
In the past, the state-affiliated institution faced mounting debt to the sum of $43 million.
Back in April, Cheyney requested additional state funding to meet payroll through the remainder of the year.
Pennsylvania’s governor, Tom Wolf, approved the request.
“Gov. Wolf has long supported ensuring a strong future for Cheyney,” said J.J. Abbott, a spokesperson for Wolf.
