TALLADEGA, Ala.
With another review by the Southern Association of Colleges and Schools fast approaching, fundraising at Talladega College has become a top priority.
The school, led by newly appointed President Oscar Prater, has reached out to the local community, large corporations and private individuals in search of money to help pull the historically Black college out of debt.
Since Prater took over shortly after probation by SACS was announced last December, the school has “increased fundraising at least $800,000 more than the prior year, and that was a significant step to reaching financial stability,” Prater said.
The school’s last audit from the 2003-04 fiscal year stated Talladega College was more than $1.5 million in debt when it came to net operating expenses.
Now under Prater’s leadership, the college has consolidated its debt, making it more manageable. And with donations coming in from Honda Manufacturing of Alabama, Alabama Gas Co., the Talladega Superspeedway, Bellsouth, Coca-Cola and alumni, Talladega College is making headway for the first time in several years.
“I’m very pleased with the financial progress we’ve accomplished in the past year,” Prater said. “We’ve tried to assure the success for next year by making budget adjustments for this year, improving operating efficiency at the college and we’ve increased the ratio of students to employees.”
