SALEM REBOOTS.

• Author: Pressler, Alyssa
• Position: STATEWIDE: Triad

Salem College is on its way to meeting a $10 million fundraising goal needed to get the historic women's school out of financial probation and on a growth path. More than 2,500 donors have pledged $8 million since June 2018, when the Southern Association of Colleges and Schools Commission on Colleges directed the college to improve its finances or risk losing its accreditation. The 12-month probation requires the college to pass a balanced budget, reduce its overall debt and increase its enrollment, interim President Sandy Doran says.

Started by Moravians as a girls school in 1772 in the historic Old Salem community, Salem began awarding college diplomas in 1890. Under presidents Lorraine Sterritt (2014-18) and Susan Pauly (2006-14), Salem bought nearby property and added buildings for the first time in decades, including a student center, residence hall and tennis center, in hopes of attracting more students.

Revenue didn't meet projections, however, leaving the college with a $26 million debt that perplexed campus leaders and caught the accreditation agency's eye.

With Doran taking the top post last year, Salem is on track for a balanced budget that is about $2 million less than in previous years. Enrollment is expected to increase about 10% this year from the 939 students enrolled as of September.

"We are in a much stronger position today than when [the accrediting group] first came to us," says Doran, whose previous work included stints at the New England Board of Higher Education and the for-profit American College of Education, an Indianapolis-based company that offers exclusively online courses.

Salem hired Doran under a two-and-a-half year...