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Diocese of Wheeling-Charleston buys WJU assets

School will continue to operate; will lease space from Diocese

WHEELING — Wheeling Jesuit University has been purchased by the Diocese of Wheeling-Charleston in an effort to assure the future of the only Catholic university in West Virginia.

Earlier this year, WJU’s Board of Trustees appealed to the diocese to take action to help secure its long-term future and lower its operating costs. Specifically, the university was challenged by its long-term debt, and determined that the annual payments were more than it could sustain, according to a statement released this morning by the university. Bishop Michael Bransfield and the diocese responded by redeeming WJU’s bonds.

In exchange for the bond redemption, the diocese will take ownership of all of the university’s property, which it originally gifted to the university in 1952. No dollar figured was revealed although WJU President Debra Townsley said it was a “substantial commitment.” This action will allow the university’s administration to focus on strengthening operations and building a sustainable financial model, officials said. The property will be leased back to the university at a nominal rate.

The diocese will have no ongoing responsibility for the operation of the university although changes are forthcoming in the area of curriculum, Townsley said.

She said it is through the Diocese’s generosity that the university will continue to offer a quality education that ensures a bright employment future for its graduates.

She said this commitment will enable WJU to modify its cost structure with the goal of achieving a balanced budget. Officials said the university will now embark on a new strategy to reimagine, realign and renew the future of Jesuit education that began with the support of the diocese more than 60 years ago.

“We are ever grateful for the generosity of the Diocese and Bishop Bransfield to strengthen the future of Wheeling Jesuit University,” Townsley said. “It’s an exciting day. It’s not many schools that can have its debt eliminated.”

The board of trustees will remain in place as will the Jesuit community that established the school in 1954.

Townsley said it was the goal of the founding fathers to provide West Virginians with educations that help in obtaining jobs and to help with the economy.

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