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William Tyndale College Closed

Jan 28, 2005

FARMINGTON HILLS, MI – William Tyndale College of Farmington Hills, Michigan, founded in 1945, ceased operations effective December 31, 2004. The closing is due to a significant funding shortfall that will not support continued operations beyond the end of the Fall term. The magnitude of the funding shortfall was beyond the ability of Tyndale to resolve.

Tyndale recently confronted similar financial problems and a potential closure in the Spring of 2003. At that time, Regent University, located in Virginia Beach, VA, committed funding of one million dollars to enable the school to continue its operations and Tyndale and Regent entered into an affiliation agreement. Since that time, Regent University has more than doubled its original commitment contributing more than two million dollars to Tyndale in order to continue operations.

Tyndale had anticipated a substantial increase in enrollment for fall, 2004, but that did not materialize in spite of additional advertising support underwritten by Regent University. Enrollment for the fall 2004 was about the same as the fall 2003 level and that level was insufficient to support continued operations.

In addition, Tyndale entered into discussions with Detroit World Outreach (DWO) in late September with the expectation that would lead to an added affiliation and funding support by DWO to Tyndale. DWO advised Tyndale in November that it had concluded it was not in a position to provide needed funding or enrollment support to Tyndale.