04/22/2025
Potential Financial Lifeline Surfaces for Limestone University;
Board of Trustees Awaits More Information
After gathering today to discuss the future of Limestone University, the Limestone Board of Trustees has announced a possible funding source has surfaced which may allow the University to remain open with on-campus and online classes.
“This possible funding solution has us all cautiously optimistic about the future of Limestone as both an in-person and online educator," said Randall Richardson, Chair of the Limestone University Board of Trustees. “Last week, we were at the brink of a possible closure or transition to online-only classes. Now, we are pausing that discussion so we can wait on more information about a potential financial lifeline. We want to emphasize, this is just a possibility at the current time.”
The Limestone University Board of Trustees will reconvene once the needed information is available, but no later than April 29, 2025.
Founded in 1845, Limestone University currently serves 1,600 students, including student athletes and those seeking online degrees. Last week, the Limestone Board of Trustees announced that, absent the University obtaining immediate financial support in the amount of $6 million, the institution would need to move to a fully online model, or, possibly, to begin the process of ceasing operations.
“Sharing that devastating news with our students and staff was the hardest announcement I’ve ever had to make,” said Dr. Nathan Copeland, President, Limestone University. “Though shaken, our students, staff and members of our greater Gaffney community banded together. They prayed, reached out to possible donors and kept their faith in God that He could provide a way through. I’m grateful for this potentially positive development and ask everyone to be patient while our Board awaits more information. In the meantime, out of an abundance of caution, we need to move forward as if our on-campus activities are ending at the end of this semester and we will only offer on-line classes moving forward. I regret the uncertainty of the situation, but we must be exceptionally cautious.”
Limestone University has long been a vital institution in South Carolina and the greater region, blending academic excellence with personal attention and a rich campus life. The institution has a $150 million annual economic impact on Cherokee County and a potential shift to online-only instruction threatens not only the campus experience, but local jobs and the cultural presence Limestone has provided for nearly two centuries.
The university’s financial challenges stem from a combination of nationwide enrollment declines, rising costs, and long-standing structural pressures facing small, private institutions. The proposed $6 million emergency fund will stabilize operations and give the university the opportunity to pursue long-term solutions that preserve its on-campus identity.
“We hope to receive more information in the next week regarding a potential funding source,” said Richardson. ”We are committed to preserving the Limestone mission of education and service on our campus in addition to online, but we can only do that with adequate funding. We will update everyone as soon as we know more. Please be patient and continue to pray for a viable solution to save this historic university.”
