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Wednesday, May 18, 2022

Knoxville College 2022 Annual Report

Dear Friend of Knoxville College,

As I reflect over the last 12 months, I often think of the reason why I am here with such odds. I continue to say, “It may be difficult, but it’s possible”. Yes, possible for Knoxville College to return as an anchor institution in the City of Knoxville, State of Tennessee, and the region. This is the reason and why.

Those that have come before us are depending upon me, this team and Alumni to do our duty and position Dear Ole KC on the pathway of success. I am committed and focused on our vision plan goals and remain flexible to explore complementary opportunities as they arise.

Speaking of the goals, please review the One Year Later: Adams/Lundy Administration Annual Report. It is our hope that we have fully highlighted our work over the last 12 months and that you gain a clear understanding of all that took place and that this is just the beginning. We have high aspirations for 2022 “the Year of the student – our Road to Accreditation”.

I’d like to close with pointing out a few major business decisions made to date:

We have successfully restructured and refinanced our debt that has been non-compliant for years down from just south of $8.5M to a new $4.7M with our lender forgiving $3.8M. In addition, we have funded a reserve escrow account that will ensure on-time monthly payments for the next 3 years.

I am equally excited to inform you that we have also re-established our endowment accounts and have made a total investment in the amount of $250,000.00. If you are interested in donating to our endowment, please reach out to me at the College.

Lastly, this action has also positioned and strengthened Knoxville College as a business. Knoxville College approved the interest sale of the Pilot College Station partnership to the sum of $2.7M. The Pilot College Station has been a lifeline for years and has continued to produce, particularly in this time of need.

Knoxville College is strong and ready to concentrate on our students, innovative programing, including re-development and most importantly our accreditation.

Happy Black History Month – Black365

With gratitude,

Leonard L. Adams Jr.

Dr. Dasha Lundy

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