NYC College That Prayed for Bill Hwang Struggles to Stay Afloat
The King’s College says it needs donations from alumni to remain open. The small Christian school in the heart of Wall Street has gotten support from Hwang and members of the DeVos family.
Bill Hwang
Photographer: Stephanie Keith/BloombergWhen Bill Hwang’s Archegos Capital Management collapsed in scandal two years ago, a tiny Christian college in the heart of Wall Street said it was praying for Hwang, one of its benefactors. Now that school, the King’s College, is asking alumni to “prayerfully consider” donating money to keep it afloat.
The college sent a note to alumni this week saying it needs to raise $2.6 million in donations to maintain operations and pay for teachers’ salaries, IT expenses and student support services. The small college of just over 300 undergraduates said it was struggling to sell a building that honors the late billionaires Richard and Helen DeVos, donors who served on the school’s board of trustees.