Sherman College Campus Becomes Debt Free

JUNE 19, 2002 -  Sherman College staff, faculty, alumni and friends recently celebrated when the college achieved the exciting goal of retiring its final mortgage and became a debt-free campus. A Mortgage Burning Ceremony was held on Saturday, May 25, in conjunction with the college's yearly Lyceum program, a four-day celebration that involves seminars, continuing education courses, alumni reunions and many other special events.

"Sherman College has reached a significant milestone in becoming a debt-free campus for the first time since it was founded in 1973," said the college's President, Jerry L. Hardee, Ed.D. "Becoming a debt-free campus will enable us to launch a multi-million dollar fund-raising campaign that will further ensure our future."

The college began a mortgage fund-raising campaign earlier this year and successfully raised the $210,000 necessary to retire the mortgage. To accomplish this goal, Sherman College Vice President for Institutional Advancement Leroy G. Moore, D.C., requested additional financial support from Regents, alumni and friends of the college.

"We extended a special request for donations to our supporters because they have been so faithful and have been in large part responsible for the success Sherman College has achieved," Moore said. "Our alumni, Regents and friends stepped up and were instrumental in helping us reach this goal."

Moore noted that many supporters' donations to retire the mortgage were made in addition to regular yearly pledges. "In keeping with the Lyceum 2002 theme, 'Stand Proud, Step Forward,' our supporters stood proud of the impact Sherman College has had on the chiropractic profession, and they stepped forward to help us meet this important goal," he said.

Sherman College Vice President for Business and Finance Tim Revels said being a debt-free campus has many advantages and speaks volumes about the college's stability. "Sherman College has certainly made substantial progress over the past several years," he said. "Reaching this goal will bring an even higher level of stability to the institution and allow the college to utilize more of its assets to continue strengthening its programs and position within the chiropractic profession."

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