The financial crisis at Florida-based Bethune–Cookman University (B-CU) forced four of its board of trustees to step down this week.
The board members of the historically black university tendered their resignations following a letter from B-CU National Alumni Association President Robert Delancy, who accused the board of failing to protect the finances of the school.
“Our demand is based upon three years of actions/inactions by the Board of Trustees. The Board’s actions clearly demonstrate a woeful lack of leadership skills,” reads the association letter.
“We have students with no scholarship money, parents in a panic, and employees who are fearful of losing continued employment.”
Last week, more than 40 students, employees, and alumni protested against the board.
Former board chair Joe Petrock, who is one among the trustees to resign, claimed that he is being unnecessarily blamed for the financial problems at the school and targeted after the university declined to build new dormitories citing lack of finances.
“I wasn’t the chairman when the housing project was presented and I wasn’t on the executive committee. I was just a member of the board. We weren’t given all the information,” Petrock told Daytona Beach News-Journal.
The university has earlier sued its officials, including the former president Edison O. Jackson, for corruption and fraud in the dorm deal.