Talladega College will hold a State of the College Press Briefing at 1 p.m. on Thursday, April 3, 2025, at the Dr. William R. Harvey Museum of Art, 615 Battle Street West. College leadership, including Board Chair Rica Lewis-Payton and Interim President Walter M. Kimbrough, will discuss steps that have been taken to improve the college's financial health.
The College has made significant progress since its September 2024 press conference by taking bold steps to address its financial stability and viability as an institution.
Kimbrough shared, “We have made tremendous progress in the past 10 months. And while there is still much to do, we are better positioned to meet those challenges.”
Some actions taken by the team include reviewing and realigning grants, streamlining vendor relationships, and strategically reducing expenses.
"The Board of Trustees and the College's leadership team have worked diligently to set Talladega College on a positive path forward," notes Lewis-Payton. We are confident about our progress to BUILD BACK BETTER. We remain highly motivated to ensure that Talladega College survives and thrives."
A key development was a $15 million working capital loan provided by HOPE (Hope Enterprise Corporation / Hope Credit Union) to strengthen the financial position of the college by improving its cash flow. A community development financial institution serving Alabama, Arkansas, Louisiana, Mississippi and Tennessee, HOPE has generated more than $60 million in financing to support facilities, housing and other needs at HBCUs.
“HBCUs make an outsized contribution to the prosperity of people and communities in the Deep South,” said HOPE chief executive officer, Bill Bynum. “Our investment in Talladega College underscores the alignment of mission and values between HOPE, HBCUs, and the communities they serve.”
The board chairwoman and interim president will also provide additional updates on improvement strategies that are in process and forthcoming. The press briefing will stream live on the Talladega College YouTube account.
