Saving Sweet Briar, Inc., Will Deliver More Than Due by Final September 2 Settlement Deadline

by vixenSBC

bell tower

September 1, 2015 Richmond VA– Saving Sweet Briar, Inc., the non-profit group formed to save Sweet Briar College, announced today that it will not only meet the September 2nd final payment terms of the June 23 Settlement Agreement, its payment tomorrow will be in excess of the $3.5M due tomorrow. That payment will be wired into Sweet Briar’s bank account at 12 Noon.

Mary Pope Hutson, Chair of the Major Donor Task Force for Saving Sweet Briar, Inc., said today, “We made the first two payments ahead of schedule and will exceed the amount due for the third and final payment. The fight to take back Sweet Briar College will be complete at Noon tomorrow.

“September 2 is a day to celebrate . . . together! At 12 Noon EST, ring a bell if you have one, and let’s show the world our colors—a sea of pink and green! And please share our story of tenacity and determination. WE, the alumnae of Sweet Briar College, have preserved this unique institution of higher education to empower future generations of young women—just as it empowered us. As our new president Phil Stone said, ‘At Sweet Briar, the impossible is just another problem to solve!’”


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Saving Sweet Briar Timeline

March 3, 2015 - Sweet Briar College announces Spring 2015 will be final semester, school will close on August 25, 2015.

March 3, 2015 - Sweet Briar College alumnae galvanize on Facebook, creating working groups to work to halt closure.

March 4, 2015 - SavingSweetBriar.com launches in the early morning hours. Website begins accepting pledges midday.

March 6, 2015 - SavingSweetBriar.com pledges exceed $1 million (with additional unconfirmed $1 million pledge that will later be confirmed).

March 6, 2015 - Troutman Sanders retained to fight closure. Read More

March 9, 2015 - Saving Sweet Briar, Inc. formally incorporated as a non-profit with seven alumnae appointed to serve as board members. Read More

March 11, 2015 - Virginia State Senator Chap Petersen sends letter to state Attorney General regarding the legality of closing the college. Read More

March 11, 2015 - Sweet Briar faculty join alumnae in fight to keep college open. Read More

March 18, 2015 - Saving Sweet Briar, Inc. begins accepting donations in the fight to save the college.

March 23, 2015 - Troutman Sanders sends letter requesting President and Board resign. Read More

March 26, 2015 - Saving Sweet Briar, Inc. hires Certified Fraud Examiner. Read More

March 30, 2015 - Amherst County Attorney, Ellen Bowyer, files suit against Sweet Briar College.

April 6, 2015 - Initial Financial Analysis concludes financial condition did not warrant closure Read More

April 12, 2015 - $5 million pledged to Saving Sweet Briar.

April 13, 2015 - Amherst Mayor sends letter opposing closure. Read More

April 15, 2015 - Judge Updike issues a 60 day injunction preventing the college from using funds solicited to operate the college to close it.

April 23, 2015 - Saving Sweet Briar, Inc. launches Alumnae Angels program to help students with financial concerns during transition and uncertainty.

April 29, 2015 - Judge Updike issues another injunction in one of the other legal cases preventing the college from selling assets for six months.

April 29, 2015 - Amherst County Attorney files Petition to Review with Virginia Supreme Court.

May 19, 2015 - Saving Sweet Briar, Inc. granted 501(c)(3) status, with tax exempt status applying to all donations made from the incorporation date of March 9, 2015.

June 9, 2015 - Virginia Supreme Court rules that Sweet Briar College can be a trust.

June 19, 2015 - Saving Sweet Briar, Inc. announces $21 million total pledged over 5 years.

June 20, 2015 - Settlement reached, keeping Sweet Briar College open. Settlement terms include 3 payments to college with the first $2.5 million due on July 2.

June 23, 2015 - Amherst CountyBoard of Supervisors names Sweet Briar Day.

June 30, 2015 - Saving Sweet Briar, Inc. delivers $5 million ahead of schedule to Sweet Briar College.

July 2, 2015 - President Stone assumes new position, new Board of Directors appointed.

September 2, 2015 - Saving Sweet Briar, Inc. delivers final settlement payment to Sweet Briar College, exceeding $12 million total.