Fisk University is now on one-year probation by the Southern Association of Colleges and Schools, following two warnings issued to the school over the past year.
According to the SACS website, the probationary status continues accreditation for good cause, requests an additional report and authorizes a special committee to further examine the institution.
Fisk received warnings primarily based on financial stability and concerns regarding the qualifications of administrators.
On Saturday, the university’s senior leadership team made a presentation to the SACS Commission on Colleges Board.
“That presentation included strategic initiatives through increased revenue, which include meeting our goals for the annual giving program and kicking off our comprehensive campaign,” Fisk president Hazel O’Leary said in a press release.
“We believe the strong demonstration of progress made was a factor in Fisk’s continuation of accreditation.”
The university said that it will continue to be eligible for state, federal and foundation grant funding — and students will still be eligible for financial aid.
The university is in the midst of a five-year court battle to gain the right to profit financially from an art collection donated by Georgia O’Keeffe in 1949. The most recent solution proposed by the university is a $30 million share of the collection with the Crystal Bridges Museum in Bentonville, Ark. — but the state attorney general is challenging the deal.