Bethune-Cookman University lost nearly $10 million during its first year under interim President Hubert Grimes, newly released tax documents show, continuing a five-year trend of steep losses that have
jeopardized the historically black universityās future.
The $9.9 million in losses during the 2017-2018 fiscal year ā the last year for which records are publicly available ā slightly exceeds the $9.8 million B-CU lost the previous year under former President Edison Jackson, who is now being sued by the school for alleged fraud.
Grimes and B-CUās chief financial officer did not respond to requests for comments. A statement from the school said the IRS Form 990 āreveals nothing new.ā