Iowa Wesleyan University is searching for a potential partner to help secure the school’s future.

The university almost had to close their doors this fall after admitting its financial struggles. Enough money was raised to keep operations running, but the board of trustees decided fundraising alone wasn’t going to last. In November, the board of trustees adopted the Alternative Futures Program. This program includes a nine-person New Directions Team comprised of alumni, trustees, and school leaders.

When asked about what kind of partnerships the school is looking for, Vice President of Strategic Initiatives Meg Richtman says they are keeping an open mind, “To say that it’s going to be very specific or that we’re looking for something specific, I can’t say that. I would say that we want to partner with strength. So an institute or organization that can help provide additional support financial is definitely going to be a part of that, but where we come together, where we can contribute something they don’t have and they can contribute something we don’t have to help support and grow.”

The first step in finding these partnerships is sending out requests for proposals. Richtman says they’ve already sent out around 240 to various organizations, and the school has already received some mutual interest. Richtman says the university hopes to announce a new partnership in early March.