FORMER ST. AUG. BOARD
CHAIRS NO LONGER
SERVING, ACCORDING TO
REPORT
By Cash Michaels
Contributing writer
A Raleigh television station has reported that two former chairmen of beleaguered St. Augustine’s University (SAU) in Raleigh are no longer members of the trustees board of the small historically black Episcopalian institution, as a condition of a loan agreement to cover its outstanding debts.
WRAL-TV reports that as of January 7th, both former St. Aug. Trustee Board chairmen James Perry and Brian Boulware were “ousted” from continued trustee board membership “…as part of a deal with an investment group providing a financial lifeline…. that also offers protection to the school’s valuable Raleigh property against debt claims.”
That investment group is reportedly Self-Help Venture Fund, which, according to WRAL-TV, agreed just within the last two weeks to “…to take over millions of dollars in debt owed by the university, which has been grappling with falling enrollment amid a battle over its accreditation and findings of weak controls over financial reporting.
This reporter confirmed that both Perry and Boulware were no longer listed on the school’s trustee board webpage. WRAL reports that change was made “as of Wednesday (January 7th).” The webpage did not indicate why they were no longer listed, or when they were removed.
The removals are notable because both Perry and Boulware led the university’s trustee board during a controversial period when SAU fell into serious financial and management difficulties, resulting in millions of dollars in lawsuits and failure to pay numerous obligations that made for unpleasant headlines, and led to SAU losing its permanent academic accreditation twice, along with an 81% reduction in campus enrollment by the beginning of its 2025-26 school year.
SAU has had to employ remote learning online in order to cut costs and maintain any student enrollment, after having a graduation class last May of under 40 students. The school also had to win a court injunction to hold onto its academic accreditation while it fights in court to permanently retain it.
According to WRAL-TV, the new financial loan agreement reached between SAU and Self-Help Venture Fund, “…is expected to help address immediate financial obligations and help pay employees, according to messages from university leaders obtained by WRAL. As a condition of the deal, the lender asked for the removal of former Board of Trustees chairmen who were still serving on the board in emeritus roles, according to financial proposals obtained by WRAL”
Reportedly, James Perry told the TV station that he’s no longer serving on the SAU Trustee Board because his term had expired. Brian Boulware said that “…he hasn’t been notified of any removal and was trying to get answers himself.”
SAU’s current trustee board leadership consists of Chair Sophie Gibson of Atlanta, Ga., (the first female chair in the school’s 157 year history) and Vice Chair V. Lynette Mitchell of Williamstown, NJ, the first woman to ever serve in that capacity. Both were elected to board leadership in August 2025.
The school is still fighting to permanently retain its academic accreditation membership in Southern Association of Colleges and Schools Commission on Colleges.
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