Emory & Henry University is no longer on probation with its accreditor following a year of oversight.
The Southern Association of Colleges and Schools Commission on Colleges began monitoring the private institution in 2023 after detecting compliance issues at the university.
Last June, E&H was placed on probation because it was still out of compliance with a financial responsibility requirement of accreditation — the most serious sanction a school can receive without having its accreditation revoked.
Accreditors validate the quality and credibility of colleges and universities and evaluate these benchmarks on a regular basis. SACSCOC is one of 19 institution-level accreditors in the U.S.
The requirement in question stated “the institution manages its financial resources and operates in a fiscally responsible manner,” according to SACSCOC’s principles of accreditation. At the time, the university said it was on track to remedy its financial concerns and address its noncompliance issues.
Now, SACSCOC has determined that Emory & Henry is fully meeting all criteria, according to a news release.
“Emory & Henry was placed on probation in June 2025 after a regularly scheduled review for not fully meeting SACSCOC’s criteria,” university President Lou Fincher wrote in a June 16 email to alumni. “This was based largely on financial records from 2022-2024. Since then, we have made significant changes in our financial operations and greatly improved the financial strength of the University.”
During the 2025-26 fiscal year, the university worked to remedy a financial deficit of $7.5 million — completing the year with a balanced budget, Fincher wrote.
“Over the past year, we have continued to optimize revenue, reduce expenses, improve efficiency, and streamline operations,” she wrote.
The university is on track to finish this fiscal year with a balanced budget as well, according to the email.
University spokesperson Rachel Fogg did not respond to multiple interview requests.
Emory & Henry had operating revenues of $51.3 million for the fiscal year ending in June 2025 and operating expenses of about $52.8 million, according to the latest audit. For the year prior, the school brought in about $51 million and had operating expenses of about $57 million.
“My colleagues and I are steadfast in our commitment to continuing our financial stewardship, growing enrollment, and identifying innovative revenue opportunities to further strengthen our financial stability,” Fincher wrote.
Prior to the monitoring that began two years ago, E&H was previously monitored by SACSCOC in 2018 and 2019. It was last evaluated and had its accreditation reaffirmed in 2017; the university will next undergo that process in 2027.
Probation came amid expansion
Fincher noted increased student applications and retention in recent years, as well as new initiatives such as the Emory & Henry Tuition Promise, a reduced tuition price program and partnerships with area community colleges like Virginia Highlands Community College.
But enrollment remains a challenge.
Enrollment dipped in 2020 amid the COVID-19 pandemic but recovered and held steady from 2021 to 2023 at around 1,350 students.
It fell to 1,311 in fall 2024 across undergraduate and graduate programs, and then to 1,184 in fall 2025, according to data from the State Council of Higher Education for Virginia.
Emory & Henry transitioned from a college to a university in 2024, after a decade building up offerings for master’s degrees alongside its bachelor’s degree programs.
Just last month, the university announced a fully online Master of Business Administration program.
The school has undertaken significant campus renovations and additions over the past few years, including new apartment-style student housing, a new athletic complex, a new equestrian center and a facility renovation for the university’s new business school.
The university completed its move from Division III to Division II in the National Collegiate Athletic Association in summer 2024 and launched a lab school that same year for high school students interested in training for health care careers, one of more than a dozen partnerships between school divisions and colleges that have launched with state funding.
Fincher was formally selected as president in March 2025. She had previously been a senior vice president at the school and was named interim president in summer 2024 after the abrupt resignation of predecessor John Wells.
