Keystone College announced that the long-planned merger transaction with the Washington Institute for Education and Research (WIER), a nonprofit organization formed to further and support higher education, was completed on Friday afternoon, May 30, after all necessary steps in the process were successfully achieved. As the College has previously indicated, the merger allows Keystone to continue operations under its current name and educational mission.
In his message to the College’s Trustees and campus community, President John F. Pullo, Sr., stated, “I am pleased to report that the merger transaction between Keystone and WIER was concluded on Friday, May 30, finally joining the College with its strategic partner after nearly a three-year journey that at times threatened the future of the College. The fact that we can make this announcement today is a testament to the remarkable commitment and trust that WIER, especially Dr. Ahmed Alwani, placed in Keystone and to the perseverance, courage, and resilience of the extraordinary group of individuals on the Keystone team who fought through the adversity and took respite in the positive developments as things began to turn our way.”
Those positive developments included an announcement on Thursday from the College’s accreditor, Middle States Commission on Higher Education (MSCHE), that it had reviewed and approved Keystone’s complex substantive change request; noting that accreditation will continue once the merger was finalized. Keystone is required to work closely with Middle States on several milestones and reviews as part of the College’s continued accreditation.
“I am delighted and grateful to the entire Keystone team that we have finally reached this point. When I was first introduced to Keystone, I realized that it was a special place with a rich history in serving students for whom a college education changes their entire family’s trajectory.
While we are dedicated to enhancing that mission, we are equally driven to being innovative with respect to the educational opportunities needed for today’s students in all areas, including online, international, and certifications,” said Dr. Ahmed Alwani, President of WIER.
Tim Pryle, Keystone’s Vice President of Enrollment, Institutional Advancement, and Marketing added, “As we have stated many times throughout this process, the commitment to saving and rebuilding a college is exhaustive and must be done deliberately. This is a milestone moment worthy of celebration. However, we are all well aware of the task at hand. And that task includes reestablishing confidence in Keystone College and in sharing with prospective students and their families the unique value proposition that Keystone offers for a quality, private, liberal arts-based education at an affordable investment within today’s ultra-competitive higher education market.”
Prior to the announcement from Middle States, Keystone had secured approvals from its regulatory agencies, including the Pennsylvania Department of Education, the Pennsylvania Office of the Attorney General, and the United States Department of Education. Among the final pieces of the transaction was the merger of Keystone College, Inc., into Keystone College, LLC, with WIER as the sole member.
Pullo concluded, “In addition to Dr. Alwani and WIER, I am sincerely grateful for the community’s continued support for Keystone. We still have much to do, but for today, we can all celebrate that the College will continue not only serving its vital educational mission, but also preserve its profound cultural and economic impact in the community and the region as we build upon our 157-year legacy.”
