College of New Jersey, 2000 Pennington Road, Box 7718, Ewing 08628. 609-771-1855. Kathryn Foster, president. www.tcnj.edu.
Fitch Ratings of Chicago has given a negative rating to The College of New Jersey’s bonds, downgrading it from “stable” due to its high debt.
Analysts said the college has high operating deficits, expense growth outpacing revenue over the last three years, and an increasing reliance on student-fee generated revenue. Fitch also cited its high debt burden of $414 million, which “limits its operating flexibility to fund future strategic and capital needs.”
Fitch called TCNJ’s available fund level “slim but sufficient.” It cited pension expenses at $17 million a year as a major drain on the college’s operating budget.
Grant
Princeton AlumniCorps, 12 Stockton Street, Princeton 08540. 609-921-8808. Kef Kasdin, president and executive director. www.alumnicorps.org.
The Princeton Alumni Corps has received a $15,000 grant from the 1772 Foundation to restore its historic headquarters, an 1824 building at 12 Stockton Street. It was one of 12 organizations to receive the maximum grant amount.
The building is one of 40 or so remaining properties built by noted architect-carpenter Charles Steadman. In addition to providing office space to support all of AlumniCorps’ leadership programs, the building acts as a hub for many AlumniCorps-related and community events. The group has owned the building since 2000.
AlumniCorps’ future plans for the building include making the entrance ADA-compliant. Additional indoor work includes upgrading the conference room and kitchen to provide a more inviting space.
Deaths
Donald E. Lippincott, 91, on August 13. He was an editor and reporter for the Times of Trenton for 27 years.
Alfred R. Perna, 81, on August 10. Together with his wife, Irene, he established Mazur Nursery and ran it until 2016.
Tharyle J. Prather, 69, on August 13. He worked for more than 35 years at Rider University as director of theater facilities, faculty and technical director.
