New York, May 19 – Statement by Susan Walsh, Spokesperson for The Fedcap Group, on the Proposed Combination with Paul Smith’s College
“The Fedcap Group is deeply committed to the future success of Paul Smith’s College. Its unique programming, campus experience, and importance to the community are unmatched in the region. Like many small private colleges and universities over the last decade, Paul Smith’s has had challenges, but working together and doing the transformative work now, we believe they have a strong path forward.
In 2019, we were introduced to Paul Smith’s College to help them secure that future and leverage our decades of experience working with educational/workforce programs and not-for-profits to help turn things around. With our support, PSC has resolved many of the challenges and issues they were facing, including operational issues, such as the recent cyberattack; leveraging assets and expertise to increase philanthropic giving and expand external grants; and creating new enrollment pipelines from our other education and workforce programs, like a new culinary extension site in New York City. We are confident that our partnership can only make the institution stronger—while protecting the College’s identity and core academic programs, things often lost during a typical merger of two educational institutions. In other words, our combination can mean Paul Smith’s College is here to stay.
Many have asked, ‘what’s in it for Fedcap?’ As a charitable organization dedicated to breaking down barriers to economic well-being for the disadvantaged, the proposed combination advances Fedcap’s important mission because it opens doors to new educational opportunities for the people we serve.
PSC has presented a responsible and thoughtful plan to state regulators and we hope they approve our acquisition as soon as possible so the team at Paul Smith’s can focus on doing what they do best—providing a one-of-a-kind educational and career training experience in the Adirondacks.”
The Fedcap Group