North Carolina HBCU faces battle with IRS, risks being shut down

Saint Augustine's University in Raleigh, North Carolina, is in an ongoing battle with the IRS and the Southern Association of Colleges and Schools Board of Trustees after the historically Black school's previous finance department "mismanaged" a $34 million budget, according to university officials. Historically Black Colleges and Universities (HBCUs), both public and private, have been underfunded due to lower endowments, less alumni support and state and federal underinvestment. Recently, HBCUs have faced several challenges. During a funding crisis, Tennessee State University had its board stripped away in a complete overhaul...