During it’s nearly 200-year history, Cazenovia College survived through many difficult and challenging times – the Great Depression, World War II, a major building fire in 1959, and more, but a combination of financial challenges were more than the College could overcome and consequently, the College announced it would not be enrolling students for the Fall 2023 semester. The business realities that led to this extremely difficult decision were accelerated by the global pandemic and skyrocketing inflation. The population of college-aged individuals had been shrinking, making it hard for small private colleges like Cazenovia to maintain enrollment levels. Additionally, the coronavirus pandemic dramatically impacted recruitment and fundraising efforts while increasing economic burdens for the College. The uncertainty in the bond and stock markets made it exceedingly difficult to refinance the College’s bond debt, and being a small college without a large endowment made the College’s challenges formidable. While the College worked tirelessly to strengthen its financial position, unfortunately, these efforts did not create results to ensure long-term viability. Cazenovia College held its 198th and final commencement ceremony on May 13, 20023 and officially closed on June 30, 2023.