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Bastyr University tells Kenmore council it averted sale after $14 million losses; plans "centers of excellence" and partial property sales to stabilize finances
Summary
Bastyr University leaders told the Kenmore City Council the school lost about $14 million over three years, secured roughly $3 million from a philanthropic loan to avoid a bank-forced sale, removed an accreditor sanction and is pursuing program consolidation, community partnerships and partial property sales to return to positive net revenue by June 30, 2026.
Bastyr University representatives on Monday told the Kenmore City Council the private natural‑medicine school had faced severe financial stress but is taking steps to stabilize operations and keep its campus in the community.
Dr. Joseph Pizzorno and Chief Administrative Officer Randy Frisch said the university lost about $14 million over the prior three years and was effectively out of cash when they returned to lead the institution. Frisch said a local philanthropist provided a loan that allowed the university to take out its mortgage with US Bank and avoid selling the campus to a developer. "We lost about $14,000,000 in the prior 3 years," Frisch said. "We were effectively out of cash ... we were able to bring in about $3,000,000 to help us address immediate needs."
The presenters told the council they had reduced operating expenses, examined programs for…
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