NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com | ORU reduces debt below $1M
Associated Press - June 3, 2009 3:25 PM ET
TULSA, Okla. (AP) - Once more than $50 million in the red, Tulsa-based Oral Roberts University has whittled its debt load to just under $720,000.
School officials also announced Wednesday that more than $22 million had been raised through the school's Renewing the Vision matching gift campaign.
Nearly 16,000 donors gave to the campaign, the school reported.
The evangelical school is recovering from a 2007 financial scandal that spawned several lawsuits and led to the resignation of televangelist Richard Roberts as school president.
Roberts, son of school founder Oral Roberts, has denied wrongdoing.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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