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2 Worcester Business Journal | May 4, 2026 | wbjournal.com BY MICA KANNER-MASCOLO Special to WBJ C iting financial hardship, Anna Maria College in Paxton will stop academic operations at the end of the spring 2026 semester aer 80 years of operation. Anna Maria announced its decision on April 23, saying the choice came aer an extended period of financial restructuring, close collaboration with state oversight bodies, and thorough consideration of alternatives.. e college expects to completely close by the end of the calendar year. "e Board of Trustees reached this decision only aer pursuing every realistic alternative. We are heartbroken," Anna Maria College Board Chair David Trainor said in the announcement. e news comes shortly aer the Massachusetts Department of Higher Education posted a notice on April 10 the college may not have sufficient funds to operate for the next 18 months. With the college's fall 2026 deposit activity exceeding prior years, enrollment continuing to increase 7.5% annually, and a $5-million gi from an anonymous donor, Anna Maria appeared to be gaining momentum. Yet the school's fiscal year 2025 audit showed financial strain, forcing Anna Maria to implement new restrictions on administration of federal financial aid. Graduating seniors will walk at commencement on May 9, and the college will provide transfer pathways with partner institutions for students yet to complete their degrees. One of these partnerships is with Worcester State University, which said it will guarantee academic transfers to current Anna Maria students. e state school will offer Anna Maria students specialized academic advising, orientation, campus tours throughout the spring and summer. "Our focus is entirely on our students, ensuring every one of them has a clear pathway to complete their education and that the degrees earned here continue to open doors for the rest of their lives," Anna Maria College President Sean Ryan said in the announcement. Leader search "I've been working at NewVue a long time. I felt like I've accomplished a lot. I wanted to help the agency sort of focus on its real estate pipeline and change jobs up a little bit." Marc Dohan, current senior director of real estate develop- ment at Fitchburg-based community development corporation NewVue Communities, on his stepping down as executive director after 24 years as the nonprofit looks for a new leader. New Railers president "It's a privilege to step into this role and lead the Worcester Railers. I look forward to building on the momentum of the past season and continuing to elevate the fan experience." David Aitken, who took over as president of the Worcester Railers Hockey Club immediately after the end of the 2025-2026 season. Improving financial position "As I knew when I accepted the position as CEO, we needed a stronger, more flexible balance sheet to match the scale of the opportunity in front of us." Linh Austin, president and CEO of Ascend Elements, after the Westborough-based battery materials manufacturer voluntarily filed for Chapter 11 bankruptcy following construction delays at its Kentucky facility and growing global competition. Anna Maria College to close W PHOTO | GRANT WELKER Anna Maria College in Paxton "Our focus is entirely on our students, ensuring every one of them has a clear pathway to complete their education and that the degrees earned here continue to open doors for the rest of their lives." - Sean Ryan, Anna Maria College president