The president and Board of Trustees at Northland College voted Thursday to declare financial exigency after failing to raise enough funds to stay open. The small liberal arts institution in Wisconsin announced three weeks ago it was in such a dire financial state that it would be forced to shutter if it could not raise $12 million by April 3. Despite the college having raised only $1.5 million, the board delayed the decision to shutter its doors, saying it would give the institution two more weeks to explore program, staffing and budget adjustments before making a final decision about its future.