AG Nessel Probing Alleged Misuse of Endowment Funds at Michigan College

The Michigan Attorney General’s Office is investigating a complaint that alleges Albion College is violating state law over its use of its endowments to cover budget deficits. The allegations, detailed last year in an April 11 letter to Attorney General Dana Nessel and her office, allege the private college is illegally overdrawing from its endowment fund and using donor gifts to cover budget shortfalls. Albion College officials have denied the allegations, stating that COVID-19 pandemic-related budget deficits were covered using unrestricted pots of the endowments.