Private school out of money

FORT WAYNE, Ind. (WANE) - The future of a Fort Wayne private school is very much in doubt. Monday night school officials met with parents for nearly three hours to talk about what's next.

The bottom line: Keystone Schools is running out of money. Teachers haven't even gotten a paycheck yet this year.

NewsChannel 15's Chris Hopper discovered the financial crisis is because parents can't pay the nearly $5,000 a year tuition and donations have dried up.

One teacher, who asked to remain anonymous, told NewsChannel 15 that  he's known about the crisis since November, but teachers were instructed not to tell parents.

Don Willis is the founder of Keystone Schools. He also provides half the budget. That same teacher said Willis is no longer providing that money.

According to that teacher, there are three options on the table: close the school immediately, close it in a few days, or ride it out until the end of the year.

A parent at Monday's meeting said Keystone is asking parents for additional funds. It needs $450,000 to make it through the year, but the school will have a $1.2 million dollar annual shortfall.

The parent said they should know what's going to happen to Keystone by Friday. The teacher who spoke with NewsChannel 15 said there is a person who is close to making a large donation that would keep the school open through the rest of the year. But that donation has to be given this week.

Keystone used to be Fort Wayne Christian school. It has about 180 students and 23 teachers.