The board members of the University of the Arts

by Harold Brubaker and Peter Dobrin
Published June 5, 2024, 5:01 a.m. ET

What to know about the UArts closure

The University of the Arts announced abruptly on May 31 that it would close on June 7. Here's what to know:

• The school cited an "urgent" financial crisis, and said it would have taken $40 million to save UArts.
• UArts president Kerry Walk has resigned.
• More than 20 employees and 14 students have sued the school.
• Temple is exploring a merger to save UArts.
• The Philadelphia City Council has called for hearings into how the school collapsed so quickly.
• UArts’ sudden closure was a shock, but not a big surprise in the turbulent higher-ed landscape.
• Here’s a day-by-day look at what’s happened since UArts announced the closure.

When things are going well at a nonprofit, board members can sit in the shadow of the institution they are responsible for.

But in times of crisis, such as the imminent collapse of the University of the Arts, those seats get hot. Even more so when the president resigns amid the turmoil, as Kerry Walk did Tuesday.

That’s because board members have a duty to steward the institution and protect its charitable assets.

In UArts’ case, one board member said this week that she didn’t know what precipitated the school’s decision to close abruptly — despite a board vote last weekend to approve the closure.

The Pennsylvania Attorney General’s office, which oversees charitable assets, is on alert.

“We are very concerned by the sudden closure of University of the Arts, which has impacted students, staff, and the community,” the AG’s office said in a statement Tuesday. “We are reviewing the circumstances of the closure and any transfer or loss of assets.”

The UArts board is a mix of business executives (many retired), attorneys, investment managers, philanthropists, and alumni.

Here are the UArts board members listed on the university’s website:

Chair

Aaron is a 1981 graduate. He’s a former assistant U.S. attorney and retired white-collar defense attorney at Conrad O’Brien.

Vice chair

Effron is CEO of Healthcare Administrative Partners LLC, a company in Media that provides medical billing and other services to physician practices, hospitals, and radiology groups. Effron is chair of the National Liberty Museum board.

Secretary

Gast is a 1968 graduate. He is retired from Mangos, a Conshohocken advertising and branding firm that was sold in 2022.

Treasurer

Kardon is president and chief investment officer of Conservest Capital Advisors Inc., a Wynnewood investment management firm with $1.6 billion under management, according to CNBC.

Aristone is executive vice president and head of leasing at PREIT, a Philadelphia real estate investment trust that owns the Cherry Hill Mall and Willow Grove Park, among other properties. Aristone is on the board of Dakota Properties Inc., a Mount Holly nonprofit that supports Oaks Integrated Care Inc., a human services organization.

Citino is a certified public accountant and a shareholder at Jacob Cohen & Co. Citino is also chair of InLiquid, a visual arts nonprofit based in the Crane Arts building in Kensington.

Davis is described as an arts patron. She has also been on the board of Waverly Heights, a retirement community in Gladwyne.

A 1966 graduate, DeCherney is listed as president of National Design Service Inc.

Fowler, a graduate of the University of Connecticut School of Law, is president of the Museum for Art in Wood board and on the board of CraftNOW, a collaboration of Philadelphia organizations that promote crafts.

Gaylord is a managing director at the Accenture consulting firm with a specialty in supply chains.

Haas is a teacher and history department head at Devon Preparatory School, a private Catholic school in Devon that serves grades 6 to 12, and member of the Haas Philadelphia family behind the William Penn Foundation. Haas is also on the board of Habitat for Humanity Philadelphia.

Hamilton, a 2007 graduate, is a photographer. Hamilton is on the grants committee of the Hamilton Family Charitable Trust, which was founded by his grandmother, Dorrance “Dodo” Hill Hamilton, a longtime benefactor of UArts who died in 2017.

Kreitzberg, a former insurance executive, is founder and CEO of Designed Privacy, Beehive Cyber, and SeedPod Cyber, which provide cybersecurity services to businesses.

Lehr is a longtime partner at LLR Partners, a Philadelphia private equity firm. He also serves as treasurer of the Children’s Hospital of Philadelphia board.

Naples is a longtime Philadelphia-area business executive. He led Hunt Manufacturing Co. from 1976 to 1995 and Quaker Chemical Corp. from 1995 to 2008.

Nicoletti is a real estate agent with SERHANT, focused on luxury sales and development in Center City.

Reichlin is the retired chairman of Zuckerman Honickman Inc., a King of Prussia manufacturer of beverage packaging. He is a former chairman of Einstein Healthcare Network and a former trustee at the Jewish Federation of Greater Philadelphia.

Leaphart is vice president for local media development at Comcast Corp. She is also on the board of BreastCancer.org., a nonprofit that provides information on the disease.

Sypherd is managing director and general counsel at FS Investments, an alternative asset management firm in Philadelphia that oversees more than $78 billion.

Tewari is chief operating officer and managing director at Glenmede, an investment firm with $45 billion in assets under management. Tewari is also on the board of Heights Philadelphia, a nonprofit that works to provide higher education and career pathways for Philadelphia students.

Wagman is founder and chair of the American Theater Arts for Youth Inc. A longtime Philadelphia arts patron, she has also served on the boards of the Kimmel Center and Philadelphia Chamber Music Society.

Weiss is CEO of Hippographics Inc., an investment firm that specializes in graphics companies. She has served on the board of CeaseFirePA. Her master’s thesis was on accountability in the nonprofit sector.

Wong is president of CIG Asia Ltd., a Philadelphia insurance firm, and a principal at NavPac Advisors LLC, a consulting firm that helps companies expand in China and the United States. He’s also on the board of Williamson College of the Trades in Media.