Ohio Dominican University, the small Catholic college east of downtown Columbus, missed a bond payment that was due March 1, adding to a string of budget headaches for the campus. The missed payment, disclosed by the bond trustee, underscores long running financial strain at the institution that enrolls roughly 1,200 students. For now, classes continue on a quiet campus, but trustees and bondholders face choices that could affect borrowing costs and capital plans.
Trustee Filing Shows March Payment Came Up Short
The trustee for the university’s bondholders, UMB Bank, disclosed in a regulatory filing that Ohio Dominican did not make the debt service payment due March 1. As reported by Bloomberg, the filing flagged the delinquency and kicked off conversations among creditors and the school.
Reserve Fund Already Raided To Keep Payments Flowing
Records show the trustee has tapped a debt service reserve to cover payments in the past year. Bloomberg Law reported in March 2025 that the trustee withdrew reserve funds to make a scheduled debt service payment, a move that signals limited liquidity.
Small Campus, Tight Margins
Ohio Dominican is a private Catholic university with a campus north of downtown Columbus and roughly 1,200 students, according to the school’s Ohio Dominican University site. The size and limited endowment of the institution mean tuition revenues and donor support are critical, and filings show the school has been grappling with multi-year deficits.
Legal Implications For Bonds And Borrowing…