Antioch College was insolvent the day it opened and faced financial difficulties from its first years. From 1857 to 1859, Antioch ran an annual deficit of $5,000 out of a total budget of $13,000. In 1858, Antioch was bankrupt. Mann died in 1859, and the college was reorganized, but deficits continued. Mann's successor, Thomas Hill, took Antioch's presidency on the condition that faculty salaries be paid despite deficits. Despite this stipulation, his salary was often not paid, and he supported his family with loans. Hill and a colleague attempted to raise an endowment, but potential donors were put off by the strong sectarian leanings of some of the college's trustees. Hill resigned in 1862 due to increasing financial troubles, sectarian conflict between Christian Connection and Unitarian trustees, and his election as president of Harvard. In 1862, the college was closed until finances improved and remained closed until after the end of the Civil War.