In 2007, LeMoyne-Owen had management and accreditation problems due to a lack of financial resources. The Southern Association of Colleges and Schools placed the college on probation for two years. In August 2007, the City of Memphis ensured the college would open for the fall 2007 semester by pledging $3 million in taxpayer funds to be added to other substantial pledges from the United Negro College Fund, Cummins, radio host Tom Joyner and the United Church of Christ. The donation pledge, approved by the City Council, aroused controversy. City councilmembers defended their actions as contributing to the city and its residents. The college's president Johnnie B. Watson said that the college has reaffirmed its accreditation. It had increased its endowment to 20 million dollars in 2014.