Private company

Lees–McRae College

Private college in Banner Elk, North Carolina, US

Lees–McRae College is a private college in Banner Elk, North Carolina, United States, affiliated with the Presbyterian Church (USA). Lees–McRae College sits in the Appalachian Mountains at 3,720 feet (1,130 m) above sea level, the highest elevation of any American college or university east of the Mississippi River. It is one of the few colleges to be named after two women, Suzanna Lees and Elizabeth McRae.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1900Founded1
  • Industryhigher education1
  • HeadquartersBanner Elk, United States1
  • Websitewww.lmc.edu
  • Legal formINCORPORATED3
  • LEI549300BLI9OY43E6TS863
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered addressC/O R. Andrew Harris, 27265 High Point, United States3
  • Registered withCorporations Division (Department of the Secretary of State), 00845383
North Carolina Building
Photo: Connormg, CC BY-SA 3.0, via Wikimedia Commons5

Lees–McRae College is a private college in Banner Elk, North Carolina, United States, affiliated with the Presbyterian Church (USA). Lees–McRae College sits in the Appalachian Mountains at 3,720 feet (1,130 m) above sea level, the highest elevation of any American college or university east of the Mississippi River. It is one of the few colleges to be named after two women, Suzanna Lees and Elizabeth McRae.2

The story

Lees–McRae College was founded in Banner Elk as an all-female high school in 1899 by the Reverend Edgar Tufts, a Presbyterian minister. He named the school "The Elizabeth McRae Institute" after a well-respected educator in 1900. The name of school benefactor Suzanna Lees was added in 1903, and the school became "The Lees–McRae Institute" when it was chartered by the state in 1907.

An all-male branch was founded in 1907 in nearby Plumtree, North Carolina. The Plumtree facility was destroyed in a 1927 fire, leading the two campuses to merge at the Banner Elk site. After the merger, the high school program was phased out, and in 1931 the institute was renamed "Lees–McRae College" as an accredited, coeducational junior college.

Lees–McRae began moving toward offering a four-year program in the late 1980s, and the school's president made the recommendation to the board of trustees in 1987. The Southern Association of Colleges and Schools granted Lees–McRae status as a four-year college in 1990. In 2005, Lees–McRae became the first expansion site for New Opportunity School for Women, a program that helps educate and employ women in Appalachia.

From Wikipedia’s article on Lees–McRae College, shared under CC BY-SA 4.0.4

Timeline

  1. 1900Founded Founded1

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.8M 2020–2020
Money received by yearMoney received by year, 2020–2020: $1.8M in all. PPP loans $1.8M.$0$500K$1M$1.5M$2M2020 · PPP loans: $1.8M2020
Figures by year
YearPPP loansTotal
2020$1.8M$1.8M

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA6. Matched to this company by name and state.

  1. Apr 9, 2020$1.8M PPP loan (first draw) from Truist Bank6To LEES MCRAE COLLEGE INC, Banner Elk NC; $1.8M forgiven Mar 2, 2021