every spring by Army Command, and known as "GI Weekend". The enrollment at Staunton peaked during the 1966-67 school year, reaching a historic high of 665 cadets. By 1972, enrollment fell to about 250, climbing back into the 300s the following year, then entering a final decline to under 200 by 1976. Accordingly, the academy's finances began to decline. Its last profitable school year was 1969-70, which ended with a net of $69,000 for the Kable family. The next year, 1970–71, the owners experienced a loss of $98,000, followed by a deficit of $132,000 a year later. Faced with the prospect of bankruptcy, the Kables elected to sell the academy. The new owner, Layne Leoffler, changed SMA's charter to non-profit status when he took over the school in 1973. The following year, Loeffler undertook cost-cutting measures, including a reduction in athletic scholarships and the closing of North Barracks. He also fully integrated the school admitting the first Black students in the fall of 1973. However, his introduction of aggressive religious practices, peculiar staff and management changes, and reactions to accidental fires in South Barracks and Kable Hall proved too much. The deteriorating situation, combined with management problems, forced the academy to close in 1976. Mary Baldwin University, then a women's college and SMA's longtime neighbor, bought the property for $1.1 million in a bankruptcy sale. Staunton Military Academy today Today, eight of the buildings in which SMA cadets lived and learned survive as part of the Mary Baldwin campus. The SMA Mess Hall sign still hangs over the entrance to the building, now the university's Student Activities Center. The military legacy of the academy's grounds continues through the Virginia Women's Institute for Leadership (VWIL) at Mary Baldwin, the only all-women's corps of cadets in the world. In 2001, a joint SMA-VWIL museum opened in the academy's former supply room at 227 Kable Street in Staunton. Additionally, the alumni association has endowed four scholarships to keep the school's legacy alive: SMA Leadership Scholarship, Henry Scholarship Honoring SMA, Henry SMA Legacy Scholarship for VWIL cadets, and SMA-John Deal Education Scholarship for a Florida State University student. In April of each year an SMA all-class reunion is held in Staunton. Events include an "Old Boys" parade on Friday afternoon in conjunction with VWIL on the former SMA parade field and a banquet on Saturday night. Academy buildings and campus The SMA campus covered