LENOX, Mass. (AP) – The president and chief executive of the financially troubled estate of author Edith Wharton has stepped down.

The board of trustees at “The Mount” in Lenox said Sunday that they have accepted the resignation of Stephanie Copeland “with regret.”

Copeland oversaw a turnaround of the estate, which was in a dilapidated state when she took over in 1993. During her tenure, $13 million was invested in the buildings and grounds, the number of visitors tripled and revenues increased six-fold.

But the organization that runs the estate is trying to raise $3 million by April 24 to avoid foreclosure.

Wharton designed and built the house in 1902. She finished her breakthrough novel, “The House of Mirth” there, and got the inspiration for “Ethan Frome.”

AP-ES-03-30-08 1831EDT

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