Complex sentence: It was established in the fall of 1923 as Parsons Junior College, and was initially financed and operated as a part of the public school system of Parsons as a two-year extension program of the Senior High School.
Split into simpler sentences: It was established in the fall of 1923 as Parsons Junior College. The College was initially financed and operated as a part of the public school system of Parsons as a two-year extension program of the Senior High School.