All sanctions against Southwestern Baptist Theological Seminary have been lifted by the Southern Association of Colleges and Schools Commission on Colleges.
Seminary President David Dockery announced the action June 11, ending a difficult saga in the history of what once was the world’s largest theological seminary. Southwestern is one of six seminaries owned by the Southern Baptist Convention.
The sanctions arose after previous administrations ran multi-million-dollar deficits that put the seminary on the brink of insolvency. Among those challenges: In 2022, the seminary booked an $8.9 million operating loss and a $15.3 million decrease in net assets. That was part of a larger trend, however: Southwestern had a cumulative two-decade deficit of $140 million.
In less than four years as president, Dockery has led the school to rebound financially and stem the flood of enrollment losses that happened during the two previous administrations.
“The seminary has, however, chosen not to look back, but to move forward with a renewed commitment to institutional stewardship,” Dockery said.
Related:
How Southwestern Seminary is bouncing back from financial catastrophe | Analysis by Mark Wingfield