SHAWNEE, Kan. (ABP) — Directors of Central Baptist Theological Seminary have signed off on an $8 million capital campaign to upgrade the school's new campus and build its endowment.
Meeting Nov. 13-14, Central's board of directors gave official approval to a campaign titled "Cultivating Excellence" and a site plan for 10 acres of property in Shawnee, Kan., purchased by the seminary in July 2006.
Central Seminary directors approved this site plan at a meeting Nov. 13-14.
|
The seminary sold its previous 84-year-old campus in 2005 to reduce maintenance costs that were eating into endowment funds. That year also saw a workforce reduction in faculty and staff prompted by longstanding financial concerns.
The board lifted its declaration of financial exigency in November 2007. At their November meeting this year, board members indicated that they glimpsed brighter days ahead for the seminary.
"This is the most exciting new horizon at Central that I have experienced," board chairperson Phil Love said. "We sensed God's presence as we identified shared values for the design planning process. Now, we are moving forward prayerfully as we seek to match the development of the campus to the seminary's mission."
A recent property analysis estimated that the value of the seminary's property had increased 35 percent in a little more than two years, from $3.1 million to $4.2 million. The site offers opportunities for future development, both for the seminary and economic and commercial development, further brightening prospects for long-term asset growth.
In July Central received its largest gift in history — $2.2 million from a St. Louis area church that disbanded and sold its property to a developer and desired to donate a portion of the proceeds toward the preparation of ministers through Central Seminary.
About half of the goal of the capital campaign — $4.1 million — has already been donated or pledged.
The fund-raising campaign focuses on three areas. The first is renovation of the current building to upgrade classroom space and offices and to create a state-of-the-art theological library with resources related to congregational health and an area focused on global Christianity.
The second includes a new stand-alone chapel to be used for worship both by the seminary community and a new church plant, The Journey Church, which meets on campus. Wallace Smith, former associate minister at First Baptist Church in Indianapolis for more than 10 years, moved with his family to Shawnee earlier this year to start the church, which is supported by both American Baptist Churches of the Central Region and the Cooperative Baptist Fellowship.
Finally, the campaign seeks to build the seminary's endowment.
"We sense the presence and leadership of the Spirit of God as we move towards these new horizons," said Molly Marshall, who took over as president of Central Seminary Jan. 1, 2005. "The board recognizes the renewal Central is experiencing and commended faculty, staff and students for their investment of commitment and energy."
Along with its main campus in the Kansas City area, Central also has centers in Milwaukee and in Murfreesboro, Tenn.
Founded in 1901, the seminary is affiliated with the American Baptist Churches, U.S.A., and the Cooperative Baptist Fellowship.
-30-
Bob Allen is senior writer for Associated Baptist Press