Southwestern Baptist Theological Seminary is no longer on probation.
Southwestern Seminary campus (Photo via Baptist News Global) / Insert of David Dockery
Seminary President David S. Dockery announced last Thursday that Southwestern “is now in full compliance with all accreditation expectations” of the Southern Association of Colleges and Schools Commission on Colleges, known as SACSCOC — and that all sanctions imposed in June 2023 have been lifted.
The announcement followed an April site visit by the SACSCOC board. Dockery said the seminary “is no longer on probation for good cause but is in full adherence with SACSCOC accreditation standards.”
Dockery cited six “markers of institutional stability” the seminary achieved on its path back to compliance: an institutional culture embracing its mission, identity, heritage and core values; increases in enrollment, credit hours taught and tuition revenue; decreased expenses and increased unrestricted revenue resulting in a $10 million turnaround; a $40 million improvement in net assets; cash reserves and equivalents totaling 50% of the annual budget; and measurable improvements in the institution’s Composite Financial Index, Composite Score Ratio and bank covenant ratios.
A Rough Road to Recovery
Southwestern’s troubles began in 2018, when former President Paige Patterson was fired for mishandling a sexual abuse allegation made by a female student. His successor, Adam Greenway, resigned in 2022, saying he was unprepared for the “reputational, legal and financial realities” facing the seminary — challenges compounded by the COVID-19 pandemic.
A subsequent task force investigation found that Greenway had used more than $1.5 million in school funds on renovations, furnishings and other home-related expenses in ways that “did not reflect proper stewardship of seminary resources.” The spending came at the tail end of a roughly 20-year span in which expenses exceeded revenue by more than $140 million.
By the time Dockery arrived, the situation was dire. “In September of 2022 we had $4.2 million of short-term debt with the credit line maxed out, and wondering if we were going to be able to navigate our way even through that particular academic year,” he told Religion News Service.
Access to MinistryWatch content is free. However, we hope you will support our work with your prayers and financial gifts. To make a donation, click here.
A Turnaround Built on Stewardship and Culture
Since 2023, Southwestern has worked through each element of SACSCOC’s guidance — increasing revenue, cutting expenses, developing new revenue streams and selling property.
But Dockery’s mission was never only financial. He also set out to rebuild campus culture, instituting weekly prayer meetings, establishing core values and holding open meetings with faculty and staff to foster a “grace-filled” environment built on trust and transparency.
Dockery acknowledged the “SACSCOC sanctions were challenging,” but said the past 45 months proved worthwhile. “We are deeply grateful for the changes in institutional culture, in the Board’s careful oversight of the institution, and for the markers of progress that have been made.”
Southwestern remains one of the largest and best-resourced seminaries among the 280 institutions accredited by the Association of Theological Schools.
“We are genuinely grateful to God to receive this good and encouraging report that all sanctions have been removed,” Dockery said, “which is an answer to the prayers of many.”
TO OUR READERS: The mission of MinistryWatch is to help Christian donors become more faithful stewards of the resources God has entrusted to them. Do you know of a story that will help us fulfill our mission, or do you want to give us feedback about this or any other story? If so, please email us at info@ministrywatch.com.