In case people are wondering why some of us were concerned that Paige Patterson was making a move to manage Southwestern Seminary’s $90Million endowment in house, I thought I would provide a little history lesson in the way that Patterson has managed institutional funds in the past. Keep in mind, please, that during this same time period at Southeastern, Patterson raised almost $300,000.00 to build a private living quarters on the back of the presidential home.
So I give you, dear readers, an official summary of SEBTS deficit spending under Paige Patterson’s stewardship:
And with this…I’m out for a while…
3 thoughts on “SWBTS endowment boondoggle…”
Wow! He is a better fundrasier then President Whipple @ Northworst Seminary.
And to think that people actually look up to him.
How in the world did SEBTS manage to boost their spending by 73% during 1997-99? Their student body went up less than 40%.
I was amazed to see that “restricted” money coming in as a gift got spent before it was posted to the right category. This wasn’t where PP’s mansion expansion money came from, was it? These folks belong in Congress.