SWBTS endowment boondoggle…

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:

SEBTS Financial Statement

And with this…I’m out for a while…

3 thoughts on “SWBTS endowment boondoggle…

  1. 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.

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