Writing week . . .

trustee meeting

We are working on a major writing project this week. The commitment demands our full attention, unless something like the announcement of a presidential candidate for one of the SBC entities becomes likely.

In the interim, consider this:

Between 2016 and 2017, Southwestern Baptist Theological Seminary lost $2.2 million in investment value from “other foundations and 3rd party trusts,” more than $5.5 million in money market funds, and nearly $1 million in “other investments.” On the year ending  July 31, 2016, SWBTS reported more than $8 million in net unrealized losses on investments.

Also, SWBTS reported to the 2018 convention that the seminary has secured loans totaling $23 million using “deeds of trust on land and buildings” with a “net book value of $27,423,683.” The seminary restructured a $17 million loan in 2016 because it was unable to pay it off as promised, and the school is now currently only making interest payments on the loan.

So we’re left with a question: If SWBTS cannot repay the loan by 2021, is there any risk that the seminary’s “land and buildings” could be confiscated by creditors?

Stay tuned . . .