As
most of you know, this is a tumultuous time in theological education.
This would be the case even if the global economic environment were robust
because, historically, small seminaries have been undercapitalized. That
fact, coupled with the economic downturn of 2008, has led dozens and dozens of
seminaries to focus on the necessary task of establishing financial
sustainability--this includes Meadville Lombard. Last spring, at the
conclusion of ML's Board meeting, Board Chair Lawrence Ladd outlined the
Board's plan to address our financial situation while remaining steadfast in
fulfilling our mission.
Briefly, the School has engaged Anthony Ruger, Auburn Theological Seminary
Senior Research Fellow, Institutional Resources, and Barbara Wheeler, President
of Auburn and the Director of the Center for the Study of Theological
Education, to assist as we assess the possibilities of entering into a partnership
with another seminary, investigate how our real estate holdings could be better
used to fulfill our mission, and project how the School could be resized to
function most effectively and efficiently. The Board announced that by
the end of 2009 it would determine a direction for the School--but it
will not make any final determinations at that time.
The
work is proceeding. This week the Board's Executive Team will meet with
Tony Ruger to hear the results of research that has been conducted about potential
partners. He will also provide the Team with financial data that will
allow them to assess the School's ability to remain a stand-alone
institution. The Board will continue the process of planning at the
November meeting. I have no doubt that a direction for the School will be
established before the end of December.
I am
sometimes tempted to hope that our financial vulnerability will pass as the
economy brightens. Then I remember the context under which the Board of
Trustees began the re-visioning work several months ago. The problems
that all mainstream seminaries are experiencing in theological education are no
longer tied to single historic events and contexts. Even as we celebrate
an increase in our stock portfolio, our donations, and our enrollment, and even
as our educational model receives praise from across the nation, the Board and
the administrative team recognize that the underlying problems facing small
institutions such as ours are not going to go away by themselves. We must
meet these issues head on in order to create a realistic financial future that
serves our mission and the people of our faith and this world.
We
will be in communication about the Board's plans as they become known.
Meadville
Lombard is a special community. With the larger purpose of forming new
ministries, we are able to retain a perspective and purpose that is larger than
any one of us. That is important in a time when new directions are being
planned. I am grateful for all who keep our School and its future in your
prayers and in your thoughts.
