The heads of seminaries of the country's largest Lutheran denomination issued letters asking for continued support for their institutions despite the economic woes of recent months, the ELCA News Service reports.
The Lutheran Theological Seminary at Gettysburg is among eight seminaries of the Evangelical Lutheran Church in America (ELCA).
A Nov. 21 statement from the deans and presidents of the seminaries came after Wartburg Theological Seminary in Dubuque, Iowa, announced last month its decision to release some faculty and staff and restructure its programs because of the market's effect on its endowment.
The president there said other ELCA seminaries have taken similar actions to cut costs while still bolstering programs to meet rising enrollment. In response, the seminaries have stepped up fund-raising efforts, wanting to keep tuition low but faced with a decline in financial support from the church.
The Nov. 21 letter, issued by the Rev. Michael L. Cooper-White of the Gettysburg seminary who chairs the seminary presidents' meetings, said, "Recent economic downturns have affected fundraising and increased pressures on each school. ... As endowment value declines, there is less ability to rely on long-term income-generating sources."
"Seminaries that carry debt incurred in addressing major deferred maintenance and other capital projects are experiencing especially high stress levels as the economic recession deepens," the presidents wrote.
They committed themselves to "redouble efforts to be the best possible stewards of funds entrusted to us" through "strategic alliances with all willing partners," according to the ELCA News article.
In an Oct. 31 open letter to seminary faculty, staff and students, the seminary deans named a range of belt-tightening measures and said, "We want to find ways forward that do not jeopardize vital educational ministries at a time they are so greatly needed."
This fall, the Gettysburg seminary board adopted a budget of $5.85 million for the 2008-09 fiscal year with a draw on its endowment of 5.25 percent.
Leave a comment