Southwestern Baptist Theological Seminary in Fort Worth, Texas, has been placed on a 12-month probation but will continue to be accredited by the Southern Association of Colleges and Schools Commission on Colleges over the next year as it rebounds from a financial crisis.
Last week, the SACSCOC announced that the Southern Baptist Convention-affiliated SWBTS had been placed on probation on June 12 and must show a “pattern of financial stability” as it has made strides in recent years to improve its financial situation.
Specifically, the seminary has been placed on “Probation for Good Cause,” the second worst public sanction that can be given to an academic institution, with loss of accreditation being the worst.
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The probation will last until June 2026, during which time a monitoring report will be submitted and the SACSCOC Board of Trustees will determine the accreditation status of the seminary.
Possible decisions by the trustees’ board next year include removing the seminary from probation, continuing accreditation, extending the good cause probation with another monitoring report, or removing the seminary from SACSCOC for failing to comply with accreditation standards.
In a letter dated Friday, SWBTS President David S. Dockery acknowledged that the seminary did not meet the expectations for “financial resources” and “financial responsibility” during the 2022-2023 academic year. However, he said the “institution has now moved to a very different place than was the case in 2022.”
“Actually, Southwestern’s financial position, particularly related to operational budget matters, was measurably stronger in the spring of 2025 than was the case in the spring of 2021 when the institution’s accreditation was reaffirmed,” Dockery said. “Southwestern, by God’s grace, has reached an important level of financial stability, but the Seminary still needs to establish what SACSCOC refers to as ‘a pattern of financial stability.’ Our efforts will now be focused on ongoing stability as well as additional improvements.”
Dockery said that despite the sanction, “all programs at Southwestern Baptist Theological Seminary remain fully accredited.”
“We respect the SACSCOC process and promise to work with them regarding next steps to ensure that the Seminary can be moved to good standing in June 2026,” Dockery said.
“I want to invite you to join with me in asking the Lord for his ongoing help as we recommit ourselves to the good work that has been started.”
Bob Brown, chairman of the SWBTS Board of Trustees, said in a statement that he was “extremely optimistic about Southwestern’s future” despite the disappointment over being on probation.
“With our enrollment continuing to rise and our financial position measurably stronger, there are sound reasons to be positive about the future of SWBTS,” said Brown.
“However, my optimism is primarily driven by the work of the Holy Spirit on Seminary Hill with hope and unity sweeping the campus in tangibly observable ways every day.”
In September 2022, Adam Greenway resigned as president of SWBTS, having served in that role since February 2019. The terms of his resignation were finalized in February 2023.
In June 2023, the Southwestern Seminary Board of Trustees Task Force issued a “summary of findings” on an investigation into presidential expenditures, alleging that Greenway oversaw “improper expenses” that did not reflect “proper stewardship of seminary resources.”
The allegations led to legal action by Greenway, accusing the seminary leadership of defamation. The two sides reached a settlement last September in which no monetary compensation was offered.
Around the time the task force released its report, the SACSCOC Board of Trustees issued a warning regarding the seminary’s financial stability and overall governance.
As a result of the warning, a less critical label than a probation, the seminary was subjected to monitoring by the accreditation entity from June 2023 until June 2024.
In June 2024, SACSCOC kept the seminary under the warning status. The seminary noted that the accreditation entity no longer expressed concern about the “fiduciary responsibility of the board of trustees,” while maintaining concern over “financial resources” and “institutional financial responsibility.”
During an October 2024 board of trustees meeting, Dockery noted an improvement in the seminary’s situation, saying the seminary went “from instability to stability, from a time of crisis and challenge to a time of hopefulness.”
Since 2022, Dockery said there had been increases in total tuition, operating revenue and gifts. Meanwhile, operation expenses were lowered and short-term debt was eliminated.
SWBTS had $1.7 million in cash reserves and a short-term debt of $4.2 million in 2022, Dockery said, comparing it with the over $12 million cash on hand and no short-term debt the school had in 2024.
“The SACSCOC decision does not in any way change or detract from the very real progress that has taken place since the fall of 2022,” Dockery said in his letter Friday. “We will accept responsibility for seeking to address the concerns raised by SACSCOC, recognizing that Southwestern has been continued in accreditation for Good Cause and placed on Probation for twelve months.”
