Southwestern Baptist Theological Seminary President David Dockery celebrated the seminary’s improving finances during his remarks to seminary trustees April 15, saying the seminary is moving from “financial stability … toward financial health.”
In light of these improvements, Dockery said Psalm 126:3 will be the seminary’s theme verse for the next academic year: “The Lord has done great things for us, and we are filled with joy.”
Dockery reported the seminary has met tuition expectations for a sixth straight semester, in part through strong enrollment numbers, with a fall headcount of 2,921 students during the 2024-2025 academic year, compared to a fall headcount of 2,670 in 2021-2022. Full-time equivalent numbers were 1,487 and 1,375, respectively.
Additionally, the seminary has received $3.1 million in unrestricted giving this year, exceeding its goal for the entire academic year. Dockery reported a projected $1 million surplus by the end of this fiscal year, a marked difference from finishing the year $9 million in debt a few years ago.
Outside metrics from the Department of Education and Frost Bank also were reported to indicate the seminary’s financial health.
The visiting team of Southern Association of Colleges and Schools Commission on Colleges, the seminary’s accrediting agency, took those outside metrics into consideration for their recent recommendation to remove sanctions to be voted on by the SACSCOC board of directors in June.
Budget and expenditures approved
During their April 14-15 meeting, seminary trustees approved a 2027 budget of $36.1 million, a decrease in $1.45 million from the previous year. The lower budget was attributed to decreasing operational expenses and revenues resulting from the sale of the Williams Student Village property.
Trustees approved $1.2 million in capital projects, using board-directed cash reserves from a portion of the proceeds of the Student Village sale. The capital projects include a facilities condition assessment, upgrades to the Recreation and Aerobics Center, installation of electronic access to Fort Worth Hall, classroom technology upgrades, and Truett Auditorium audio/visual upgrades.
Faculty and graduate approvals
Trustees also approved the election of faculty members for Texas Baptist College: Coleman Ford, assistant professor of humanities; Andrew Jennings, assistant professor of philosophy of religion and apologetics; and Blake McKinney, assistant professor of history and humanities.
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Faculty members Ashley Allen, Adam Dodd, and Coleman Ford were promoted to associate professor, effective Aug. 1, 2026.
The renewal of presidential appointees Felix Cabrera, Trey Moss, and Chandler Snyder was also approved for another three-year term.
Trustees also approved the election of Terri Stovall, dean of women and professor of educational ministries, to the new Ina Crosby Parnell Dean of Women Endowed Chair.
Additionally, Dockery announced R. Allen Lott’s retirement after 40 years of teaching, and his new role as senior research professor in the School of Church Music and Worship.
Trustees also approved the spring 2026 graduating class.
Outgoing trustees are Danny Roberts, Jonathan Richard, Matthew Kirkland, and Larry Johnson. Chair Bob Brown, Vice Chair Tom Williams, and Secretary Angela Duncan were reelected to their respective positions.
This report is adapted from the original written by Michelle Workman and available here. The enrollment numbers were provided separately upon request.
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