EDITOR’S NOTE: This story has been updated.
FORT WORTH – Southwestern Baptist Theological Seminary Board of Trustees received reports during its April 14-15 meetings about the provision of God for the institution in recent years as positive markers show how far the seminary has come in recent years.
“For the last 18 months, I’ve been saying we’re moving toward financial stability,” President David S. Dockery said in his April 15 report to trustees. “I’m here this morning to celebrate, by the grace of God, we are moving toward financial health.”
Dockery pointed out that the theme verses for each academic year have reflected the state of the seminary and the responding prayers, leading up to this year’s theme verse of Matthew 6:33 and seeking first the Lord’s Kingdom. For the coming academic year, as a result of recent good news and God’s favor, Dockery said the theme verse will be Psalm 126:3, proclaiming, “The Lord has done great things for us, and we are filled with joy.”
“We are grateful to God for what He has done here in this place,” Dockery said. “We are trusting Him together for the future, for His ongoing enablement, and for God’s grace for us each and every day.”
Dockery compared enrollment data from the 2021-2022 and 2024-2025 academic years demonstrating enrollment growth in fall headcount (2,670 to 2,912) fall credit hours (14,743 to 16,024), non-duplicating headcount (3,403 to 3,656), annual credit hours taught (33,253 to 36,824), and full-time equivalent (1,375 to 1,487).
For a sixth straight semester, Dockery said the seminary met tuition expectations as enrollment numbers remain strong, and as of April, the seminary has already received $3.1 million in unrestricted giving, surpassing its goal for the entire academic year. Projections indicate Southwestern will finish the year with a $1 million surplus, a significant difference from a few years ago when the institution ended the year about $9 million in debt, he said.
Other markers as evaluated by outside entities have also been encouraging, Dockery said, noting strong metrics of the Department of Education Financial Index (3.0), the Composite Financial Index (4.1), and the Frost Bank Covenant Ratio (2.14), indicating the financial health of the institution.
These measurements were part of the consideration of the recent Southern Association of Colleges and Schools Commission on Colleges visiting team that reported they will recommend that all sanctions be lifted from Southwestern.
“It was a very positive report that we received, both orally and now in writing,” Dockery said of the recent SACSCOC visitors. “It will go to the board of directors of SACSCOC in June. So, this will not be official until that board votes. We can’t quite celebrate yet, but we can give thanks to God for what is a giant step forward.”
Board Chairman Bob Brown reflected on the difficult trials of recent years during his report, saying they can be grateful for all God has done even through that time.
“The trials that we as an institution have endured these last few years have indeed been challenging,” Brown said. “None of us would have chosen to experience them at the time, and none of us would want to go through them again. Yet this testing of the corporate faith of Southwestern, indeed of all Southwesterners, has produced an endurance that we now pray and hope brings a maturity and completeness to follow.”
But while giving God thanks for bringing Southwestern through that trial, expressing gratitude to the leadership and staff, Brown said the next challenge is to continue in their responsibilities and finish the work that was started at Southwestern 118 years ago.
“Our focus has rightfully been trained on this testing of our faith, producing endurance,” Brown said. “But now it is time to turn to allowing this endurance to have its full effect, so that we may be mature and complete, lacking nothing for the course ahead.”
Brown said his prayer is that Southwestern’s coming years will be blessed beyond what has been experienced before.
“These are indeed great days at Southwestern Baptist Theological Seminary, and we have just started,” Brown said. “Thanks be to God for the great things He has done.”
During their meetings, Board committees examined the Advanced Southwestern 2030 plan, approved by trustees in 2023, and received reports that nearly 30 percent of the priorities and goals already have been completed, the status of ongoing projects, and suggested revisions. Based on recommendations from each of its standing committees, trustees approved revisions to the plan that provides goals and priorities across the institution.
The Board also approved the 2027 fiscal year budget of $36.1 million, a decrease in $1.45 million from the previous year, 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.
The Board 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. Faculty members Ashley Allen, Adam Dodd, and Coleman Ford were promoted to the rank of 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.
The Board recognized and expressed gratitude to outgoing trustees Danny Roberts, Jonathan Richard, Matthew Kirkland, and Larry Johnson. Chairman Bob Brown, Vice Chairman Tom Williams, and Secretary Angela Duncan were all reelected to their officer positions.
Trustees participated in a Day of Prayer special chapel service on April 14, underscoring Southwestern’s commitment to being a “seminary of the bowed head,” as emphasized by Dockery.
Related posts:
Bradford appointed dean of Texas Baptist College 
Seminarians’ prayer & witness bring 60 neighbors to Christ 
SWBTS to vote on presidential nominee Feb. 26-27 
YEAR IN REVIEW: Southwestern celebrates with gratitude God’s blessings in 2024 
SWBTS trustees receive reports of financial stability and enrollment gains, affirm revised M.Div. 
TRUSTEES: God is doing ‘fresh, marvelous’ work on Seminary Hill, Greenway says 
Southwestern Seminary community sees answers to prayer during 2023 
FIRST-PERSON: James Leo Garrett Jr.: A tribute
