Southwestern Baptist Theological Seminary in Fort Worth had its sanctions and “warning” status removed after more than three years, according to a Thursday statement from the seminary.
The news comes after the Southern Association of Colleges and Schools Commission on Colleges conducted a successful April site visit to the seminary and recommended removing the sanctions, which were initially established in June 2023 with a “warning” status, the statement said.
“Southwestern Seminary is no longer on probation for good cause but is in full adherence with SACSCOC accreditation standards,” seminary president David S. Dockery said in the statement. “We are genuinely grateful to God to receive this good and encouraging report that all sanctions have been removed, which is an answer to the prayers of many.”
Sanctions were put in place following a July 31, 2022, financial audit, which revealed “deep financial vulnerabilities” that threatened the seminary’s stability, Dockery said.
The seminary released a report in 2023 detailing $140 million in overspending over 20 years, and said it was millions of dollars in debt.
SACSCOC recommended multiple things to improve the seminary’s financial status, including increasing operating revenue overall, decreasing personnel expenses, finding additional revenue streams, and selling property.
Dockery said cash reserves and cash equivalents now total about 50% of the annual budget. The Composite Financial Index moved from an at-risk calculation of less than -0.6 in 2022 to a strong score of 4.1 at the conclusion of the 2025 year, with an enhanced score expected for 2026.
The prioritization of institutional stewardship and financial oversight were key aspects in changing the seminary’s status, Dockery said.