Sanctions against Southwestern Baptist Theological Seminary will continue for at least one more year, the organization announced Friday.
The sanctions were first levied against the seminary by the Southern Association of Colleges and Schools Commission on Colleges in 2023 over financial irregularities. The seminary released a report that year detailing $140 million in overspending over 20 years, and the seminary said it was millions of dollars in debt.
The seminary has maintained its accreditations through the sanctions.
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Since then, the seminary has eliminated over $4 million in short-term debt and decreased its long-term debt from $15.8 million to $14.2 million, the organization said earlier this year.
In a statement Friday, the seminary pledged its continued cooperation with the SACSCOC to address lingering concerns. The statement said the commission noted improvements and several achievements in addressing noncompliance, and the commission reasonably assumes all deficiencies will be remedied within the next year.
A letter to the seminary noted SACSCOC wanted to ensure the changes made within the last few years are characteristic of the institution and the seminary does not fall back into old patterns.
David Dockery, seminary president, said in the statement the extension of sanctions should not be seen as a setback, but rather further motivation to continue the “good progress” made to this point.
“We respect the SACSCOC process and promise to work with them regarding next steps,” Dockery said in the statement.
Among the improvements noted in a letter to the seminary from Dockery were increased enrollment and credit hours, as well as an increase in revenue and a decrease in spending.
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Three years ago, the seminary’s president, Adam Greenway, stepped down amid questions regarding his spending habits, which included over $1 million in renovations to the presidential home. Greenway later sued the seminary for defamation, and the two parties settled with no financial compensation for Greenway.