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News Release: For Immediate Release

Seminary To Do More With Less In The Face Of Continued Financial Challenges

SALT LAKE CITY, November 30, 2006 - Faced with ongoing financial challenges, the Board of Trustees of Salt Lake Theological Seminary has determined that a substantial restructuring must take place for the school to continue its mission of training leaders for the Christian community in the Intermountain West. This restructuring involves cutbacks in expenses and changes in administration.

In the current context, President Donald McCullough has made the difficult decision to tender his resignation, which was accepted by the board with deep regret. “We are grateful to Don for accepting God’s call to lead the seminary for the past two years and helping us navigate the school through some very difficult times,” Board Chair Dr. Jeffrey Silliman affirmed. “He has helped us take monumental steps towards accreditation, and we have been blessed by his faith, experience, and hard work.”

The Board of Trustees will implement a search for Dr. McCullough’s replacement. In the interim, Dr. Bill Heersink will assume the role of president in addition to his other responsibilities. “Bill is a well known and respected figure in the local community. For over 30 years, he served a Utah congregation as its pastor. For the past eight years, he has served on the faculty as Professor of Theological and Mission Studies and Director of Field Education,” Silliman said. “Bill is well respected in denominational, evangelical, and LDS circles as a bridge builder, modeling in his life and ministry servant leadership and respectful dialogue. The board affirms him as the ideal leader for the seminary community – students, staff, and faculty – during this time of transition.”
The goal of the restructuring is an immediate reduction in expenses to bring them in line with current income levels. Several cost cutting measures are being implemented, including reduction in salaries, consolidation of positions, and maximizing the income potential from the seminary campus building. “Faculty and staff who are already working at a sacrificial rate of pay have come together determined to take even lower pay for the sake of the school,” said Silliman. “We will consider all options as far as the building is concerned, including reducing the current space occupied by administration to make more offices available for rental, or even the sale of the building and leasing back the space needed for the school.”

Like most seminaries in North America, Salt Lake Theological Seminary receives less than 20% of its income from student tuition and fees. The rest of the operating budget comes from charitable donations from individuals, organizations, and foundations. In recent years, the school has experienced significant growth in programs, facilities, and staff to service the needs of a growing student body for theological education in Utah. At the same time, expenses have outpaced the seminary’s ability to increase revenues. For several months, the school has been operating with a monthly deficit.

Several members of the seminary’s Board of Trustees are working as volunteers to assist the school by increasing their commitment and involvement in planning and executing the restructuring plan. “The assistance of board members is crucial at a time when the seminary does not have a full-time president,” Silliman explains. “We are fortunate to have individuals experienced in academic administration, finance, ministry, and other crucial areas to help the leadership of the seminary at this time.”

Salt Lake Theological Seminary is the only graduate school of theology in the Intermountain West. The board affirms the seminary’s mission of training leaders for the Christian communities in the region and is committed to the goal of the seminary’s achieving full accreditation with the Association of Theological Schools. In addition to implementing necessary cost cutting measures, the seminary continues to pursue fundraising activities vigorously and welcomes the prayers and financial support of the community at large.

About Salt Lake Theological Seminary

Salt Lake Theological Seminary is an inter-denominational graduate school of biblical and theological studies, engaged in the training and development of Christian leaders. The seminary offers Masters and Doctoral degrees for professionals preparing for ministry or already actively engaged in ministry work, as well as various Diploma and Certificate programs for students studying at the non-graduate level or for personal enrichment. Classes, courses, seminars, workshops and conferences are also offered to meet the needs of the broader Christian community. More information can be found on this web site.

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For more information contact:
David Pascoe
Vice-President for Advancement
Salt Lake Theological Seminary
dpascoe@slts.edu
Phone: (801) 581-1900

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