RICHMOND, Va. — Faced with "worrisome" financial challenges, Baptist Theological Seminary at Richmond (BTSR) will downsize its faculty and staff, the school’s president announced April 8.
Four full-time professors and at least three administrative staff members will be let go in an effort to reduce costs, according to BTSR President Ron Crawford. Though he did not release the names of the professors to be dismissed, Crawford said he has communicated with each one and that the school is offering severance packages that exceed a full year’s salary and full personnel benefits.
The 19-year old seminary is burdened with a $6 million debt and faces a significant deficit in its budget this year — about $450,000 out of an overall budget of $3.6 million, Crawford said in a statement distributed to the school’s alumni and supporters.
BTSR, which enrolls about 160 students, currently employs about 14 full-time professors and about 18 administrative staff, including the president and dean of the faculty. About 14 visiting and adjunct faculty members also teach classes.
Share with others: