RICHMOND, Va. — A Virginia Baptist couple has made a commitment of $1 million to Baptist Theological Seminary at Richmond (BTSR) to help retire the debt on the seminary’s main campus building.
Concerned about the $2 million debt on the building that BTSR purchased in 1997, the donors, who wish to remain anonymous, have agreed to retire one half of the amount, with the hope that the gift will encourage others to provide the remaining $1 million needed. The gift will be received within the next six months.
“Until we have cleared the indebtedness on what we already have, we are hindered from moving on with our plans for expansion,” said seminary President Tom Graves. “These friends have clearly seen our problem and have made an extraordinary move toward its solution.”
Over the past five years, the Virginia seminary has purchased three buildings from Union Theological Seminary and Presbyterian School of Christian Education for use by the Baptist seminary. The first building purchased has been completely renovated for classroom and office space, as well as a dormitory.
Two other buildings, one containing additional classrooms and the seminary chapel, the other a dormitory, will be renovated as funds become available.
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