Seminaries Face Financial Woes

"Sagging endowments and other shrinking revenue streams are challenging the status quo at the nation's seminaries, most of which aren't cushioned by a link to an endowed university. Among the 175 'free-standing' institutions in the Association of Theological Schools, 39% were 'financially stressed,' with less than a year's worth of spendable assets, a fall 2008 report says. That's up from 26% a year earlier, and the data don't reflect fallout from the stock market crash in the fall."