Influential Episcopal Seminary No Longer Offering Degrees Amid Report of $7.9Mil Loss [ChristianPost

Influential Episcopal Seminary No Longer Offering Degrees Amid Report of $7.9 Million Loss in Net Assets

By Michael Gryboski, Christian Post Reporter
Nov 16, 2016 | 3:50 PM

An influential seminary affiliated with The Episcopal Church has announced that it will no longer issue degrees starting next year, and is reporting a net loss of $7.9 million in assets since last year.


(Photo: Episcopal Divinity School)
Episcopal Divinity School of Cambridge, Massachusetts.


The Episcopal Divinity School of Cambridge, Massachusetts, announced in July that they will stop granting degrees at the end of the 2016-2017 academic year.

Last week, the divinity school sent out an update to supporters and members of its campus community wherein they noted that the net assets of the seminary had declined rapidly over the past couple of years.

"At our meeting, we also accepted the 2016 audit report which contained the sobering news that EDS's net assets decreased by $7.9 million (11 percent) in the last fiscal year. This follows a decrease of nearly $6.5 million (8.5 percent) in 2015," noted the announcement.

"As the fiduciary stewards of EDS's assets and mission, we are obviously dismayed at the size of EDS's losses, but the news has redoubled our commitment to finding a more sustainable and prudent future for the seminary by the end of fiscal year 2017."

Signed by EDS Board of Trustees Chair the Rev. Gary Hall and Vice Chair Canon Bonnie Anderson, the message also noted that they were working on how to help the 23 students who will not be able to complete their degrees by next May complete their education.


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