Thursday, November 17, 2016

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

From Christian Post-

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.

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.

More here-

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