I recently responded to some often asked questions from our alums regarding McCormick’s financial status. You can see my full responses on McCormick’s CURE blog.
In short, we are not in financial distress. We have in the past and are currently seeking ways to be more financially healthy for the future–no small task in these uncertain economic times. Our model throughout most of the 20th C. was similar to seminaries across the country. We were: 1) primarily residential; 2) focused on the 3-year M.Div. degree; 3) producing professionalized clergy as the primary form of leadership for the Church; and 4) driven by a financial model that emphasized our very healthy endowment. One should be able to see that a lot has changed. How quickly and nimbly we migrate our model to address the realities of the church and higher education will be directly related to our “health” going forward. No one wants to be left behind in this rapidly changing world. Ask Borders.
Do we have challenges in front of us? Absolutely! All of theological education and higher education, in general, is in an unprecedented era of change an uncertainty. At McCormick, we are fortunate to have both enough resources to pivot and a window of time in which we can execute this pivot (or series of pivots). Personally, I look forward to trying some exciting, new things.
I am assured and energized by these two thoughts: 1) how much fun is it to be in a time where innovation is a necessity not a luxury?; and 2) in the end, our future is not dependent on our creativity or ingenuity — God is the author and finisher of our faith.