Leaders rightly focus considerable energy upon the financial stability of their institutions. According to a 2013 survey conducted by The Chronicle of Higher Education and Maguire Associates, fundraising and balancing budgets occupy the greatest amount of time in the daily schedules of University Presidents in North America. For many leaders of theological schools, keeping their institutions financially afloat requires significant effort as well.
In the following essays, three leaders reflect on the economics of theological education. First, ScholarLeaders President Larry Smith describes the fiscal reality and proposes four considerations for administrators. Two leaders then respond to his analysis with reflections from their own contexts. Dr. Marcos de Almeida from Brazil discusses the delicate balance and awareness of economic variables required in financial leadership. Dr. Desta Heliso shares from the experience of the Ethiopian Graduate School of Theology in developing a third stream of revenue beyond student tuition or outside donations.
The dialogue begun in these articles will continue in the Conversations section of the InSights Journal website.
Selingo, Jeffery. What Presidents Think: A 2013 Survey of Four-Year College Presidents. Washington D.C.: The Chronicle of Higher Education, 2013.