19 Jun Southeastern Bible College Suspends Operations
BIRMINGHAM, Ala. (June 1, 2017) – Southeastern Bible College (SEBC), a higher-education community that connects students who have a passion and call to ministry with an academically rigorous, biblically based learning environment, today announced that its Board of Trustees has voted to suspend operations, effective immediately. Upon the recent completion of an evaluation of SEBC’s financial resources, projected cash flows, strategic challenges and possible solutions to generate the funds needed to support operations, it was concluded that SEBC will not have sufficient resources to meet its obligations.
“The Board of Trustees reached the somber conclusion that the best course of action for our students, faculty and staff is to implement a significant operations reduction, using the resources remaining to support the transition for our community, while keeping hope alive for a future Southeastern Bible College,” said Alexander Granados, Th.M., Ph.D., president of SEBC. “At this time, we cannot provide a definitive timeframe for a potential reopening of the College, but we actively are working through the details that will determine how long the transition period will last.”
SEBC is in the process of submitting a teach-out plan to the Association for Biblical Higher Education (ABHE) Commission on Accreditation. SEBC will formalize an agreement with an academic institution that will help its students progress toward the completion of their degrees. In the interim, SEBC’s Board of Trustees is establishing a transition team that will determine the scope and duration of the transition period, and under what circumstances the transition period will end.
“The primary focus and desire of the Board of Trustees is to take care of the immediate needs of our students, faculty and staff,” said Dr. Michael W. Wesley, Sr., Chairman of the College’s Board of Trustees. “This summer, we will begin the process of looking toward the future of Southeastern Bible College, and are committed to maintaining a college that is bible- and Christ-centered and connected to our mission and the needs of the church and community; however, we must create a college that is financially sustainable and relevant for generations to come.”
Since April 2016, the Board of Trustees has been working on 2020 SABER Vision, a five-year strategic plan to achieve a balanced budget and transform SEBC. Unfortunately, many of the opportunities to generate funds and transform SEBC did not materialize.
About Southeastern Bible College
Located in Birmingham, Alabama, Southeastern Bible College (SEBC) connects students who have a passion and call to ministry with an academically rigorous, biblically based learning environment. Through highly-credentialed professors and life-changing mentorships, SEBC puts students on the path to ministry leadership in today’s world.