American radio broadcaster Paul Harvey (d. 2009) used to quip, “And now, over my shoulder, a backward glance.” As we glance backward, we remember a year ago toiling diligently to share mission progress through the 2020 Vision prospectus highlighting TBS accomplishments; people and programs; and dreams and goals. During the preceding months, we successfully completed our first accreditation site team visit from the Transnational Association of Christian Colleges and Schools (TRACS); responded to their findings, recommendations, and suggestions; achieved Candidate status; and received approval to move toward Accredited status.
During the fall 2019 semester, as reported in Summer 2020 issue of The Sentinel magazine (pp. 27, 29), enrollment increased significantly to highest levels so far in every program. TBS rejoiced in the increasing momentum toward eventually graduating 5,000 ministry leaders who together reach one million souls for Christ.
Then, 2020 arrived.
Spring semester began with energetic normalcy, including strong enrollment and high expectations. A major shift occurred during spring break in response to the increasing spread of the COVID-19 virus: TBS moved classes online, albeit quite seamlessly thanks to the excellent work of TBS Communications Director, Blake Quimby. Zoom ballooned from a novelty app used by about 10 million daily participants in December 2019 to a core operational tool for more than 200 million daily users by mid-spring 2020. Like TBS, many schools and church facilities closed and moved to remote synchronous (live) and asynchronous (recorded) education and worship. Many small and large businesses ceased operations due to government demand or significant decreases in customers. Working from home became common, employers furloughed or laid off many, financial markets lost substantial wealth for investors, and medical personnel ceased conducting elective procedures to focus more on providing emergency services, intensive care, and testing.
Even with record enrollment last year, TBS faced somber concerns about adequately funding our mission since donations fund 85% of operations. Thankfully, May 2020 brought the highest monthly financial support since the seminary’s launch in November 2010 (see “2019-20 FYE Report” in The Sentinel, pp. 34-35)! Along with a grant from the Paycheck Protection Program, TBS ended the 2019-20 fiscal year on May 31, 2020 financially solvent.
Since then, TBS has offered two dynamic summer graduate courses (including one of our largest graduate classes ever with 23 students enrolled), hosted a successful TRACS site team visit in July, celebrated 12 new graduates in an inspirational commencement ceremony (see The Sentinel, pp. 10-13 and “TBS Celebrates 2020 Graduates”), and began the fall 2020 semester with 36 students enrolled in graduate courses.
As usual, our students continue to serve in and through a variety of churches and ministries in person and virtually, together serving hundreds of people weekly while they are engaging in the study of all 66 books of the Bible and ministry leadership training.
We invite you to join in praying for individuals, families, and leaders in communities throughout our nation. Also, pray for TBS administrators, alumni, board, faculty, staff, students, and prayer and financial supporters as God grows our graduates into “oaks of righteousness” (Isaiah 61:3) – a forest of ministry leaders trained in all 66 books of the Bible. We also invite your continued donations in support of the monthly budget of $77,000. All gifts help, including pledges of monthly or quarterly donations that improve monthly cash flow and planning.
Financial Update (as of August 31, 2020)
Category Actual Total Budget
Donations/Grants $ 114,325 $ 810,000
Tuition/Fees $ 28,875 $ 112,920
Total Income $ 143,200 $ 922,920
Total Expenses $ 193,444 $ 910,750
Income vs Expense ($ 50,244) $ 12,170
Monthly Budget = $77,000
Jun = $58,000
Jul = $47,000
Aug = $10,000
Operational Funds $ 265,032
Funds in Reserve $ 128,102
Endowment $ 0
Total Funds $ 393,134
Support TBS by giving online
or mailing a gift to:
The Bible Seminary, 2655 S Mason Rd, Katy, TX 77450