From the Worldwide Faith News archives www.wfn.org
Columbia Theological Seminary Receives
04 May 1996 20:34:41
96003 Columbia Theological Seminary Receives
$55 Million Bequest
by Jerry L. Van Marter
DECATUR, Ga.--Columbia Theological Seminary has been named beneficiary of a
$55 million trust established more than 60 years ago by J. Bulow Campbell,
an Atlanta businessman and Presbyterian layman.
Campbell was long involved in the affairs of the seminary. He was
influential in moving the seminary to its current Decatur home from
Columbia, S.C., in 1927 and continued to support the school until his death
in 1940. The seminary's library was named in his honor.
The trust was established upon his death to benefit his wife and
daughter. It was bequeathed to Columbia Seminary this fall when Campbell's
daughter and sole heir died. Campbell's wealth derived primarily from
Coca-Cola stock he bought in the Atlanta-based company's early years.
At a convocation announcing the gift, one of the largest ever received
by a theological institution in the United States, seminary president the
Rev. Douglas W. Oldenburg said, "Words cannot adequately express our
profound gratitude to God for all who have supported our current [$31.4
million] capital campaign and for this generous trust. ... We pledge to be
faithful and responsible stewards of this wonderful gift as we continue the
critical task of preparing women and men for leadership in the church. It
is at moments like this that I am profoundly aware of the truth that we
build on foundations we did not lay and drink from wells we did not dig."
According to seminary officials, the income from the trust "will be
used for strengthening the financial base of the seminary by reducing the
draw on its endowment, staffing a Center for New Church Development and
increasing scholarships and financial aid to students." The gift will not
be used to construct new buildings or renovate existing ones.
Some decisions about the use of the trust will await long-range
planning by the seminary's board of trustees.
For more information contact Presbyterian News Service
Presbyterian Church (U.S.A.), Louisville, KY 40202
phone 502-569-5504 fax 502-569-8073
E-mail PCUSA.NEWS@pcusa.org Web page: http://www.pcusa.org
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