wfn.org | Columbia Theological Seminary Receives

[PCUSA_NEWS@ecunet.org]

4-Jan-96

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. 

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