SOUTHEAST REGION’S ONLY HISTORICALLY BLACK, THEOLOGICAL CENTER FOCUSING ON FUNDRAISING INITIATIVES AND NEW PATH FORWARD

The Interdenominational Theological Center will perform a necessary hard reset to ensure long-term sustainability of the institution.

ATLANTA, GEORGIA, UNITED STATES, April 19, 2023/EINPresswire.com/ -- The Interdenominational Theological Center (ITC) Board of Trustees declared financial exigency, effective immediately. The declaration of financial exigency allows ITC to take necessary steps to address the root causes of its financial challenges to facilitate a promising future for the institution.

This unanimous decision by the board is part of a broader vision of ITC 2.0, which seeks to optimize ITC’s infrastructure and outcomes through a process of innovative, institutional overhaul. “This is a difficult and challenging time for everyone in the ITC community. We are committed to transparency and open communication throughout this process as we focus on creating an institutional strategy that is fully sustainable, with the plan to “REBOOT” as a strong, fiscally healthy, and responsible institution. It is important to note that ITC is not closing. We must, at last, bring an end to an unsustainable model which has generated a spin-cycle of institutional crisis. Our shared calling to the mission of this beloved institution requires this courageous action.” – ITC President, Reverend Matthew Wesley Williams

Despite year-over-year increases to fundraising from FY20 to FY23, including unprecedented private philanthropic support, ITC continues to struggle with financial solvency. In response to this continuous challenge, ITC has taken steps over the last two years to reduce expenses, including prior salary reductions, and the closing of buildings that are too compromised and too costly to renovate and repair in short order.

The decision to declare financial exigency was made after a thorough review of the institution's current financial situation, continued historical challenges and projections and aspirations for the future. The COVID-19 pandemic had a significant impact on ITC, as it has on many other institutions across the country. The pandemic, exacerbated longstanding institutional challenges of deferred building maintenance preventing on-campus learning, pre-existing debt, decreasing enrollment, reduced revenue, increased expenses, and increasing debt loads for our students and their families.

The declaration of financial exigency means that the institution will be taking several actions, including, but not limited to:
• Reduction in faculty and staff positions
• Reduction and temporary suspension of academic programs
• Restructuring of administrative functions, institutional model, and governance model

These actions will be taken in a deliberate and thoughtful manner, with a focus on minimizing the impact on our students and preserving academic quality in ongoing programs. ITC will work closely with affected faculty and staff to provide support and assistance during this challenging time.

ITC remains committed to its impactful educational aim to prepare “Prophetic Problem Solvers” who facilitate transformation in the pulpit, parish, and public square. ITC is confident that, with the support of our community, they will emerge from this period stronger and more resilient.

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The Interdenominational Theological Center (ITC) mission is to educate students who will commit to practicing justice and peace through a liberating and transforming spirituality.

Founded in 1958 during the Jim Crow era and rise of the Civil Rights movement, historically working in partnership with five denominational affiliates, ITC is in the Atlanta University Center.

More than 60 years after its birth, ITC continues to cultivate leaders who co-create a more diverse, equitable and inclusive society. ITC’s educational aim is to cultivate “Prophetic Problem Solvers,” faith rooted leaders who possess the competencies to design, co-create, and implement solutions to the most vexing social issues of our time, including, but not limited to challenges facing marginalized communities.

ITC has designed its curriculum to cultivate key competencies in its students for facilitating social justice (advocacy) and social impact (innovation/design justice).
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A New Leader, A New Vision: President Matthew Wesley Williams & ITC 2.0

President Williams often describes ITC as a “start-up that is not starting from scratch.” The focus is to amplify a new vision that began upon his appointment to the interim role in July 2019, continuing with his pandemic appointment to the permanent role in June 2020. First dubbed ITC 2.0 by President Williams, the new vision seeks to optimize ITC’s infrastructure through a process of innovative, institutional overhaul.

The overhaul will address a range of initiatives including, but not limited to optimization in governance and institutional design, reimagining the physical plant and redesigning the academic curriculum. As a demonstration project, the ITC Comprehensive Institutional Model will become an exemplar for leadership formation, education, and a replicable model for other cause-driven institutions seeking to make meaningful social impact.

ITC will focus its impact on areas related to housing, food systems, environmental justice, mental health, and economic development, all while achieving financial sustainability.

As ITC continues this 2.0 journey, the ITC Board of Trustees and leadership will be seen working collaboratively throughout greater Atlanta and beyond to implement the most effective strategies for institutional growth and change, with the primary goal of positively impacting ITC students, the broader Atlanta community, and the communities where ITC’s bi-vocational graduates live, pray, work and lead.

Shaheen Solomon
The Partnership
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