March 22, 2016
TO: Members of the Board of Directors and Interested Parties
RE: Clarifications by the Board Executive Committee
As most of you have heard by now, Southern Methodist College is undergoing significant changes. The college has had a rich history in the Southern Methodist Church and these changes seek to put the college on a more solid financial base. We will continue to offer a quality Christian education with a curriculum that will prepare men and women for Christian life and service.
To help clarify some of the changes, the Board of Directors' Executive Committee has approved this letter. The Executive Committee and full board seek to be clear and open about this new direction. The college will convert to an online college by the fall of 2016. Graduates will continue to receive a diploma from Southern Methodist College.
What will the new on-line college look like? The Board of Directors' responsibilities remain the same. The administration will consist of the President, Dr. Vic Reasoner, who answers to the board, the Academic Dean, Dr. John Hucks, an internet technical coordinator for online courses, and a financial person. All students will be taught online from a library of filmed courses and by other means typically used by on-line colleges. The exception will be that students may attend on-site classes as they are being filmed, and master's students may be on campus for special classes as in the past. All students must be in good financial standing with the College in order to enroll each semester.
Terry Hall will no longer be a dormitory and students will not be allowed to stay there. Those eligible to stay in Terry Hall as guests for a modest fee are staff, board members, and missionaries.
The Board is also working on strategies to strengthen the financial stability of the College. College debt has been reduced to $182,000 – the lowest in quite some time. The current college endowment account is $335,000. A goal of one million dollars has been set for endowments and the interest from this portfolio will fund general operations and scholarships. The board has voted to sell the college president’s home because it is not being used by the president. The house is aging and will soon require major repairs. The board is seeking to lease the gym and some property on the back of campus. This is potentially more income for the college. Proceeds from these transactions would help erase college debt.
These are the major changes at Southern Methodist College. We want to thank you for your past support and hope we prove worthy of continued support. We need you and together we can carry our small Bible-believing institution to greater heights. Please feel free to contact the President, Dr. Vic Reasoner, at 864-923-5076 (or firstname.lastname@example.org), or Chairman of the Board, Dr. George Green, at 843-659-4917 (or email@example.com) for more information or details.
Southern Methodist College . 541 Broughton St.. Orangeburg, SC 29115 . 534-7826