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Welch College | 2018 Annual Report

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2018 annual report

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Welch College | 2018 Annual Report

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O U R M I S S I O N : E D U C A T I N G L E A D E R S T O S E R V E C H R I S T, H I S C H U R C H , AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE


Welch College | 2018 Annual Report

2018

PRESIDENT’S REPORT AMAZING GROWTH This was an excellent year for Welch College. We set a 33year enrollment record: Full-time students increased by 11% over last year, with a dormitory student increase of 13% and a headcount increase of 16%. Likewise, unrestricted cash gifts were up 21% from last year. We will have received more cash gifts this year than any year in the college’s history, except 2015-16, when we received some very large relocation gifts through our Building on the Legacy capital campaign. So, quantitatively, we have had a year of amazing growth. That said, we have had our financial challenges owing to an underreporting error on the part of our general contractor amounting to nearly $2 million. This threw us into a financial tailspin (which we expect to be out of later this summer because of anticipated capital campaign gifts). Furthermore, with our new campus environment, we underestimated some of the costs of operating our new physical plant (especially depreciation, which will be nearly $200,000 more than we had budgeted). We also overestimated the number of students who would enroll this early in the adult studies program, as well as the amount we would receive from the local community in grants.

WE HAVE HAD A YEAR OF AMAZING GROWTH. 5


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EXCITEMENT ABOUT THE NEW CAMPUS AND ABOUT LIFE AT WELCH IS VERY HIGH. Thus we experienced a substantial deficit as of the fiscal year end of May 31, 2018. Yet we believe projected capital campaign gifts will bring us back to normal this summer.

QUALITY IMPROVEMENT Qualitatively, Welch College is doing exceedingly well. We recently conducted a wide-ranging survey of students, faculty, and staff about their perceptions of the new campus and other general questions about the quality of campus life and their experience at Welch. Results show that, while we have a few improvements to make with our new facilities (e.g., changing student center and gym hours of operation, adding more study seating in quiet spaces, tweaking campus WiFi), excitement about the new campus and about life at Welch is very high. This survey matches what we found in our recent Best Christian Workplaces survey of our faculty and staff, which led to our certification as one of America’s Best Christian Workplaces. Our debriefing with one of the leaders at BCWI was very encouraging. She explained that Welch was in the top 7% of all the organizations that participated in this year’s survey. The only three questions on which we fell slightly below average were discussions about employee progress, gathering and responding to employee suggestions, and retirement benefits. We are going to address these three issues head-on. We will institute a fresh, new system of annual supervisor progress discussions with each employee and administer an anonymous email suggestion survey. We are also going to begin putting an additional one percent of each employee’s salary into an employee account at the Board of Retirement of the National Association of Free Will Baptists, with no requirement for matching employee contributions.

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Welch College | 2018 Annual Report

Other measures of quality include our highest-ever ranking in U.S. News and World Report’s Best Colleges. The numerical ranking of 26 in the 2018 South Region indicates a rise of five places above the 2017 edition ranking of 31. Welch was also ranked 21 among “Best Value” Colleges in the South, and ranked 5th “Best Value” of all colleges and universities in Tennessee.

ON MISSION However, our mission which centers on the gospel of the kingdom is at the heart of what is exciting right now at Welch College. We have a faculty and staff that skews young, and they’re meshing with students who are eager to learn about how the gospel and a gospel-shaped worldview mold their lives, the church, the extension of the kingdom through Great Commission fulfillment, and their interaction as salt and light with the culture around them. The local church and Great Commission mindset continues to be at the heart of the Welch College campus. Nearly twothirds of our male students are going into the ministry. But, more than that, Welch is an intentional training ground for church leaders, whether ordained or lay, and for community leaders who will bear witness as salt and light in the culture. Thus, we are orienting our student body to seeing themselves and their callings as related directly to church leadership and the Great Commission, regardless of their major. This includes keeping evangelism and the Free Will Baptist mission to the world as the heartbeat of our campus. So ministry and mission remain at the core of who we are as a Christian community of faith and learning.

A BUSY NEAR-FUTURE When so many small Christian colleges are struggling to survive and have little hope for generating enough growth and revenue to get beyond that, our problem at Welch is trying to figure out how to control our growth. I believe we are going to see the saying “Build it and they will come” materialize on the Welch campus, both in terms of student enrollment growth and giving. I believe we are about to turn a corner in the philanthropic underpinning of our institution. We have large donors who have come to the table who had never given to Welch before our relocation process. I believe, over the next five years, we will raise three times the funds we raised in the previous five years. As of this writing, the timing on our capital campaign is a little slow, with some of our largest potential donors having to delay meetings or gifts until later in the summer. Yet I predict we will be out of our current relocation debt in five years. However, I predict we will have a new debt load of $6-7 million by that point because of the construction of new student housing and a 1,000-plus-capacity chapel/auditorium which will be the signature building on our campus. I believe we will continue the enrollment growth trends from the past few years. And because of our new name and new campus, this growth will not be like most current growth in the higher education sector—mainly non-traditional and graduate—it will be in undergraduate and dormitory students as well. I predict we will have to begin building new student housing in 2019 to be able to accommodate Fall 2020 dormitory enrollment. We are projecting a 17% increase in new oncampus students this fall, and our non-traditional programs will grow as well.

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OUR MISSION WHICH CENTERS ON THE GOSPEL OF THE KINGDOM IS AT THE HEART OF WHAT IS EXCITING RIGHT NOW AT WELCH COLLEGE. I predict we will have another 16% increase in annual headcount this time next year. That will put us up over 500 in enrollment, thus giving us a 35-year record high enrollment. With the addition of the master’s degree in education next spring, and modest gains in other enrollment, I predict that 3-4 years from now we will break our overall enrollment record of 648, which was set in the 1981-82 academic year.

CONCLUSION Though the 2017-18 fiscal year was a year of financial growing pains on our new campus, spirits are high, and we are expecting to have another record-setting year in enrollment next year. Free Will Baptists are continuing to trust us with the best student leaders from their churches across the country, and for this we thank you. I want to express special gratitude to the individuals and churches who support us financially, and to the alumni, parents, pastors, and youth leaders who promote Welch College to your students. The need for truly Christian higher education in a distinctly Free Will Baptist setting is greater than ever in our current culture. I thank you for your support in making a Welch education possible and continuing to stand with us as we witness greater growth in mission fulfillment in the next few years than at any time in our history. Sincerely,

J. Matthew Pinson President

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Welch College | 2018 Annual Report

BOARD of TRUSTEES MR. MIKE ARMSTRONG Educator, Principal Wheelersburg, OH REV. WILL BEAUCHAMP Pastor, First Free Will Baptist Church of Tampa Seffner, FL DR. JEFF CRABTREE Chairman Pastor, Serenity Free Will Baptist Church Fredericton, New Brunswick, Canada REV. SHILOH HACKETT Pastor, Bethlehem Free Will Baptist Church Ashland City, TN REV. WAYNE MIRACLE Pastor, New Life Fellowship Free Will Baptist Church Statesboro, GA

DR. EDDIE MOODY Pastor, Tippett’s Chapel Free Will Baptist Church Chairman, Department of Allied Professions, North Carolina Central University Clayton, NC REV. BRAD RYAN Pastor, Ina Free Will Baptist Church Ina, IL REV. KEN SIMPSON Vice-Chairman Pastor, Calvary Fellowship Free Will Baptist Church Fenton, MO DR. MARK STRIPLING Secretary Pastor, First Free Will Baptist Church North Little Rock, AR

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REGISTRATION REPORT TOTAL ENROLLMENT:

436

STATES

CLASSIFICATION

OTHER CATEGORIES

Alabama �������������������������������������������������� 21 Arizona ����������������������������������������������������� 1 Arkansas ������������������������������������������������� 14 California ������������������������������������������������� 4 Florida ����������������������������������������������������� 14 Georgia �������������������������������������������������� 10 Illinois ����������������������������������������������������� 13 Indiana ������������������������������������������������������ 3 Kansas ������������������������������������������������������� 4 Kentucky �������������������������������������������������� 3 Maryland �������������������������������������������������� 1 Michigan �������������������������������������������������� 6 Mississippi ����������������������������������������������� 6 Missouri �������������������������������������������������� 15 New York ������������������������������������������������� 1 North Carolina ������������������������������������� 31 Ohio ���������������������������������������������������������� 4 Oklahoma ������������������������������������������������ 6 Pennsylvania �������������������������������������������� 1 Rhode Island ������������������������������������������� 2 South Carolina �������������������������������������� 9 South Dakota ������������������������������������������ 1 Tennessee ������������������������������������������� 209 Texas ���������������������������������������������������������� 5 Virginia �������������������������������������������������� 10 West Virginia ������������������������������������������ 1 International ����������������������������������������� 41

Freshman ���������������������������������������������� 122 Sophomore������������������������������������������� 74 Junior ����������������������������������������������������� 48 Senior ������������������������������������������������������ 58 Graduate School ���������������������������������� 23 Non-degree Part-time ������������������������ 33 Dual Enrollment ��������������������������������� 78

Full-Time �������������������������������������������� 243 Part-Time ��������������������������������������������� 193

VOCATIONAL*

Dorm ���������������������������������������������������� 203 Commuter ��������������������������������������������� 32 Graduate School ���������������������������������� 23 Adult ������������������������������������������������������ 24 Online ���������������������������������������������������� 46 Lifetime Learning ������������������������������� 30 Dual Enrollment ��������������������������������� 78

Christian Ministry (Grad) ���������������� 21 Christian Ministry (Bach)** ������������� 71 Christian Ministry (Assoc) �������������� 10 Missions ������������������������������������������������� 11 Business �������������������������������������������������� 38 English (TE Licensure: 7) ����������������� 13 Exercise Science (TE Licensure: 2) 15 General Studies ����������������������������������� 80 History (TE Licensure: 4) ���������������� 11 Music (BME Licensure: 2) ����������������� 7 Psychology ��������������������������������������������� 14 Science/Nursing ����������������������������������� 13 Teacher Education*** �������������������������� 39 Non-degree Part-time ������������������������ 33 Dual Enrollment ��������������������������������� 78

Male ������������������������������������������������������ 230 Female ������������������������������������������������� 206 Single ���������������������������������������������������� 346 Married �������������������������������������������������� 90

New ������������������������������������������������������ 120 Transfer �������������������������������������������������� 23 Continuing ������������������������������������������ 175 Re-admit �������������������������������������������������� 7 Non-degree Part-time ������������������������ 33 Dual Enrollment ��������������������������������� 78 Free Will Baptist ������������������������������� 275 Other ����������������������������������������������������� 161

*Pursuing multiple degrees. **Pursuing vocational Christian ministry: Pastoral, Youth and Family, and General Christian Ministries. ***Includes Early Childhood, preK-3, Child Development and Learning, and post-baccalaureate (1). Although the total number of students pursuing TE licensure is 39, those pursuing secondary licensure, Grades 6-12 (Bible, Biology, English, History, Music, and Physical Education) are counted in their respective content areas for the purposes of this report. 10


Welch College | 2018 Annual Report

THE STUDENT BODY REPRESENTS 26 STATES (USA) AND 5 INTERNATIONAL COUNTRIES ( B U L G A R I A , C A N A D A , C U B A , PA N A M A , A N D S A N T O D O M I N G O ).

CANADA

BULGARIA

CUBA SANTO DOMINGO PANAMA

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TOP GIVING CHURCHES  1.

Connect Church

Russellville

AR

$120,506.00

 2.

Horse Branch Free Will Baptist Church

Turbeville

SC

$37,645.63

 3.

Lebanon Free Will Baptist Church

Effingham

SC

$29,594.26

 4.

First Free Will Baptist Church

Albany

GA

$28,060.50

 5.

Unity Free Will Baptist Church

Greenville

NC

$25,150.04

 6.

Bethel Free Will Baptist Church

Chapmansboro

TN

$15,082.80

 7.

The Donelson Fellowship

Nashville

TN

$ 14,016.82

 8.

First Free Will Baptist Church

North Little Rock

AR

$13,590.00

 9.

Tippett’s Chapel Free Will Baptist Church

Clayton

NC

$13,270.36

 10.

Tupelo Free Will Baptist Church

Tupelo

MS

$11,662.18

 11.

First Free Will Baptist Church

Dothan

AL

$11,192.23

 12.

First Free Will Baptist Church of Tampa

Seffner

FL

$10,500.00

 13.

Ebenezer Free Will Baptist Church

Glennville

GA

$10,400.00

 14.

Calvary Fellowship Free Will Baptist Church

Fenton

MO

$10,387.00

 15.

Northport Free Will Baptist Church

Northport

AL

$9,925.37

 16.

New Hope Free Will Baptist Church

Joelton

TN

$9,713.75

 17.

Liberty Free Will Baptist Church

Lawley

AL

$9,659.13

 18.

Hyde Park Free Will Baptist Church

Norfolk

VA

$9,000.00

 19.

Bethlehem Free Will Baptist Church

Ashland City

TN

$7,749.00

 20.

Sherwood Forest Free Will Baptist Church

New Bern

NC

$7,188.79

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W E A R E O R I E N T I N G O U R S T U D E N T B O D Y T O S E E I N G T H E M S E LV E S A N D T H E I R C A L L I N G S A S R E L A T E D D I R E C T LY T O C H U R C H L E A D E R S H I P A N D THE GREAT COMMISSION, REGARDLESS OF THEIR MAJOR.

 21.

Garner Free Will Baptist Church

Garner

NC

$7,160.00

 22.

Liberty Free Will Baptist Church

Ayden

NC

$6,710.00

 23.

West Calvary Free Will Baptist Church

Smithfield

NC

$6,505.00

 24.

Grace for the World Ministries

Dickson

TN

$6,500.00

 25.

Red Bay Free Will Baptist Church

Red Bay

AL

$6,281.38

 26.

Ebenezer Free Will Baptist Church

Miami

FL

$6,223.00

 27.

Bethel Free Will Baptist Church

Kinston

NC

$6,200.00

 28.

Serenity Free Will Baptist Church

Fredericton

NB

$6,044.26

 29.

Peace Free Will Baptist Church

Wilson

NC

$6,000.00

 30.

Hurricane Chapel Free Will Baptist Church

McEwen

TN

$5,671.00

 31.

Cross Timbers Free Will Baptist Church

Nashville

TN

$5,071.63

 32.

Liberty Free Will Baptist Church

Marion

NC

$5,061.00

 33.

Pine Level Free Will Baptist Church

Alma

GA

$5,025.00

 34.

Shady Grove Free Will Baptist Church

Whitesburg

TN

$5,000.00

 35.

Head’s Free Will Baptist Church

Cedar Hill

TN

$4,786.00

 36.

Fairview Free Will Baptist Church

Spartanburg

SC

$4,781.85

 37.

First Free Will Baptist Church

Walnut Ridge

AR

$4,765.00

 38.

First Free Will Baptist Church

Vernon

AL

$4,488.05

 39.

Cofer’s Chapel Free Will Baptist Church

Nashville

TN

$4,441.00

 40.

Bethany Free Will Baptist Church

Timmonsville

SC

$4,425.00

 41.

Ina Free Will Baptist Church

Ina

IL

$4,316.00

 42.

Immanuel Free Will Baptist Church

Durham

NC

$4,195.30

 43.

Westside Free Will Baptist Church

Johnsonville

SC

$4,142.21

 44.

Temple Free Will Baptist Church

Winterville

NC

$4,069.00

 45.

Fellowship Free Will Baptist Church

Kingsport

TN

$3,900.00

 46.

Sulligent Free Will Baptist Church

Sulligent

AL

$3,899.10

 47.

First Free Will Baptist Church

Washington

NC

$3,596.00

 48.

Crossroads Free Will Baptist Church

Jenks

OK

$3,495.00

 49.

Ashland City Free Will Baptist Church

Ashland City

TN

$3,411.36

 50.

New Life Fellowship Free Will Baptist Church

Statesboro

GA

$3,262.50

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2017-2018

TOP GIVING ASSOCIATIONS Tennessee State Association�������������������������������������� $94,693.01 Alabama State Association ����������������������������������������� $52,946.74 Missouri State Association������������������������������������������ $29,174.16 Oklahoma State Association�������������������������������������� $21,134.80 Arkansas State Association����������������������������������������� $19,007.21 Mississippi State Association�������������������������������������� $11,955.16 Texas State Association ������������������������������������������������ $6,240.84 North Carolina State Association������������������������������ $6,086.64 Ohio State Association�������������������������������������������������� $5,607.28 Illinois State Association����������������������������������������������� $3,816.07 Georgia State Association���������������������������������������������� $3,622.38

Florida State Association������������������������������������������������� $3,378.55 Kentucky State Association������������������������������������������� $1,389.54 Michigan State Association������������������������������������������� $1,353.44 California State Association������������������������������������������� $696.00 New Mexico District Association���������������������������������� $663.20 West Virginia State Association������������������������������������� $644.64 Virginia State Association�������������������������������������������������� $314.37 Oregon State Association ������������������������������������������������ $250.48 Kansas State Association �������������������������������������������������� $123.28 Indiana State Association���������������������������������������������������� $79.25 Arizona State Association��������������������������������������������������� $21.78

WELCH FUND GIFTS Tennessee ������������������������������������������������������������������� $268,060.42 North Carolina ������������������������������������������������������������ $164,893.15 Georgia ��������������������������������������������������������������������������� $157,907.65 South Carolina ������������������������������������������������������������� $113,145.05 Missouri ���������������������������������������������������������������������������� $83,738.16 Oklahoma ������������������������������������������������������������������������� $81,737.58 Alabama ���������������������������������������������������������������������������� $76,853.15 Florida ����������������������������������������������������������������������������� $65,462.29 Arkansas ���������������������������������������������������������������������������� $57,335.84 Illinois �������������������������������������������������������������������������������� $36,351.13 Mississippi ����������������������������������������������������������������������� $21,859.19 Kentucky �������������������������������������������������������������������������� $21,354.54 Virginia ����������������������������������������������������������������������������� $18,359.37 Ohio ��������������������������������������������������������������������������������� $16,599.28 Michigan ��������������������������������������������������������������������������� $5,794.44 California ������������������������������������������������������������������������� $4,930.98 Texas ������������������������������������������������������������������������������������ $4,737.28 West Virginia �������������������������������������������������������������������� $4,554.65 Indiana �������������������������������������������������������������������������������� $2,725.25

Canada ������������������������������������������������������������������������������� $2,035.77 Washington ���������������������������������������������������������������������� $1,987.00 Kansas �������������������������������������������������������������������������������� $1,863.28 Virgin Islands ������������������������������������������������������������������� $1,780.91 Idaho ��������������������������������������������������������������������������������� $1,300.00 South Dakota ����������������������������������������������������������������� $1,000.00 New Mexico ������������������������������������������������������������������������ $963.20 Maryland ������������������������������������������������������������������������������� $921.76 Colorado ����������������������������������������������������������������������������� $805.00 Hawaii ��������������������������������������������������������������������������������� $680.00 Pennsylvania ������������������������������������������������������������������������� $552.42 Oregon ���������������������������������������������������������������������������������� $250.48 Massachusetts ������������������������������������������������������������������� $200.00 Brazil ������������������������������������������������������������������������������������ $180.00 Arizona ���������������������������������������������������������������������������������� $121.78 DC ���������������������������������������������������������������������������������������� $100.00 Unknown ������������������������������������������������������������������������������� $75.00 Estate Gifts ���������������������������������������������������������������������������� 186,231

T O T A L : �������������������������������������������������������������������������������������������������������������������������������������������������������� 16

$ 1 , 4 0 7, 4 4 7


Welch College | 2018 Annual Report

CORPORATE DONORS & FOUNDATION GIFTS $100,000 +

UNDER $1,000

Do Unto Others Trust, Inc. National Christian Foundation

Alvy’s Auto Electric Amazon Smile Bishop Screenprinting Central Woodwork, Inc. Clarendale Indian Lake Coley Insurance Agency Curtis Builders, LLC Davis, Brown & Company PLLC Free Will Baptist Board of Retirement Free Will Baptist International Missions Hodges Group, Inc. Holder Family Fun Center, LLC Kroger MobileCause, Inc. National Certified Alarms, Inc. Network for Good NHC Place, Sumner Olympian Construction Phillips 66 Corporate Contributions Poston’s Trailer Repair LLC Puryear Farms, Inc. PWO Real Estate, Inc. R & L Restoration, Inc. Rogers Group, Inc. Sasser Golf Cars, Inc. Scott Timber LLC Southern FoodService Group LLC Tenn Properties

$50,000 - $99,999 Free Will Baptist Foundation

$10,000 - $49,999 Anonymous ExxonMobil Foundation Newberry Family Foundation, Inc. Howard R. Price Trust Sumner Regional Medical Center

$1,000 - $9,999 AW Healthcare Management, LLC Bone McAllester Norton PLLC Carolyn L. Schwieger Trust Coca-Cola Bottling Co. Consolidated Feeney & Murray, P.C. FirstBank, Sumner County Goodall Homes Lewis Letterworks Main Street Media Pinnacle Bank Randall House Publications Sesser Auto Body, Inc. Surface Tech Inc. Wang Vision Cataract & LASIK Wilson Bank & Trust Women Nationally Active for Christ Volunteer State Bank

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DONORS PRESIDENT'S CIRCLE $20,000.00 + Mr. and Mrs. Mac Atkinson Mr. and Mrs. Bob Bass Mr. and Mrs. James W. Beasley Mr. and Mrs. Robert Bryan, Jr. Mr. Jack L. Daniel Mrs. Betty English Mr. and Mrs. Benjamin S. Evans Mr. and Mrs. Carol K. Harvey Miss Blanche Hunter Dr. and Mrs. Paul Inbody The Estate of Tilden E. Parks Mr. and Mrs. W. O. Powers Mr. Glen Roberts The Estate of Elizabeth Wills

LEGACY CIRCLE $10,000.00 - $19,999.99 Mrs. Janie Aldridge Mr. and Mrs. James R. Carr Mr. Zenis Childress Rev. and Mrs. Tim A. Hall Mrs. Altha T. Keifer Mrs. Edna M. Leckrone Mr. and Mrs. W. C. Moore

HERITAGE CIRCLE $5,000.00 - $9,999.99 Dr. David L. and Congressman Diane Black Ms. Vicki L. Cherry

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Rev. and Mrs. William W. Evans Mr. and Mrs. Richard Frazier Mr. Fred T. Keifer, Jr. Dr. and Mrs. Paul G. Ketteman Mr. and Mrs. Jason King Mr. Jim L. Lindquist Mr. Brian Phillips Mr. Nolan E. Purcell Mr. and Mrs. Donald Southerland Mr. and Mrs. Van J. Stewart

EXECUTIVE CIRCLE $2,500.00 - $4,999.99 Rev. and Mrs. Mike Edwards Mr. and Mrs. James S. Futrell Mr. and Mrs. Watson Hall Mr. and Mrs. James Maute Mrs. Juanita S. Nicholson Dr. and Mrs. J. Matthew Pinson Mr. and Mrs. Leon M. Sandifer Mr. and Mrs. Thomas A. Sass Drs. Douglas and Judy Simpson Mrs. Lissie Turnage Mr. and Mrs. Marvin E. Willoughby Mr. and Mrs. Gary W. Wright

LEADERSHIP CIRCLE $1,000.00 - $2,499.99 Anonymous Mr. and Mrs. A. C. Allen Mr. and Mrs. J. W. Allen Mr. William A. Armstrong


Welch College | 2018 Annual Report

THE LOCAL CHURCH AND GREAT COMMISSION MINDSE T CONTINUES TO BE AT THE HEART OF THE WELCH COLLEGE CAMPUS. Mr. and Mrs. Frank E. Breedlove Mr. and Mrs. Tildon J. Brooks Dr. and Mrs. A. B. Brown Ms. Dorothy A. Brown Ms. Kay F. Brown Mrs. Helen Y. Cannon Rev. and Mrs. Tommie D. Carlson Dr. and Mrs. Joshua C. Carmack Mr. and Mrs. John L. Carter Mrs. Janice Clark Rev. and Mrs. Russell Clouse Dr. and Mrs. Jeff Cockrell Mr. and Mrs. Robert P. Cooper Dr. Stan M. Culpepper Mr. and Mrs. Daniel M. Dean Mr. and Mrs. David C. Edgil Mrs. Lesa Parker Enlow Mrs. Betty T. Ezell Mr. and Mrs. Ronald W. Ferrell Mr. Freddie L. Fields Mr. and Mrs. Waymon Fields Rev. and Mrs. Terry L. Forrest Mr. and Mrs. Darrell L. Fulton Mr. and Mrs. Franklin J. George Mr. and Mrs. Alan R. Gober Chaplain and Mrs. Walter E. Golding Mr. and Mrs. Joseph A. Goodfellow Mr. Thurman B. Hall, II Rev. and Mrs. Larry D. Hampton Mr. and Mrs. Jules Hancart Rev. and Mrs. Billy D. Hanna Dr. and Mrs. Roy W. Harris Rev. A. L. Hines Mr. and Mrs. Jimmy L. Holley Ms. Barbara Jean Howard Mr. and Mrs. James L. Hughes

Rev. and Mrs. Bobby R. Jackson Rev. Roy S. Jensen Mr. and Mrs. Samuel E. Johnson Mrs. Dessie B. Jones Mr. Ernest Joyce Ms. Bernadene Little Kemble Dr. and Mrs. James Kilgore Mr. and Mrs. Clarence D. Lewis Mr. and Mrs. H. Clayton Manning Rev. and Mrs. Wayne Miracle Rev. and Mrs. Larry M. Montgomery Mr. and Mrs. Marvin L. Mouser Dr. and Mrs. Stanley Outlaw Rev. and Mrs. F. Todd Parrish Drs. Greg and Etta Patterson Dr. Robert E. Picirilli Mr. and Mrs. John W. Pinson Mr. Russell W. Poston Mr. and Mrs. John C. Powelka Mr. and Mrs. Mike Price Mr. and Mrs. James R. Puckett Rev. and Mrs. Ivan L. Ryan Mr. and Mrs. J. Wayne Salyer Mr. Adam D. Scott Mr. and Mrs. Donald L. Smith Mr. and Mrs. Willie Ken Smith Mrs. Karen M. Sparks Mr. and Mrs. Wayne E. Spruill Mr. and Mrs. Greely D. Stafford Chaplain and Mrs. Kerry M. Steedley Mrs. Brancie E. Steele Chaplain and Mrs. Roy C. Swisher Mr. and Mrs. Mark Tart Dr. and Mrs. Charles A. Thigpen Mr. and Mrs. Gary W. Turner Mr. and Mrs. Kent Waller

Mr. and Mrs. H. L. Warren Mrs. Elaine M. Williamson Rev. and Mrs. David Williford Dr. and Mrs. Melvin Worthington Dr.. and Mrs. Milton Worthington Dr. Frederick L. Yerby Mr. James R. Young Mr. and Mrs. John G. Zubor

FRIENDSHIP CIRCLE $250.00 - $999.99 Anonymous Mr. Phillip L. Adkins Rev. and Mrs. Derek Altom Mr. and Mrs. Michael L. Armstrong Mr. and Mrs. Phillip Ashcraft Mr. William Baker Mrs. Jeanie Ballard Miss Molly Barker Mrs. Esterlene Ellis Barnett Mr. and Mrs. Leroy Blades Rev. and Mrs. Ronnie Blanks Mrs. Verla Blowe Mr. and Mrs. Max Bolin Mr. and Mrs. Richard W. Bowers Ms. Hilda J. Boyd Mrs. Karolyn W. Boyer Mr. and Mrs. Matthew S. Bracey Mr. and Mrs. James O. Brewer Mr. and Mrs. Randolph W. Brooks Mrs. Edna Brown Mr. and Mrs. Jamie F. Brown Mr. Joe C. Brown Mr. and Mrs. Edgar J. Brumfield Rev. and Mrs. Randall A. Bryant

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FREE WILL BAPTISTS ARE CONTINUING TO TRUST US WITH THE BEST S T U D E N T L E A D E R S F R O M T H E I R C H U R C H E S A C R O S S T H E C O U N T R Y. Mrs. Delores Buser Mr. and Mrs. Kevin Buttry Mr. and Mrs. Lynn R. Buzzard Ms. Gale Cales Mr. and Mrs. George R. Capps Rev. and Mrs. Douglas Carey Mr. C. Dennis Carlton Mr. and Mrs. Roy Carney Mrs. Gwen Carraway Mr. and Mrs. James L. Carrington Miss Mary V. Carter Mr. and Mrs. Robert Carter Rev. and Mrs. Reuben Cason Mr. and Mrs. Jeffrey L. Caudill Mr. and Mrs. Dennis A. Chamberlin Miss Doris J. Chamberlin Mr. and Mrs. Gary F. Clark Ms. Helen S. Coasts Mr. and Mrs. W. Glenn Cole Ms. Faye Coles Mr. and Mrs. Harry L. Cooper Rev. and Mrs. James R. Corn Dr. and Mrs. James Cox Rev. and Mrs. Jacob M. Creech Lt. Col. and Mrs. Larence R. Cusick Mrs. Mildred Daniel Mr. and Mrs. Walter A. Daniels Mr. and Mrs. Phillip W. Davis Mr. and Mrs. Thomas A. Davis Mr. and Mrs. William H. Day Mr. and Mrs. Marvin L. Deaver Mr. and Mrs. S. Bryant Dilda, Jr. Ms. Gwen Dismuke Mr. and Mrs. Paul R. Drake Mr. and Mrs. Edward E. Driggers Rev. and Mrs. Galen F. Dunbar

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Dr. and Mrs. Kenneth P. Eagleton Mr. and Mrs. J. M. Edington, III Dr. and Mrs. Timothy F. Edwards Mr. and Mrs. Paul Ellis Rev. and Mrs. Gregory R. Fawbush Mrs. Kimberly R. Fender Mr. and Mrs. Ronnie B. Finch Mrs. Phyllis A. Fite Mr. and Mrs. Nathan Fletcher Mr. Leroy and Dr. Fay Forlines Mr. and Mrs. Eddie David Foster Mr. and Mrs. Dave R. Franks, Sr. Rev. and Mrs. Gary W. Fry Mr. Wayne Fry Chaplain and Mrs. Lee Frye, Jr. Mr. William F. Fulcher Mrs. Ellen F. Gabel Mr. and Mrs. James H. Garrett Mr. and Mrs. William P. George Mr. Joseph L. Gilliam Mr. and Mrs. Michael L. Gillin Mr. and Mrs. Gerald A. Gilman Mr. and Mrs. Walter E. Gragg Rev. and Mrs. Howard Gwartney Rev. and Mrs. Shiloh C. Hackett Ms. Debra R. Haddock Mr. Harold B. Hall Mrs. Margaret A. Hampton Mrs. Peggy C. Hampton Dr. and Mrs. Kenneth Hancock Mrs. Rebecca S. Harrell Rev. and Mrs. George Harvey, Jr. Dr. and Mrs. Ian C. Hawkins Mr. and Mrs. Lyman Wayne Hawkins Mrs. Kathryn K. Hayes Mrs. Carolyn Head

Mr. and Mrs. Arnold Heard Mr. and Mrs. Joseph L. Heeter Mr. and Mrs. W. T. Henry Mr. Barney D. Hicks Mrs. Kay M. Hicks Mr. and Mrs. William S. Highsmith Rev. and Mrs. Edwin L. Hill Rev. and Mrs. Gary Hill Mr. and Mrs. Deryl Hodgens Rev. and Mrs. Edward L. Hodges, Jr. Mr. and Mrs. John Holesapple Ms. Carol D. Holland Mr. and Mrs. Cecil J. Hutchinson Ms. Janet L. Jackson Mrs. Marian V. James Mr. and Mrs. James H. Janzen, Jr. Mrs. Jean Johnson Col. and Mrs. Mark Johnson Mr. and Mrs. Peter J. Johnson Mr. and Mrs. Larry G. Jones Mrs. Mary K. Joslin Rev. and Mrs. Jonathon S. Justice Rev. Bruce E. Kimbrel Mr. and Mrs. John H. Kinnick Mr. Gerald R. Kirby Mr. and Mrs. Robert E. Kirven Mrs. Betty Jean Lambert Rev. and Mrs. Earl R. Langley Mr. and Mrs. John Latham, Jr. Dr. and Mrs. Charles L. Lea Mr. and Mrs. Donald G. Lee Mr. G. Thomas Lee Rev. George C. Lee, Jr. Mr. and Mrs. Raymond G. Lee Ms. Shirley Lee Rev. and Mrs. Ernie L. Lewis


Welch College | 2018 Annual Report

Mr. and Mrs. Paul E. Lewis Mr. and Mrs. Tommy E. Lewis Miss Jessie Lindsley Mr. Duane Littlefield Mr. and Mrs. Kenneth N. Lowe Ms. Nancy Z. Maddox Rev. and Mrs. Gary L. Maines Mr. and Mrs. Rick Mayo Mr. and Mrs. Gerald Wade McAlister Mr. and Mrs. Roland L. McBride Mr. and Mrs. John M. McCall Rev. and Mrs. Jerry W. McClary Mr. and Mrs. George N. McClelland Mrs. Debra K. McClure Mr. and Mrs. William W. McCrary, IV Mr. and Mrs. Tracy McElveen Mrs. Olena McLain Mr. and Mrs. Thomas McLoughlin Mr. and Mrs. Samuel P. McVay Mrs. Opal Messer Mrs. Hazel Metcalf Dr. and Mrs. Edward E. Moody, Jr. Mr. and Mrs. Hamlee H. Moon Mr. and Mrs. Bobby R. Moore Mrs. Velma Moseley Mr. John F. Mouser Mrs. Desiree Mullenix Rev. and Mrs. Jeffery L. Nichols Rev. Steve Nichols Mr. and Mrs. Robert D. Norville Ms. Jane P. O'Conner Mr. and Mrs. Sam Oldham Rev. and Mrs. Michael Oliver Mr. and Mrs. John W. Outland Rev. and Mrs. Tim D. Owen

Rev. and Mrs. Jesse F. Owens Mr. and Mrs. Joshua R. Owens Mrs. Frances Parrish Mrs. Mary Dolores Payne Mr. and Mrs. Charles Pellegrino Mr. and Mrs. Lee A. Penn Mr. and Mrs. C. Wayne Perry Rev. and Mrs. Judson Phenicie Mrs. Shirley Phipps Mr. and Mrs. Timothy L. Pierce Mr. and Mrs. Thomas Wayne Pleasant Mr. Daniel A. Plunkett Mr. and Mrs. Jimmie N. Pollock, Sr. Mr. and Mrs. David C. Pool Mr. Joe Postlewaite Rev. and Mrs. Joseph P. Postlewaite Mrs. Leah M. Postlewaite Rev. and Mrs. D. Glenn Poston Mr. and Mrs. David L. Rackley Rev. and Mrs. Jerry L. Rackley Miss Betty Ragsdale Mr. and Mrs. Douglas H. Randlett Mr. and Mrs. Skeeter Redmon Dr. and Mrs. Garnett H. Reid Mr. and Mrs. Mark Reierson Rev. and Mrs. Jose L. Rodriquez Rev. and Mrs. Nathan L. Ruble Mr. Daniel Runion Dr. and Mrs. Roger G. Russell, Jr. Rev. and Mrs. Brad Ryan Drs. Richard and Dorothy Sample Mr. and Mrs. Thad A. Satterfield Mrs. Luella Scudder Mr. and Mrs. Herman B. Shelton Rev. and Mrs. David Shores

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Mr. and Mrs. Michael H. Shute Mr. and Mrs. Bryan Silas Mrs. Anna Marie Simpson Rev. and Mrs. Kenneth D. Simpson Dr. and Mrs. Wright S. Skinner Mr. and Mrs. Paul Errett Smart Ms. Alice F. Smith Mr. Chris Snoddy Mr. and Mrs. Elvin Stacey Mr. and Mrs. John R. Stanley Mr. and Mrs. Gary Stephens Mr. Larry Stephens Mrs. Pamela E. Stidham Mr. Athel A. Stone Rev. and Mrs. Randy Stone

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Mr. James Lester Strickland Mr. and Mrs. Paul D. Tackett Rev. and Mrs. Sonny D. Thomas Mr. and Mrs. Michael T. Thompson Mrs. Phyllis Thorpe Mrs. Dianne Tippett Mr. and Mrs. Danny J. Trail Ms. Sandra Langley Tyre Mr. and Mrs. Kenneth A. Upright Miss Patsy Vanhook Rev. and Mrs. Bill VanWinkle Ms. Mary Vaughn Rev. Billy B. Walker Mr. and Mrs. Stanley L. Wall Dr. and Mrs. W. Jackson Watts

Mr. and Mrs. Robert W. Wells Miss Pamela B. Westerman Mr. and Mrs. Donald G. White Mr. and Mrs. Harold R. Williams Mrs. Janis J. Williams Mr. and Mrs. Kenneth E. Williams Miss Marjorie L. Williams Mrs. LaWanda Williamson Ms. Betty J. Willis Mr. Weston E. Willis, Sr. Mrs. Bonnie Windom Rev. and Mrs. Eugene Workman Mrs. Linda C. Wrightson Mrs. Dale E. Young Mr. and Mrs. Leland T. Zegelien


Welch College | 2018 Annual Report

2017-2018

REVENUES & EXPENDITURES CHANGE IN NET ASSETS: ($406,078)

Expenses

Revenues

Unrestricted Funds

Unrestricted Funds

T OTA L REVENUES

T OTA L EXPENSES

$7,340,446

$7,746,524

Tuition & Fees $2,574,985

Instructional

Welch Fund $1,407,447

Academic Support $599,100

Donation of Private Library $163,000

Student Services$794,237

Other income $43,297

Institutional Support $2,048,899

Investment, endowment, & misc. $77,441

Physical Plant$878,432

Auxiliary $1,389,330

Interest Expense$767,263

Net Assets Released & Reclassifications

Auxiliary$958,152

$1,173,021

$1,700,441

Other Changes in Net Assets$511,925

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.

1045 Bison Trail P. O. Box 479 Gallatin, TN 37066



OUR MISSION E D U C A T I N G L E A D E R S T O S E R V E C H R I S T, H I S C H U R C H , AND HIS WORLD THROUGH BIBLICAL THOUGHT AND LIFE

welch.edu 1.888.97.WELCH 24

Welch College Annual Report // 2018  

The 2018 Annual Report

Welch College Annual Report // 2018  

The 2018 Annual Report