Nov
13
Posted on 11-13-2007 at 11:06am
Breaking: Belmont Announces Settlement With TBC
Filed Under (Education, Religion & Spirituality) by Katherine Coble on 11-13-2007

The long and fractuous battle between Belmont and The Tennessee Baptist Convention is over.

Belmont University is pleased to announce that it has reached a mutually agreeable settlement of all disputed claims with the Tennessee Baptist Convention. We believe that this resolution honors the many significant contributions that Tennessee Baptists have made to the University and upholds the teachings of Jesus Christ, whom we all seek to serve by ending litigation.

The settlement concludes a 56-year relationship between Belmont and the TBC and provides gifts by Belmont to Tennessee Baptists of $1,000,000 next year followed by annual payments of $250,000 for the next 40 years. These gifts are an expression of gratitude to Tennessee Baptists for the financial and spiritual support that they have provided to the University over the past five decades. The funds will be added to an endowment at the Tennessee Baptist Foundation to support Tennessee Baptist missions and ministries.

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Comments

Chris Wage on 13 November, 2007 at 11:51 am #

Amicable cessation of pending litigation towards a mutually favorable legal agreement for ongoing business in the name of JEEEESUS!! Praise the lord!


saraclark on 13 November, 2007 at 12:28 pm #

Because we all know that Jesus/Tennessee Baptists need $11 million.

Not a bad price for divorce, but I hear that Fisk is looking for someone to date.


GingerSnaps on 13 November, 2007 at 1:15 pm #

Wow, this is the end of an era.

I’m really surprised by the outcome.


sistasmiff on 13 November, 2007 at 1:27 pm #

Belmont was able to become what it has thanks to the money of the Baptists. If it weren’t for the Baptists, it would probably still be Ward-Belmont Finishing School for Girls.


Katherine Coble on 13 November, 2007 at 1:33 pm #

Sista, that’s exactly how I feel about it, too.

They were happy to be funded to their current size by the Tennessee Baptists. Now that they want to cut the apron strings, I think that they should repay at least part of the debt they agreed to when accepting the money initially.


Sarcastro on 13 November, 2007 at 2:30 pm #

I am intrigued by this Finishing School for Girls of which you speak.

Tell me more.


Thomas+ on 13 November, 2007 at 3:06 pm #

You really, really have to hate being Baptist to pay someone millions of dollars for the privilege.


Heather on 14 November, 2007 at 12:02 pm #

I feel this is like a parent asking their child for repayment for all the money given them in their up-bringing. Yes, that money helped Belmont get to where it is, but now that they are so large, being under the thumb of the TBC would prevent them from reaching out into the general community.

I hope my mom doesn’t start billing me for all the money she spent on making me the person I am today :)


Katherine Coble on 14 November, 2007 at 12:04 pm #

If you had signed a contract with your parents promising to pay them back if you ever moved out, then yeah. It’s entirely the same thing.