United Theological Seminary, a United Methodist seminary, announced the sale of unused property to a growing Hispanic congregation. The sale brings the seminary a step closer toward its goal of being debt-free by its 150th anniversary in 2021.
United Theological Seminary is one of the 13 United Methodist seminaries supported by the Ministerial Education Fund apportionment of the United Methodist Church.
United sold the former First United Methodist Church building on Salem Avenue to Iglesia La Luz Del Mundo, a growing Hispanic congregation in Dayton. We are delighted that this historic church building will continue to be used as a place where the Good News of God's amazing grace is experienced and new disciples of Jesus Christ will find new life in Him.
Last year, United's Board of Trustees voted to sell excess property no longer needed for the education of United students. These sales of excess property will make a significant dent in our mortgage debt and move us toward being debt free by our 150th anniversary on October 11, 2021.
We want to thank all who donated funds, which were invested into the former First UMC building. Your generosity helped sell the building, and the proceeds of the sale will reduce United's mortgage. Paying off the mortgage early will save United approximately $2 million in interest that can be invested instead into scholarships and the education of our students.
To date, we have sold farmland to the Sisters of the Precious Blood for $50,000 and the church for net proceeds of $313,000. We hope to sell the three houses and adjacent lots on Salem Avenue by the end of the year.
Thanks to generous donors who have already committed over $953,000 to the Burn the Mortgage Campaign! Now only $2,584,000 remains.
Your gift makes a difference!
Thanks be to God and all the friends and leaders at United who have given generously to enable this seminary to prepare faithful, fruitful leaders to make disciples of Jesus Christ for the transformation of the world.
Dr. Kent Millard, President, United Theological Seminary
One of seven apportioned giving opportunities of The United Methodist Church, the Ministerial Education Fund is at the heart of preparing people for making disciples of Jesus Christ for the transformation of the world. The 13 United Methodist seminaries help students to discover their calling through the challenging curriculum. The fund enables the church to increase financial support for recruiting and educating ordained and diaconal ministers and to equip annual conferences to meet increased demands. Please encourage your leaders and congregations to support the Ministerial Education Fund apportionment at 100 percent.