2022 Welch College Annual Report

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welch.edu ANNUAL REPORT 2022

OUR MISSION

Educating leaders to serve Christ, His Church, and His world through biblical thought and life.

2022 PRESIDENT’S REPORT

This past year has been a rewarding year for Welch College. While it has been difficult because of the impact of COVID-19 on the college’s enrollment and finances, Welch has been blessed with increases in every qualitative area of its mission.

QUALITATIVE GROWTH

Despite the difficulties of the pandemic, our wonderful faculty and staff at Welch managed to improve in every measurable metric in the higher education industry. This has caused us, for the first time, to enter the top ten in the U.S. News and World Report’s Best Colleges ranking among the 93 institutions in the Regional Colleges— South category. Most remarkable is that we were ranked #1 in our graduation rate for students from economically disadvantaged backgrounds.

Our comparison to the other 92 institutions in our category gives parents, students, and supporters confidence in the quality and value of a Welch College degree. In addition to having the highest graduation rate for students from economically disadvantaged backgrounds, we ranked #1 in student-faculty ratio and in classes with fewer than 50 students. We ranked #3 in

graduation rate, #5 in classes under 20 students, and #8 in freshman-to-sophomore retention and alumni giving.

Furthermore, our internal data shows that the number of students whose parents are alumni went up. It was 28% this year, more than twice as high as that of most Christian colleges.

In December, our two accrediting bodies, the Southern Association of Colleges and Schools (SACS) Commission on Colleges and the Association for Biblical Higher Education (ABHE) Commission on Accreditation, fully reaffirmed our accreditation for the next ten years. We received a special commendation from ABHE for the faculty, staff, and student support of our mission.

MINISTRY AND SPIRITUAL FORMATION

Given our core mission of educating leaders to serve the church, it was especially gratifying that the number of ministry students went up. This was one of only three categories of enrollment that increased over the past two years when overall enrollment decreased more than 20 percent.

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One of the most exciting developments for this year was the launch of Welch Divinity School and the initiation of the Master of Divinity (M.Div.) program. Twelve students enrolled in the program. It has increased our reputation in the evangelical theological community, on which we want to have an impact. Yet more importantly, it has brought excitement and momentum to our student body.

Our new joint B.A.-to-M.Div. program has dovetailed with the recently initiated $10,000 scholarship for Free Will Baptist pastoral and youth ministry students who are on the ordination track to foster the above-mentioned increase in ministry enrollment. This is crucial in a time when fewer high school students are answering the call to ministry, and those who pursue ministry vocations often choose free or lower-cost community college options closer to home, intending to transfer to Welch after two years. Yet most never do and often never enter the ministry.

This scholarship provides opportunities for Free Will Baptist students who are anticipating a ministry vocation to be in an environment of faith and learning conducive to that goal. It is helping us fulfill the objective that is at the very heart of our mission. We are forming and shaping young ministers of the gospel who are serious about the teaching of Scripture and how it changes lives, who are committed to living out the Great Commission and leading churches to a zeal for the gospel, and who heartily embrace the doctrine, practice, and heritage of the Free Will Baptist Church.

Spiritual formation also took a leap forward this past year as students began to be able to see each other’s faces again and have daily chapel and normal dormitory prayer groups. Student morale was high

this year, especially as compared to last year with masks and social distancing. Spiritual formation, in the context of the shaping of the whole person—thinking Christianly about all of life, feeling deeply about that, and making moral choices that are consistent with it—is at the center of what we do. And it is needed more than ever in a culture that is increasingly devoid of Christian virtue.

This is a difficult time to be involved in Christian higher education.

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I see a new wave of support that will transform our college to move it into the greatest era of growth and fulfillment in its history.

We are in a more secular context in the wider culture than we were twenty years ago when I started as president. This means that our students are coming out of that culture and its schools. We also have lost 40% of the membership of our denomination over the past four decades. All this makes our ministry of Christian higher education challenging.

Still, Welch College is experiencing the blessings of God. In a time when the general trend in dorm students and graduation rates is down in private higher education, our general trend, adjusted for COVID-19, is up. In a trend toward secularism and progressivism in the wider academy and secular culture, our students are responding positively to our education that is selfconsciously steeped in the teaching of Holy Scripture and the Judeo-Christian tradition, as well as the constitutional tradition that has shaped our country.

Our students are growing up here. They are becoming more spiritually mature. They are becoming leaders— ministry leaders for churches and missions around the world and lay leaders who bear witness to Christ across the professions. It is a joy to witness this growth firsthand and to see students take up the mantle of Christian leadership in increasingly difficult times in our culture.

ENROLLMENT AND FINANCES

The pandemic arrested the enrollment and financial growth Welch was experiencing before its onset. In the fall semester before COVID hit, Welch marked its highest fall enrollment in thirty-six years with a headcount of 426. Two years later, this past fall, enrollment had plummeted to just 336. From the 2020 to the 2021 fiscal year, the college’s tuition, room, and board income decreased by around 15%, and from last year to this year it went down about 12%, for a total drop of about 27% in tuition, room, and board revenue over the past two years.

Our general fund—the Welch Fund—stayed on track. However, the Building on the Legacy capital campaign we were in the middle of to fund the construction of the new campus, was hit hard with people wary of making new pledges or unable to fulfill existing pledges.

Yet, in the larger scheme of things, given the dire circumstances of COVID and the fact that many small Christian colleges have been driven out of business by the pandemic, things have gone surprisingly well. In the 2020-2021 fiscal year, for example, we budgeted for a deficit of around $750,000, ending the year with a deficit of only around $90,000. This past year, as a result of a gift-in-kind of real estate, we had a surplus of $1.5 million. Yet even if we had not had that special gift, we still would have been under budget in our deficit.

While our capital campaign has continued to suffer this year, things are beginning to pick back up with the launching of Building on the Legacy The Next Step, and we feel confident next year will be much better. Most importantly, the number of admitted students for the Fall 2022 entering class is back up to pre-COVID norms. While our entering class was in the 50s last fall,

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2022 PRESIDENT'S REPORT

and in the 60s the fall before that, the current number of admitted students suggests we will be back in the 70s this fall. That means next year will begin our ascent back to normalcy and then to growth, though it will take a few years to recover what COVID has taken from us in students, fundraising, and momentum.

Still, there are major donors who want to come alongside Welch whom God has blessed with the financial ability to be a tremendous help to the college. Though COVID, supply chain issues, the microchip shortage, and other economic issues have cut into their reserves and ability to fund charities, they assure us that their businesses are doing well and that they plan to make some very large gifts to the college once things normalize post-COVID. I predict that in the next few years Welch College will enter the most productive season of growth and mission fulfillment in its history.

THANK YOU

Now more than ever, we need your prayers and financial support and your recommendation of Welch to students and their parents. Thank you so much for your continued support of Welch and its mission to educate leaders to serve Christ, His Church, and His world through biblical thought and life.

Sincerely,

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Our students are growing up here. They are becoming more spiritually mature. They are becoming leaders—ministry leaders for churches and missions around the world and lay leaders who bear witness to Christ across the professions.
It is a joy to witness this growth firsthand and to see students take up the mantle of Christian leadership in increasingly difficult times in our culture.

A CHRISTIAN COMMUNITY OF FAITH AND LEARNING

REGIONALLY & NATIONALLY ACCREDITED TO OFFER ASSOCIATE’S, BACHELOR’S, & MASTER’S DEGREES

& WORLD REPORT U.S. News TOP 10 RANKED

BEST COLLEGES IN THE SOUTH

#1 IN GRADUATION RATE FOR ECONOMICALLY DISADVANTAGED STUDENTS

#1 IN CLASSES FEWER THAN 50 STUDENTS

#3 IN GRADUATION RATE

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PROGRAMS OF STUDY

REGISTRATION REPORT

*Multiple students pursuing multiple degrees.

**Pursuing vocational Christian ministry: Pastoral, Youth and Family, and General Christian Ministries.

***This number includes all undergraduate and graduate teacher education students, including those pursuing secondary education, who are also counted in their respective programs of study.

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CLASSIFICATION Freshman 74 Sophomore 55 Junior 56 Senior 50 Graduate (Degree-seeking) ................................................. 43 Non-degree Part-time ......................................................... 32 Dual Enrollment ................................................................ 72 VOCATIONAL* Christian Ministry (Graduate) ............................................ 25 Christian Ministry (Bachelor)** 45 Christian Ministry (Associate) 10 Christian Ministry (Certificate) 18 Missions 9 Biology (TE Licensure: 4) 9 Business 43 English (TE Licensure: 5) 10 Exercise Science (TE Licensure: 1) 15 General Studies 25 History 7 Humanities .......................................................................... 6 Math (TE Licensure: 7) ........................................................ 7 Music (BME Licensure: 3) ................................................... 8 Psychology ......................................................................... 11 Science/Nursing ................................................................. 12 Teacher Education*** ......................................................... 41 Dual Enrollment ................................................................ 72 Other 14 OTHER CATEGORIES Full-time 193 Part-time 178 Male 179 Female .............................................................................. 192 Single ............................................................................... 292 Married .............................................................................. 79 Dorm ............................................................................... 127 Commuter ......................................................................... 48 Residential Graduate 10 Non-residential Graduate 34 Adult Studies 31 Online Studies 49 Dual Enrollment 72 New 86 Transfer 12 Continuing 201 Dual Enrollment 72 Free Will Baptist ............................................................. 196 Other ............................................................................... 175
TOTAL ENROLLMENT: 371
9 WELCH.EDU STATES Alabama .......................................... 11 Arkansas ............................................ 5 California .......................................... 2 Florida 10 Georgia 6 Illinois 8 Indiana 2 Kansas 1 Kentucky ............................................. 4 Louisiana ........................................... 1 Michigan ........................................... 6 Mississippi 6 Missouri 5 New York 1 North Carolina 35 Ohio 5 Oklahoma ......................................... 2 Rhode Island ..................................... 3 South Carolina .................................. 5 Tennessee 220 Virginia 11 West Virginia 3 U.S. Virgin Islands 1 Foreign 18
The student body represents 22 states, 1 U.S. territory, and 6 foreign countries (Bulgaria, Indonesia, Japan, Mexico, Panama, and Spain).

TOP GIVING CHURCHES

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1. Horse Branch Free Will Baptist Church Turbeville SC $37,053.20 2. East Nashville Free Will Baptist Church* Nashville TN $32,850.40 3. Lebanon Free Will Baptist Church Effingham SC $32,533.62 4. Unity Free Will Baptist Church Greenville NC $25,675.04 5. Woodhaven Free Will Baptist Church Woodhaven MI $22,000.00 6. First Free Will Baptist Church Albany GA $20,586.00 7. Bethel Free Will Baptist Church Chapmansboro TN $16,161.10 8. New Hope Free Will Baptist Church Joelton TN $13,050.40 9. Ebenezer Free Will Baptist Church Glennville GA $13,000.00 10. Bethel Free Will Baptist Church Kinston NC $11,550.00 11. Sutton Free Will Baptist Church Pocahontas AR $10,500.00 12. First Free Will Baptist Church Pampa TX $10,000.00 13. Connect Church of Russellville Russellville AR $9,999.91 14. First Free Will Baptist Church Northport AL $8,980.90 15. Garner Free Will Baptist Church Garner NC $7,945.00 16. Timbers Drive Church Dothan AL $7,569.95 17. First Free Will Baptist Church Columbus GA $6,824.00 18. Ina Free Will Baptist Church Ina IL $6,675.00 19. West Calvary Free Will Baptist Church Smithfield NC $6,532.77 20. Porter Free Will Baptist Church Wheelersburg OH $6,509.00 21. Tippett’s Chapel Free Will Baptist Church Clayton NC $6,001.28 22. First Original Free Will Baptist Church Jacksonville NC $6,000.00 23. Grace For The World Ministries Dickson TN $6,000.00 24. Bethany Free Will Baptist Church Timmonsville SC $5,883.00 25. Calvary Free Will Baptist Church Colquitt GA $5,633.32 26. Calvary Fellowship Free Will Baptist Church Fenton MO $5,475.00 27. Pine Level Free Will Baptist Church Alma GA $5,415.00 28. Free Will Baptist Church of Red Bay Red Bay AL $5,353.08 29. Bethlehem Free Will Baptist Church Ashland City TN $5,311.00 30. Peace Free Will Baptist Church Wilson NC $5,000.04 31. Ryanwood Fellowship Free Will Baptist Church Vero Beach FL $4,925.00

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.

32. Bear Point Free Will Baptist Church Sesser IL $4,850.00 33. First Free Will Baptist Church Vernon AL $4,839.62 34. Sherwood Forest Free Will Baptist Church New Bern NC $4,823.59 35. Heads Free Will Baptist Church Cedar Hill TN $4,713.00 36. Cross Timbers Free Will Baptist Church Nashville TN $4,601.95 37. Liberty Free Will Baptist Church Lawley AL $4,592.54 38. Blue Point Free Will Baptist Church Cisne IL $4,422.00 39. Liberty Free Will Baptist Church Marion NC $4,348.00 40. Macedonia Free Will Baptist Church Millport AL $4,300.00 41. Immanuel Free Will Baptist Church Durham NC $4,168.00 42. First Free Will Baptist Church Beaufort NC $4,046.24 43. White Oak Hill Free Will Baptist Church Bailey NC $4,010.00 44. Connect Church Tupelo MS $4,000.00 45. Temple Free Will Baptist Church Winterville NC $3,900.00 46. Cofer's Chapel Free Will Baptist Church Nashville TN $3,790.00 47. Peace Free Will Baptist Church Florence SC $3,780.00 48. Sand Hill Free Will Baptist Church Coward SC $3,680.00 49. Mt. Harmony Free Will Baptist Church Vernon AL $3,624.77 50. Corinth Free Will Baptist Church Alma GA $3,600.00 51. First Free Will Baptist Church Seffner FL $3,600.00
*Funds received from an endowment

O SEND OUT THY LIGHT AND THY TRUTH

FOUNDATION GIFTS & CORPORATE DONORS

$100,000+

Kern Family Foundation

National Christian Foundation

$50,000 - $99,999

Do Unto Others Trust

$10,000 - $49,999

FirstBank

Ming Wang with Wang Vision

National Financial Services, LLC

Newberry Family Foundation, Inc.

Pioneer College Caterers, Inc.

St. James Properties

UBS Financial Services, Inc.

$1,000 - $9,999

AW Healthcare Management, LLC

Basketball Destinations, LLC

Bone McAllester Norton, PLLC

Clayton Properties Group, Inc.

Edward Jones

Fidelity Brokerage Services, LLC

Fidelity Charitable Gift Fund

Free Will Baptist Foundation

Howard R. Price Trust

L. Tyson and Sons, Inc.

Merrill Lynch

Music Performance Trust Fund

NHC Place, Sumner

Pacific Life

Raymond James Global Account

Rogers Group, Inc.

Sumner Regional Medical Center

The Goddard School

Wilson Bank & Trust

Under $1,000

Alvy’s Auto Electric

Amazon Smile

Bank of Tennessee

Cardinal Computer Corp.

Christian Brothers Automotive

Gallatin Chamber Foundation

Kroger Grocery Store

Lewis Letterworks

Reed Financial Group, Inc.

ReliaStar Life Insurance Company

The Benevity Community Impact Fund

TriStar Hendersonville Medical Center

White & Associates Management, LLC

YourCause, LLC

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TOP GIVING ASSOCIATIONS

WELCH FUND GIFTS

15 WELCH.EDU Tennessee ............................................................... $72,157.08 Alabama ................................................................ $43,093.97 Missouri $32,438.36 Arkansas ................................................................. $22,229.80 Oklahoma ............................................................. $22,128.32 Mississippi $14,016.74 Georgia $10,594.40 Texas ........................................................................ $6,543.40 Ohio $5,442.81 Central (AR) $2,996.66 Illinois ..................................................................... $2,963.02 South Grand River (OK) $2,448.02 Georgia ............................................................... $491,599.28 Tennessee $348,712.76 North Carolina $151,967.91 South Carolina .................................................... $145,397.72 Florida................................................................. $137,519.18 Alabama $106,168.57 Missouri ................................................................ $74,512.86 Arkansas ................................................................ $49,112.90 Oklahoma $43,047.03 New Mexico .......................................................... $35,661.14 Mississippi ............................................................. $35,456.71 Illinois $34,721.60 Michigan ............................................................... $31,034.54 Texas ..................................................................... $17,593.40 Ohio $17,379.90 Kentucky $12,142.96 West Virginia .......................................................... $8,697.28 Nebraska $5,000.00 California ................................................................ $4,465.62 Canada $4,374.88 Virginia $4,059.74 Washington ............................................................. $2,588.00 Idaho ....................................................................... $2,000.00 Arizona $1,304.42 New Jersey .............................................................. $1,300.00 U.S. Virgin Islands .................................................. $1,119.27 Indiana $1,049.44 Other ...................................................................... $1,001.83 Colorado .................................................................... $840.00 Louisiana $800.00 Pennsylvania ............................................................... $500.00 Oregon ....................................................................... $286.83 Delaware $283.72 Hawaii $250.00 Kansas .......................................................................... $48.34

DONORS

FOUNDER’S CIRCLE

$100,000+

Glen L. Roberts Estate

Mr. and Mrs. Phillip D. Faircloth

PRESIDENT’S CIRCLE

$20,000 - $99,999

Mr. and Mrs. James W. Beasley

Mr. and Mrs. Glenn A. Harris

Mr. and Mrs. Edward E. Pittman

Mr. and Mrs. J. Wayne Salyer

LEGACY CIRCLE

$10,000 - $19,999

Dr. and Mrs. Michael Bernui

Mr. and Mrs. Robert T. Bryan

Mr. Zenis R. Childress

Mrs. Christine L. Daniel

Mr. and Mrs. Thomas Douglas

Mr. and Mrs. Clyde M. Goen

Rev. and Mrs. David H. Williford

HERITAGE CIRCLE

$5,000 - $9,999

Dr. David L. and Congressman Diane Black

Ms. Gale Cales

Ms. Vicki Cherry

Mr. and Mrs. Benjamin S. Evans

Mr. and Mrs. Barney D. Hicks

Mr. and Mrs. Jimmy L. Holley

Mr. Fred T. Keifer, Jr.

Mr. and Mrs. Jason King

Mr. and Mrs. Jerry L. Moore

Mr. and Mrs. Mike Price

Mr. Nolan E. Purcell

Mr. Stephen Purser

Mr. and Mrs. Thomas A. Sass

Mr. and Mrs. Donald L. Smith

Mr. and Mrs. Clifton C. Waller

EXECUTIVE CIRCLE

$2,500 - $4,999

Rev. and Mrs. James T. Beck

Mr. and Mrs. Michael G. Belesky

Mr. and Mrs. James J. Conley

Chaplain and Mrs. Robert P. Cooper

Rev. and Mrs. William W. Evans

Capt. and Mrs. Edmond B. Ferguson

Mr. and Mrs. Ronald W. Ferrell

Mr. Jules Hancart

Mr. and Mrs. Carol K. Harvey

Dr. and Mrs. Paul Inbody

Mr. and Mrs. Tracy Kerr

Dr. and Mrs. Paul G. Ketteman

Mr. and Mrs. James Maute

Mr. and Mrs. James W. McBride

Rev. and Mrs. Donnie I. Miles

Drs. Greg and Etta Patterson

Dr. and Mrs. J. Matthew Pinson

Mr. and Mrs. Eddie Richardson

Mr. and Mrs. Willis R. Shimel, Jr.

Mr. and Mrs. Donald Southerland

Mr. and Mrs. Gary W. Wright

LEADERSHIP CIRCLE

$1,000 - $2,499

Mrs. Janie M. Aldridge

Mr. and Mrs. J. W. Allen

Rev. and Mrs. Billie Charles Barlow

Mr. Edwin L. Beem

Mr. Randall T. Blades

Mr. John W. Bryan, Sr.

Rev. and Mrs. Tommie D. Carlson

Mr. and Mrs. James R. Carr

Mr. T. Ross Clark

Rev. and Mrs. Russell Clouse

Dr. and Mrs. Jeffrey A. Crabtree

Dr. Stan A. Culpepper

Mr. and Mrs. William H. Day

Mr. and Mrs. Daniel M. Dean

Dr. Milton B. Fields

Mr. Darrell L. Fulton

Mr. and Mrs. James S. Futrell

Mr. and Mrs. Joseph A. Goodfellow

Mr. and Mrs. John A. Gorrell

Ms. Carolyn F. Head

Mr. and Mrs. Jimmy Hunter

Ms. Regina D. Ivens

Rev. and Mrs. Bobby R. Jackson

Col. and Mrs. Mark Johnson

Ms. Lenore Jones

Mr. David E. Kimbrough

Mr. Robert Kowalke

Dr. and Mrs. C. Thomas Malone

Mrs. Patricia McCutcheon

Mr. Kenneth Millen

Rev. and Mrs. Henry W. Miracle

Dr. and Mrs. Charles Z. Moore

Mrs. Juanita Nicholson

Rev. and Mrs. Jerry Nunes

Mr. and Mrs. Thomas H. Oster

Rev. and Mrs. Tim Owen

Mrs. Frances Parrish

Rev. and Mrs. Todd Parrish

Mrs. Shannon S. Pavnick

Dr. Robert E. Picirilli

Mr. and Mrs. John W. Pinson

Mr. and Mrs. John C. Powelka

Dr. and Mrs. Roger G. Russell, Jr.

Rev. and Mrs. Brad Ryan

Mr. and Mrs. Carl D. Short

Mrs. Karen M. Sparks

Mr. and Mrs. Greely D. Stafford

Chaplain and Mrs. Kerry M. Steedley

Rev. and Mrs. Steven L. Swango

Mr. Gregory P. Swensen

Chaplain and Mrs. Roy C. Swisher

Mr. and Mrs. Mark Tart

Rev. Billy B. Walker

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Ms. Pamela B. Westerman

Mr. and Mrs. Harold R. Williams

Mr. and Mrs. Marvin E. Willoughby

Dr. Melvin Worthington

Dr. and Mrs. Milton Worthington

Dr. and Mrs. Frederick L. Yerby

Mr. and Mrs. John G. Zubor

FRIENDSHIP CIRCLE

$250 - $999

Mrs. Josephine S. Adams

Mr. and Mrs. A. C. Allen

Rev. and Mrs. Derek Altom

Mr. and Mrs. Michael L. Armstrong

Mr. and Mrs. Phillip Ashcraft

Rev. and Mrs. Leonard C. Ball

Ms. Julie M. Banner

Ms. Molly Barker

Rev. and Mrs. Joseph W. Beckon

Ms. Frances C. Bell

Rev. and Mrs. Paul G. Bevan

Mr. and Mrs. Mitch Beverly

Mrs. LaDonna Blades

Rev. and Mrs. Ronnie Blanks

Mrs. Verla Blowe

Mr. and Mrs. Max Bolin

Mr. and Mrs. Rodney D. Bowen

Mr. and Mrs. Richard W. Bowers

Ms. Hilda J. Boyd

Mr. and Mrs. Burl Brewer

Mr. and Mrs. James O. Brewer

Mrs. Patsy Brooks

Mr. and Mrs. David L. Brown

Donald Brown Memorial Endowment

Mr. Joe C. Brown

Ms. Kay F. Brown

Ms. Mindy Brown

Mr. and Mrs. Edgar J. Brumfield

Mr. and Mrs. Larry N. Bryan

Mr. and Mrs. Preston F. Bryan

Mr. and Mrs. Robert T. Bryan

Mr. and Mrs. Paul R. Bryant

Rev. and Mrs. Randy Bryant

Dr. and Mrs. Seldon Buck

Mr. and Mrs. Robert Burroughs

Mr. and Mrs. Kevin Buttry

Rev. and Mrs. Timothy G. Campbell

Mrs. Betty Capps

Mrs. Gwen Carraway

Mr. and Mrs. John L. Carter

Mr. and Mrs. Robert T. Carter

Mr. and Mrs. Robert V. Castile

Rev. and Mrs. Jeffrey L. Caudill

Mr. and Mrs. David O. Chamberlin

Mr. and Mrs. Dennis A. Chamberlin

Ms. Doris Jean Chamberlin

Mrs. Donna Clark

Mr. and Mrs. Gary F. Clark

Mrs. Kay Clark

Mrs. Elaine P. Coates

Dr. and Mrs. Jeffrey L. Cockrell

Mrs. Mary Ann Coker

Mr. and Mrs. Ted E. Collier

Rev. and Mrs. Chris Compton

Mr. and Mrs. Charles F. Cox

Dr. and Mrs. James Cox

Mr. and Mrs. Benjamin C. Crabtree

Mrs. Rhoda Creech

Lt. Col. and Mrs. Larence R. Cusick

Mrs. Margaret Daniels

Mr. and Mrs. Marvin L. Deaver

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Mr. and Mrs. Paul R. Drake

Mr. and Mrs. Edward E. Driggers

Mr. and Mrs. Laron L. Dye

Dr. and Mrs. Kenneth P. Eagleton

Mr. and Mrs. Stephen P. Eagleton

Mr. and Mrs. Michael T. Easley

Dr. and Mrs. Mike Edwards

Rev. and Mrs. Gregory R. Fawbush

Rev. and Mrs. Justin Feight

Mr. and Mrs. Waymon Fields

Mr. and Mrs. Kelly Folsom

Mr. Charles A. Francen

Mr. Robert Freeman

Mr. and Mrs. Joseph E. Gilliam

Mr. and Mrs. Michael L. Gillin

Mrs. Lena T. Golding

Rev. and Mrs. Walter E. Gragg

Mr. and Mrs. Richard Carl Gregory

Mr. Branton Grimes

Rev. and Mrs. Shiloh C. Hackett

Ms. Debra R. Haddock

Mr. Harold B. Hall

Rev. and Mrs. Joseph Hall

Mr. Thurman B. Hall II

Mr. and Mrs. Watson Hall

Mr. and Mrs. Kenneth M. Hampton

Mrs. Margaret A. Hampton

Ms. AnnaGee C. Harris

Mrs. Kathryn K. Hayes

Rev. and Mrs. Edwin L. Hill

Rev. and Mrs.Edward L. Hodges, Jr.

Ms. Carol D. Holland

Mrs. Betsy Horner

Rev. and Mrs. Russell D. Houske

Ms. Barbara Jean Howard

Mr. and Mrs. Zachary A. Howell

Mrs. Rudene J. Hucks

Ms. Charity D. Humbles

Mr. and Mrs. Brian T. Hurst

Mrs. Marian V. James

Mr. and Mrs. Samuel F. Johnson

Mr. and Mrs. Ernest Joyce

Rev. and Mrs. Jonathon S. Justice

Mr. and Mrs. Kevin M. Justice

Ms. Bernadene Little Kemble

Dr. and Mrs. James Kilgore

Mr. Gerald R. Kirby

Mrs. Betty Lambert

Rev. and Mrs. Earl R. Langley

Mr. Dennis Latshaw

Mr. and Mrs. Donald G. Lee

Ms. Shirley Lee

Mrs. Carolyn H. Lemaster

Rev. and Mrs. Ernie Lewis

Mr. and Mrs. James A. Lewis

Mr. Jonathan Lewis

Mr. and Mrs. Tommy E. Lewis

Rev. Duane Littlefield

Rev. Thomas A. Lovett

Mr. Charles Maness

Dr. and Mrs. Jeffery A. Manning

Mr. and Mrs. Matthew Markins

Dr. and Mrs. Matthew J. McAffee

Mr. and Mrs. Roland L. McBride

Mr. Carl D. McCabe

Mr. and Mrs. John M. McCall

Mr. Bill F. McKinney

Mrs. Olena McLain

Mr. and Mrs. Samuel P. McVay

Mrs. Frances King Metcalf

Mr. Larry Miley

Mrs. Sammie Montgomery

Mr. and Mrs. Hamlee H. Moon

Rev. and Mrs. Phillip T. Morgan

Mrs. Velma L. Moseley

Rev. and Mrs. Steve Nichols

Mr. John E. O’Neal

Dr. and Mrs. William Stanley Outlaw

Mr. and Mrs. Jared A. Owen

Dr. and Mrs. Jesse F. Owens

Mr. and Mrs. Joshua R. Owens

Rev. and Mrs. Frank Owens, Jr.

Mr. and Mrs. Lee A. Penn

Mr. and Mrs. Malcolm Peterson

Rev. and Mrs. Judson Phenicie

Mr. and Mrs. Timothy L. Pierce

Mr. Daniel A. Plunkett

Mr. and Mrs. David C. Pool

Rev. and Mrs. Joseph P. Postlewaite

Mr. and Mrs. David L. Rackley

Rev. and Mrs. Jerry L. Rackley

Mr. and Mrs. Skeeter Redmon

Mr. and Mrs. John W. Riddle, Jr.

Mr. and Mrs. Stephen Rigdon

Rev. and Mrs. Ivan L. Ryan

Mr. Darryl Scott

Rev. and Mrs. Theron B. Scott

Mr. and Mrs. William R. Scurlock

Ms. Ramona Kaye Sessoms

Rev. and Mrs. David Shores

Mr. Jimmy J. Simons

Rev. and Mrs. Kenneth D. Simpson

Mr. and Mrs. Thomas L. Slamans

Mr. Daniel L. Smith

Mr. and Mrs. Ryan Smith

Mr. and Mrs. Wayne E. Spruill

Mr. and Mrs. John R. Stanley

Mr. and Mrs. Gary Stephens

Mr. Larry Stephens

Mr. and Mrs. Terry L. Stephens

Mr. and Mrs. Paul D. Tackett

Mr. and Mrs. Christopher Talbot

Rev. and Mrs. Jim B. Taylor

Mr. and Mrs. Stephen R. Teague

Mr. and Mrs. Michael T. Thompson

Mrs. Dianne Tippett

Mr. and Mrs. Danny J. Trail

Ms. Patsy Vanhook

Mr. and Mrs. Frankie S. Walker

Mr. Stanley L. Wall

Mr. and Mrs. Eric Watkins

Dr. and Mrs. W. Jackson Watts

Mr. and Mrs. Taylor E. Watts, Jr.

Ms. Barbara Williams

Ms. Donna Williams

Ms. Marjorie L. Williams

Mr. and Mrs. Michael Williford

Ms. Betty J. Willis

Rev. and Mrs. Eugene Workman

Mrs. Linda C. Wrightson

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DONORS

BOARD OF TRUSTEES

MR. MIKE ARMSTRONG

Secretary

Educator

Wheelersburg, OH

DR. WILL BEAUCHAMP

Vice Chairman

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. TIM CAMPBELL

Pastor, First Free Will Baptist Church

Walnut Ridge, AR

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

REV. BRAD RYAN

Pastor, Ina Free Will Baptist Church

Ina, IL

REV. THERON SCOTT

Pastor, Horse Branch Free Will Baptist Church

Turbeville, SC

REV. CHRIS TRUETT

Pastor, Bethel Free Will Baptist Church

Kinston, NC

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A TRADITION OF EXCELLENCE. A FUTURE OF OPPORTUNITY.

TORCHBEARER CLUB

Mr. and Mrs. Willie V. Adams

Mr. and Mrs. A. C. Allen

Mr. and Mrs. J. W. Allen

Rev. and Mrs. Derek Altom

Alvy’s Auto Electric

Mr. and Mrs. Phillip Ashcraft

Rev. and Mrs. Leonard C. Ball

Ms. Julie Banner

Ms. Molly Barker

Rev. and Mrs. Joseph W. Beckon

Mr. Edwin L. Beem

Mrs. LaDonna Blades

Rev. and Mrs. Ronnie Blanks

Mr. and Mrs. Max Bolin

Mr. and Mrs. Rodney D. Bowen

Mr. and Mrs. Richard W. Bowers

Mr. Matt and Dr. Sarah Bracey

Mr. Eric A. Brant

Mr. and Mrs. Burl Brewer

Mrs. Patsy Brooks

Mr. Joe C. Brown

Mr. and Mrs. David L. Brown

Donald Brown Memorial Endowment

Ms. Mindy Brown

Mr. and Mrs. Edgar J. Brumfield

Mr. and Mrs. Robert T. Bryan

Mr. and Mrs. Larry N. Bryan

Rev. and Mrs. Randall A. Bryant

Rev. and Mrs. Paul R. Bryant

Dr. and Mrs. Seldon Buck

Mr. and Mrs. Robert Burroughs

Mr. and Mrs. Kevin Buttry

Ms. Gale Cales

Rev. and Mrs. Timothy G. Campbell

Mrs. Betty Capps

Mr. and Mrs. James R. Carr

Mrs. Gwen Carraway

Mr. and Mrs. Robert V. Castile

Rev. and Mrs. Jeffrey L. Caudill

Miss Doris J. Chamberlin

Mrs. Donna Clark

Mrs. Kay Clark

Mr. T. Ross Clark

Mr. and Mrs. Gary F. Clark

Rev. and Mrs. Russell Clouse

Mrs. Elaine P. Coates

Dr. and Mrs. Jeff Cockrell

Rev. and Mrs. Christopher J. Compton

Cove City Free Will Baptist Church (NC)

Mr. and Mrs. Charles F. Cox

Ms. Rhoda Creech

Mr. Gregory Croxton

Mr. and Mrs. Daniel M. Dean

Mr. and Mrs. Marvin L. Deaver

Decatur First Free Will Baptist Master’s Men

Ms. Gwen Dismuke

Mr. Thomas Douglas

Mr. and Mrs. Paul R. Drake

Mr. and Mrs. Edward E. Driggers

Ms. Carol R. Dubose

Mr. and Mrs. Laron L. Dye

Mr. and Mrs. Stephen P. Eagleton

Dr. and Mrs. Kenneth P. Eagleton

Ebenezer Free Will Baptist Church (FL)

Dr. and Mrs. Mike Edwards

Rev. and Mrs. William W. Evans

Rev. and Mrs. Gregory R. Fawbush

Mr. and Mrs. Ronald W. Ferrell

Dr. Milton B. Fields

Mr. and Mrs. Waymon Fields

Mr. and Mrs. Kelly Folsom

Mr. and Mrs. James S. Futrell

Mr. and Mrs. Michael L. Gillin

Mr. and Mrs. Joseph A. Goodfellow

Mr. and Mrs. John A. Gorrell

Mr. and Mrs. Richard C. Gregory

Rev. and Mrs. Shiloh C. Hackett

Ms. Debra R. Haddock

Mr. Harold B. Hall

Rev. and Mrs. Joseph Hall

Mr. and Mrs. Watson Hall

Mr. Jules Hancart

Ms. AnnaGee C. Harris

Ms. Carolyn F. Head

Mr. and Mrs. Barney D. Hicks

Rev. and Mrs. Edward L. Hodges, Jr.

Ms. Carol D. Holland

Mrs. Betsy Horner

Rev. and Mrs. Russell D. Houske

Ms. Barbara Jean Howard

Ms. Charity D. Humbles

Mr. and Mrs. Jimmy Hunter

Mr. and Mrs. Brian T. Hurst

Mrs. Marian V. James

Col. and Mrs. Mark Johnson

Mr. and Mrs. Nathan Paul Johnson

Rev. and Mrs. Jonathon S. Justice

Mr. and Mrs. Kevin M. Justice

Dr. and Mrs. Paul G. Ketteman

Dr. and Mrs. James Kilgore

Mr. Gerald R. Kirby

Rev. and Mrs. Earl R. Langley

Ms. Shirley Lee

Mr. and Mrs. Donald G. Lee

Mrs. Carolyn Hasty Lemaster

Rev. and Mrs. Ernie L. Lewis

Mr. and Mrs. Tommy E. Lewis

Mr. Jonathan Lewis

Rev. Duane Littlefield

Rev. Thomas A. Lovett

Ms. Nancy Z. Maddox

Mr. Charles K. Maness

Dr. and Mrs. Jeffrey A. Manning

Mrs. Eunice R. Massengill

Mr. and Mrs. Rick Mayo

Dr. and Mrs. Matthew J. McAffee

Mr. and Mrs. James W. McBride

Mr. and Mrs. John M. McCall

Mr. Bill F. McKinney

22 WELCH COLLEGE | ANNUAL REPORT 2022
An education at Welch College changes the lives of the students. It also changes the lives of the people they influence for years to come. Welch College students, alumni, and faculty carry the commitment to serve Christ beyond our campus by reaching people in our community, nation, and the farthest points on the globe.

Mrs. Olena McLain

Mr. and Mrs. Samuel P. McVay

Mrs. Frances King Metcalf

Mr. Kenneth Millen

Rev. and Mrs. Wayne Miracle

Mrs. Sammie Montgomery

Mr. and Mrs. Hamlee H. Moon

Mr. and Mrs. Phillip T. Morgan

Mrs. Velma Moseley

Ms. Debra Motte

Rev. and Mrs. Steve Nichols

Mrs. Juanita S. Nicholson

Rev. and Mrs. Jerry Nunes

Mr. John E. O’Neal

Mr. and Mrs. Thomas H. Oster

Rev. and Mrs. Tim D. Owen

Mr. and Mrs. Jared A. Owen

Mr. and Mrs. Joshua R. Owens

Rev. and Mrs. Jesse F. Owens

Rev. and Mrs. Frank Owens, Jr.

Rev. and Mrs. F. Todd Parrish

Drs. Greg and Etta Patterson

Mrs. Shannon S. Pavnick

Mr. and Mrs. Lee A. Penn

Rev. and Mrs. Judson Phenicie

Dr. Robert E. Picirilli

Mr. and Mrs. Timothy L. Pierce

Mr. and Mrs. John W. Pinson

Dr. and Mrs. J. Matthew Pinson

Mr. and Mrs. David C. Pool

Rev. and Mrs. Joseph P. Postlewaite

Mr. and Mrs. John C. Powelka

Mr. Nolan E. Purcell

Mr. and Mrs. David L. Rackley

Mr. and Mrs. Skeeter Redmon

Rev. and Mrs. Brad Ryan

Rev. and Mrs. Ivan L. Ryan

Mr. and Mrs. Thomas A. Sass

Rev. and Mrs. Theron B. Scott

Mr. Darryl Scott

Mr. Walter R. Scott

Mr. Jimmy J. Simons

Rev. and Mrs. Kenneth D. Simpson

Mr. and Mrs. Ryan Smith

Mrs. Karen M. Sparks

Mr. and Mrs. Wayne E. Spruill

Mr. and Mrs. John R. Stanley

Mr. and Mrs. Gary Stephens

Mr. and Mrs. Terry L. Stephens

Mr. Larry Stephens

Mr. and Mrs. Paul D. Tackett

Mr. and Mrs. Christopher Talbot

Mr. and Mrs. Jim B. Taylor

Mr. and Mrs. Stephen R. Teague

Mr. Casey Telling

Mrs. Dianne Tippett

Mr. and Mrs. Danny J. Trail

Ms. Patsy Vanhook

Rev. and Mrs. Bill VanWinkle

Mr. Stanley L. Wall

Mr. and Mrs. Eric Watkins

Dr. and Mrs. W. Jackson Watts

Ms. Donna Williams

Mr. and Mrs. Harold R. Williams

Rev. and Mrs. David Williford

Mr. and Mrs. Michael Williford

Ms. Betty J. Willis

Rev. and Mrs. Eugene Workman

Mr. and Mrs. Gary W. Wright

Mrs. Linda C. Wrightson

T ORCHBEARERCLU B WELCH COLLEGE

REVENUES & EXPENDITURES

24 WELCH COLLEGE | ANNUAL REPORT 2022 REVENUES Unrestricted Funds EXPENSES Unrestricted Funds TOTAL REVENUES $9,870,089 TOTAL EXPENSES $8,369,075 Tuition and Fees $2,166,418 Welch Fund $1,606,986 Unrestricted Gifts—Large/One-time $2,060,740 Estate Gifts $513,086 Government Grants and Contracts............... $740,982 Other Income $28,189 Investment, Endowment, and Misc. $53,504 Auxiliary Enterprises $1,038,311 Changes in Net Assets (Operating Activity). $1,603,329 Changes in Net Assets (Nonoperating Activity). ...... $58,545 Instructional $1,815,174 Academic Support $630,929 Student Services $1,205,224 Institutional Support ................................ $2,324,508 Plant Maintenance $739,234 Interest Expense $772,523 Auxiliary $881,483
1045 Bison Trail Gallatin, TN 37066 welch.edu | 1.888.97.WELCH

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