The Institute of Lutheran Theology Board of Directors conducted their winter meeting on Tuesday February 26th and Wednesday February 27th. The winter board meeting is a time for the board to receive a report from the president about the progress of the institution for the current academic year, to conditionally approve graduations from May, and to review and update the strategic plan.
The board gladly received the report from the president. The president reported that ILT is on target for its budget. Tuition revenue came in well over the budgeted projections and expenses are within the budget amounts. The institution is in a very strong position it makes the transition in the second half of its academic year. There is much to be thankful for from donors, faculty/staff, and students for the blessing we have this year.
Six students (1 MAR, 1 MDiv, and 4 PMC) were approved to graduate in May under the condition they successfully complete their last semester. These were reviewed and commended to the board by the ILT faculty. These students are all currently working in congregations or Christian ministries and will continue this work after graduation. This gives ILT almost 70 graduates from its various certificates and degrees.
One important task of the board for this meeting was to review and adopt the new strategic plan which included a revamped institutional vision, values, and priorities. These will help give direction to the planning and decision making that goes into the next year’s institutional plans and budget. There is much work yet to be done at ILT, and the strategic plan will help accomplish those tasks.
We would like to share with you the vision, values, and priorities of ILT:
The Institute of Lutheran Theology will be a leading center for classical theological study in the Lutheran tradition that, consistent with the Great Commission, holds the scandal of the cross before the church and the world through (1) its students and graduates, (2) its participation in the ecumenical theological enterprise, and (3) its pioneering efforts in lay, undergraduate, seminary, and graduate education.
We are bold in asserting the truth of the gospel.
ILT confesses with ultimate urgency the gospel of Jesus Christ once delivered to the saints, as it is proclaimed in the Holy Scripture and confessed in the Lutheran Symbolic Books, without compromise or abridgement.
“For I am not ashamed of the gospel; it is the power of God for salvation to everyone who has faith. . .” (Romans 1:16)
We are bound in our submission to the cross of Jesus.
ILT does not glory in possessing truths about Jesus Christ, but is captured by the truth of Jesus Christ, and him crucified.
“I decided to know nothing among you except Jesus Christ, and him crucified.” (1 Corinthians 2:2)
We are open in listening to all who may contribute to the theological task.
ILT is committed to freedom of inquiry and expression in service to understanding and proclaiming the truth of the gospel.
“We take every thought captive to obey Christ.” (2 Corinthians 10:5)
We are critical in our examination of all truth claims.
ILT fosters the right use of reason and demands intellectual honesty from all members of its community.
“Do not be conformed to this world, but be transformed by the renewing of your minds, so that you may discern what is the will of God—what is good and acceptable and perfect.” (Romans 12:2)
We are independent in carrying out our mission.
ILT is not captive to any external restrictions but is free to serve the whole church and the world at large with integrity and faithfulness.
“I have become all things to all people, that I might by all means save some.” (1 Corinthians 9:22b)
We are hospitable in serving our students.
ILT seeks to make the excellent theological education available to students, regardless of their location or circumstances.
“We are putting no obstacle in anyone’s way, so that no fault may be found with our ministry.” (2 Corinthians 6:3)
Enrollment Growth--Implement a comprehensive plan for enrollment management
Financial Health--Develop a sustainable business model
Academic Advancement--Optimize growth in academic programs
External Relations--Cultivate additional external support and partnerships
Leadership Development--Build a leadership/teaching team for the future
Thank you to all board members for the generosity and helpfulness!