FREE WILLBAPTIST BIBLE

COLLEGEANNUAL REPORT 2000-2001

or sixty years Free WillBaptist Bible College has

been fulfilling its mission “to equipmen and women, through Bible-basededucation, to serve Christ and HisChurch.” The college is entering a new erawith momentous challenges. In order to facethese challenges, we must maintain a healthy balance between tradition and innovation.

We want to be a truly Christian community of faith and learning, a communitywhere Scripture serves as the foundation for allteaching and learning, a community whereChristian teachers and Christian studentscome together to search out and find God’struth and apply that truth to the whole of life. The Great Commission motivates us toeducate ministers, missionaries, and othervocational Christian workers to proclaim theGood News of salvation in Christ to a dyingworld. The Great Commandment motivates us to educate laypeople to serve God and their neighbor, living out the gospel in a non-church related career and endeavoring totake every thought captive to the obedience of Christ.

The financial condition of the collegehas presented an enormous challenge. Weentered the 2001-2002 academic year with aten-year-low enrollment of 281. This severelyaffected our financial condition: we faced a$600,000 budget deficit. That deficit has been greatly reduced in two ways. First, ourdedicated faculty and staff drastically cut the

college’s operating expenditures. This reduction in our operating budget was neithereasy nor painless, but I commend our facultyand staff for it. Second, our supporting churches, alumni, and friends responded to our need by increasing their giving by an amazing 18% over the previous year. Our sincerest thanks go to our faculty and staff atFWBBC and our supporters in the denomination. Without all of you, we couldnot have dealt with this financial concern.

Because of the downward trend inenrollment and the resulting financial difficulties the college is facing, as well as thewithdrawal of Watkins Institute’s offer to purchase our current campus, the Board ofTrustees has voted to postpone relocation until some of these problems can be addressed.Money given for relocation has been wellinvested. The progress and work that hasoccurred up to this point will enable us, whenthe time is right, to proceed with relocation.Funds received for relocation will continue to be wisely invested. We are poised forgrowth, and relocation is still a part of ourlong-range plan.

F

A New Era

As you know, in March Brother TomMalone became chancellor of the college and Iassumed the position of president. I am honored to be the fifth president of Free WillBaptist Bible College and will seek to buildwisely on the labors of L. C. Johnson, L. R.Ennis, Charles A. Thigpen, and C. ThomasMalone.

Noticeable changes are occurring oncampus. We are renovating several of our olderbuildings. We have begun repaving our parkinglots. We are reconditioning and landscapingour grounds. We want everything we do toreflect a desire for excellence.

The beauty of our current campus willcomplement our endeavor to build our studentbody. We are intensifying our efforts to recruitnew students and retain our current students.Please call 1-800-76-FWBBC and give us thenames and contact information of students who are prospects for enrollment at the college.Your help in student recruitment will enable usto prepare students to further the kingdom ofGod in the many fields of service to which Hehas called them.

In that regard, we are retooling ourPastoral Ministry program to meet the needs of Free Will Baptist churches. The shrinkingnumber of pastors for our churches makes ourefforts vitally important. We are makingchanges in the Pastoral Ministry program tomake it more effective and relevant for theneeds of Free Will Baptists today. Chief amongthese changes is the addition of adjunct andvisiting faculty members who are currently pas-toring growing Free Will Baptist churches. Anew brochure describing our Pastoral Ministryprogram is now available.

Our continued emphasis on preparingharvest field laborers for world missions is evidenced by our renovation of a new mission-in-residence home. Free Will Baptist ForeignMissions provides us with a missionary-in-residence each year. This project, which is

being done with the financial help of theForeign Missions Department, will help usensure that world missions remains a major priority at FWBBC.

We are also continuing to explore newprograms to equip lay people as servant-supporters in our local churches and senders of our missionary force. This fall we will beginoffering the coursework for a major in History,and we are committed to gain state teacherlicensure in History as well. We want all ourstudents-those studying for pastoral ministry,those preparing for missionary service, and allthe rest in their various fields-to be wellequipped for the warfare in which they will be engaged.

In order to secure additional scholar-ship funding for our students, we are seekinggrants from private foundations and othersources. We have obtained the services of aprofessional grant writer with broad experiencein the funding of Christian higher education.

As always, we cannot continue to doour job without your help. By praying for us, bysupporting us financially, by sending students tous, you enable us to do the job of equipping ourstudents to find their places of service in thechurch and in the world.

Thank you for the opportunity to servethe National Association of Free Will Baptists.Please let us know how we can better serveyou, your families, and your churches.

Respectfully submitted,

J. Matthew PinsonPresident

Board Of Trustees

Term Expires 2002Rev. Larry Montgomery (secretary)Pastor, First Free Will Baptist Church, Glennville, Georgia.Rev. Billy Gene Outland Pastor, Hazel Dell Free Will Baptist Church, Sesser, Illinois.Rev. Archie Ratliff, Pastor Bethel Free Will Baptist Church, Kinston, North Carolina.

Terms Expire 2004Dr. Steve Ashby Professor, Ball State University, Muncie, Indiana.Rev. Billy Hanna Pastor, First Free Will Baptist Church, Albant Georgia.

Terms Expire 2006Rev. Richard BarnesPastor, Providence free Will Baptist Church, Hampton, Virginia.Rev. Gary Fry (chairman)Pastor, First Free Will Baptist Church, Mountain Grove, Missouri.Mr. A. C. AllenBusinessman, Effingham, South Carolina.

Budget for the Year Ending May 31, 2003

Revenues:

Tuition & Fees

Gifts:Together/Capital CampaignEstates & MiscellaneousGrants & Foundations

Endowment incomeInvestment incomeSales & Services of auxiliary enterprises

Other sources:Nets assets released from restrictions

Total revenues:

Expenditures:

Educational & General:InstructionAcademic SupportStudent ServicesOperation & Maintenance of plantInstitutional support

Total educational & general expenditures

Auxiliary enterprisesExpenditures:

Total expenditures

2,007, 200

1,300,00076,500

100,000

4,0008,000

1,090,390

75,000

1,153,826412, 573522, 114455,041

1,176,740

3,720,294

940,796

$ 4,661,090

$ 4,661,090

FWBBC has been especially blessed by its supporters through ahealthy increase in general fund unrestricted gifts for 2001-2002.

In spite of a downturn in the economy and the tragedy of September 11, 2001,unrestricted gifts were up a near-miraculous 20.68%! No large gift(s) made the difference. Rather, it was an increase in regular giving, although the number of people who signed up for monthly bankdrafts was a tremendous help. This happened when scores of other non-profits were reporting serious shortfalls in their gift budgets for the same period.

God’s increased gift provision through our friends has helped FWBBC’s operational needs in a mighty way.

Thomas A. SassTreasurer

Total General Fund Gifts10-Year Summary

General Fund Gifts & Goals

State

AlabamaArkansasArizonaCaliforniaColoradoConnecticutDelawareFloridaGeorgiaIowaIdahoIllinoisIndianaKansasKentuckyLouisianaMassachusettsMarylandMaineMichiganMissouriMississippiNorth CarolinaNebraskaNew MexicoNew YorkOhioOklahomaPennsylvaniaSouth CarolinaSouth DakotaTennesseeTexasUtahVirginiaVirgin IslandsWashingtonWisconsinWest VirginiaWNACCanadaMatching GiftsOther

GRAND TOTAL

2001-2002 Gifts

$75,178.31$77,451.66$796.91$15,284.08$1,550.00$00.00$1,215.00$32,277.91$85,822.95$1,111.57$0.00$34,350.83$6,318.64$1,201.39$1,5931.18$270.00$25.00$1,416.60$0.00$18,914.65$43,740.88$22,142.35$158,867.07$50.00$371.47$120.00$18,708.57$23,360.84$344.0$11,0288.10$50.00$242,926.96$29,828.34$100.00$20,464.20$800.00$1,149.60$45.00$6,871.54$3,162.01$151.64$54,725.00$1,795.00

$1,109,179.25

Gift Goals 2002-2003

$72,600$80,960$1,460$7,080$720$1,560$2,240$34,920$80,520$720$100$28,640$7,000$360$17,160$1,520$120$600$1,680$32,280$50,760$22,080$200,710$360$360$0$18,840$22,140$600$65,640$100$275,480$10,000$0$20,000$1,440$840$50$7,520$5,520$840$0$24,480

$1,100,000

ANNUAL REGISTRATION REPORT 2001-02

Enrollment........................................................306

Enrollment Breakdowns by:

Classifications:Freshmen...........87Sophomores.......98Juniors............... 64Seniors...............54Special.................3

States:Alabama............19 Mississippi................7Arizona................1 Missouri...................7Arkansas............23 North Carolina...... 19California............3 Ohio........................4Florida................12 Oklahoma................6Georgia..............16 South Carolina......10Illinois................23 Tennessee................91Indiana.................7 Texas........................5Kansas..................3 Virginia...................12Kentucky..............6 Virgin Islands...........1Louisiana..............1 West Virginia...........3Michigan............11 Foreign (8).............16

(Albania, Brazil, Canada, France, Japan, Korea, Spain, Zimbabwe)

Other Categories:New...................58 Male............160 Dormitory........202Returning..........19 Female.........146 Town...............104Continuing......189Transfer..............37 Full-time......255 Single............. 259Special.................3 Part-time........51 Married.............47

Free Will Baptist..........272Other..............................34

*Major:Pastoral.............40 Other Majors.......181YM/CE..............27 Undecided.............21Missions............34 Special.....................3

The student body represents 23 states and 8 foreign countries.

* Please be aware that student majors can change from semester to semester.

Students who enroll at FWBBC have access to extensive

pools of financial aid. The following figures show the amount

of aid the college awarded to students in the past five years.

*This total reflects additional aid awarded after information was submitted for the Digest of Reports.

Financial Aid Summary1997-2002

Top Churches - $3,000 or more

First Free Will Baptist ChurchHorse Branch Free Will Baptist ChurchDonelson Free Will Baptist ChurchFirst Free Will Baptist ChurchUnity Free Will Baptist ChurchLebanon Free Will Baptist ChurchProspect Free Will Baptist Church Bethel Free Will Baptist ChurchCofer’s Chapel Free Will Baptist ChurchNew Hope Free Will Baptist ChurchSciotodale Free Will Baptist ChurchImmanuel Free Will Baptist ChurchEbenezer Free Will Baptist ChurchBethel Free Will Baptist ChurchBethany Free Will Baptist ChurchRed Bay Free Will Baptist ChurchAshland City Free Will Baptist ChurchIna Free Will Baptist ChurchHead’s Free Will Baptist Church Garner Free Will Baptist ChurchSherwood Forest Free Will Baptist Church Bethlehem Free Will Baptist ChurchPeace Free Will Baptist ChurchFirst Free Will Baptist ChurchCross Timbers Free Will Baptist ChurchFellowship Free Will Baptist ChurchFirst Free Will Baptist ChurchLiberty Free Will Baptist ChurchFirst Free Will Baptist ChurchMt. Elon Free Will Baptist ChurchFirst Original Free Will Baptist ChurchFirst Free Will Baptist ChurchTemple Free Will Baptist ChurchFirst Free Will Baptist ChurchFirst Free Will Baptist Church Ryanwood Fellowship FWB ChurchFirst Bible Free Will Baptis ChurchPiney Grove Free Will Baptist ChurchRocky Pass Free Will Baptist ChurchWoodbine Free Will Baptist Church Patmos Free Will Baptist ChurchOakwood Free Will Baptist ChurchWesterville Free Will Baptist Church First Free Will Baptist ChurchZephyr Hills Free Will Baptist ChurchPorter Free Will Baptist ChurchTupelo Free Will Baptist ChurchNorthport First Free Will Baptist ChurchWest Wayne Free Will Baptist ChurchFellowship Free Will Baptist ChurchOak Ridge First Free Will Baptist ChurchBallew’s Chapel Free Will Baptist ChurchWestside Free Will Baptist ChurchVictory Free Will Baptist ChurchGood Springs Free Will Baptist ChurchPardue Memorial Free Will Baptist ChurchGlasgow First Free Will Baptist ChurchArnold View Free Will Baptist ChurchOak Grove Free Will Baptist ChurchPeace Free Will Baptist Church

Albany, GeorgiaTurbeville, South CarolinaNashville, TennesseeRussellville, ArkansasGreenville, North Carolina Effingham, South Carolina Dunn, North CarolinaKinston, North Carolina Nashville, Tennessee Joelton, TennesseePortsmouth, OhioDurham, North CarolinaGlennville, GeorgiaAshland City, TennesseeTimmonsville, South Carolina Red Bay, AlabamaAshland City, TennesseeIna, IllinoisCedar Hill, TennesseeGarner, North Carolina New Bern, North CarolinaAshland City, TennesseeWilson, North CarolinaFlorence, AlabamaNashville, Tennessee Park Hills, MO Mountain Grove, MOMarion, North CarolinaDothan, AlabamaPamplico, South CarolinaJacksonville, North CarolinaBristol, VirginiaGreenville, North CarolinaJesup, GeorgiaWashington, North CarolinaVero Beach, FloridaNew Castle, Indiana Chipley, FloridaMarion, North CarolinaNashville, TennesseeLeary, GeorgiaWoodlawn, TennesseeWesterville, OhioRichmond, Virginia Asheville, North CarolinaWheelersburg, OhioTupelo, Mississippi Northport, AlabamaWayne, MichiganKingsport, TennesseeOak Ridge, TennesseeGrubbs, ArkansasJohnsonville, South CarolinaGoldsboro, North Carolina Pleasant View, TennesseeClarksville, Tennessee Glasgow, KentuckyMarion, IllinoisGreeneville, TennesseeFlorence, South Carolina

$26,783.00 $23,426.86 $20,365.64 $20,110.88 $16,441.64 $15,835.77 $15,115.20 $14,470.00 $11,099.00 $10,118.14 $10,000.00 $9,167.00 $8,430.00 $8,337.19 $7,856.00 $7,658.21 $7,188.06 $7,069.00 $6,168.46 $5,865.00 $5,787.44 $5,732.00 $5,538.70 $5,379.75 $5,140.55 $5,090.00 $5,075.00 $5,006.12 $4,906.89 $4,866.57 J$4,768.45 $4,760.00 $4,685.74 $4,633.42 $4,625.00

$4,615.50 $4,597.72 $4,568.21 $4,320.00 $4,267.63 $4,200.00 $4,148.55 $4,044.53 $3,980.24 $3,963.63 $3,904.02 $3,746.56 $3,717.58 $3,670.00 $3,600.00 $3,593.28 $3,500.00 $3,470.99 $3,427.61 $3,409.44 $3,248.56 $3,215.00 $3,206.92 $3,189.06 $3,040.00

In Memorium

Dr. L. C. Johnson1914-2002

1.800.76.FWBBC Toll free1.615.269.6028 Fax

www.fwbbc.edu3606 West End Avenue, Nashville, TN 37205