Princeton Seminary Approves $27M In Reparations
The seminary approved the reparations in recognition of its historical ties to slavery.
The Princeton Theological Seminary is setting aside a little more than $27 million in response to an historical audit that shows the seminary benefited from slavery.
A total of $27.6 million will be set aside to fund reparations in response to an audit of a 2018 report that shows the seminary invested in southern banks in the mid-19th century and received investments from donors who owned slaves, the seminary announced.
It didn’t own slaves, and no buildings were constructed using slave labor, according to the seminary. However, founding faculty and leaders have been found to have used slaves at some point in their lives, and several of the first professors and board members were deeply involved in a group that advocated sending free black people to Liberia.