Although the seminary, founded in 1812, did not own slaves, it has conceded after a two-year study that it benefited from a slave economy through investments in Southern banks, as well as donations from wealthy men who profited from slavery. Among one of the findings in the report dated October 2018: The seminary’s founding faculty and officials supported the American Colonization Society campaign to send freed African Americans to Liberia rather than accept them as equal citizens in the United States.