In response to the request of the Kale Heywet Church, the Evangelical Theological College was found in March 1983 as a ministry of the International Evangelical Church (IEC) in cooperation with Serving In Mission (SIM) under the name IEC Evening Classes to meet the need for biblical, theological, and ministerial training in the many evangelical churches and fellowships in Addis Ababa. Classes were held on the SIM compound where the IEC held its services.

 In 1988 the name was changed to the IEC Bible Institute, and the first graduation, granting a Diploma of Theology, was held. In 1990 a constitution that created a board of governors was adopted and the school became a candidate for accreditation with the Accrediting Council for Theological Education in Africa.

 In 1994 full accreditation was granted. In addition, the Kale Heywet Church was acknowledged as the owner of ETC with the general oversight of the College. A new board was formed. This board of trustees, the primary level of government, consisted of four members from KHC, three members from SIM, three members from IEC and three members from Ethiopian Evangelical Churches of Ethiopia (ECFE). In 1995 ETC moved off the SIM Compound to its present site, which it shares with IEC.

ETC began as a two-classroom college and library catering to about 20 students. There are now ten classrooms, administrative and faculty offices, a lounge, a split-level Library, and a chapel. The student body has grown to over 300 registered students in one semester.

 The day-to-day operations of the college are directed by the Principal who is advised by an Administrative Council which is composed of members of the College’s administration and faculty.