[5] TRACS is a significant accreditor of historically black colleges and universities, especially those that have lost their regional accreditation for failing to meet fiscal sustainability obligations.

[9] TRACS required, through at least 2018, all accredited schools to have a statement of faith that affirms "the inerrancy and historicity of the Bible" and "the divine work of non-evolutionary creation including persons in God's image".

While this category "was not considered an official accreditation," Levicoff argued that TRACS lent its name to a number of "blatantly fraudulent institutions.

[22][23] In 1995, a federal review was conducted and National Advisory Committee on Institutional Quality and Integrity placed TRACS on 18 months probation.

"[20] One reason for the probation was TRACS starting the accrediting process for schools that could not meet basic requirements, such as Nashville Bible College, which was granted "accreditation candidate status" when it had twelve full-time students, seven part-time students, and two part-time faculty members.

[26] Subsequently, the approved applicant institution conducts a self-study to evaluate its structure and effectiveness and identify areas for improvement.

[27] TRACS' Statement of Faith outlines the organization's adherence to certain Christian principles, such as the absolute authority of the Bible, as well as the redemptive sacrifice of Jesus.