LOS ANGELES, Oct. 17, 2017 /PRNewswire/ — The Dream Center Foundation announced Tuesday the completion of the transfer of assets of several of the nation’s most well-known for-profit higher education institutions. South University, Argosy University, Western State College of Law and Art Institutes campuses will now be operated as nonprofit institutions continuing their focus on education, student outcomes and community involvement.
“We are pleased to announce the completion of this transfer,” said Dream Center Foundation managing director Randall Barton. “We are thrilled the various regulatory agencies looked favorably upon our vision to refocus these schools exclusively on providing quality and accessible education empowering people throughout our nation. These schools have been serving communities across America for more than 100 years, and they have a bright future ahead of them.”
South University, Argosy University, Western State College of Law and Art Institutes collectively have 56 campuses in more than 30 cities and more than 44,000 students as well as over 5,000 employees and approximately 6,000 adjunct faculty members. Each institution offers courses online and on campus, and together they offer more than 100 programs of study in everything from health and behavioral sciences to business, education and digital arts.
University operations will be managed by Dream Center Education Holdings (DCEH), LLC under chief executive officer Brent Richardson. Richardson has a long career in higher education as former CEO and chairman of the board for Grand Canyon University (GCU). Richardson was the catalyst for the turnaround of GCU, which now has over 85,000 students and employs over 5,000 people. Richardson’s focus will be student-centered and based on student outcomes.
Barton continues, “We believe the relationship between the schools and the Dream Center Foundation will allow these schools to continue to provide students with an excellent education and strengthen their sense of social responsibility. Nothing transforms an individual's life more quickly than a quality education.”
Dream Center service partners are spread throughout the United States and can provide enriching opportunities for students to serve in their communities. As a not-for-profit DCEH will raise donations to contribute to programs that provide scholarships for the underserved.
“Education has always been a central focus of the Dream Center Foundation,” said Matthew Barnett, founder of the Dream Center in Los Angeles and president of the Dream Center Foundation. “These institutions will remain nonsectarian providers of quality higher education, but we hope that this new season will bring an expanded vision and an opportunity for graduates to realize their own dreams while living a life in service of the dreams of others.”
The Dream Center Foundation announced its intent to complete the transfer of the institutions earlier this year.
Note: The acquisition of The Art Institute of Pittsburgh, The Art Institute of Philadelphia, The Art Institute of Colorado, The Art Institute of Michigan, and The Illinois Institute of Art is expected to occur in late 2017 following a final regulatory review.
The Dream Center Foundation funds programs providing educational opportunity, emergency food and medical services, transitional housing for homeless families, youth and veterans as well as support for victims of human trafficking through its principal partner, the Dream Center Los Angeles. Each month more than 50,000 people are assisted in Los Angeles alone, and countless others through its network in 41 states and 21 countries. The founder and president of the Dream Center Foundation is Pastor Matthew Barnett.Dream Center Education Holdings website: https://www.dcedh.org/
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