Dream Center Foundation
We are pleased to share the news that Education Management Corporation, The Art Institutes parent organization, announced a definitive agreement for the sale of its actively enrolling schools to Dream Center Foundation (DCF), a not-for-profit foundation.
This agreement is great news for our schools!
We are in the process of seeking approval by the Department of Education, state regulators, and accreditors, anticipated to be received later this summer.* If approval is granted, we will exist as a not-for-profit, secular, stand-alone entity owned by DCF, giving you and your instructors the chance to learn and teach in an environment that is free from the challenges of the for-profit higher education sector.
Here are some things you should know:
- Students will have the opportunity to continue in the same programs in which they are currently enrolled learning from the same faculty and staff
- The Dream Center Foundation funds programs providing:
- Educational opportunities, 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, and other organizations.
- 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.
For more information about The Art Institutes please contact us.
The transaction is subject to several operational and other closing conditions, including the receipt of regulatory approvals from the U.S. Department of Education, institutional accrediting agencies, state licensing boards and programmatic accreditation bodies.
*In the winter for Illinois Institute of Art-Chicago, Illinois Institute of Art-Schaumburg, The Art Institute of Colorado, and The Art Institute of Michigan, The Art Institute of Philadelphia and The Art Institute of Pittsburgh.