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Giving Compass' Take:
· According to Ben Unglesbee, two more Art Institutes controlled by the Dream Center Education Holdings are preparing to close without notifying students or staff. Unglesbee also addresses the issues Dream Center Foundation has faced since opening the Art Institutes and what is to come in the future.
· What opportunities exist for donors to support students who attended these shuttered schools?
At least two more Art Institutes still controlled by Dream Center Education Holdings (DCEH) are slated for closure as uncertainty looms over the organization's remaining schools.
DCEH unloaded eight Art Institutes in a deal with another nonprofit in January. The organization itself and its remaining colleges went into receivership later in the month. DCEH, which is owned by the faith-based Dream Center Foundation, has faced heavy operating losses and mounting problems with creditors and landlords since buying the Art Institutes out of bankruptcy from Education Management Corp. (EDMC) a little more than a year ago.
Most of the other Art Institutes in receivership were already scheduled to close and were teaching out their remaining students. Of the three Art Institutes still operating and enrolling students, two — Las Vegas and Pittsburgh — are expected to close. The closures would wind down all but one of the Art Institutes remaining with DCEH not currently in teach-out mode. As for the remaining school, AI Seattle, it has been barred by its state regulator from enrolling new students after a surety bond expired.
Read the full article about closing DCEH Art Institutes by Ben Unglesbee at Education Dive.