Because of this, the university will continue to be treated as a for-profit entity for the purposes of its participation in federal financial aid programs. Grand Canyon University also serves around 19,000 students at its physical campus in Phoenix, Ariz., which was transferred to Grand Canyon University under the $875-million deal. Grand Canyon University, a private Christian school in Phoenix, is returning to nonprofit status – which it last held in 2004. Grand Canyon University Foundation Phoenix, AZ. Urdan said Grand Canyon University is in a strong enough position to ride out the bad news, which is likely to hurt its share price today. Grand Canyon isn't the only former for-profit operator to become an education services provider. Purdue University, a big public, buying Kaplan University, which is a for-profit. Yet observers seemed to think that the deregulation-minded Trump administration would back the move, as it did with Purdue and others. With that transition comes a new business model, questions about the transformative effect such a … Grand Canyon University announced Friday that the school’s request to switch to nonprofit status has been denied. Grand Canyon said Wednesday that it will challenge the department’s move to treat it as a for-profit under federal aid laws. Grand Canyon University officials announced Tuesday that the school's accreditor has approved their application to convert to a non-profit. DQ week 2 Some non-profit organisations are receiving funds and they don't earn profits like normal business. The university’s parent company, Grand Canyon Education Inc., sold the school to the Grand Canyon University Board of Trustees for approximately $875 million, GCU President Brian Mueller announced at a press conference. Learn about benefits. Brian Muller, the university's president and CEO, said the move contemplates "the best long-term interests of students, faculty and staff, the community and … Perhaps more threatening to Grand Canyon's plan is the authorities, namely the IRS, which will examine the new, nonprofit university to make sure it is fully independent of the for-profit company. Is grand canyon university owned by the mormon church - Nov 16, Grand Canyon University has decided not to accept a $20 million of Latter-day Saints (LDS), or the Mormon church, recently announced it. Under a 15-year contract, Grand Canyon Education provides a wide range of outsourced support services to the university in exchange for 60 percent of its tuition and revenue. Claim your profile for free. By Lana Sweeten-Shults GCU News Bureau. Grand Canyon University, a giant in for-profit education, has returned to its nonprofit roots. One reason is that Mueller presides over both entities, which critics call a conflict of interest. “Holy shit,” Trace Urdan, a managing director at Tyton Partners and an expert on the for-profit higher education sector, said of the news. On Wednesday, GCU received notice from the department that the GCE-GCU transaction was approved, allowing GCU to participate in federal financial aid programs through June 30, 2022. In 2018, the for-profit company, Grand Canyon University, Inc., sold GCU’s assets to a nonprofit, Gazelle University, for $853.1 million. The Department of Education did not respond to a request for information on its decision. Mueller said the provisional status was automatic because the transaction was a change in control of the university. The company attributed the 24.3% increase primarily to its January acquisition of Orbis Education, a company that supports health-care education programs, and the increase in GCU enrollment. 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