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Bad news for GCU non profit status
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Todor Offline
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Bad news for GCU non profit status
Looks like they haven't quite gotten the stench washed off yet....

https://www.insidehighered.com/news/2019...conversion


Department of Education was one final hurdle and they declared GCU to still be a for profit. No doubt this will drag on for a while.
11-07-2019 05:37 AM
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dbackjon Offline
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RE: Bad news for GCU non profit status
Does GCU have to change their advertising now?

They tout their non-profit status everywhere.
11-07-2019 11:48 AM
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dancingNMSUaggie Offline
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RE: Bad news for GCU non profit status
Supreme Leader Mueller got his hand caught in the cookie jar. They found a little loop hole to be able to call themselves a non profit when in reality they are not. The US Dept of Education caught on and went ahead and corrected it.
11-07-2019 01:15 PM
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Country_Wisdom_359 Offline
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RE: Bad news for GCU non profit status
They’ll make the necessary correction on paper just like they did based on the initial rejection in 2016. Purdue’s acquisition of Kaplan under the Purdue Global label set the precedent.

I see this as just one more step in the process. It’s going to happen. People love to hate on GCU and the ad hoc for profit status. The fact of the matter is that the school used nearly every bit of the investor funds during the initial offering for infrastructure improvements. These resulted in tangible gains for students through increased programs and academic resources.
11-07-2019 03:41 PM
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ProfScott Offline
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RE: Bad news for GCU non profit status
(11-07-2019 03:41 PM)Country_Wisdom_359 Wrote:  They’ll make the necessary correction on paper just like they did based on the initial rejection in 2016. Purdue’s acquisition of Kaplan under the Purdue Global label set the precedent.

I see this as just one more step in the process. It’s going to happen. People love to hate on GCU and the ad hoc for profit status. The fact of the matter is that the school used nearly every bit of the investor funds during the initial offering for infrastructure improvements. These resulted in tangible gains for students through increased programs and academic resources.
Nicely said Wisdom. Time will tell.
11-07-2019 03:52 PM
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dancingNMSUaggie Offline
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RE: Bad news for GCU non profit status
I know Supreme Leader Mueller has indoctrinated you guys that what what Purdue did is the same thing as what GCU did and that is so not true. I’m too tired to explain it to you but it’s so not the same thing.
11-07-2019 04:45 PM
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gleadley Online
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RE: Bad news for GCU non profit status
(11-07-2019 04:45 PM)dancingNMSUaggie Wrote:  I know Supreme Leader Mueller has indoctrinated you guys that what what Purdue did is the same thing as what GCU did and that is so not true. I’m too tired to explain it to you but it’s so not the same thing.

Why would anyone looking for an unbiased, fact-based explanation of a complex matter be interested in anything you have to say? The day you demonstrate an interest or the capacity to have a productive, objective conversation about a highly nuanced subject is the same day Coach Majerle contritely admits his failures and shortcomings as a coach without so much as hinting at an individual or collection of players. I'm honestly not holding my breath for either.
(This post was last modified: 11-07-2019 06:37 PM by gleadley.)
11-07-2019 06:35 PM
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dancingNMSUaggie Offline
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RE: Bad news for GCU non profit status
Looks like you finally get it about Majerle. I’ll let you explain how Purdue University, a long time public institution that has existed as a non profit since 1869 is remotely the same as Grand Canyon University, a for profit, mainly online university that doesn’t even recognize the academic ranking systems every legit university in the United States recognizes. GCU has played a shell game with the rules making sure their corporate members are still lining their pockets and escaping paying taxes they should be paying. Unfortunately for LOPE shareholders US department of Education has caught on. However, I’m not denying that many people with a degree from a for profit or a strictly online university have not gone on to be successful.
11-07-2019 07:12 PM
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Todor Offline
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RE: Bad news for GCU non profit status
It's says in the article that the for profit arm which is still publicly traded, also run by Mueller, takes 60% of their revenue, and will for 15 years. I was shocked by that amount.

I'm waiting for the late night lawyer ads for a class action suit about those deceived by the non-profit part of their advertising.
(This post was last modified: 11-07-2019 09:00 PM by Todor.)
11-07-2019 08:57 PM
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ProfScott Offline
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Post: #10
RE: Bad news for GCU non profit status
(11-07-2019 04:45 PM)dancingNMSUaggie Wrote:  I know Supreme Leader Mueller has indoctrinated you guys that what what Purdue did is the same thing as what GCU did and that is so not true. I’m too tired to explain it to you but it’s so not the same thing.
If you're too tired to explain it to us indoctrinated imbeciles then why even post? Makes no sense. Unless you have an alternative reason. I wonder what that could be?
11-07-2019 09:20 PM
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CrimsonPhantom Offline
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Post: #11
RE: Bad news for GCU non profit status
(11-07-2019 08:57 PM)Todor Wrote:  It's says in the article that the for profit arm which is still publicly traded, also run by Mueller, takes 60% of their revenue, and will for 15 years. I was shocked by that amount.

I'm waiting for the late night lawyer ads for a class action suit about those deceived by the non-profit part of their advertising.

The simplest explanation of GCU's Nonprofit status: Grand Canyon Educational Service, publicly-traded, runs everything at GCU.
11-08-2019 11:32 AM
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ProfScott Offline
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RE: Bad news for GCU non profit status
(11-07-2019 08:57 PM)Todor Wrote:  It's says in the article that the for profit arm which is still publicly traded, also run by Mueller, takes 60% of their revenue, and will for 15 years. I was shocked by that amount.

I'm waiting for the late night lawyer ads for a class action suit about those deceived by the non-profit part of their advertising.
Let me try and explain this in simple terms:
(1) Your uncle owns a company that is worth about 2 billion dollars.
(2) Your uncle agrees to sell this company to you. However, you cannot pay 2 billion dollars because you are just starting out in business.
(3) Your uncle has great faith in you so he still sells you the company with the agreement that you will pay him back over a 15 year period. Your uncle is also taking a huge risk that you will be successful over those 15 years.
(4) You now own a thriving business with name recognition, multiple multi-million dollar buildings, other assets, and a steady flow of income. Congratulations!
(5) However, you are in debt to your nice uncle for $2 billion dollars. You and your uncle work out a financial plan that gives your uncle 60% of income earned for the first 15 years in order for him to get his money back.
(6) Since you are young and new to the business, your uncle also agrees to take on some of the day to day responsibilities of the company during these 15 years. This service is also factored into the 60%.
Both uncle and nephew live happily ever after. The end.
11-08-2019 12:15 PM
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Todor Offline
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RE: Bad news for GCU non profit status
(11-08-2019 12:15 PM)ProfScott Wrote:  
(11-07-2019 08:57 PM)Todor Wrote:  It's says in the article that the for profit arm which is still publicly traded, also run by Mueller, takes 60% of their revenue, and will for 15 years. I was shocked by that amount.

I'm waiting for the late night lawyer ads for a class action suit about those deceived by the non-profit part of their advertising.
Let me try and explain this in simple terms:
(1) Your uncle owns a company that is worth about 2 billion dollars.
(2) Your uncle agrees to sell this company to you. However, you cannot pay 2 billion dollars because you are just starting out in business.
(3) Your uncle has great faith in you so he still sells you the company with the agreement that you will pay him back over a 15 year period. Your uncle is also taking a huge risk that you will be successful over those 15 years.
(4) You now own a thriving business with name recognition, multiple multi-million dollar buildings, other assets, and a steady flow of income. Congratulations!
(5) However, you are in debt to your nice uncle for $2 billion dollars. You and your uncle work out a financial plan that gives your uncle 60% of income earned for the first 15 years in order for him to get his money back.
(6) Since you are young and new to the business, your uncle also agrees to take on some of the day to day responsibilities of the company during these 15 years. This service is also factored into the 60%.
Both uncle and nephew live happily ever after. The end.

Oh, we all got it from the get go... GCU may actually be non profit in 15 years. I take it the potential nonprofit GCU represents the young, new to business child that is such a huge risk. And uncle Guido is the loan shark socking it to you for billions in a scheme to "get his name off the books " while still pulling the strings from behind the scenes. Glad you cleared that up. We all thought as much. Nephew GCU is already 70--how old is this uncle of yours???
(This post was last modified: 11-08-2019 08:38 PM by Todor.)
11-08-2019 08:36 PM
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