In 2019, Education Principle Foundation (EPF) received $69M in assets along with $36M in liabilities as part of the Dream Center-ED deal.
Both South University and the Art Institute continued to use Studio Enterprise for Marketing, Compliance, and IT. Studio is owned by Colbeck Capital, BN, and other unnamed investors.
EPF's net position changed from $33M to $25M from 2019 to January 2021. In January 2021, EPF's net position was then $25M--with no liabilities.
The Art Institutes have had mixed results. Folks here indicate that some schools have made dramatic cuts. Enrollment at Virginia Beach and Austin do not appear to be sustainable. Students at other schools have been pressured to move online.
It appears that EPF has been trying to sell South University and the Art Institutes. Studio Enterprise has not denied that they have been part of that process.