Thread regarding South University layoffs

How did South University have a $20M operating surplus in 2022?

How is it possible that South University made an operating surplus of $20M in 2022? The year before they had to cut labor costs by $7.5M in order to make a $5M profit. In previous years they lost millions or made less than a $4M profit. And that was with a ton of bailout money.

https://projects.propublica.org/nonprofits/organizations/815128459

https://www.highereducationinquirer.org/2021/12/the-colbeck-scandal.html

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