Rasmussen Changes Its Corporate Status

Rasmussen College on Tuesday announced it had changed its corporate status to that of a Public Benefit Corporation, which essentially means the for-profit chain will donate more employee and facility usage time to its local communities. The college will not have a different tax status, however.

Rasmussen is a mid-sized higher education chain with 24 campuses in the Midwest and Florida. Kristi Waite, its president, said the college was making the shift -- which is rare in higher education -- to send a message. She said Rasmussen would lose some money because of the change.