Dive Brief:
- For-profit education corporation Rasmussen College is becoming a public-benefit corporation.
- One expert says it's the first example he has seen of a public-benefit corporation in for-profit education.
- In Delaware, where Rasmussen is incorporated, public-benefit corporations operate as other corporations but must identify one or more public benefits and must report to shareholders on those benefits.
Dive Insight:
The move is likely to satisfy the school's accreditor, which has called for institutions to demonstrate serving the public good.