2013 ACICS Annual Report

ANNUAL REPORT

ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS

Every — school, student, nation, culture — tells a story

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Impacting Education Quality Internationally

Enhancing Student Achievement Through Accountability

Students’ Stories

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Opportunities to Shape Thought

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Leadership Message

06 By the Numbers: Strength through Activity, Renewal

Financial Statements and Independent Auditor’s Report

Engaging Thought Leaders

2013 Accredited Institutions

Annual Conference Photo Gallery

38 2013 Council Members

LEADERSHIP MESSAGE

Dear Member Institutions: In preparing for the enduring demand for quality career education, 2013 represented significant opportunities and substantial achievements for ACICS and its member institutions. Not every milestone will be greeted with great fanfare, but assembling a solid foundation for the future requires the placement of one brick at time, thoughtfully and with great care.

The Council established new higher benchmarks for student achievement in 2013, building on solid quality assurance enhancements made in 2012. Member institutions responded to the stronger standards by accessing more knowledge regarding best practices, paring back marginal programs and reconfiguring operations so that every campus is more tightly conscribed around quality and performance.

No one understands the strong expectations of quality and performance better than our colleges and schools. They also appreciate that while the expectations can be vexing, the struggle toward defensible quality is honorable, and that those engaged in the struggle are noble, professional and competent.

The foundation of quality serves ACICS well as it grows its international presence and impact. Once again in 2013, a number of international institutions sought accreditation from ACICS. While these institutions are authorized and recognized in their own countries, they seek ACICS accreditation because they want to improve their overall quality and be recognized globally, especially in the U.S. As ACICS moves forward globally, it will continue to develop and revise standards to reflect the variations between nations. It will work to establish expectations that transcend individual government requirements.

As the quality assurance enterprise of ACICS and its multi-national community of institutions continue to grow in the second year of its second Century, members can take comfort in the solid foundation of performance, accountability and transparency.

Those strengths serve us well.

Brian Stewart Chairman, Board of Directors

Albert C. Gray, PhD President & CEO

Albert C. Gray, PhD, President & CEO (left); Brian Stewart, 2013 Chairman of the Board of Directors (right)

IMPACTING PACTING EDUCATION QUALITY Expansion by ACICS of its international accreditation enterprise accelerated in 2013, driven in part by two unrelenting forces: demand for applied, career-focused post-secondary education in industrialized as well as developing nations; and hunger for quality assurance that is based on the standards and traditions of post-secondary education in the U.S. For many reasons and by many measures, ACICS colleges and schools are serving students in a meaningful and valuable manner. The world is paying attention.

In response to that demand, ACICS now provides quality assurance to colleges and schools in Central America, Africa, Southeast Asia and Scandinavia, as well as in Western Europe, Canada and the Caribbean. Students in 12 international countries now benefit from the expectations of quality and integrity applied by evaluation teams mustered by ACICS. The expansion of ACICS international operations has prompted a review of some policies and practices to better accommodate the diverse and competing requirements of other nations. Those revisions will produce subtle but material changes to standards that are more applicable and defensible on an international basis, while preserving the expectations of quality and integrity manifest in the U.S. system of higher education.

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NALLY - The Art Institute of Vancouver - Everest College of Business, Technology and Healthcare (Sudbury, Toronto, Hamilton, Newmarket, Hamilton, Barrie, Brampton, Nepean, Windsor, Scarborough, Kitchener, Toronto, Ottawa, Mississauga)

Niels Brock Copenhagen Business College Copenhagen, Denmark Ontario, Canada

Schiller International University Schiller Heidelberg, Germany International University Paris, France

- Trillium College Kingston - Trillium College Ottawa American International College of Arts & Sciences, St. John’s, Antigua Westhill College Mexico City, Mexico

International College of the Cayman Islands Newlands, Cayman Islands

Schiller International University Madrid, Spain American University, Bosnia & Herzegovina Tuzla, Bosnia And Herzegowina Stratford University New Delhi, India Niels Brock at Foreign Trade University Hanoi, Vietnam California Miramar University Nairobi, Kenya

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ACICS completed the five-year cycle of re-recognition in 2013. It received formal extension of its authority from the U.S. Department of Education. Coupled with the reaffirmation by the Council for Higher Education Accreditation (CHEA) in 2012, ACICS’s policies, practices, capacity and performance as a reliable authority on institutional quality and integrity have been rigorously tested – and affirmed – by two independent recognition entities.

Member institutions were directly impacted by the cycle of accountability. The Council harnessed re-recognition to strengthen its quality assurance enterprise through higher standards, stronger reliability of performance data and greater transparency. New student achievement standards established in 2012 were enhanced and applied to the 2013 Campus Accountability Report data. The higher expectations of retention, placement and licensure exam pass rates reflect the Council’s sustained focus on ensuring that students attending member institutions achieve academically, experientially and economically through the term of enrollment and beyond.

Accountability alone is necessary and expected. However, when accountability is linked to thoughtful, rigorous quality review, the value to students – and the institution – rises to a higher level.

ENHANCING STUDENT A THROUGH ACC 4

OUNTABILITY 5

National College Grad Publishes in Medical Journal Tim Hansberger, a certified surgical technologist (CST) and graduate of National contributed the article, “Treating Glioblastoma Multiforme,” to The Surgical Technologist journal. He chose the topic for his capstone project because his mother succumbed to the disease. The article explained how the medical team treated the disease. Hansberger hopes the information may help others who are victims of the same type of cancer. Formerly,

Community Service Transcends Borders Students from Humacao Community College of Puerto Rico were recognized by the global organization “Enactus” for their excellence in community service. Their project, “Up from the Bottom,” involves helping small businesses to develop, poor countries and schools to comply with students' academic achievements, and municipal projects aimed at protecting the environment. The HCC project was selected among many from other universities 6

in Puerto Rico. HCC students traveled to Mexico to receive the recognition where hundreds of students from throughout the world presented their community projects in a global competition. Students of HCC served as ambassadors of the island, presenting Puerto Rican culture and traditions to thousands of international students and industry leaders.

Hansberger was a volunteer firefighter and emergency medical technician (EMT).

When his wife became ill, he decided to pursue a position in the medical field.

One of his favorite classes, Anatomy and Physiology, was taught by Mary Alice Tutwiler and Karen Sherback. “Karen was the one who really encouraged me to [write] the article,” he said. “She gave me instructions on how to improve it.”

‘NewSchool’ Design Students Win First Place A team of NewSchool of Architecture and Design students won first place at the Sukkah Design Expo 2013 for their design of a temporary structure called a sukkah that commemorates the agricultural harvest and has significant meaning for the Jewish community. The event was sponsored by the Leichtag Foundation as part of events marking the Jewish Sukkot harvest festival tradition in September.

Students designed and built the project as part of a summer studio class at NSAD led

by Instructor Chuck Crawford. The student team included Gwynn Beasley, Nour Kassam, Trang Nguyen, Thomas Quaas and Jessica Vences. The NSAD student team received a $1,800 cash prize for their winning entry, which was chosen through a public vote.

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OPPORTUNITIES TO SHAPE THOUGHT The phenomenon of underemployment continues to vex the nation’s economic recovery. Each week new perspectives are offered about the plight of young adults who have recently entered the workforce and struggled to access employment opportunity commensurate with their aspirations, abilities and needs. In 2013 ACICS and the National Journal utilized the context of underemployment for a policy discussion on workforce development and the role of effective post-secondary education in closing the skills – and employment – gap. The underlying research, commissioned by ACICS, complemented the research project of 2012, “Workforce Skills Reality Check.” Both research projects have been shared with policy audiences across the country during the last two years. The summary findings and authoritative sources are available through www.acics.org .

ACICS also developed and shared with policy makers its recommendations regarding the role of accreditation and opportunities for enhancements during the reauthorization of the Higher Education Act. Whitepapers exploring a myriad of accreditation issues from a policy perspective are also available at www.acics.org .

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LEADERS 10

One the eve of the reauthorization the federal Higher Education Act, ACICS reached out to key policy makers and those who influence policy to participate in dialogue with member institutions. Representatives of more than 200 ACICS member colleges and schools were present during the 2013 Conference and Annual Meeting in Jacksonville when U.S. Rep. Virginia Foxx, chair of the House Higher Education Subcommittee, presented her perspectives and insights.

The policy focus on accreditation and quality assurance is pronounced and sustained in the current environment. The scrutiny is applied to regional and national accrediting organizations, reflecting a broad review of the effectiveness and affordability of the entire higher education community.

Conferees also had access to substantive workshops on a variety of topics related to quality and integrity, including Institutional Effectiveness, Retention and Placement, Learning Outcomes, Recruitment and Admissions, Placement Verification and Consumer Disclosures.

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BY THE NUMBERS ERS

Strength through Activity, Renewal 14

By the Numbers The 960+ colleges and schools accredited by ACICS are part of a dynamic, energetic sector that is constantly reinvent-

ing itself to better meet the needs of post-secondary students and their subsequent employers. The creativity, inventiveness and agility of the education providers create challenges and opportunities for the accreditation provider. In 2013, ACICS rose to those challenges by becoming more active than ever in reviewing the educational activities and substantive changes of colleges and schools.

Summarized on the tables below are some of the key numeric indicators of the breadth and depth of the ACICS enterprise in 2013. The frenetic pace of operations requires sufficient resources and capacity to deliver consistently on the promise of quality. The tables also summarize some of the milestones reached in 2013 in collaboration with ACICS’s partners in quality: member colleges and schools.

361

SITE VISITS CONDUCTED BY ACICS STAFF AND EVALUATORS

5,798 TOTAL NUMBER OF APPLICATIONS PROCESSED. - 5,092 PROGRAM-RELATED - 706 NON-PROGRAM RELATED

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2013 Milestones

INITIAL GRANTS OF ACCREDITATION WERE GRANTED IN 2013

Workshops

Initial Accreditations

34

Renewal Accreditations User Services

560 6,503

Revenue Increase Over Budget $2,000,000+ Net Assets Increase

$150,000+

Staff Growth

Approximately 10%

Evaluators Recruited & Trained

Approximately 150 Current Total 1,260 June 2013 15 Day Turn Around

No.

Enrollment

Initial Accreditation

4

117

Department of Education Re-recognition

Renewal Accreditation

13

375

Improved Reimbursement Management

Retention & Placement

4

150

CEP/CAR

1

21

AWARE Webinars

3

1,281

Evaluator Training

7

87

Annual Conference

1

360

Developed/Implemented Programmatic Standards Maintained Full 15 Member Council with Diversity

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Financial Statements and Independent Auditor’s Report June 30, 2013

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INDEPENDENT AUDITOR’S REPORT Board of Directors Accrediting Council for Independent Colleges and Schools CERTIFIED PUBLIC ACCOUNTANTS

STOKES & COMPANY, P.C. 1201 15TH STREET. NW SUITE 340 WASHINGTON, D.C. 20005-2842 (202) 293-9000 FAX (202) 293-9666 WWW.STOKESPC.COM

LARRY F. STOKES. C.P.A .

MEMBERS AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PRIVATE COMPANIES PRACTICE SECTION GOVERNMENTAL AUDIT QUALITY CENTER EMPLOYEE BENEFIT PLAN AUDIT QUALITY CENTER

We have audited the accompanying financial statements the Accrediting Council for Independent Colleges and Schools (ACICS), which comprise the balance sheet as of June 30, 2013, and the related statements of activities and cash flows for the year then ended, and the related notes to the financial statements.

Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. The prior year summarized comparative balance sheet has been derived from ACICS’ 2012 balance sheet and, in our report dated November 26, 2012; we expressed an unqualified opinion on those financial statements.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made my management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Accrediting Council for Independent Colleges and Schools as of June 30, 2013, and the change in its net assets and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

STOKES & COMPANY, P.C. Washington, D.C. November 21, 2013 17

ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Balance Sheet June 30, 2013 With comparative totals for June 30, 2012

ASSETS

2013

2012

CURRENT ASSETS Cash and cash equivalents

$

Accounts receivable, net Prepaid expenses Total current assets INVESTMENTS PROPERTY AND EQUIPMENT, net

1,313,889

$

1,760,584

1,894,125

1,855,421

110,039

190,318

3,318,053

3,806,323

12,122,509

11,015,609

2,011,444

2,542,367

11,273

11,273

OTHER ASSETS Deposits Total assets

$

17,463,279

$

17,375,572

$

1,000,241

$

1,412,023

LIABILITIES AND NET ASSETS CURRENT LIABILITIES Accounts payable Accrued expenses Salaries

69,433

62,969

Vacation

242,105

225,836

Pension

317,655

289,657

37,420

38,473

126,313

67,530

1,793,167

2,096,488

Accrued rent, non-current portion

189,059

197,690

Total long term liabilities

189,059

197,690

1,982,226

2,294,178

Other accrued expenses Deferred revenue Total current liabilities LONG TERM LIABILITIES

Total liabilities NET ASSETS Unrestricted Total liabilities and net assets

The accompanying notes are an integral part of this financial statement.

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$

15,481,053 17,463,279

$

15,081,394 17,375,572

SUPPORT AND REVENUE Sustaining fees Accreditation visits User fees Workshop registration fees Investment income Other revenue

$

Total support and revenue

Statement of Activities and Changes in Net Assets Year Ended June 30, 2013

15,538,459

EXPENSES Program services Accreditation expense Education Supporting services Management and general

8,291,259 3,300,481 3,547,060

Total expenses

15,138,800

Change in net assets

399,659

NET ASSETS at beginning of year

NET ASSETS at end of year

5,515,484 4,603,981 3,481,735 607,703 1,179,844 149,712

ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS

15,081,394

$

15,481,053

The accompanying notes are an integral part of this financial statement.

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ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS

Statement of Cash Flows Year Ended June 30, 2013

CASH FLOWS FROM OPERATING ACTIVITIES

Fees received Other revenue received Investment income received Payments to vendors and suppliers

$

211,113

NET CASH PROVIDED BY OPERATING ACTIVITIES

CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property and equipment Proceeds from sale of property and equipment Purchases of investments Proceeds from sale of investments

(419,627) (4,198,723) 3,960,542

NET CASH USED BY INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES Payments on note payable

(657,808) -

NET DECREASE IN CASH AND CASH EQUIVALENTS

(446,695)

CASH AND CASH EQUIVALENTS at beginning of year CASH AND CASH EQUIVALENTS at end of year

The accompanying notes are an integral part of this financial statement.

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RECONCILIATION OF CHANGE IN NET ASSETS TO NET CASH PROVIDED BY OPERATING ACTIVITIES Change in net assets Adjustments Net unrealized and realized gains/losses Net loss on disposal of fixed assets Depreciation (Increase) decrease in assets Accounts receivable Prepaid expenses Increase (decrease) in liabilities Accounts payable Accrued expenses Salaries Vacation Pension Other accrued expenses Deferred revenue Accrued rent NET CASH PROVIDED BY OPERATING ACTIVITIES

14,228,982 149,712 311,125 (14,478,706)

1,760,584 $

1,313,889

$

399,659 (868,719) 47,891 902,659 (38,704) 80,279 (411,782) 6,464 16,269 27,998 (1,053) 58,783 (8,631)

$

211,113

ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Notes to Financial Statements June 30, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation Financial statement presentation follows accounting principles generally accepted in the United States of America in relation to net asset classification. The organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. There are no temporarily or permanently restricted net assets at June 30, 2013.

Cash and cash equivalents ACICS considers all short-term, highly liquid investments with initial maturities of three months or less to be cash equivalents. Since all such cash equivalents are contained in its investment portfolio and are not used in current operations, they are reported as investments.

Investments ACICS invests in a professionally managed portfolio. All investments are carried at fair value. Such investments are exposed to various risks such as market and credit. Due to the level of risk associated with such investments, and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risk in the near term could materially affect investment balances and the amounts reported in the financial statements. Realized and unrealized gains and losses are reported as investment income in the statement of activities and changes in net assets.

Property and equipment Property and equipment are recorded at cost. All acquisitions in excess of $1,000 are capitalized. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets. Artwork is not considered a collection and is a non depreciable asset. Property and equipment are reviewed for impairment whenever changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The cost of property and equipment retired or disposed of is removed from the accounts along with the related accumulated depreciation, and any gain or loss is reflected in income.

Revenue recognition Sustaining fees are recognized in the year to which they apply. Sustaining fees received in advance are recorded as deferred revenue and are recognized in subsequent periods when they are earned.

User fees are charged to cover the administrative costs of processing forms and are recognized when the forms have been processed.

ACICS utilizes fixed fee and geographical discount schedules to determine visit billings.

Accounts receivable includes program related revenue that has not been received as of June 30, 2013. No interest is accrued on receivables. Accounts receivable are stated at unpaid balances, less an allowance for doubtful accounts. At June 30, 2013, the allowance for doubtful accounts amounted to $58,789. ACICS provides for losses on accounts receivable using the allowance method. The allowance is based on experience. Receivables are considered impaired if full principal payments are not received in accordance with the contractual terms. It is ACICS’ policy to charge off uncollectible accounts receivable when management determines the receivable will not be collected.

Substantially all receivables are derived from institutions that ACICS accredits. All receivables to these institutions are made on an unsecured basis. Historically, ACICS has not incurred significant credit related losses.

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ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Notes to Financial Statements (continued) June 30, 2013 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Functional allocation of expenses The costs of providing programs and other activities have been summarized on a functional basis in the statement of activities and changes in net assets. Accordingly, certain costs have been allocated among the programs and supporting services benefited.

Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair value measurement Accounting principles generally accepted in the United States of America provide a common definition of fair value, establish a framework for measure of fair value and expand disclosures about fair value measurements, but do not require any new fair value measurements. All assets and liabilities required to be measured at fair value by these accounting principles have been assessed with the following three-tier hierarchy of inputs: Level 1 – quoted prices in active markets for identical instruments Level 2 – other significant observable inputs Level 3 – significant unobservable inputs All assets and liabilities are considered Level 1.

Financial information as of June 30, 2012 The financial information as of June 30, 2012 is presented for balance sheet comparative purposes only and is not intended to represent complete financial statement presentation.

Certain accounts in the prior financial statements have been reclassified for comparative purposes to conform to the presentation in the current period.

Advertising costs ACICS expenses advertising costs as they are incurred.

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ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Notes to Financial Statements (continued) June 30, 2013 ORGANIZATION AND TAX STATUS The Accrediting Council for Independent Colleges and Schools (ACICS) was founded in 1912 to establish and advance the quality of education of independent, non-public career schools, career institutions, and colleges. ACICS accomplishes these objectives by performing the accreditation function for its members.

ACICS is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code as an organization that is not a private foundation. ACICS is, however, subject to income tax on any net profits generated by unrelated business activities as defined under the tax laws. To date, ACICS has not engaged in such activities.

Accounting principles generally accepted in the United States of America require that uncertain tax positions be evaluated and the potential impact of unfavorable outcome of a tax authority's assessment of such uncertain tax position be reflected in the financial statements. From time to time, management must assess the need to accrue or disclose a possible loss contingency for proposed adjustments from various federal and state tax authorities who may audit the organization in the normal course of business. ACICS has evaluated its tax reporting and has not reflected any contingent liability for any such potential assessment.

In the event there were any proposed adjustments any associated penalties and interest would be separately reported. The organization is no longer subject to examinations by relevant tax authorities for years prior to fiscal year ended June 30, 2010.

CONCENTRATION OF CREDIT RISK ACICS maintains its cash balances at one financial institution in the Washington, D.C. area. The balances are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. At June 30, 2013, the uninsured balance for all cash accounts was $1,119,805. The Association has never experienced a loss on its cash deposits.

ACICS maintains its investments at one financial institution in the Washington, D.C. area. The cash equivalents and certificates of deposit held at this institution are insured by the FDIC up to $250,000. At June 30, 2013, the uninsured balance for these cash equivalents and certificates of deposit was $79,014. All other investments held in this institution are insured by the Securities Investor Protection Corporation (SIPC) for up to $500,000. At June 30, 2013, the uninsured balance for these investments was $11,293,495.

PROPERTY AND EQUIPMENT Property and equipment as of June 30, 2013 consists of the following: Furniture and fixtures Leasehold improvements Artwork

$ 5,271,269 679,088 4,006 5, 954,363

Less accumulated depreciation and amortization

(3,942,919) $ 2,011,444

Depreciation and amortization expense was $902,659 for the year ended June 30, 2013.

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ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Notes to Financial Statements (continued) June 30, 2013 INVESTMENTS The fair value of investments as of June 30, 2013 is presented below, along with a summary of investment income earned on investments and cash and cash equivalents for the year then ended.

Common stock $ 3,905,846 Cash equivalents 329,014 Bond funds 4,682,741 Mutual funds 2,811,103 Commodities 187,468 REITS 206,337 $

12,122,509

$

311,125 421,722 446,997

$

1,179,844

Investment income: Interest and dividends Realized gains/(losses) Unrealized gains/(losses)

COMMITMENTS AND CONTINGENCIES Operating leases ACICS leases office space in Washington, D.C., which has a term that expires September 30, 2017. Minimum monthly rent is currently $57,582. The total of all rental payments due under the lease are being recognized on a straight-line basis in the statement of activities and changes in net assets. Accordingly, there is a liability recorded for accrued rent equal to the difference between the rent expense and the actual cash payments required by the lease.

ACICS also leases equipment under operating leases. The copiers have leases that expire in March and September of 2014. The monthly lease payments are $3,268 and $1,411. The postage machine lease expired November 21, 2011 and an agreement was reached to continue on a quarterly payment plan equal to $2,100. A new agreement is being negotiated.

The following is a schedule of future minimum lease payments as of June 30, 2013: 2014

$

705,616

2016

715,367

2017

729,749

2018

183,344 $

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742,349

2015

3,076,425

The total expense incurred under all operating leases during the year ended June 30, 2013 was $811,961.

ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Notes to Financial Statements (continued) June 30, 2013 COMMITMENTS AND CONTINGENCIES (continued) Contractual ACICS has contracted various consultants and insurance providers. ACICS is obligated to pay fees for these relationships. ACICS has an employment contract with its executive director. Should the executive director be dismissed, ACICS may be subject to severance payments.

PENSION PLANS ACICS has a defined contribution pension plan, ACICS retirement/savings plan, as regulated by the Internal Revenue Service Code 401(a). Employees become eligible after one year of service, and become 25% vested for every year of employment. Contributions to the plan are discretionary and ACICS contributed 10% of eligible employees’ salaries. $317,655 was contributed for the year ended June 30, 2013. ACICS's employees are also eligible to participate in a 403(b) tax deferred annuity plan through which they can defer a portion of their annual salary. These voluntary contributions immediately vest to the employees.

ACCREDITATION AUTHORITY The Secretary of the United States Department of Education has extended the recognition of ACICS as an accrediting body through July 2016. ACICS must reaffirm this authority every five years. Management believes it is highly probably that ACICS will continue to be recognized as an accrediting body for an indefinite period.

SUBSEQUENT EVENTS In preparing these financial statements, management of ACICS has evaluated events and transactions that occurred after June 30, 2013 for potential recognition or disclosure in the financial statements. These events and transactions have been evaluated through November 21, 2013. This is the date that the financial statements were available to be issued.

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OTHER FINANCIAL INFORMATION

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INDEPENDENT AUDITOR’S REPORT ON OTHER FINANCIAL INFORMATION

CERTIFIED PUBLIC ACCOUNTANTS

Board of Directors Accrediting Council for Independent Colleges and Schools STOKES & COMPANY, P.C. 1201 15TH STREET. NW SUITE 340 WASHINGTON, D.C. 20005-2842 (202) 293-9000 FAX (202) 293-9666 WWW.STOKESPC.COM

Our report on our audit of the basic fmancial statements of the Accrediting Council for Independent Colleges and Schools for year ended June 30, 2013 appears on page 3and 4. We conducted our audit for the purpose of forming an opinion on the basic financial statements taken as a whole. The schedule of functional expenses on page 14 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects to the basic financial statements taken as a whole.

LARRY F. STOKES. C.P.A .

MEMBERS

STOKES & COMPANY, PC Washington, D.C.

AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

November 21,2013

PRIVATE COMPANIES PRACTICE SECTION GOVERNMENTAL AUDIT QUALITY CENTER EMPLOYEE BENEFIT PLAN AUDIT QUALITY CENTER

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ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS Schedule of Functional Expenses Year Ended June 30, 2013

Program Services Accreditation Expense Education Salaries and benefits Travel and meals Advertising Bad debt expense Computers Depreciation Dues and subscriptions Equipment rentals and maintenance Insurance Interest and fees Legal and accounting Meetings Miscellaneous Occupancy Office supplies Payroll taxes Printing and postage Professional fees Training Utilities Workshops

$

1,532,106 5,010,943 205,777 315,931 1,408 33,700

$

13,537 318,940 22,077 253,782 16,985 86,248 16,021 387,647 24,928 51,229 $

8,291,259

1,444,557 16,847 194,019 297,877 1,327 31,774

$

12,764 300,714 20,815 239,280 16,015 81,320 15,105 365,495 23,503 48,301 190,768 $

3,300,481

The accompanying auditor’s report on other financial information should be read with this statement.

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Supporting Services Management and General 1,400,783 34,206 2,728 38,770 188,139 288,851 1,287 30,811

Total $

12,377 333,266 138,944 291,602 20,185 232,030 15,529 78,856 14,647 354,420 22,791 46,838 $

3,547,060

4,377,446 5,061,996 2,728 38,770 587,935 902,659 4,022 96,285 38,678 333,266 138,944 911,256 63,077 725,092 48,529 246,424 45,773 1,107,562 71,222 146,368 190,768

$

15,138,800

2013

ACCREDITED INSTITUTIONS

ALABAMA Brown Mackie College - Birmingham, Birmingham Fortis Institute, Birmingham ITT Technical Institute, Bessemer ITT Technical Institute, Madison ITT Technical Institute, Mobile Prince Institute-Southeast, Montgomery Virginia College, Huntsville Virginia College, Birmingham Virginia College, Mobile Virginia College, Montgomery

ALASKA Charter College, Anchorage Charter College - Mat-Su, Wasilla

ARIZONA Anthem College, Phoenix Anthem College - Bryman School, Phoenix Anthem College - Bryman School, Phoenix Art Institute of Phoenix, Phoenix Brookline College, Tempe Brookline College, Phoenix Brookline College, Tucson Brown Mackie College, Phoenix Brown Mackie College, Tucson Bryan University (Online), Tempe Carrington College, Mesa Carrington College, Phoenix Carrington College, Tucson Carrington College, Phoenix Carrington College, Phoenix Collins College, Phoenix Golf Academy of America, Chandler

ITT Technical Institute, Tempe ITT Technical Institute, Tucson ITT Technical Institute, Phoenix ITT Technical Institute, Phoenix Le Cordon Bleu College of Culinary Arts, Scottsdale Sanford-Brown College, Phoenix The Art Institute of Tucson, Tucson Tucson College, Tucson

ARKANSAS Bryan University, Rogers ITT Technical Institute, Little Rock

CALIFORNIA Academy Of Couture Art, Beverly Hills American University of Health Sciences, Signal Hill Anthem College, Sacramento Bay Area College of Nursing, Palo Alto Bay Area Medical Academy, San Francisco Bergin University of Canine Studies, Rohnert Park Bristol University, Anaheim Brooks Institute, Santa Barbara Brooks Institute, Ventura Bryan University, Los Angeles California International Business University, San Diego California Miramar University, San Diego California University of Management and Sciences, Anaheim California University of Management and Sciences San Diego Branch, San Diego Cambridge Junior College, Yuba City Cambridge Junior College - Woodland, Woodland Charter College, Canyon Country Charter College, Lancaster Charter College, Oxnard

Charter College, Long Beach Coleman University, San Marcos Coleman University, San Diego Design Institute of San Diego, San Diego Empire College, Santa Rosa Everest College, San Bernardino Everest College, Ontario Everest College, Santa Ana Golden State College of Court Reporting & Captioning, Pleasanton Golf Academy of America, Carlsbad International Academy of Design and Technology, Sacramento ITT Technical Institute, Orange ITT Technical Institute, Lathrop ITT Technical Institute, Oxnard ITT Technical Institute, Rancho Cordova ITT Technical Institute, San Bernardino ITT Technical Institute, National City ITT Technical Institute, Sylmar ITT Technical Institute, Torrance ITT Technical Institute, San Dimas ITT Technical Institute, San Dimas ITT Technical Institute, Concord ITT Technical Institute, Corona ITT Technical Institute, Culver City ITT Technical Institute, Oakland ITT Technical Institute, Clovis Kaplan College, Sacramento Kaplan College, Salida Kaplan College, Bakersfield Kaplan College, Chula Vista Kaplan College, Clovis Kaplan College, North Hollywood Kaplan College, Palm Springs Kaplan College, Vista Kaplan College, Riverside

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Kaplan College, San Diego Laurus College, San Luis Obispo Laurus College, Oxnard Le Cordon Bleu College of Culinary Arts, Pasadena Le Cordon Bleu College of Culinary Arts, San Francisco Le Cordon Bleu College of Culinary Arts, Sacramento Learnet Academy, Inc., Los Angeles Lincoln University, Oakland NewSchool of Architecture & Design, San Diego Northwestern Polytechnic University, Fremont Pacific States University, Los Angeles Premiere Career College, Irwindale Professional Golfers Career College, Temecula SAE Institute of Technology, Los Angeles SAE Institute of Technology, San Francisco Sage College, Moreno Valley Sage College, San Diego Santa Barbara Business College, Santa Barbara Santa Barbara Business College, Bakersfield Santa Barbara Business College, Santa Maria Santa Barbara Business College, Ventura Santa Barbara Business College, Rancho Mirage Santa Barbara Business College - Online, Ventura Shepherd University, Los Angeles Sierra Valley College of Court Reporting, Fresno Silicon Valley University, San Jose South Coast College, Orange Southern California Health Institute (SOCHI), North Hollywood Southern States University, Newport Beach Southern States University, San Diego University of Antelope Valley, Lancaster Westwood College, Los Angeles Westwood College, Anaheim Westwood College-Inland Empire, Upland Westwood College-South Bay, Torrance

COLORADO Anthem College, Aurora Colorado Heights University, Denver Ecotech Institute, Aurora Everest College, Colorado Springs Everest College, Thornton Everest College, Aurora IBMC College, Fort Collins IBMC College, Longmont IBMC College, Greeley

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ITT Technical Institute, Westminster ITT Technical Institute, Aurora Prince Institute - Rocky Mountains, Westminster Redstone College, Broomfield Redstone College - Denver East, Denver Westwood College - Denver North, Denver Westwood College - Denver South, Denver Westwood College - Online, Broomfield

CONNECTICUT American Institute, West Hartford Branford Hall Career Institute, Branford Branford Hall Career Institute, Windsor Branford Hall Career Institute, Southington Harris School of Business, Danbury Ridley-Lowell Business & Technical Institute, New London Ridley-Lowell Business & Technical Institute, Danbury Sanford-Brown College, Farmington Stone Academy, West Haven Stone Academy, Waterbury Stone Academy, East Hartford

DISTRICT OF COLUMBIA Radians College, Washington

FLORIDA American College For Medical Careers, Celebration Anthem College, Orlando Art Institute of Fort Lauderdale, Fort Lauderdale Brown Mackie College - Miami, Miramar City College, Fort Lauderdale City College, Gainesville City College, Miami City College, Altamonte Springs City College, Hollywood College of Business & Technology, Miami College of Business & Technology, Miami Gardens College of Business & Technology, Miami College of Business & Technology, Cutler Bay College of Business & Technology, Hialeah Dave School (A Division of Instituto De Banca Y Comercio, Inc.), Orlando Digital Media Arts College, Boca Raton Everest Institute, Miami Everest Institute - Kendall, Miami Everest University - Brandon, Tampa

Everest University - Jacksonville , Jacksonville Everest University - Lakeland, Lakeland Everest University - Melbourne, Melbourne Everest University - North Orlando, Orlando Everest University - Orange Park, Orange Park Everest University - Pinellas, Largo Everest University - Pompano Beach, Pompano Beach Everest University - South Orlando, Orlando Everest University - Tampa, Tampa FCC-Anthem College, Orlando Florida Career College, Lauderdale Lakes Florida Career College, Boynton Beach Florida Career College, Clearwater Florida Career College, Hialeah Florida Career College, Jacksonville Florida Career College - Kendall, Miami Florida Career College, Margate Florida Career College, Miami Florida Career College, Pembroke Pines Florida Career College, Riverview Florida Career College, West Palm Beach Florida Medical Training Institute, Coral Springs Florida Medical Training Institute, Miami Florida Medical Training Institute, Tampa Florida Medical Training Institute, Jacksonville Florida Medical Training Institute, Melbourne Florida Technical College, Lakeland Florida Technical College, Orlando Florida Technical College, Deland Florida Technical College, Pembroke Pines Florida Technical College, Kissimmee Fortis College, Orange Park Fortis Institute, Jacksonville Golf Academy of America, Apopka International Academy of Design and Technology, Tampa International Academy of Design and Technology, Orlando International Academy of Design and Technology Online, Tampa ITT Technical Institute, Jacksonville ITT Technical Institute, Lake Mary ITT Technical Institute, Miami ITT Technical Institute, Fort Lauderdale ITT Technical Institute, Tampa ITT Technical Institute, Tallahassee ITT Technical Institute, Fort Myers ITT Technical Institute, Pensacola

ITT Technical Institute, Ft Lauderdale ITT Technical Institute, St Petersburg ITT Technical Institute, West Palm Beach ITT Technical Institute, Bradenton ITT Technical Institute, Orlando Jones College, Jacksonville Jones College, Jacksonville Jose Maria Vargas University, Pembroke Pines Kaplan College, Jacksonville Key College, Dania Beach Lasalle Computer Learning Center, Inc., Tampa Le Cordon Bleu College of Culinary Arts, Orlando Le Cordon Bleu College of Culinary Arts In Miami, Miramar Lincoln College of Technology, West Palm Beach Mattia College, Miami Medtech Institute, Orlando Millennia Atlantic University, Doral Professional Golfers Career College, Winter Garden Professional Training Centers Dba Mattia College, Miami SAE Institute of Technology, North Miami Beach San Ignacio College, Doral Sanford-Brown Institute, Tampa Sanford-Brown Institute, Jacksonville Sanford-Brown Institute, Orlando Sanford-Brown Institute, Fort Lauderdale Schiller International University, Largo Southern Technical College, Orlando Southern Technical College, Auburndale Southern Technical College, Mount Dora Southern Technical College, Brandon Southern Technical College, Sanford Southwest Florida College, Fort Myers Southwest Florida College, Tampa Southwest Florida College, Port Charlotte Stenotype Institute of Jacksonville, Jacksonville Unilatina International College, Miramar University of Southernmost Florida, Jacksonville University of Southernmost Florida, Homestead University of Southernmost Florida, Coral Gables Virginia College, Pensacola Virginia College, Fort Pierce Virginia College, Jacksonville

GEORGIA Anthem College, Atlanta Brown Mackie College, Atlanta

Gwinnett College, Lilburn ITT Technical Institute, Duluth ITT Technical Institute, Kennesaw ITT Technical Institute, Atlanta ITT Technical Institute, Douglasville Le Cordon Bleu College of Culinary Arts, Tucker Lincoln College of Technology, Marietta McCann School of Business & Technology -dba- Miller-Motte Technical College, Macon Miller-Motte Technical College, Augusta Miller-Motte Technical College, Columbus SAE Institute Atlanta, Atlanta Sanford-Brown College, Atlanta Virginia College, Macon Virginia College, Augusta Virginia College, Savannah Virginia College, Columbus Westwood College Atlanta Northlake, Atlanta Westwood College-Atlanta Midtown, Atlanta

IDAHO Broadview University - Boise, Meridian Brown Mackie College, Boise Carrington College, Boise Guardian College, Meridian ITT Technical Institute, Boise

ILLINOIS Ambria College of Nursing, Hoffman Estates Everest College, Merrionette Park Gem City College, Quincy International Academy of Design and Technology, Chicago ITT Technical Institute, Orland Park ITT Technical Institute, Oak Brook ITT Technical Institute, Arlington Heights ITT Technical Institute, Springfield MDT College of Health Sciences, Inc, Dba ATS Institute of Technology, Chicago National Latino Education Institute, Chicago Prince Institute-Great Lakes, Schaumburg Sanford-Brown College, Collinsville Sanford-Brown College, Hillside Sanford-Brown College, Skokie SOLEX College, Wheeling Taylor Business Institute, Chicago

Tribeca Flashpoint Media Arts Academy, Chicago Westwood College Chicago Loop, Chicago Westwood College DuPage, Woodridge Westwood College O'Hare Airport, Chicago Westwood College River Oaks, Calumet City

INDIANA Art Institute of Indianapolis, Indianapolis Brown Mackie College, Fort Wayne Brown Mackie College, Indianapolis Brown Mackie College, Merrillville Brown Mackie College, Michigan City Brown Mackie College, South Bend College of Court Reporting, Hobart Harrison College, Indianapolis Harrison College, Anderson Harrison College, Columbus Harrison College, Terre Haute Harrison College, Lafayette Harrison College, Evansville Harrison College, Fort Wayne Harrison College, Indianapolis Harrison College, Elkhart Harrison College, Indianapolis International Business College, Fort Wayne International Business College, Indianapolis ITT Technical Institute, Indianapolis ITT Technical Institute, Newburgh ITT Technical Institute, Fort Wayne ITT Technical Institute, South Bend ITT Technical Institute, Merrillville ITT Technical Institute, Indianapolis Kaplan College, Hammond Kaplan College, Indianapolis Medtech College, Indianapolis Medtech College, Greenwood Medtech College, Fort Wayne National College, Indianapolis National College, Fort Wayne National College, South Bend Radiological Technologies University VT, South Bend

IOWA Brown Mackie College - Quad Cities, Bettendorf ITT Technical Institute, Cedar Rapids ITT Technical Institute, Clive

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KANSAS The Art Institutes International, Lenexa Bryan University, Topeka ITT Technical Institute, Wichita ITT Technical Institute, Overland Park Pinnacle Career Institute, Lawrence Wright Career College, Wichita Wright Career College, Overland Park

KENTUCKY Beckfield College, Florence Brown Mackie College, Hopkinsville Brown Mackie College, Louisville Brown Mackie College, Ft. Mitchell Daymar College, Owensboro Daymar College, Bowling Green Daymar College, Paducah Daymar College, Bellevue Daymar College, Scottsville Daymar College, Louisville Daymar College, Louisville Daymar College, Madisonville Daymar College (Online), Louisville ITT Technical Institute, Louisville ITT Technical Institute, Lexington Medtech College-Lexington, Lexington National College, Danville National College, Florence National College, Louisville National College, Richmond National College, Pikeville National College, Lexington Spencerian College, Louisville Spencerian College, Lexington Sullivan College of Technology and Design, Louisville

LOUISIANA American School of Business, Shreveport Camelot College, Baton Rouge Career Technical College, Shreveport Career Technical College, Monroe Delta School of Business & Technology, Lake Charles ITT Technical Institute, St. Rose ITT Technical Institute, Baton Rouge Virginia College, Baton Rouge

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Virginia College, Bossier City

MAINE Beal College, Bangor

MARYLAND Everest Institute, Silver Spring Fortis College, Landover ITT Technical Institute, Owings Mills ITT Technical Institute, Hanover Stratford University Baltimore Campus, Baltimore TESST College of Technology, Beltsville TESST College of Technology, Towson TESST College of Technology, Baltimore

MASSACHUSETTS Branford Hall Career Institute, Springfield ITT Technical Institute, Norwood ITT Technical Institute, Wilmington Le Cordon Bleu College of Culinary Arts Boston, Cambridge Lincoln Technical Institute, Somerville Lincoln Technical Institute, Brockton Lincoln Technical Institute, Lowell Mildred Elley, Pittsfield Salter College, Chicopee Salter College: A Private Two-Year College, LLC, West Boylston Salter School, Tewksbury Salter School, Malden Salter School, Fall River Sanford-Brown College, Boston

MICHIGAN Detroit Business Institute-Downriver, Riverview Dorsey School of Business, Madison Heights Dorsey School of Business, Southgate Dorsey School of Business, Roseville Dorsey School of Business, Wayne Dorsey School of Business, Detroit Dorsey School of Business, Lansing Dorsey School of Business, Farmington Hills Dorsey School of Business, Saginaw Dorsey School of Business, Pontiac International Academy of Design and Technology, Troy

ITT Technical Institute, Troy ITT Technical Institute, Wyoming ITT Technical Institute, Canton ITT Technical Institute, Wyoming ITT Technical Institute, Dearborn ITT Technical Institute, Southfield ITT Technical Institute, Swartz Creek Kaplan Career Institute - Dearborn, Detroit Michigan Jewish Institute - The Shul, West Bloomfield Sanford-Brown College, Grand Rapids Sanford-Brown College, Dearborn Stautzenberger Institute, Allen Park

MINNESOTA Academy College, Bloomington Anthem College, St. Louis Park Brown College, Brooklyn Center Brown College, Mendota Heights Duluth Business University, Duluth Globe University, Woodbury Globe University, Minneapolis Globe University, Moorhead ITT Technical Institute, Eden Prairie ITT Technical Institute, Brooklyn Center Le Cordon Bleu College of Culinary Arts, Mendota Heights Minneapolis Business College, Roseville Minnesota School of Business, Richfield Minnesota School of Business, Waite Park Minnesota School of Business, Brooklyn Center Minnesota School of Business, Shakopee Minnesota School of Business, Rochester Minnesota School of Business, Plymouth Minnesota School of Business, Blaine Minnesota School of Business, Elk River Minnesota School of Business, Lakeville The Art Institutes International Minnesota, Minneapolis

MISSISSIPPI ITT Technical Institute, Madison Miller-Motte Technical College, Gulfport Virginia College, Jackson Virginia College, Biloxi

MISSOURI Anthem College, Kansas City Bolivar Technical College, Bolivar Brown Mackie College - St. Louis, Fenton Bryan University, Springfield Bryan University, Columbia Court Reporting Institute of St. Louis, Clayton Everest College, Springfield Everest College, Kansas City Everest College, Earth City Hickey College, St. Louis ITT Technical Institute, Arnold ITT Technical Institute, Earth City ITT Technical Institute, Kansas City ITT Technical Institute, Springfield Le Cordon Bleu College of Culinary Arts, Saint Peters Metro Business College, Jefferson City Metro Business College, Cape Girardeau Metro Business College, Rolla Metro Business College, Arnold Missouri College, Brentwood Pinnacle Career Institute, Kansas City Pinnacle Career Institute, Kansas City Pinnacle Career Institute - Online Education, Kansas City Sanford-Brown College, Fenton Sanford-Brown College, Saint Peters Stevens - The Institute of Business and Arts, St. Louis Texas County Technical College, Houston The Art Institute of St. Louis, Saint Charles

NEBRASKA ITT Technical Institute, Omaha Wright Career College, Omaha

NEVADA Anthem College, Las Vegas Art Institute of Las Vegas, Henderson Carrington College, Las Vegas Carrington College, Reno Euphoria Institute of Beauty Arts & Sciences, Henderson Euphoria Institute of Beauty Arts & Sciences, Las Vegas Euphoria Institute of Beauty Arts & Sciences Summerlin, Las Vegas Everest College, Henderson

International Academy of Design and TechnologyLas Vegas, Henderson ITT Technical Institute, Henderson ITT Technical Institute, North Las Vegas Kaplan College, Las Vegas Le Cordon Bleu College of Culinary Arts, Las Vegas Morrison University, Reno

NEW HAMPSHIRE Lebanon College, Lebanon Salter School of Nursing & Allied Health, Manchester

NEW JERSEY American Institute, Toms River American Institute, Clifton Anthem Institute, Cherry Hill Best Care Training Institute, East Orange Drake College of Business, Newark Drake College of Business, Elizabeth Eastwick College, Hackensack Eastwick College, Nutley Eastwick College, Ramsey Harris School of Business, Cherry Hill Harris School of Business, Linwood Harris School of Business, Hamilton ITT Technical Institute, Marlton Lincoln Technical Institute, Edison Lincoln Technical Institute, Moorestown Lincoln Technical Institute, Paramus Omega Institute, Pennsauken PC AGE Career Institute, Jersey City PC AGE Career Institute, Edison Sanford-Brown Institute, Iselin StenoTech Career Institute, Piscataway Universal Training Institute, Perth Amboy

NEW MEXICO Anamarc College, Santa Teresa Brookline College, Albuquerque Brown Mackie College-Albuquerque, Albuquerque Carrington College, Albuquerque ITT Technical Institute, Albuquerque

NEW YORK Art Institute of New York City, New York Branford Hall Career Institute, Bohemia Branford Hall Career Institute, Albany Branford Hall Career Institute, Amityville Cheryl Fell's School of Business, Niagara Falls Cope Institute, Brooklyn EDP School of Computer Programming, Brooklyn Elmira Business Institute, Elmira Elmira Business Institute, Vestal Emerging Technologies Institute, Forest Hills Everest Institute, Rochester Hunter Business School, Levittown Hunter Business School, Medford ITT Technical Institute, Albany ITT Technical Institute, Liverpool ITT Technical Institute, Getzville Long Island Business Institute, Commack Long Island Business Institute, Flushing Manhattan Institute of Management, New York Manhattan School of Computer Technology, Brooklyn Mildred Elley, Albany Mildred Elley, New York New York Institute of English and Business, New York Professional Business College, New York Ridley-Lowell Business & Technical Institute, Binghamton Ridley-Lowell Business & Technical Institute, Poughkeepsie Sanford-Brown Institute, White Plains Sanford-Brown Institute, Garden City Sanford-Brown Institute, New York SBI Campus - An Affiliate of Sanford-Brown, Melville Spanish-American Institute, New York

NORTH CAROLINA Brookstone College of Business, Charlotte Brookstone College of Business, Greensboro ITT Technical Institute, Charlotte ITT Technical Institute, Cary ITT Technical Institute, Durham ITT Technical Institute, High Point ITT Technical Institute, Charlotte Kaplan College, Charlotte King's College, Charlotte Living Arts College @ School of Communication Arts, Raleigh

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Living Arts Institute @ School of Communication Arts, Winston Salem Miller-Motte College, Wilmington Miller-Motte College, Cary Miller-Motte College, Greenville Miller-Motte College, Raleigh Miller-Motte College, Fayetteville Miller-Motte College, Jacksonville South College-Asheville, Asheville The Chef's Academy, Morrisville Virginia College, Greensboro

OHIO ATS Institute of Technology, Highland Heights Beckfield College, Springdale Bradford School, Columbus Brown Mackie College, Akron Brown Mackie College, Cincinnati Brown Mackie College, Findlay Brown Mackie College, Canton Daymar College, Lancaster Daymar College, Chillicothe Daymar College, New Boston Daymar College, Jackson Felbry School of Nursing, Columbus Fortis College, Ravenna Gallipolis Career College, Gallipolis Harrison College, Grove City Hondros College, Westerville Hondros College, Fairborn Hondros College, West Chester Hondros College, Independence ITT Technical Institute, Youngstown ITT Technical Institute, Norwood ITT Technical Institute, Dayton ITT Technical Institute, Strongsville ITT Technical Institute, Hilliard ITT Technical Institute, Warrensville Heights ITT Technical Institute, Maumee ITT Technical Institute, Akron ITT Technical Institute, Norwood ITT Technical Institute, Columbus Kaplan Career Institute, Brooklyn Kaplan College, Dayton Miami-Jacobs Career College, Dayton Miami-Jacobs Career College, Springboro Miami-Jacobs Career College, Troy

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Miami-Jacobs Career College, Columbus Miami-Jacobs Career College, Independence Miami-Jacobs Career College, Sharonville National College, Youngstown National College, Canton National College, Stow National College, Columbus National College, Willoughby Hills National College , Kettering National College , Cincinnati Ohio Business College, Sheffield Village Ohio Business College, Sandusky Ohio Business College, Hilliard Ohio Valley College of Technology, East Liverpool Sanford-Brown College, Columbus Sanford-Brown College, Middleburg Heights Stautzenberger College, Maumee Stautzenberger College, Brecksville Trumbull Business College, Warren

OKLAHOMA Brown Mackie College, Tulsa Career Point College, Tulsa Clary Sage College, Tulsa Community Care College, Tulsa ITT Technical Institute, Tulsa ITT Technical Institute, Oklahoma City Oklahoma Technical College, Tulsa Virginia College, Tulsa Wright Career College, Tulsa Wright Career College, Oklahoma City

OREGON Carrington College, Portland Everest College, Portland Everest Institute, Tigard ITT Technical Institute, Portland ITT Technical Institute, Salem Le Cordon Bleu College of Culinary Arts, Portland Oregon Culinary Institute, Portland Pioneer Pacific College, Wilsonville Pioneer Pacific College - Eugene Branch, Springfield Sanford-Brown College, Portland Sumner College, Portland

PENNSYLVANIA Anthem Institute, Springfield Berks Technical Institute, Wyomissing Bradford School, Pittsburgh Cambria-Rowe Business College, Indiana Cambria-Rowe Business College, Johnstown Consolidated School of Business, York Consolidated School of Business, Lancaster Douglas Education Center, Monessen DuBois Business College, DuBois DuBois Business College, Oil City DuBois Business College, Huntingdon Education and Technology Institute, Greensburg Erie Business Center, Erie Erie Business Center South, New Castle Everest Institute, Pittsburgh Everest Institute, Bensalem Fortis Institute, Erie Harris School of Business, Upper Darby ITT Technical Institute, Pittsburgh ITT Technical Institute, Tarentum ITT Technical Institute, Harrisburg ITT Technical Institute, Levittown ITT Technical Institute, Plymouth Meeting ITT Technical Institute, Dunmore ITT Technical Institute, Philadelphia Kaplan Career Institute, Philadelphia Kaplan Career Institute, Harrisburg Kaplan Career Institute - ICM Campus, Pittsburgh Kaplan Career Institute, Broomall Kaplan Career Institute, Philadelphia Lansdale School of Business, North Wales Laurel Business Institute, Uniontown Laurel Technical Institute, Meadville Laurel Technical Institute, LLC, Sharon Lincoln Technical Institute, Philadelphia Lincoln Technical Institute, Philadelphia McCann School of Business & Technology, Carlisle McCann School of Business & Technology, Hazle Township McCann School of Business & Technology, Pottsville McCann School of Business & Technology, Sunbury McCann School of Business & Technology, Allentown McCann School of Business & Technology, Wilkes Barre McCann School of Business & Technology, Dickson City Pace Institute, Reading

Penn Commercial Business/Technical School, Washington Pennsylvania Institute of Health and Technology, Mount Braddock PITC Institute, Glenside Sanford-Brown Institute, Trevose Sanford-Brown Institute, Pittsburgh Sanford-Brown Institute, Pittsburgh South Hills School of Business and Technology, State College South Hills School of Business and Technology, Altoona The Art Institute of York - Pennsylvania, York Yorktowne Business Institute, York

PUERTO RICO American Educational College, Bayamon American Educational College, Vega Alta American Educational College, Toa Alta Atlantic University College, Guaynabo Colegio Tecnologico y Comercial de PR, Aguada Dewey University, Arroyo Dewey University, Bayamon Dewey University, Carolina Dewey University, Fajardo Dewey University, Hatillo Dewey University, Hato Rey Dewey University, Juana Diaz Dewey University, Manati Dewey University, Mayaguez EDIC College, Carolina EDIC College, Caguas Humacao Community College, Humacao Instituto de Banca y Comercio, Hato Rey Instituto de Banca y Comercio, Guayama Instituto de Banca y Comercio, Cayey Instituto de Banca y Comercio, Manati Instituto de Banca y Comercio, Fajardo Instituto de Banca y Comercio, Ponce Instituto de Banca y Comercio, Mayaguez Instituto de Banca y Comercio, Caguas Instituto de Banca y Comercio, San Juan Instituto de Banca y Comercio, Arecibo Instituto De Banca Y Comercio, Humacao Instituto De Banca Y Comercio, Bayamon MBTI Business Training Institute, Santurce MBTI Business Training Institute, Mayaguez MBTI Business Training Institute, Fajardo

MBTI Business Training Institute, Bayamon Trinity College of Puerto Rico, Ponce Universal Technology College of Puerto Rico, Aguadilla Universal Technology College of Puerto Rico, Camuy

RHODE ISLAND Lincoln Technical Institute, Lincoln Ridley-Lowell Business & Technical Insitute, West Warwick

SOUTH CAROLINA Brown Mackie College, Greenville Forrest College, Anderson Golf Academy of America, Myrtle Beach ITT Technical Institute, Greenville ITT Technical Institute, North Charleston ITT Technical Institute, Columbia ITT Technical Institute, Myrtle Beach Miller-Motte Technical College, Charleston Miller-Motte Technical College, Conway National Center For Credibility Assessment, Columbia Professional Golfers Career College-Hilton Head, Bluffton Virginia College, Greenville Virginia College, Spartanburg Virginia College, Florence Virginia College, North Charleston Virginia College, Columbia

SOUTH DAKOTA Globe University, Sioux Falls

TENNESSEE Anthem Career College, Memphis Anthem Career College, Nashville Daymar Institute, Nashville Daymar Institute, Clarksville Daymar Institute, Murfreesboro International Academy of Design and Technology, Nashville ITT Technical Institute, Knoxville ITT Technical Institute, Cordova ITT Technical Institute, Nashville ITT Technical Institute, Chattanooga ITT Technical Institute, Johnson City

Kaplan Career Institute, Nashville Miller-Motte Technical College, Clarksville Miller-Motte Technical College, Chattanooga Miller-Motte Technical College, Madison National College of Business and Technology, Bristol National College of Business and Technology, Nashville National College of Business and Technology, Madison National College of Business and Technology, Knoxville National College of Business and Technology, Bartlett National College of Business and Technology, Memphis Virginia College School of Business and Health, Chattanooga Virginia College School of Business and Health, Knoxville West Tennessee Business College, Jackson

TEXAS American Commercial College, Odessa American Commercial College, San Angelo American Commercial College, Wichita Falls Anamarc College, El Paso Anamarc College, El Paso Anthem College, Irving Anthem College, Houston Brown Mackie College - Dallas/Ft. Worth, Bedford Brown Mackie College, San Antonio Career Point College, San Antonio Carrington College, Mesquite Court Reporting Institute of Dallas, Dallas Ecotech Institute, Austin Everest College, Arlington Everest College, Fort Worth Everest College, Fort Worth Everest College, Dallas Golf Academy of America, Farmers Branch International Academy of Design and Technology, San Antonio International Business College, El Paso International Business College, El Paso ITT Technical Institute, Houston ITT Technical Institute, Arlington ITT Technical Institute, Austin ITT Technical Institute, Richardson ITT Technical Institute, San Antonio ITT Technical Institute, Webster ITT Technical Institute, Houston ITT Technical Institute, Desoto ITT Technical Institute, San Antonio

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ITT Technical Institute, Waco Kaplan College, Arlington Kaplan College, Beaumont Kaplan College, Brownsville Kaplan College, Corpus Christi Kaplan College, Dallas Kaplan College, El Paso Kaplan College, Fort Worth Kaplan College, San Antonio Kaplan College, Laredo Kaplan College, Lubbock Kaplan College, McAllen Kaplan College, San Antonio Lawyer's Assistant School of Dallas, Dallas Le Cordon Bleu College of Culinary Arts, Austin Le Cordon Bleu College of Culinary Arts, Dallas Lighthouse College, Dallas North American University, Houston Sanford-Brown College, Austin Sanford-Brown College, San Antonio Sanford-Brown College, Houston Sanford-Brown College, Dallas Sanford-Brown College, Houston Texas Health and Science University, Austin Texas Health and Science University, Austin Texas School of Business, Houston Texas School of Business, Friendswood Vet Tech Institute of Houston, Houston Virginia College, Austin Virginia College, Lubbock

UTAH Art Institute of Salt Lake City, Draper Broadview Entertainment Arts University, Salt Lake City Broadview University, Layton Broadview University, Orem Broadview University, West Jordan Eagle Gate College, Layton Eagle Gate College, Salt Lake City Eagle Gate College, Murray Everest College, West Valley City ITT Technical Institute, Murray Neumont University, Salt Lake City Provo College, Provo

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VIRGINIA American National University, Salem American National University, Martinsville American National University, Lynchburg American National University, Harrisonburg American National University, Danville American National University, Charlottesville Bon Secours Memorial College of Nursing, Richmond California University of Management and Sciences, Falls Church Everest College, Newport News Everest College, Chesapeake Everest College, Woodbridge Everest College - McLean, Vienna Fortis College, Norfolk Fortis College, Richmond Global Health College, Alexandria Iglobal University, Annandale ITT Technical Institute, Norfolk ITT Technical Institute, Richmond ITT Technical Institute, Springfield ITT Technical Institute, Chantilly ITT Technical Institute, Salem Miller-Motte Technical College, Lynchburg Miller-Motte Technical College, Roanoke Sanford-Brown College, Mc Lean Sentara College of Health Sciences, Chesapeake Stratford University, Falls Church Stratford University, Woodbridge Stratford University, Newport News Stratford University, Alexandria Stratford University, Glen Allen Stratford University, Virginia Beach Virginia College, Richmond Virginia International University, Fairfax Westwood College, Annandale Westwood College, Arlington

WASHINGTON Bainbridge Graduate Institute, Seattle Carrington College, Spokane Charter College, Bellingham Charter College, Pasco Charter College, Vancouver Charter College, Fife Charter College, Lynnwood

Everest College, Everett Everest College, Bremerton Everest College, Vancouver Everest College, Tacoma Everest College, Seattle International Academy of Design and Technology, Seattle ITT Technical Institute, Everett ITT Technical Institute, Seattle ITT Technical Institute, Spokane Valley Le Cordon Bleu College of Culinary Arts, Tukwila

WEST VIRGINIA American National University, Princeton American National University, Parkersburg ITT Technical Institute, Huntington Mountain State College, Parkersburg Valley College, Martinsburg Valley College, Beckley Valley College, Princeton West Virginia Business College, Wheeling West Virginia Business College, Nutter Fort West Virginia Junior College, Charleston West Virginia Junior College, Morgantown West Virginia Junior College, Bridgeport

WISCONSIN Globe University - Appleton, Grand Chute Globe University, Eau Claire Globe University - Green Bay, Bellevue Globe University - La Crosse, Onalaska Globe University - Madison East, Madison Globe University, Middleton Globe University - Wausau, Rothschild ITT Technical Institute, Greenfield ITT Technical Institute, Green Bay ITT Technical Institute, Madison ITT Technical Institute, Greenfield The Art Institute of Wisconsin, Milwaukee Wright Graduate University for the Realization of Human Potential, Elkhorn

WYOMING IBMC College, Cheyenne

INTERNATIONAL American International College of Arts and Sciences, Antigua, West Indies

Niels Brock Copenhagen Business College, Copenhagen, Denmark Schiller International University, Madrid, Spain

American University In Bosnia and Herzegovina, Tuzla, Bosnia and Herzegowina

Schiller International University, Paris, France

The Art Institute of Vancouver, Vancouver, Ontario

California Miramar University-Kenya, Nairobi, Kenya

Everest College of Business, Technology and Healthcare, Sudbury, Ontario, Canada

Westhill College, Mexico City, Mexico

Everest College of Business, Technology and Healthcare, Toronto, Ontario, Canada

Stratford University, New Dehli, India

Niels Brock At Foreign Trade University Vietnam, Hanoi

Everest College of Business, Technology and Healthcare, Hamilton, Ontario, Canada Everest College of Business, Technology and Healthcare, Newmarket, Ontario, Canada Everest College of Business, Technology and Healthcare, Hamilton, Ontario, Canada Everest College of Business, Technology and Healthcare, Barrie, Ontario, Canada Everest College of Business, Technology and Healthcare, Brampton, Ontario, Canada Everest College of Business, Technology and Healthcare, Nepean, Ontario, Canada Everest College of Business, Technology and Healthcare, Windsor, Ontario Everest College of Business, Technology and Healthcare, Scarborough, Ontario, Canada Everest College of Business, Technology and Healthcare, Kitchener, Ontario, Canada Everest College of Business, Technology and Healthcare, Toronto, Ontario, Canada Everest College of Business, Technology and Healthcare, Ottawa, Ontario, Canada Everest College of Business, Technology and Healthcare, Mississauga, Ontario, Canada Trillium College Kingston, Kingston, Ontario, Canada Trillium College Ottawa, Ottawa, Canada International College of the Cayman Islands, Newlands, Cayman Islands Schiller International University, Heidelberg, Germany

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ACICS COMMISSIONERS Mr. Brian Stewart, Chair President/Chief Executive Officer Bryan University

Dr. Thomas Duff Professor Emeritus University of Minnesota Duluth

Dr. Mary Anne Ramirez Campus Dean Stratford University

Ms. Jeanne Herrmann, Chair-Elect Chief Operating Officer Globe University/Minnesota School of Business

Dr. Lawrence Leak Interim Provost and Chief Academic Officer University of Maryland University College (Retired)

Dr. Ruth Shafer Lindenwood University Adjunct Professor, Master of Education and Administration Programs

Mr. John D. Euliano, Treasurer Member, Board of Directors American Higher Education Development Corporation

Mr. Luis Llerena Executive Director CBT College

Dr. Edward G. Thomas Cleveland State University Professor of Marketing, Emeritus

Ms. Linda Blair Dean and Chief Academic Officer Spencerian College

Dr. Jamie Morley Chief Executive Officer Education Consulting Solutions, LLC.

Dr. Dennis Trinkle Provost/Chief Academic Officer Harrison College

Mr. Edwin Col贸n Campus Director ITT Technical Institute

Ms. LaShondra Peebles Vice President, Division of Enrollment Management and Student Affairs Chicago State University

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Accrediting Council for Independent Colleges and Schools 750 First Street, NE, Suite 980 Washington, DC 20002-4223 202.336.6780 (phone) www.acics.org