Back in October, for-profit Grand Canyon University announced it would become a nonprofit institution; the Arizona Republic follows up here.
"GCU's proposed switch appears unprecedented in the business world — a surprising, tantalizing option others might envy but few could follow. For now, officials at the Phoenix-based company give themselves a 50 percent chance of pulling off the move first announced in October. A conversion would serve as the dramatic capstone to GCU's transformation, first from a struggling Christiannon-profit on the verge of bankruptcy a decade ago to a good stock shining in a suddenly struggling industry, then back to a non-profit on firmer financial footing." -- Ronald J. Hansen, the Arizona Republic