March 2007

While annual reports for most charitable foundations often focus strictly on financial information, the Imagine America Foundation has more to offer in its yearly review.

Washington, D.C. (March 23, 2007) – While annual reports for most charitable foundations often focus strictly on financial information, the Imagine America Foundation (IAF) has more to offer in its yearly review.

The Foundation has released its Annual Report, which provides information on the organization’s scholarship programs and numerous other charitable involvements during 2006. The organization, originally founded as a research and scholarship provider, has become an innovative resource for career college professionals and learning institutions.

Nearly $7 million in scholarship and award support was provided through IAF to career college students in 2006. Funds were primarily distributed through four scholarship and award programs sponsored by the Foundation: Imagine America (for graduating high school seniors), Imagine America Promise (for adult students), the Military Award Program (for active duty, reservist or honorably discharged U.S. military veterans), and the new Imagine America Online scholarship (for online/distance learners).

“What I see in the information presented in the annual report is the number of lives we’ve changed,” said Bob Martin, president of the Imagine America Foundation. “Behind those figures are thousands of students who have benefited from our support, not only with scholarships, but from the depth and breadth of all the programs we offer.”

Since its inception, IAF has offered about $35 million in scholarship assistance to students throughout the United States and Puerto Rico. Last year, though, career college students weren’t the only benefactors of the Foundation’s support. IAF also sponsored two new charitable programs:

The Imagine America Foundation has released its biannual fact book, which compares public institutions with private two- and four-year colleges.

Washington, D.C. (March 14, 2007) – The Imagine America Foundation has released its biannual fact book, which compares public institutions with private two- and four-year colleges. Featuring nearly 40 pages of research and analysis, the 2007 Fact Book presents a comprehensive look at the for-profit and career college sector of higher education and provides data on enrollment, student benefits and outcomes, career college student profiles, default rates, return on investment statistics, and job opportunities for graduates. More than 2 million students attended career colleges in the 2005-2006 academic year. While more than a quarter of dependent students come from families with incomes over $60,000, the career college sector is more likely than the non-profit sector to serve students who are independent, have income in the lowest quartile, have parents with an education below the high school level, and are racial or ethnic minorities. This research also shows:

  • 37 percent of students at career colleges are minority, comprising a greater share than those enrolled at private not-for-profit and public institutions (19.8 percent and 24.6 percent, respectively).
  • Career colleges represent seven of the 10 four-year institutions producing the largest number of minority graduates with Associate degrees in 2004-2005.

“Compared to similar institutions in specific areas of diversity, completion and graduation rate, career colleges do better,” said Bob Martin, president of the Imagine America Foundation. “While this isn’t a revelation for those of us in the sector, it does show – and realistically so – how our colleges stack up in the realm of higher education.”


Contact: Bob Martin, Imagine America Foundation President
Phone: (202) 336-6758
E-mail: bobm@career.org